News: Over 35% Malaysians intend to switch jobs to improve their career prospects

Employee Relations

Over 35% Malaysians intend to switch jobs to improve their career prospects

Other factors hurting retention include low pay, rising living expenses, and ineffective management.
Over 35%  Malaysians intend to switch jobs to improve their career prospects

Malaysian employees aren’t keen on their current jobs, and it shows.

Half of Malaysians intend to switch jobs for a better work-life balance, and 36% of them are eager to change jobs due to a lack of career growth opportunities. Low compensation and rising living costs, an overwhelming job offer, and poor leadership are other reasons for Malaysians to consider a job change.

Randstad Malaysia’s 2023 Employer Brand Research survey also revealed that 81% of Malaysians consider professional development, including career promotions, mentorship or exchange programs, and networking at seminars or conferences, important, but only 61% of them have adequate opportunities to do so.

The survey drew responses from 2,529 individuals based in Malaysia.

From a list of 16 employee value proposition factors, Malaysians ranked “attractive salary and benefits'' the most important element they look for in an ideal employer. In the same survey, 35% of respondents said that they would leave their employer for better compensation to cope with the rising cost of living in Malaysia.

Employees want to upskill and re-skill, but lack the opportunity

A majority (85%) of Malaysians agree that upskilling and re-skilling are important, however, adequate support from employers is not available to everyone.

Of the generations surveyed, millennials are the most invested in upskilling and re-skilling, followed by Gen Xers and Gen Zers. The findings of the report highlight that 49% of Gen Zers believe that upskilling is very important while 45% of them feel that re-skilling is very important.

Among millennials, 61% voted in favor of upskilling, and 57% of them voted in favor of re-skilling. With nominal difference, 53% and 52% of Gen Xers believe that upskilling and reskilling are important for them, respectively.

Employers that proactively develop engaging and purposeful training programmes will foster a culture of continuous learning and innovation within the organisation. This will better position them as an employer of choice as talent in Malaysia are always looking for organisations that invest in their learning and development for job security and more rewarding careers,” says Fahad Naeem, Country Director at Randstad Malaysia.

Naeem adds that to attract the best talent in an increasingly tight labour market, employers must stay ahead of market trends and understand workers’ concerns to create meaningful upskilling and re-skilling programmes that can help them be more productive at work.

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Topics: Employee Relations, Employee Engagement, Strategic HR

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