3 Out of 10 Malaysians Want to Switch Jobs Before June 2022

According to Randstad's recent Employer Brand Research survey, three out of ten Malaysians want to change jobs before June, a seven-point rise from 2021. The research polled 163,000 individuals from 31 countries, including 2,524 in Malaysia, in January.

The poll aimed to examine the top employee value proposition (EVP) attributes that affect employees and job seekers in their hunt for potential new companies.

 

Many workers are prepared to jump ship

Randstad stated that of the workers who are "not afraid of losing their jobs", one in five (20%) intend to change jobs, up 5% from the year before (15%). More than two-fifths of respondents (43%) are concerned about losing their employment and want to change jobs by June 2022, a 17-point rise from 2021 (26%).

It was also discovered that 14% of respondents changed jobs throughout the six-month period from July to December 2021, with appealing pay and benefits (66%), work-life balance (62%), and strong management (62%) being the top three motivators.

 

Companies are starting to hire more workers

Randstad Malaysia's head of operations, Fahad Naeem, said that as the labour market rebounds from the pandemic and employers hire more headcount to meet rising business demands, many workers are both tempted and driven to seek new and better job prospects.

He added that many employees have had the opportunity to refine their talents over the last two years in a turbulent business environment. Many believe they are ready for more difficult jobs with employers who are concerned not just with their professional development but also with their wellbeing.

 

How workers' incomes influenced their decision to switch jobs

According to Naeem, many Malaysian workers' incomes may have stagnated during the last two years as businesses tried to decrease operating expenses to compensate for business losses caused by the pandemic.

However, he warned that if employers did not adequately reward their employees for their work efforts now that the economy was rebounding, some employees would not feel like there was a strong reason for them to stay, especially given the market's abundance of job opportunities.

 

Over 37,000 businesses forced to shut down due to lockdowns

Naeem said that about 37,000 entrepreneurs and small and medium businesses had to close their doors due to statewide lockdowns, which may have resulted in a "highly stressed" workforce.

He said that even with the economic recovery, many workers were anxious that their employer's financial health was not yet out of the woods.

Naeem urged business leaders who wished to keep their employees to constantly convey their financial success and talent development strategies to them, saying this would instil confidence and a sense of togetherness in them.

 

The 2022 Randstad Employer Brand Research offers new insights and validates employers' beliefs about employees and job seekers. This independent study reached out to 163,000 respondents across 31 countries in January 2022, including 2,524 in Malaysia.

 

Source: The Malaysian Reserve