: Employers’ optimism is up following the stronger growth of 14.2% in the Malaysian economy in the third quarter of 2022 and next year’s hiring activities should be higher, says online employment platform JobStreet Malaysia.
“Over a third of the companies we spoke to are actively hiring personnel, so this scenario is progressively becoming an employee’s market,” JobStreet Malaysia managing director Vic Sithasanan said in a statement. JobStreet Malaysia said the nature of work has also been changing, with at least 59% of companies now choosing to maintain or increase the number of contract/temporary positions, with only eight% of companies planning to reduce their dependence on such workers. This is primarily due to companies saving on staff costs, as well as finding it difficult to recruit either suitable or qualified permanent full-time staff.
On the employees’ side, 80% of candidates turned down job offers in favour of other alternatives that may have provided better benefits packages. Over 70% of companies are providing their employees with a performance, guaranteed or contractual bonus, with the median bonus of one to two months. The top benefits related to work-life balance that companies provide are a five-day working week , everyday casual wear dress code and early leave on festive days .