Malaysian employers expect improved hiring activity for the first quarter of the year compared to the previous quarters. While employers are keen on hiring, they are increasingly concerned about employee retention, reports JobStreet.com’s latest survey findings.
When employers participating in the survey were asked, “What is your greatest employee concern?” 38% of the respondents said it was retaining valuable employees. Regardless of the size of the company or sector of the market, all organisations reported having significant worry about curtailing their employee turnover rates.
“Employers should constantly look for innovative ways to attract and retain employees, as high employee turnover can impact companies in terms of productivity and profitability,” said Chook Yuh Yng, Country Manager of JobStreet.com.
Some 24% of employers stated that increasing employee engagement and teamwork was one of their biggest challenges, followed by maintaining employee productivity at 23% and recruiting new top performers at 15%.
“It is crucial for employers to hire more culturally fit and like-minded candidates, who are able to embrace the company’s values and organizational norms. JobStreet.com’s Company Reviews, works as a transparent platform that enables candidates to get first-hand feedback from the employees themselves,” Chook Yuh Yng added.
See: Malaysian Employees are increasingly concerned about Job Security in 2016
Job Market Outlook
According to the latest Job Market Outlook Survey that was conducted in December 2015, employers expect improved hiring activity for Q1 2016, due to the peak hiring season. The survey results show that 50% of employers expect to increase their hiring for this quarter.
Chook provides insights as to why the Malaysian job market is expected to provide encouraging signs for candidates, “Peak hiring happens in the month of March, as it has become a seasonal trend for employees to change jobs right after receiving their bonuses, prompting employers to increase their hiring activities in order to fill those vacant positions” she continued.
The total number of job postings in 2015 had dropped by 1% compared to the previous year. There were increased challenges towards the second half of the year, causing a 7% drop in Q4 2015 compared to Q4 2014.
The majority of companies across all sectors are hiring, with over 21,000 job advertisements on the JobStreet.com website. The top sectors are Manufacturing, Banking & Financial Services, Construction, Computer & Information Technology and Retail. A total of 432 HR professionals across various industries in Malaysia participated in this survey.
Also read: Malaysia’s Top 10 Talent Trends for 2016
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