Covid-19 Pushing Malaysians To Look For New Careers
Some find their skills no longer relevant at their jobs.
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The Covid-19 pandemic is pushing Malaysians to look for better job opportunities.
According to the 2020 Covid-19 Labour Pulse Survey conducted by a local headhunting firm, Randstad Malaysia, 58% of Malaysian workers plan on looking for new jobs in the next 12 months.
24% of these prospective job seekers were hunting for new careers or other industries to work in, with 13% saying that their skills and experience were no longer relevant to their current jobs, while another 15% were retrenched.
Meanwhile, 26% said that they are taking temporary or indefinite pay cuts or pay freeze, with another 24% being unsatisfied with their current wages.
Randstad Malaysia and Singapore Managing Director Jaya Dass explained that as companies move to cut costs as well as making efforts to digitize in adapting to the “new normal”, a large number of workers are effectively displaced due to financial constraints or a mismatch in their job scopes as companies innovate online, leading employees to look for more relevant careers with better job security.
However, with the coronavirus crisis impacting the economy and job markets, Randstad’s study also found that 72% of Malaysians are willing to forgo stability and are willing to work on contract or project-based jobs.
The first half of 2020 saw the country’s unemployment rate jumped to 5%, the highest it’s ever been in over a decade, with over 800,000 Malaysians currently out of work.
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