According to the latest findings from the 2024 Hays Asia Salary Guide, a significant shift in employee priorities has emerged in Malaysia, with skilled professionals increasingly prioritising new challenges over salary packages when considering job opportunities.
The comprehensive survey, which polled 2,014 skilled professionals and 832 employers across Malaysia, shed light on evolving trends in the labor market.
Notably, the survey revealed that a desire for new challenges has surpassed low salary packages as the primary reason for employees seeking new opportunities within the next twelve months.
Conducted over six weeks in late 2023, the survey highlighted a notable departure from the findings of a similar study conducted in 2022, which identified low salary packages as the primary driver behind employees’ decisions to leave their current jobs.
Moreover, the survey underscored the growing significance of flexible work options in retaining talent, with employees who chose to stay citing this as the most important factor influencing their decision.
Flexible work arrangements were deemed even more critical than salary considerations, emphasising a shifting paradigm in the Malaysian workforce.
Among employees who remained committed to their current employers, good work-life balance and positive relationships with managers and colleagues were ranked as the second and third most important factors contributing to their decision, respectively.
Hays Asia, Managing Director, Marc Burrage emphasised the importance of fostering a healthy working environment and aligning organizational values with employee expectations. He noted that leaders must engage in meaningful discussions with their workforce to understand evolving priorities and challenges, while employees must seek opportunities to enhance their value amidst periods of disruption.
The release of the 2024 Hays Asia Salary Guide provides valuable insights into salary trends and sector overviews across Malaysia, China, Hong Kong SAR, Japan, Singapore, and Thailand.
Drawing on real data and comprehensive surveys, the guide serves as a valuable resource for both employers and skilled professionals navigating the dynamic landscape of the Asian labor market.
As the workforce landscape continues to evolve, collaboration and adaptability will be essential for both employers and employees to thrive in an increasingly competitive environment.
The 2024 Hays Asia Salary Guide serves as a roadmap for organisations and individuals alike, guiding strategic decision-making and talent management practices in pursuit of sustainable success.
