Half of working M'sians plan on changing jobs

KUALA LUMPUR: Over half of working Malaysians plan on changing jobs this year, according to a study.

The 2018 Hays Asia Salary Guide found that 35 per cent of Malaysian workers were planning to change jobs within six months, while 43 per cent are already on the lookout for a new job offer.

“Our guide is an excellent indicator of generational change amongst Malaysia’s workforce. Salary and benefits remain a key driver for job hunters, but we are seeing candidates place greater value on non-financial benefits too, particularly on career progression” said Tom Osborne, Regional Director of Hays in Malaysia.

“A total of 69 per cent of candidates told us that ‘salary and benefits’ was the top reason for accepting a new role,” added Osborne.

The study revealed that 32 per cent of the candidates said that say there was no scope for ‘career progression’ with their current employer, and that 31 per cent of respondents were unsure about what is available.

“However, the most important message is for talent who want to stand out from the pack. Staying relevant in a fast changing employment market is the responsibility of every candidate in Malaysia and should be their top priority for 2018,” Osborne said.

The findings of the study also showed that 62 per cent of the candidates were unhappy with their ‘compensation & benefits’ package while 38 per cent were happy.

Despite this, a massive 58 per cent did not ask for a pay rise in the last year. A further 20 per cent asked but were not successful while 22 per cent asked and received a pay bump.

In 2018, the largest proportion of respondents (55 per cent) expects a pay rise of over six per cent while 27 per cent expect an increase from between three to six per cent.

Another 14 per cent expect a salary increase of up to three per cent, with four per cent expecting no salary increase over the coming year.

This year in Malaysia, nearly half of employers (49 per cent) plan to award increases of between three to six per cent while another 39 per cent expect to increase salaries by over six per cent.