More people actively looking for a new job in next 12 months - Survey

The 2020 COVID-19 Labour Pulse Survey by Randstad has revealed that more than one in two local respondents (58 per cent) said they intended to look for a job in the next 12 months.

The global leader in the Human Resources services industry surveyed 531 locally-based employees between June 26, 2020 and July 5, 2020, to understand the local workforce’s sentiments about the employment market this year and the challenges and experiences of job seekers thus far.

The survey also found that out of 58 per cent of respondents, 24 per cent are looking to change their career or industry that they work in; 13 per cent said their skills and experience no longer meet their current job requirements and 15 per cent mentioned they have been retrenched.

Others have cited reasons related to the salary for their intention to switch employers, with 26 per cent of respondents have reported taking a pay cut or a pay freeze, either indefinitely or for a temporary period; 24 per cent mentioned dissatisfaction with their current salary.

In addition, 72 per cent of all respondents are willing to take on professional contract or project-based jobs in the current labour market conditions.

Out of the 28 per cent who are not inclined towards taking on contracting roles, 70 per cent cited the lack of job security and stability as reasons why they would rather wait for a permanent offer instead.

Randstad’s managing director (Malaysia and Singapore) Jaya Dass said the COVID-19 pandemic has seen companies investing in building their digital infrastructure and network, leading to a great number of jobs being digitised or displaced as a result.

"Employees whose job responsibilities have been drastically altered to meet new demands may be motivated to join other companies where their skills and experience are still relevant.

"Some may even switch industries and careers altogether and will look for job opportunities that are perceived to be more recession-proof or can provide a greater sense of job security, such as in healthcare and technology. We can expect to see more movements in the job market once the economy picks up and new job opportunities arise," he said in a statement.

Dass said, though contracting jobs are not what Asian talent usually would go for due to its perceived lack of job security and stability, many are starting to see it as a viable option during these trying times. - BERNAMA