Survey Reveals Why Malaysians Switch Jobs And What Makes Them Stay
Employers, take note!
By Nandini Balakrishnan — 20 Mar 2017, 05:24 PM
Salary is the main reason why Malaysians are looking to switch jobs in 2017. However, a majority of employers only plan increases of three to six percent this year.
The next biggest motivator for employees in Malaysia leaving their current jobs to seek for new ones, is the lack of career progression at 47%. This is followed by the thirst for new challenges at 44% and their current company's management style and culture at 40%.
Work location is the least important aspect when switching jobs. A majority of employees who were part of the survey said that they have been with their employers for three to five years.
Global recruiting firm Hays recently released its annual Asia Salary Guide for the year 2017. It provides insights on salary and hiring trends across China, Hong Kong, Japan, Malaysia, and Singapore, covering more than 3,000 employers representing around six million employees.
Work-life balance.
The next important thing that employees take into consideration when looking to stay with their current employers is salary and benefit package, followed by work location.
Interestingly enough, the only country that did not pick work-life balance as their top most priority is China. For the Chinese, job security is why they'll stay with their current employer.
Meanwhile, 56% of employees in these countries are not satisfied with the salary, bonuses and benefits they are receiving from their employers
Despite that, 65% said that they did not ask for a raise from their employers in the past year. 29% of Malaysian employees expect to receive a pay raise of three to six percent in their next performance review.
19% want a pay raise of more than 10%. This is contrary to Japan, where only six percent are looking for a pay raise of more than 10%.
What are some of the common benefits provided by employers?
Health and medical benefits tops the list at 85%, while life assurance and car allowance at 40% and 34% takes the second and third spot, respectively.
Only 31% of employers across China, Hong Kong, Japan, Malaysia, and Singapore provide pension as part of their benefits package.
As for bonuses, 51% of employers said that more than half of their staff will be receiving bonuses this year. Most said that it'll be dependent on the company's performance.
As for overtime, only 46% of employees are paid for working additional hours. 38% of employers do not pay anything.
Hays Salary Guide also revealed that Malaysia and China has the highest percentage of women in management positions compared to the other countries that are part of the survey.
Will salary serve as the determining factor when you're looking for new jobs? Let us know your thoughts in the comment section below.