KUALA LUMPUR, April 5 — Half of Malaysian workers surveyed by Employment Hero, an Australian-based payroll and human resources software provider, scored their work rate as just average or low because employers gave them little incentive to thrive.
The respondents were among thousands of workers from several countries polled for the company's 2023 Talent Insights Report, a biannual survey that tracks worker sentiment.
Among the highlights of the report was that up to 92 per cent of Malaysian respondents said they're career cushioning, the highest among five countries surveyed (Australia, New Zealand, the United Kingdom, Singapore and Malaysia).
Marketwatch.com describes career cushioning "as a person beginning the process of looking for their next job, or preparing to leave their current employer, while they are still in their present position." Several reasons can drive an employee to career cushion, like the lack of job security, low pay and feeling undervalued.
The Employment Hero report wasn't clear as to why a significantly high number of Malaysian workers keep on the lookout for better jobs, apart from the fact that they could be establishing a "safety net".
But other findings could point to low pay and feeling less appreciated as the reason. While 65 per cent of Malaysian respondents said they feel secure with their current job, nearly half (45 per cent) felt they're getting inadequate pay.
This dovetailed with the fact that 44 per cent of respondents described their work rate as just average, and six per cent more considered it low.
"The leading reasons for average or low productivity? Respondents pointed to low levels of reward and recognition within their business, and personal stress levels due to the current economic situation.
"Clearly Malaysian workers are hoping for the best, but preparing for the worst," the report said.
Asked about pay, inflation and expectations, almost half of the employees feel that their salary does not meet the rising cost of living.
Only 38 per cent said their salary kept up with the inflation rate, which reached a record high throughout 2022, even when 47 per cent said they received a pay hike in the last 12 months.
Meanwhile, 45 per cent said their salaries didn't match the inflation rate, with 47 per cent saying their wages stayed the same while six per cent got a pay cut.
The report said 42 per cent of those who received a pay increase saw a rise of 5 to10 per cent above Malaysia’s inflation rate of 3.8 per cent (December, 2022).
Salary was still cited as the main reason why anyone would stay with their current company or move to another. In their 2021 survey, 41 per cent of respondents said they were happy to move roles for pay on par with their current role.
In 2023, it dropped to just 8 per cent.
"This suggests that job seekers are no longer interested in making the effort to change roles if there isn’t monetary gain attached," Employment Hero said.
In its concluding remark, Employment Hero said firms should seriously consider investing more in "internal ambitions", after highlighting how a majority of respondents feel undervalued.
"Everybody likes to be recognised for a job well done, yet many employees feel like they aren’t being appreciated," it suggested.
"Not only was ‘a lack of reward and recognition’ a top reason for seeking a new role in another business, 21 per cent of employees would be encouraged to stay in their role should their business establish a better reward and recognition program," the report added.
Source: https://www.malaymail.com/news/malaysia/2023/04/05/survey-shows-malaysian-workers-want-to-thrive-but-feel-employers-give-poor-incentives/63361