Malaysian employees have voiced concerns about financial and job stability amid a softening economy laden with worldwide business restructuring, increasing operating costs, and high interest rates, according to talent agency Randstad Malaysia.
A market in Kuala Lumpur, Malaysia (Photo: AFP/VNA)
Kuala Lumpur (VNA) - Malaysianemployees have voiced concerns about financial and job stability amid asoftening economy laden with worldwide business restructuring, increasingoperating costs, and high interest rates, according to talent agency Randstad Malaysia.
Ranstaad said on April 12 that 60% ofthe respondents in its survey are concerned over losing their jobs in Malaysia.
Though 80% of the respondents areworried about how the economic uncertainty would impact their livelihood, and 86%retain strong confidence in their employers to provide them with security.
With more news of businessrestructuring and lay-offs around the world announced, concern about joband income stability also mounts in Malaysia, said Randstad Malaysia countrydirector Fahad Naeem.
In the survey, 65% of the respondentssaid that they will not accept a new job offer if it does not give a significantpay increment.
Insteadof holding off their career decisions until the economy is stable, the surveyrevealed that people are actively looking for jobs to sustain their ability topay for essential services and pursue their desired lifestyle./.
The Bank Negara Malaysia on March 29 forecast that the country’s economy is projected to grow between 4-5% in 2023, amidst challenges rising from slowing global growth.
The Malaysian government remains committed to implementing policies that can bolster the nation’s economic growth and competitiveness to attract funds that will strengthen the international reserves and the ringgit.
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