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36% Of Malaysian Employers Will Be Downsizing This Year

Time for a new job, maybe?

Cover image via The G Brief

A survey by Jobstreet.com revealed that 36% of locally based employers plan to downsize their staff in the third quarter of 2016

Image for illustration purposes only

Image via The G Brief

The report by Malay Mail Online on the survey by online employment company, Jobstreet.com, spoke about the economy, weak ringgit and its effects on the hiring trends and job vacancies in Malaysia in the third quarter of this year.

However, the rickety economic state of the country has not completely disrupted hiring trends.

50% of the employers that took part in the survey are still very keen on hiring new staff members this year.

Image for illustration purposes only

Image via AFP

"Hiring intention by employers still looks healthy despite the uncertainty in the global economy and the weak ringgit," said Jobstreet's country manager, Chook Yuh Yng, as reported by The Malay Mail Online today, 18 August.

When speaking at a human resource networking event in Kuala Lumpur, today, 18 August, Chook elaborated that Malaysia's employment market has dipped this year compared to the year 2015. The first half of this year has apparently decreased by 5%, compared to the first half of 2015.

Chook opined that it is due to the rising global oil prices and the rising inflation in Malaysia.

What are some of the industries that are still actively hiring?

According to the survey, employers from the banking, engineering and retail industries are looking to increase their staff size, while 40% of the respondents wished to make no changes to their manpower and 36% expressed their intentions to cut down.

"Despite the decrease in the job market, we still have over 20,000 job vacancies posted on our website. Jobseekers should remain positive and make sure that their JobStreet.com profiles are updated so that they don't miss out on opportunities," added Chook.

The industry that offers the most number of jobs is the manufacturing sector, followed by banking, construction, information technology and retail.

In terms of salary, little has changed compared to last year. Chook said that fresh graduates can expect around RM2,100 to 2,500 while current employees are hitting the RM3,000 mark.

Image for illustration purposes only

Image via AFP via Channel News Asia

She advised fresh graduates to be realistic in hunting for their first job and value the opportunity when it comes.

"Why stay unemployed when there are plenty of jobs in the market. Take up a job first while you continue to search for better opportunities," she said.

JobStreet.com is a leading online job board presently covering the employment markets in Malaysia, Singapore, the Philippines, Indonesia and Vietnam.

It currently services over 230,000 corporate employers and has over 15 million job-seekers in its database.

themalaymailonline.com

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