Application of MFRS 119 Employee Benefits in Malaysian Firm

In a developing economy, Malaysian corporations tends to apply the employee benefits according to MFRS 119 Employee Benefits. However, the strategies of employee benefits are different from company to company. One of the goals of an employee benefits is to motivate the employee by working hard to achieve the company’s goals. The purpose of this study was to evaluate the element of employee benefits based on MFRS 119 that applied in Malaysian company. The thirty-two (32) participating companies were chosen for the final study. Data were collected using content analysis of the annual report for the financial year ending December 31, 2020, at the end of the year 2020 of each of the participating companies. According to the findings, while there were statistically significant similarities between the implications for employee benefits, the research found there were little, if any, noticeable differences between the implications in terms of benefits. The study's limitations are possible non-response discrimination, the use of only organizations listed in Malaysia, random choose the companies not based on their sectors and only use the content analysis of annual report. One of the recommendations is assessing how firms decide the strategy of employee benefit that are most likely to attract, retain and inspire employees.