71% expect malaysia’s economy to improve in 2020.

According to Randstad’s Workmonitor 2019 Q4 results, 71% of Malaysia-based respondents expect the economic situation to improve in 2020. More than four in five respondents (82%) also expect their employers to perform better financially in 2020, than in 2019.

Ms. Jaya Dass, Managing Director of Randstad Singapore and Malaysia, said, “Many local businesses are hoping to see the diversion from the global trade war and increase in consumer confidence to continue through to 2020. In addition, many government initiatives to improve infrastructure and develop cities around Kuala Lumpur are also expected to be set in motion this year.”

“These factors boost the confidence of the local workers, who are hoping to see more new, challenging and rewarding jobs in the market. However, local businesses will still keep a watchful eye on the economic impact of a weakening global trade growth and the novel coronavirus outbreak.”

high pay raise and bonus expectations

There is a high expectation for pay raise and bonus in Malaysia. More than 8 in 10 respondents expect a pay raise (81%) or a one-time bonus (84%) at the end of their employer’s fiscal year.

“Aligned with the results from our other surveys, Malaysian workers have always ranked salary and financial rewards as important factors that would determine their loyalty towards their employers. As the quality of life in Malaysia improves, local employees will aspire to earn a higher income not just to pay for necessities, but also live a more comfortable life.”

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