malaysians to change employers by june
malaysians to change employers by june

3 in 10 respondents in Malaysia said that they plan to change jobs before June this year, marking a 7% increase from 2021. Of those who are not afraid of losing their jobs, 1 in 5 plan to switch jobs, an increase of 5% from the previous year.

Randstad - the world’s leading human resources solutions agency - today released early results of its annual Employer Brand Research in Malaysia. Commissioned by Randstad and independently conducted by Kantar TNS, the Randstad Employer Brand Research explores the top employee value proposition (EVP) factors that influence employees and job seekers in their search for an ideal new employer.

with an increasing number of jobs in the market, more malaysians are tempted to change jobs

Fahad Naeem, Head of Operations at Randstad Malaysia said, “As the labour market recovers from the pandemic and companies hire more headcount to manage increasing business demands, many employees are both tempted and motivated to seek new and better work opportunities. Many employees have had the chance to hone their skills over the last two years amid a volatile business climate, and they feel like they are ready for more challenging jobs with employers who not only care about their professional development but their well-being.”

The COVID-19 pandemic has not just changed the way we work, but also the job seekers’ expectations of what they want in an employer. In 2022, many job seekers are looking for employers that offer good salary packages and holistic employee well-being initiatives such as flexible work arrangements. This is why business leaders that proactively implement initiatives to improve work-life balance for their employees are more likely to attract and retain talent.

Between the 6-month period from July to December 2021, 14% of respondents had changed employers. The top three drivers motivating Malaysian employees to search for a new employer are:

  • attractive salary and benefits (66%)
  • work-life balance (62%)
  • strong management (62%)

Some employees in Malaysia may choose to continue working after dinner because of increased workload, want to show up for work over their fear of losing their jobs, or simply because they have no other plans that evening. While working overtime may result in more completed tasks, it can also be detrimental to one’s overall mental health and relationships with others. In the long run, employees may start to feel exhausted and lose their motivation and passion to work.

Employees who overwork themselves are more likely to search for a new job opportunity that has a more manageable workload or caring employer so that they can regain control of their time to take care of their physical and mental health. Bosses and managers who acknowledge good work performance while looking after their employees well-being would appeal to more job seeking talent.

Naeem continues, “The salaries of many Malaysian workers may have stayed the same for the past two years as companies tried to cut operating expenses to cope with business losses brought about by the pandemic. However, if employers don’t reward their employees fairly for their work contributions now that the economy has strongly recovered, employees may not feel like there is a good reason for them to stay, especially when there are so many new job opportunities in the market.” 

COVID-19 pandemic continues to drive fear into the workforce

More than 2 in 5 of Malaysian workers (43%) are afraid of losing their jobs and intend to change their jobs by June 2022, marking a 17% increase from 2021 (26%).

“Around 37,000 entrepreneurs as well as small and medium businesses closed their businesses as a result of nationwide lockdowns, which may have led to a highly-stressed workforce. Even with the economic rebound, many workers are concerned that their employer’s financial health is still not out of the woods yet. Business leaders who want to retain their people should regularly communicate their financial performance and talent development strategies to employees, so they can instil a sense of confidence and create a sense of togetherness in them,” Naeem shared.

fear of losing jobs due to pandemic
fear of losing jobs due to pandemic

Most employees appreciate bosses who are transparent in sharing critical business information. Being honest and transparent to you workforce help your employees better understand what they need to do to drive positive change, and it can also help earn their trust in the company. If the organisation is currently working in a hybrid model, HR teams should ensure that all remote employees are also involved in townhalls through virtual conferencing instead of excluding them from important business updates. 

2022 randstad malaysia employer brand research report - download a copy

The 2022 Randstad Employer Brand Research provides employers with a unique opportunity to uncover new insights and validate their assumptions of employees and job seekers. This independent research is the most representative employer brand study in the world, reaching out to 163,000 respondents across 31 markets, including 2,524 who are based in Malaysia in January 2022.

Get a complimentary copy of the 2022 Employer Brand Research Singapore report. Fill in the form to download the digital report today.

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