"50% surveyed are intending to switch jobs during the second half of 2009"
The worldwide indication that the worst of the economic crisis is over and hints that the recovery is not far away is also reflected in Malaysia as seen in a recent survey by JobsDB Malaysia Sdn Bhd.
Around 50% of job seekers in Malaysia planned to change jobs during the second half of 2009, the survey noted. This shows that although the global financial tsunami will not be fully recovered by the year end, job seekers will still choose to change jobs rather than stay if given the opportunity to do so.
The survey was conducted by JobsDB Malaysia to collect information on the effects from economic uncertainty in the first half of 2009 on employees and their outlook for second half. Conducted through online questionnaire, 657 members registered with JobsDB Malaysia responded to the questionnaire from 5th August to 19th August.
Most of the respondents’ companies have already taken various methods to control the budget such as reduce performance rewards, reduction of daily expenses, cutting of allowances and etc. However, the report noted, fears among executives have decreased sharply in the past six months. Most of the respondents reflect a positive outlook for second half of 2009.
42% of the respondents are expecting salary adjustment during the second half of 2009, but more on the positive side, as 39% from this group expected salary increment for the second half of 2009, with only mere 4% expecting further cut of salary during that period.
This is in sharp contrast with the first half of 2009, where 60% of the responded indicated that their salaries have been impacted by the economic downturn.
Among of them, 42% of respondents indicated that they were offered no pay rises in first half of 2009, while 18% have had their pay cut, the report pointed out.
The survey also revealed that 24% responded did change their job in the first half of 2009, while 39% planned to do so but hung on to their jobs anyway. The remaining 37% stuck to their current jobs.
As for the cost control, 31 % of the respondents experienced retrenchment, and other form of cost control involves reduction of business trip, cutting of allowances and reduction of daily expenses.
Surprisingly, despite the economic uncertainly looming from last year itself, a good 26% of the respondents received bonuses, with 15% of them getting 3 months pay worth.
Having been through a tough phase, the survey affirms that the job seekers has always been cautious and are now very positive about the economic recovery and their own job prospects.
The JobsDB survey can be downloaded here
(Source: Jobsdb Malaysia)
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