Will ‘The Great Resignation’ Hit Malaysia? Employers Don’t Think So

According to two groups that represent workers and employers, Malaysia, unlike the United States or Europe, will not see an exodus of workers quitting their jobs anytime soon, even with the post-pandemic economic woes.

Malaysian Employers Federation (MEF) president Datuk Syed Hussain Syed Husman stated that it found a lower turnover rate based on the economic uncertainty due to the pandemic and high unemployment (4.7% for the third quarter of 2021/746,000 unemployed workers) based on its 2020 wage survey.

Employees take big risks to find new jobs during the pandemic

In the recently-published report, Syed Hussain said that employees who consider quitting would have to take the risks of whether the new jobs would be more secure than their current ones. He added that the families of employees may not be prepared to take chances for change due to the current volatile situation.

He said employers who have restarted normal operations would look to keep their employees as they have the right skills and training to perform their work by offering growth opportunities, competitive salaries, and benefits packages. 

He did admit that some workers may find new job opportunities that enable them to work remotely and retain the work-from-home culture they were used to during the movement control orders, as many employers now prefer to have their employees back in the office. 

Many Malaysian workers are looking for job security to survive through the pandemic.

Syed Hussain said that working from home provides employees more time to think about what they truly want in life, for instance, a working career or being an entrepreneur. He added that some workers chose entrepreneurial approaches because it gives them freedom and time to do what they want.

He elaborated that the launching of numerous digital platforms has provided the employees the chance to earn income from home. However, he also said that employers are keeping an open mind to flexible work arrangements and may use them as part of their strategies to retain employees.

MTUC agrees with MEF

The Malaysian Trades Union Congress (MTUC) also does not expect employees to leave their current jobs in droves. According to MTUC president Datuk Abdul Halim Mansor, there were differences in culture, climate, and social protection safety nets between western countries and Malaysia. 

He said that Malaysia is experiencing a high unemployment situation, not due to the pandemic, but because there are no suitable jobs due to low wages and employers who prefer to hire foreign workers as they are paid less. 

He said that employers must prioritise local workers in the job market and pay them according to their experience and years of service.

61% Malaysian workers are looking for a new job in 2022?

Both groups were commenting on a new survey by human resources and people management firm Employment Hero. The report found that 61% of Malaysian workers plan to look for a new job next year. 

The 2021 Employee Movement and Retention report said that younger employees who are aged 35 and below are among the most prepared to leave their current jobs. The report surveyed 1,004 people. 

The poll also said that most workers enjoy (45%) or even love (24%) their jobs. Only 4% of workers say they despise or loath their jobs, which implies that labour is not the issue. Instead, the most common reasons for quitting are:

• A lack of career advancement (36%),

• A lack of recognition or appreciation (27%), and

• A  lack of training opportunities(26%).

About 74% of workers who received a salary cut during the pandemic also said they will look for a new job within the year. When asked about what encouraged them to stay:

• 45% of respondents said a salary increase

• 32% prefer more rewards and recognition,

• 28% said a promotion,

• 28% prefer the introduction of a bonus structure, and

• 24% want flexible working arrangements.

Another research cited in the report was the EY 2021 Work Reimagined Employee Survey. The poll said nine out of 10 Malaysians preferred flexibility in where and when they work. Almost half of the Malaysian respondents said they would quit their jobs if they were not offered post-pandemic flexibility.
 

Source: Malay Mail

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