Malaysia's strong economic background has made it a remarkable attraction to start-up companies and large organizations looking for an offshore presence in Southeast Asia. With one of the strongest gross domestic product records, Malaysia offers a great deal to any business owner. As entrepreneurs move into the area and set up their businesses, they often run into a number of different issues.
For one, the Malaysian culture is much different from other nations such as Europe, America, and Australia. It is a good idea to have a strong grasp of the nation's history and cultural differences. This can help business owners fit into a neighborhood better and choose the right employees for their company. Another issue that many small business owners must contend with is the race for quality employees who will stay with your company as it grows.
1. Competing with Larger Companies
It often costs thousands of dollars to hire and train employees making it imperative to keep these valuable assets as your business grows. A real challenge to this occurs whenever large, well-known corporations move into an area. Generally speaking, big companies in the electronics and technology sectors can offer employees more. They usually have a better budget for salaries along with a good benefits package. American corporations usually offer perks like insurance, vacation time, and higher salaries.
2. Offer More Money
If you own a small or medium-sized business, you might find it difficult to compete with these larger companies, and this has led business owners to look for unique ways of keeping their employees' loyalty. Since most people's bottom line is money, try to provide the highest possible salaries for your employees. If your budget simply will not allow salary increases, then it is time to find more creative ways to attract and keep your employees on staff.
3. Giving Titles to Employees
Though this does not really cost you anything, many employees appreciate their employer giving them some title. For instance, offering the title of manager, supervisor or lead person in a department will pull a lot of weight with your employees. You might be able to come up with some titles that are specific to your type of business. Each time you give an employee a new title, have some business cards printed with their name and this title on it so that they can give these out to friends and family members. Employees appreciate you recognizing their specific skill sets by giving them a title and a few additional responsibilities. This strategy also causes employees to remain more loyal.
4. Recognizing Superior Workers
Again, this is something that will cost your company almost nothing. Each month, post the names of employees who have performed exceptional work or have not missed a day of work. You can also offer small prizes for these accomplishments. For instance, if an employee comes to work on time for 30 straight days, reward them with a gift card. The amount of money is not as important as the act itself.
5. Provide a Better Work Environment
Most employees appreciate an upscale work environment that includes the latest office equipment, furnishings, and a nice break room where they can gather at lunch time. Though it can be expensive in Malaysia to lease a nice office and furnish it this way, Malaysia offers some good alternatives. For instance, you can rent virtual office space in Malaysia's prime business areas. Servcorp Serviced Offices come equipped with the latest furnishings and equipment, all at one low monthly price. Your employees will feel good about coming to work each day, and they will have all the tools at their disposal to do the best job.
Luxury Office Space
New business owners often find it very helpful to lease office space from Servcorp Serviced Offices in Malaysia. This gives you the prestigious business address you need in one of Malaysia's beautiful skyscrapers. These serviced offices are furnished with luxurious decor and staffed with highly trained personnel. An extensive list of exclusive amenities is available, making this an excellent choice for business owners. Why not call +603 2169 6128 today to set up your tour of our luxurious virtual office spaces in Malaysia?