Labour market research reveals struggles and motivations driving job changes among Malaysians

KUALA LUMPUR, MALAYSIA: New labour market research conducted in Malaysia has uncovered significant challenges faced by a notable portion of the workforce, shedding light on motivations driving job changes among Malaysians.

According to the Randstad 2024 Employer Brand Research Teaser Report, a staggering 35% of Malaysian workers did not receive any financial support from their employers to help manage inflation and the rising cost of living. This finding underscores a pressing issue affecting a significant segment of the workforce.

The study, conducted by Kantar TNS in January 2024, surveyed 2,500 individuals in Malaysia, contributing to the world’s most comprehensive employer branding research based on general audience perceptions. \

Among its key findings, the research revealed that employees who did not receive any inflation compensation are nearly 40% more likely to seek new job opportunities, emphasizing the importance for employers to understand and meet talent expectations in the face of economic challenges.

Fahad Naeem, Country Director at Randstad Malaysia, emphasized the significance of the findings, stating, “With nine years worth of talent expectations and employer brand data collected in Malaysia, we are able to analyze how workforce priorities have shifted, what talent are most worried about and what employers can do to effectively attract and retain talent.”

One notable revelation from the research is the significant impact of work-life balance on job satisfaction and retention. Dissatisfaction with work-life balance emerged as the primary reason prompting Malaysian workers to consider switching jobs, with a staggering 48% of respondents citing a desire to improve their work-life balance as their top motivation for job change.

Additionally, limited career growth opportunities and concerns over salary were highlighted as key factors influencing job-seeking behaviour.

Thirty-seven percent of respondents expressed a desire for roles offering greater responsibilities and promotion opportunities, while 34% cited low pay coupled with rising living costs as their reason for seeking new employment opportunities.

The study also delved into the evolving dynamics of job change among digital natives, revealing that a significant 29% of Gen Z respondents are inclined to switch roles upon losing interest in their current positions. This trend aligns with broader patterns, as 43% of Gen Zers plan to change jobs in 2024.

In terms of job-seeking channels, digital platforms emerged as the most popular among Malaysian job seekers.

Job boards and social media channels like Facebook and WhatsApp were identified as the primary channels utilized by job seekers to search for new opportunities.

However, Fahad Naeem cautioned employers to ensure clear talent engagement strategies, emphasizing the importance of promoting job openings through trustworthy channels to mitigate the risks of fraudulent digital job advertisements.

The full research report, which includes data on employee value proposition as well as attitudes towards AI developments and equity, is set to be released by Randstad Malaysia in July 2024, providing further insights into the evolving landscape of employment in Malaysia.