JobStreet survey shows Malaysians prioritise salary and compensation when joining a company

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JobStreet Malaysia has revealed that Malaysians’ top priority when joining a company is salary and compensation.

In a recruitment study released by JobStreet Malaysia, Laws of Attraction showed that 16.1 percent from the survey done prioritises salary and compensation while another 12.7 percent looks into work-life balance.

Another 12.5 percent of the survey prioritised career development and the rest 11.1 percent leaned towards job security.

The study revealed the thinking driving four generations of jobseekers from Gen Z (aged 18-23), Gen Y (aged 24-34), Gen X (aged 35-54) up to Baby Boomers aged: (55-65).

Majority of Malaysians in the workforce are currently from Gen X and Gen Y, which comprises 45 percent and 40 percent respectively.

The key drivers also differ according to industries. Salary and Compensation are high priorities for the finance and consulting (IT) industries, whereas work-life balance is important for advertising and IT industry. For talents in the auto, electronic & manufacturing and those in oil & gas, they are driven more by career development.

During the current challenging time, Jobstreet further stated that organisations are facing issues with retaining talent due to cash flow and income issues.

“With the current economic pressures brought about by the Covid-19, more than ever, employers need stronger recruitment and retention efforts. This is where data and local insights are important to understand what Malaysian organisations and workers need to form teams critical for their economic recovery after the pandemic. The Laws of Attraction harnesses insights on important motivators across four generations of talents. These insights provide a clearer overview for an organisation and recruiters to attract and retain top talent,” said Gan Bock Herm, country manager of JobStreet Malaysia.

“With four generations working together, organisations and recruiters need to pay attention to the subtleties of multi-generational cooperation so that the organisation can successfully maximize integration, collaboration and engagement toward business recovery as well as sustainability,” he further urged.

Laws of Attraction study found that 34 percent of Gen Z find it acceptable to have interviews through video calls than other generations, as compared to Gen Y at 32 percent and Gen X at 30 percent. For contrast, just 19 percent of Baby Boomers found video interviews acceptable.

Additionally, the survey also reveals 72 percent of Gen X prefer to work from home, closely followed by Gen Y with 71 percent, Gen Z trails with 64 percent and Baby Boomers at 66 percent. Malaysians are receptive toward working from home or remotely, given the higher than 50 percent approval rating from all generations.

 

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