KUALA LUMPUR; About 71% of Malaysia-based respondents in a survey expect the local economic situation to improve in this year, says human resources company Randstad.

In its Workmonitor fourth quarter 2019 report, it said that 82% of the respondents expect their employers to perform better financially in 2020 compared to 2019.

Randstad Singapore and Malaysia managing director Jaya Dass said many local businesses are hoping to see the diversion from the global trade war and increase in consumer confidence to continue through to 2020.

“In addition, many government initiatives to improve infrastructure and develop cities around Kuala Lumpur are also expected to be set in motion this year.

“These factors boost the confidence of the local workers, who are hoping to see more new, challenging and rewarding jobs in the market.

‘However, local businesses will still keep a watchful eye on the economic impact of a weakening global trade growth and the novel coronavirus outbreak,” she said in a statement today.

She noted that with better economic expectations, employees are hoping for a pay raise and bonus in Malaysia with more than eight in 10 respondents expecting a pay raise (81%) or a one-time bonus (84%) at the end of their employer’s fiscal year.

“Aligned with the results from our other surveys, Malaysian workers have always ranked salary and financial rewards as important factors that would determine their loyalty towards their employers.

“As the quality of life in Malaysia improves, local employees will aspire to earn a higher income not just to pay for necessities, but also live a more comfortable life,” she added. – Feb 18, 2020, Bernama

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