17th November 2021 - 2 min read
A recent survey by human resources and people management platform Employment Hero has revealed that 72% of young Malaysian employees are considering looking for better employment prospects abroad.
Disclosed in the 2021 Employment Movement and Retention Report, Employment Hero said that this percentage is significantly higher than the figure that is recorded for Singapore (55%). The main reasons provided by Malaysian survey participants for their preference include obtaining better pay and improved career opportunities.
Aside from that, the report also shared that 61% of Malaysian employees polled are already planning on looking for a new role within the next year. In comparison, Singapore and Australia both recorded 59% and 48%, respectively, with regard to this matter. Meanwhile, 50% of New Zealand employees and 55% of United Kingdom employees said that they will search for new jobs within the next year.
“Of those who want to leave their organisation, the top reason is a lack of career development (36%), followed by a lack of appreciation or recognition (27%), and a lack of training opportunities (26%),” the report further noted.
Commenting on the findings of the survey, the co-founder and chief executive officer of Employment Hero, Ben Thompson said that the Covid-19 pandemic has spurred many individuals – including Malaysians – to consider making career changes or to venture abroad. “The biggest indication that something needs to change is that 24% of Malaysians say they ‘love’ their job and 45% say they ‘like’ it, but most of them have already planned to leave it,” he stated, adding that local employers should look into reassessing their policies, working culture, and retention strategies to contain this brain drain.
The survey for the 2021 Employment Movement and Retention Report polled a total of 1,004 Malaysian employees between 30 August to 3 September 2021.
Subscribe to our exclusive weekly newsletter and we’ll bring you the week’s highlights of financial news, expert tips, guides, and the latest credit card and e-wallet deals.
Stay tuned for what’s to come next in the personal finance world