Malaysians prize pay above job satisfaction, survey finds
KUALA LUMPUR, June 6 — Three out of five employees in Malaysia prioritise a good salary above job satisfaction compared to workers in other nations across the Asia-Pacific, according to a recent survey by global staffing giant Randstad released today.
The high figure (62 per cent) showed that this may be one of the reasons why Malaysia has a tough time attracting home its one million citizens currently living abroad, Randstad’s regional director for Singapore and Malaysia Karin Clarke said today.
“Many companies are competing with organisations in neighbouring countries that offer salaries as much as two to three times higher and with favourable foreign exchange rates.
“It becomes even more important for companies in Malaysia to look at creative measures to retain talent — from offering competitive remuneration and formal learning programmes, through to encouraging a family-friendly work environment that offers additional benefits like child-care facilities and flexible working hours,” Clarke said in a media statement.
The Dutch recruitment firm that places more than half a million people in jobs in 32 countries across the Asia-Pacific, Europe and the US noted that respondents elsewhere placed less emphasis on their pay.
In Singapore, the number stood at just slightly over half of all respondents (51 per cent), while in China, Malaysia’s biggest trading partner, it was 55 per cent and Japan, 52 per cent. Australia and New Zealand recorded 35 and 32 per cent respectively.
Randstad said its survey of 405 Malaysians found that two in five would quit their jobs if there was no more room for personal development.
The figure was higher among workers between 18 and 24 years old at 62 per cent.
“Younger workers are generally more ambitious in their climb up the corporate ladder. They are more likely to change jobs, even if it means moving overseas, in order to gain more work experience, as well as higher pay,” Clarke said.
She said business leaders need to recognise the importance of offering opportunities for training and career development to help this group enhance their professional skills and stay loyal to their organisation.
But the recruitment firm also found that 41 per cent of respondents would rather forgo their salaries than risk losing their jobs although half said they abided by a philosophy of “work to live” rather than “live to work”.
Randstad also found seven in 10 Malaysians saying they were spending more time than before with colleagues outside working hours.