Half of Malaysians consider a total career switch to safeguard financial future
KUALA LUMPUR: Malaysians are concerned about their professional future and are exploring job opportunities outside of their realms of experience to find higher wages and more fulfilling careers, according to a survey by recruitment giant Monster.com.
While a large 77 per cent of Malaysian workers are already on the hunt for a new job within their field of expertise, 87 per cent are also considering making the switch to another industry altogether, simply because they want to find “the best job”.
The biggest reasons for making a career switch is the desire for a better salary and financial stability (45 per cent), followed by lack of growth opportunities in their current industry (29 per cent).
These responses are part of a wider #IMadeTheSwitch campaign, in which Monster polled more than 2,400 respondents across Malaysia, Singapore and the Philippines to examine and raise awareness on issues around career transitioning across Southeast Asia.
It also aims to identify these issues for employers, who might want to understand why employees would consider changing careers, and how they can retain their workforce.
Among fresh entrants into the workforce, 87 per cent are keen to explore career options beyond their field of study - although 45 per cent are worried about their inexperience in other fields, and 18 per cent are concerned they will need additional qualifications.
For mid-career professionals, 43 per cent want to switch career paths for bigger wages and financial stability - nearly half (47 per cent) of Malaysians in this stage of their careers feel underpaid, and 24 per cent said their current career isn’t satisfying for them anymore because the job “isn’t what they expected it to be”.
For Malaysian professionals with 15 plus years of experience, 64 per cent said they have made a career switch before. Other than financial gain, the desire to switch comes from a needto do something more challenging and purposeful (45 per cent) and the realisation that the changing nature of their industry impacts future job prospects (24 per cent).