Survey: 1 In 4 Malaysians Feel Underpaid Compared To Similar Jobs In Other Companies
Ever felt frustrated after finding out how much your colleagues or other Malaysians with similar jobs earn?
You're not alone.
According to Randstad Malaysia's latest Workmonitor survey, 85% of Malaysian respondents feel valued and appreciated in their jobs.
However, one in four Malaysian employees (25%) feel underpaid compared to those with similar jobs in other companies. 31% of younger respondents, between 18 and 25 years old, also felt the same.
The 2020 Randstad Workmonitor Q1 survey was conducted between 13 March and 20 March, with a minimum sample size of 400.
Based on the survey, 49% of employees in Malaysia are likely to leave their jobs to start their own business
More than four in five Generation-Z (82%) and 76% of millennial respondents said that being an entrepreneur would give them more opportunities.
On the flip side, 68% of those aged between 55 and 67 are keen on exploring entrepreneurship.
Randstad Malaysia and Singapore managing director Jaya Dass says people tend to start their own business at an earlier age because of less financial commitments and a longer window of opportunity.
To attract and retain these valued employees, Dass adds that, "[It] is critical for companies to keep pace with their employees' expectations and ensure they are doing enough to maximise the positive employee experience."
"They can start by learning the employer branding factors that are important and attractive to millennials, and understanding what they want out of their careers. In doing so, employers can make small and incremental changes to attract more talent and improve retention."
To set themselves apart from their peers, Dass suggests that graduates seek out internship opportunities or part-time jobs while studying
"Graduates who have internship experiences or worked in part-time roles while they were studying are more prepared for the working environment, as they know how to navigate the workspace and engage with stakeholders. It can also help them discover and decide what type of employers and work they prefer to do.
"Young job seekers who demonstrate a determination to learn are more attractive to companies, and employers would be willing to offer a higher salary for the perceived value that they will add to the organisation."