Around 30% of Malaysian employees plan to switch job by June

by AZREEN HANI / pic by TMR

THREE in 10 respondents (30%) in Malaysia said that they plan to change employers before June this year, marking a seven-point increase from 2021, according to Randstad. 

Of those who are not afraid of losing their jobs, one in five (20%) plan to switch jobs, a 5% increase from the previous year (15%).  

Read more: The ‘great resignation’ is happening, Randstad Malaysia says

This is based on Randstad’s early results of its annual Employer Brand Research in Malaysia. 

The report explores the top employee value proposition factors that influence employees and job seekers in their search for an ideal new employer.

“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 wellbeing,” Malaysia operations head Fahad Naeem said in a statement today.

Between the six-month period from July to December 2021, 14% of respondents had changed employers. The top three drivers motivating them to switch employers were attractive salary and benefits (66%), work-life balance (62%) and strong management (62%).

“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,” he added.

More than two in five respondents (43%) are afraid of losing their jobs and intend to change their jobs by June 2022, marking a 17-point 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.

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.