About 90% of the Malaysian workforce can’t cope with the additional expenses incurred following the implementation of the goods and services tax (GST), according to a recent survey by career resources site Jobstreet.com.
The weight of the consumption tax also prompted significant changes in the daily work routines of the respondents, with more than half of them, 56%, minimising going out for lunch with colleagues. About 47% of them had started packing food from home.
“About 35% of the respondents are considering changing jobs to better cope with GST, and 41% of companies had received increasing demands in wages since GST,” Jobstreet said.
However, only 19% of the companies had offered salary increments.
“Seeing that salaries are a top priority for most people, Jobstreet.com has introduced a Salary Matching feature that matches candidates to the salaries that they want,” Jobstreet’s country manager Chook Yuh Yng said.
A total of 1,454 employees and 490 employers had participated in the survey, it said.
GST came into affect on April 1, as a replacement to the sales and service tax (SST).
But the broader tax base had led to complaints of higher goods prices and higher cost of living, which was already a concern among Malaysians before the new tax system came into effect.
More than 75% of employees surveyed say they need at least a 10% salary hike to cope with the higher cost of living, but some 63% also want a petrol allowance to be included to their monthly remuneration. – Infographic by Jobstreet, June 29, 2015.
news source & image credits: themalaysianinsider.com