1 in 2 Malaysians would quit job without growth in 2024: Survey

Half of Malaysians expressed their willingness to leave their current job if it lacked opportunities for career advancement, while 55% stated they would stay if they were content with their current role, even if it offered no room for growth.

Findings from Randstad Malaysia’s Workmonitor Research shed light on the evolution of career aspirations, emphasising a shift from a narrow focus on career advancement to a more holistic emphasis on personal satisfaction and overall work experience.

Today, Randstad unveiled its 2024 Workmonitor research in Malaysia. The study, which surveyed 517 locally-based employees and job seekers, delves into their career expectations and experiences across four key themes: motivation and ambition, flexibility, equity and understanding, and artificial intelligence (AI) & skilling.

According to Fahad Naeem, Country Director at Randstad Malaysia, "The labour marketplace in Malaysia has shifted from being transactional to an employer's ability to address individual talent motivations and aspirations. Effective communication is crucial for understanding specific needs such as flexibility, career advancement, or training opportunities. Adopting a 'talent-first' approach that focuses on personalised employee goals helps businesses stand out and thrive in today's competitive work environment."

As economic changes loom, concerns about job security are prevalent among Malaysians. Half of the respondents fear job loss, with Gen Zers (59%) and Millennials (57%) expressing even higher levels of anxiety.

Prioritising job and income stability, 55% of Malaysians stated that they would remain content in their current role even if it lacked opportunities for career advancement. 

Additionally, two in five respondents expressed satisfaction with their current position and did not seek further career progression, with Gen Zers (44%) and Millennials (43%) being the most inclined towards this sentiment.

Amidst the evolving economic landscape, approximately two in five Malaysians have either taken on or are considering second jobs to cope with the rising cost of living. Moreover, there is a prevailing concern among individuals about economic uncertainty impacting their career advancement opportunities.

Despite economic challenges, there is a strong sense of career ambition among Malaysians. A significant 73% of respondents consider themselves ambitious, which is notably 17% higher than the global average. However, interestingly, 12% of workers express no desire to pursue managerial roles.

Nevertheless, the research underscores that the absence of a desire for career progression does not equate to a lack of interest in self-improvement. A striking 81% of respondents prioritise training and development opportunities when evaluating their current and future employers, indicating a growing focus on overall job satisfaction and personal growth.

The survey reveals the top five priorities for Malaysians when considering their current or future employment:

• Work-life balance and salary are paramount, with 94% of respondents prioritising these aspects.
• Health insurance and healthcare benefits follow closely behind, with 90% of respondents emphasising their importance.
• Working hours flexibility is crucial for 89% of respondents, highlighting the need for adaptable work arrangements.
• Job security ranks high, with 88% of respondents valuing stability in their employment.
• Mental health support is also deemed essential, with 87% of respondents expressing the importance of this aspect.

Fahad Naeem, Country Director at Randstad Malaysia, emphasises that while Malaysians are ambitious in seeking higher salaries and prestigious job titles, they also prioritize positive work experiences. Achieving a stable work-life balance, along with employer support for physical and mental well-being, and opportunities for upskilling, often outweigh monetary incentives.

The survey underscores the non-negotiable importance of skilling opportunities for talent in Malaysia. In light of the increasing adoption of AI, 47% of respondents assert that they would not accept a job if it did not offer learning and development opportunities to future-proof their skills. Furthermore, more than one in three respondents would consider quitting their jobs if such opportunities were not provided.

Interestingly, 43% of Gen Zers would contemplate leaving a job lacking upskilling opportunities, contrasting with only 15% of Baby Boomers who would take similar action. This highlights the generational differences in attitudes toward career development and progression.

Regarding responsibility for training and upskilling, 53% of respondents believe it is the employer's duty. The survey identifies key areas of interest for skill development among Malaysian respondents, including IT and tech literacy (42%), management and leadership skills (29%), AI (29%), data science and analytics (23%), and communication and presentation skills (22%).

Naeem emphasises the significance of training in talent attraction strategies, particularly in the era of AI integration in workplaces. He stresses the need for organisations to prioritise learning and development initiatives to align with employee expectations and attract top talent with shared values.