IN Malaysia, 44% of locally-based respondents have seen their skills become more relevant during the COVID-19 pandemic.
This is the highest in the region, with Singapore, Mainland China and Hong Kong SAR trailing at 21%, 28% and 17% respectively, according to Randstad’s 2H 2021 Workmonitor survey in Malaysia.
The bi-annual survey – which was conducted in Sept 2021 across 34 markets around the world with a minimum of 800 respondents in each market – highlights the workforce’s latest sentiments and perceptions of the local job market.
The survey also reported that 51% of respondents have been promoted during the pandemic and 23% of respondents have seen their ability to earn an income improve.
Despite the rising employment rate, Malaysia remains a candidate-short market, said Randstad Malaysia head of operations Fahad Naeem.
“Many industries are facing hiring challenges due to the mismatch between the digital growth ambitions of companies and the shortage of qualified talent to fulfil those goals,” he added.
“Even as the workforce has become increasingly well-educated and more people are re-entering the job search market, candidates simply lack the specific expertise to bridge the skills gap in Malaysia.”
Fahad went on to note that the pandemic has also further worsened the issue of under-employment.
“Despite an increasingly well-educated workforce in recent years, there remains an undersupply of high-skilled jobs which causes people to settle in jobs that they are overqualified for,” he remarked.
“As the country pushes forward to become a highly-connected and digital-first nation, there is a critical need to upskill the entire workforce so that more people are qualified for the high-value jobs that companies are offering now.”
According to the survey, Malaysian respondents recognise the need to upskill and want employers to help facilitate their career growth and development.
As such, close to nine in 10 respondents saying that the changes in the job market that have occurred or are anticipated to come have made them realise that they need more training and development to remain relevant.
“In an effort to position the country as an attractive business destination, the Malaysian Government plans to attract more foreign direct investments and create more cohesive private-public collaborations in the economic ecosystem,” Naeem commented.
“While these efforts will create more jobs for the local workforce, upskilling and re-skilling of employees and undergraduates need to keep up with the business demands to be able to continue attracting new investments.”
The survey also revealed that more than nine in 10 Malaysian respondents want their employers or the Government to provide skills assessment tests so that they know what skills to obtain to stay employable.
“Even though there is an earnest willingness to upskill, many employees are overwhelmed by deadlines and the sheer amount of work on a regular day.
“Therefore, employers need to develop an actionable long-term workforce upskilling strategy that aims to let employees know the specific skills that they need to acquire to advance their careers as well as provide resources to help them meet their professional goals,” Naeem added.
The great resignation
According to Randstad survey data, the “Great Resignation” wave could be sweeping through the country.
The percentage of respondents that have switched employers have increased seven-point, from 29% in March 2021 to 36% in September 2021.
As for the factors driving their career choices, 51% of the respondents value career growth opportunities, 37% value opportunities to gain more long-term marketable skills and 30% value working for a fast-growing company.
Meanwhile, 73% of respondents would consider a job offered by a company outside of Malaysia if they can perform the job locally.
This is the highest in the region, with Singapore, Mainland China and Hong Kong SAR trailing at 69%, 60% and 65% respectively. – Feb 28, 2022
