According to World Bank findings in 2009, it was estimated that up to 1.4 million Malaysians were currently living overseas. One in every ten skilled Malaysian employees chooses to leave the country simply because of the less attractive salary and benefits offered in the country. The World Bank identified that the starting salary in Malaysia is nowhere as attractive as developed countries as overseas.
The recent research by Employment Hero – a complete people, payroll and benefits solution for small to medium-sized businesses also addressed the same problem where it has revealed that 72% of young Malaysian employees are considering leaving the country for seeking better employment opportunities.
Malaysia recorded the highest number of talents considering leaving the country
In the 2021 Employee Movement and Retention Report, it said the number which is derived from a total of 1,004 respondents is significantly higher than Singapore by 55%. The main reasons behind it are better pay and career prospects opportunities.
Employment Hero co-founder and chief executive officer Ben Thompson emphasised that the pandemic has given employees many reasons to change direction in their careers or venture overseas as the world opens up.
He said that it is crucial to address this issue as 24% of young Malaysian employees say they love their job and 45% say they like it. However, most of them have already planned to leave their jobs.
“This is a problem for local employers and should prompt many to reassess their policies, working culture and retention strategies,” he said.
Some of the reasons are lack of career development, lack of recognition and lack of training opportunities
The Employee Movement and Retention Report noted that 61% of employees surveyed are planning on looking for a new role within the next 12 months which marked as the highest rate out of all countries surveyed – followed by Singapore 59%, Australia 48%, New Zealand 50% and the United Kingdom 55%.
Some of the reasons that contributed to talents leaving their organisation are lack of career development by 36%, followed by lack of appreciation or recognition by 27% and also lack of training opportunities by 26%. Other than the top reasons are no pay rise, management woes, feeling overworked and a lack of flexibility.
List of countries that Malaysians rate as the best countries to work in
1. United Kingdom
The UK is in the top 10 highest-paying countries and is one of the best to work in. The UK is one of the most powerful world centres in terms of finance, IT, digital and science innovations and also AI. Even though the unemployment in the UK is low, the skill shortage is pretty drastic. Industries in need of highly skilled professionals and they are seeking them from all over the world. If money is your primary reason to look for a career abroad, then the UK is definitely high on your list.
2. Australia
Australia offers the second-largest expat package in the Asia Pacific. Australia is constantly looking for talents of certain professions. Besides, the immigration procedures for foreigners working in Australia are quite clear. However, do mind about their taxes as it will eat a lot of your package.
3. Switzerland
Switzerland is well known as a high wealth centre and the financial services industry is a big employer there. Switzerland is recorded as one of the highest paying countries in the world. However, the cost of living is also high which is one of the cons of living in Switzerland. But, solid carer opportunities and high living standards are worth it.
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