Rewards are tokens of appreciation or acknowledgment given by an organization or the government to an individual or a group of individuals or a non-profit organization or a business company or group for their immense dedication, hard work, and contribution to the betterment of society or the people of the country. In this article, we will be discussing such things under employee rewards Malaysia. These rewards or benefits are non-wage compensation given to the employees in addition to their regular salaries.
When were these rewards launched in Malaysia-
After the Employment Act of 1955, which included a list of orders that the government of Malaysia has made compulsory to be followed by the employer to provide the benefits or rewards to be given to their employees, whichever post they belong to.
The benefits of the rewards been given to the employees-
- Annual leave- every employee of every organization should have a list of paid annual leave. Eight days in a year if they have been employed in the company for less than 12 months., 12 days every year if the employee has been working in the company for more than two years but less than five years, and 16 days every year if the employee is working in the company for five years and more.
- Public holidays- paid holidays for all the public holidays in Malaysia like national day, Malaysia day, worker’s day, etc.
- Insurance or medical coverage- many companies in Malaysia provide their employees with medical or insurance coverage in cases of eye-related problems, sudden accidents, whether during duty or off duty, dental-related problems, etc., whichever problem might occur. Under these circumstances, the company will pay for the medical bills.
- Allowances– given in addition to the employee’s monthly salary, internet allowance, parking allowance, and travel allowance.
- Professional training or certification- some company employers send their few selected and talented employees for professional training or gather diploma certificates from any institution. I am making them level up from their previous skill and experience and helping them to look for better job options.
- SOCSCO’s employment injury scheme coverage- this scheme is effective from 1st January 2019. Applicable only for the expatriates where the government pays money to the company and in return given to the injured, temporary or permanent disability due to injuries received while on duty, died, having constant total attendance, etc. for their contribution respective work.
To conclude, the rewards mentioned above are regularly given to the employees for whom their economic system cycle is moving.