KUALA LUMPUR, 17 April 2013 – Talent Corporation Malaysia Berhad (TalentCorp), General Electric (GE) and PricewaterhouseCoopers (PwC) jointly organised a forum and panel discussion today, themed ‘Beyond Rewards: What Keeps your Employees Happy?'.
In line with the national agenda to develop Malaysia into a high-income nation by year 2020, talent has been recognised as a key factor in driving innovation-led and knowledge-based growth. At the forum, TalentCorp, together with GE and PwC, shared with Malaysian corporates, government bodies and government-linked companies, best practices and key recommendations to ensure a sustainable pipeline of talent in Malaysia.
Panelists include Johan Mahmood Merican, Chief Executive Officer, TalentCorp, Heather Wang, Vice President Human Resources, GE Global Growth and Operations and Ramon Chelva, Executive Director, People and Change, PwC.
The topic of discussion was set on the back of a report conducted by PwC on Generation-Y (Gen-Y), which provided insights into the minds of recent graduates in Malaysia and highlights their evolving career preferences. The panel emphasized the importance of understanding this new breed of talent and spoke about how to attract and motivate them beyond financial compensation.
A thought leader in corporate and employee training across industries, GE shared its views on the importance of talent development in driving the continued and future success of its business, as well as best practices in leadership development to foster a sustainable talent pipeline. Approximately 72% of GE’s employees in Malaysia are between 25 to 40 years of age and as such, the company places great emphasis on engaging and learning about what motivates the next generation of leaders. ‘Global New Directions’ is a GE initiative that brings together next-generation talent to share their thoughts and insights on attracting, developing and inspiring talent. The insights and ideas garnered from these sessions are then developed into new and contemporary approaches, tools and processes to support GE’s global workforce.
“At GE, learning is deeply embedded in our culture and we take the development of our people very seriously. We recognize the impact and influence that leaders have on the people around them, and are focused on continuing to nurture the best leaders who can meet the challenges of today and tomorrow. This reinforces GE’s commitment to developing Malaysian talent, and has introduced various training and development programs here including our Graduate Engineering Management Program and the Financial Management Program. We also work with our local partners to help build Malaysia’s talent base and have in place knowledge-sharing agreements through which we share global best practices,” said Heather Wang, Vice President Human Resources, GE Global Growth and Operations.
PwC spoke about their combined experiences - what they’ve done internally, which contributed to their 3rd win as the Malaysia’s 100 Top Graduate Employer of the Year 2012, and their work advising clients on HR strategies.
"The classic view of careers and employee tenures must change. Millennials know what they want and they are aggressive with their career choices. This means that employers must realign their talent strategies, especially in the areas of employee engagement, motivation and retention. At PwC, we embrace diversity. Creating an environment where a multi-generational workforce can work together, grow their careers, and make a difference is an investment in our people and our business," said Ramon Chelva, Executive Director, People and Change, PwC Malaysia.
“It is incumbent on Corporate Malaysia to better engage Gen Y if we are to attract, retain and motivate our emerging top talent,” said TalentCorp CEO Johan Mahmood Merican.
The forum is a demonstration of the belief and continued commitment to collaboration by TalentCorp and their partners, GE and PwC, who are able to share their global expertise and thought leadership, to help shape and contribute to the talent discussion in Malaysia as the nation works towards developing ideas for a sustainable talent pipeline here.
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TalentCorp was established on 1 January 2011 under the Prime Minister’s Department to formulate and facilitate initiatives to address the availability of talent in line with the needs of the country’s economic transformation. Collaborating closely with relevant Government agencies and employers in priority economic sectors, TalentCorp develops demand-driven initiatives focused on three strategic thrusts, specifically: (1) Optimise Malaysian talent, (2) Attract and Facilitate Global Talent and (3) Build Networks of Top Talent.
© 2013 PwC. All rights reserved. "PricewaterhouseCoopers" and/or "PwC" refers to the individual members of the PricewaterhouseCoopers organisation in Malaysia, each of which is a separate and independent legal entity. Please see www.pwc.com/structure for further details.