50% of Malaysians ready to leave jobs without career progression opportunities, says Randstad

MALAYSIA: According to recent findings by Randstad Malaysia’s 2024 Workmonitor Research, 50% of Malaysians would consider leaving their jobs if they lacked sufficient career progression opportunities.

This sentiment underscores a significant shift towards valuing personal satisfaction and comprehensive work experiences over traditional career trajectories.

The research, conducted with 517 employees and job seekers in Malaysia, explored themes including motivation, ambition, flexibility, equity, understanding, and the integration of artificial intelligence and skilling in the workplace.

It reveals a nuanced workforce that places a high premium on job satisfaction alongside career advancement.

Fahad Naeem, Country Director at Randstad Malaysia, emphasized that the evolving labor market now demands a more individualized approach from employers.

“Companies must prioritize effective communication to understand specific needs like flexibility, career advancement, or training opportunities,” Naeem explained.

He stressed the importance of adopting a “talent-first” approach to address personalized employee goals, which is essential for businesses to stand out and succeed in today’s competitive job market.

The study also highlighted economic concerns, with one in two Malaysians fearful of job loss amid shifting economic conditions. This anxiety is more pronounced among younger generations, with 59% of Gen Zers and 57% of Millennials expressing concern over job security.

Despite these fears, 55% of Malaysians would stay in their current roles if they are satisfied, even without prospects for progression.

Economic pressures have led approximately 40% of Malaysians to take on second jobs to cope with rising living costs, showing the lengths some are going to maintain financial stability.

When it comes to the workplace priorities of Malaysians, the study found that 94% of respondents prioritize work-life balance and salary equally.

This is followed closely by health insurance and healthcare benefits (90%), flexibility in working hours (89%), job security (88%), and mental health support (87%).

The arrival of AI and the need for continuous skill development are also shaping career decisions.

Notably, 47% of respondents said they would decline job offers that do not include opportunities for learning and development to future-proof their skills.

“With the arrival of AI in workplaces, employees need to develop different skills, and technology has become crucial,” Naeem noted, emphasizing the need for employers to share more about their learning and development efforts to attract top talent.

The research from Randstad Malaysia paints a picture of a workforce that, while ambitious, increasingly values a holistic approach to career development—one that balances personal and professional growth with security and satisfaction.