According to a recent independent survey commissioned by Randstad Malaysia, 36 per cent of respondents expressed their consideration to leave their jobs for better career growth opportunities. Randstad – the world’s largest talent company – today released additional data from its 8th Employer Brand Research report to spotlight the changes in talent expectations in Malaysia, alongside workforce movements and increasing employers’ demands.
Commenting on the survey results, Fahad Naeem, Country Director at Randstad Malaysia shares, “Rapid technological advancements have transformed and redefined many job roles and responsibilities in Malaysia. This has left many employees feeling anxious about their job security as immense pressure has been placed on them to adapt and integrate technology into their work. Today’s employees want to work for companies that can equip them with the necessary tools and knowledge so that they can feel more prepared to adapt with the changes.” “In order 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. Companies that invest in their workforce should also promote their training capabilities and case studies to attract talent who are looking for growth.”
Top 5 reasons Malaysians would decide to leave their employer:
1. to improve work-life balance 50 per cent
2. lack career growth opportunities 36 per cent
3. low compensation and rising cost of living 35 per cent
4. received an offer they could not refuse 32 per cent
5. employer shows poor leadership 27 per cent
Malaysians want more support from their employers to upskill and re-skill
The survey also revealed that 81 per cent of Malaysians consider professional development important, but only 61 per cent of them have adequate opportunities to do so. Examples of professional development in this context include career promotions, mentorship or exchange programmes, networking at seminars or conferences. Diving deeper, 85 per cent of respondents said that upskilling and re-skilling is important to them, but 24 per cent did not receive enough training support from their employers.
Of the generations surveyed, millennials are the most invested in upskilling and re-skilling, followed by Gen Xers and Gen Zers. the importance of upskilling and re-skilling across generations said that upskilling is very important said that re-skilling is very important gen Zers 49 per cent 45 per cent millennials 61 per cent 57 per cent gen Xers 53 per cent 52 per cent Naeem shares, “With the emergence of new technologies, numerous job positions have undergone notable transformations, necessitating a substantial shift in employees’ skills. As such, talent are looking for employers that prioritise their professional growth through ample learning and development opportunities as well as the chance to apply their skills at work. Employees who feel secure and empowered in their careers would be more confident to innovate and motivate others.” “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.”
Higher salaries motivates Malaysians to upskill and re-skill
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 per cent of respondents said that they would leave their employer for better compensation to cope with the rising cost of living in Malaysia. Naeem comments “Malaysians expect their employers to support professional development as a way to be promoted into more prestigious roles and receive a higher compensation. Employers that provide clear paths for promotions are more likely to attract a larger pool of talent as it shows their commitment to set their employees up for success.” “When talent are given the opportunity to grow within the company, they will also be less likely to consider competing offers from other organisations. As they feel valued and invested in their current company, they will remain more engaged and motivated to drive business success.”
In January, the 2023 Randstad Employer Brand Research reached out to over 163,000 respondents across 32 markets, including 2,529 individuals based in Malaysia. This independent research is the world’s most comprehensive employer brand study that provides employers with a unique opportunity to discover new talent insights and measure their brand perception to improve their workforce strategies.
