Survey: Malaysia Didn’t Experience the Great Resignation

The Robert Walters Great Resignation Reality Check poll shows that the much-publicised "great resignation" appears to be more muted in South-East Asia.

The global recruitment business recently questioned over 2,600 individuals and more than 1,100 firms in the region to better understand how people feel about resignations, worker turnover, and retention motivators.

 

Malaysian workers prioritise salary and benefits

According to the report, professionals in the region value job stability amid uncertain times, with more than half, or 59%, saying they are hesitant to quit without a new job offer.

Meanwhile, 81% of those considering resigning are willing to reconsider if the circumstances are favourable.

The report stated that professionals in Malaysia prioritise wage packages, effective leadership, and positive workplace culture. These factors help to retain talent. 

However, the poll indicated that attracting new talent remains difficult in South-East Asia, particularly in Malaysia, where 83% of employers reported that it had become more difficult in the previous year.

The report noted that the major hurdles for sourcing talent are:

• High expectations for salary and benefits (66%),

• High competition for talent (55%), and 

• A lack of experience in the industry (44%).

 

Almost 79% of workers in SEA thought of quitting in 2021

In 2021, almost 79% of professionals in South-East Asia planned to quit; however, nearly half, or 42%, had yet to do so.

According to the report, Malaysia had the highest proportion of professionals (82%) who considered quitting their positions in 2021, followed by Singapore and Thailand, both at 80%.

Furthermore, 87% of businesses believe staff turnover or resignations have grown in the last year.

The report also said that 62% of professionals in Malaysia would not quit unless they have a better offer lined up, trailing Singapore at 64%.

Rather than a great resignation, Robert Walters believes that firms in South-East Asia may expect an increased employment market in the following year.

South-East Asia MD Robert Walters Gerrit Bouckaert predicts that professionals in the region would not quit on the spur of the moment but will instead seek to transition between positions.

He said that in the face of a potential recession, the firm anticipates more cautious professionals who will only relocate if they have another job offer.

 

2 in 5 Malaysian workers stayed as they could not find a new job

Of the 82% of Malaysian professionals who pondered resigning last year, 39% eventually stayed because they had not found a new job. The reasons given for retention were: 

• 58% had not yet found a new job, 

• 26% were unsure about the new workplace's culture and compatibility, and 

• 25% were concerned about job security at a new business.

Nonetheless, 81% of Malaysian professionals would rethink resigning if the conditions were favourable.

While income increases remain the most important influence, the poll found that changes in job duties (26%) and a change in leadership (24%) are also important variables that will cause professionals to change their minds.

 

Companies are working harder to retain their employees

The report said that companies had increased their efforts to take appropriate measures to retain personnel, such as: 

• Matching or raising compensation (58%), 

• Offering training and upskilling opportunities (56%), and 

• Providing a clear pathway for career growth (44%).

 

A staggering 86% of professionals reported that they had re-evaluated their other life aspects regarding careers.

• 76% of them are now prioritising their mental and physical well-being (76%), 

• 70% prioritise time spent with loved ones, and 

• 68% are focusing on the meaning or fulfilment of their jobs

 

The report stated, "This corresponds to this year's findings by the Malaysian Employers Federation (MEF), noting that many employers are now adopting flexible work arrangements to cater to employees' evolving needs such as having a work-life balance, as well as physical and emotional health."

Source: The Malaysian Reserve