In Malaysia, there are four reasons Why Companies experience a High rate Of employee turnover
Photo by Kate. Sade On Unsplash
Ongoing challenges for a company include the difficulty of keeping employees engaged. Workplace insight was found by the Gallup survey The voluntary turnover in American businesses results in a cost of almost $1 trillion dollars
Can you confirm if it’s happening in Malaysia? Al-Suraihi et al. ’s survey from 2015. Exhibited that almost 49% of employers were impacted by employee turnover, and Malaysia is ranked third among countries with voluntary turnover of 91%. The Asia Pacific region accounts for 5% of the total
The study conducted by the surveyors The Pw CA sia-Pacific Workforce Hopes and Fears Survey for 2023 is being conducted Demonstrates that only 57% of Malaysians are content with their job prospects. The other 43% seem to be unhappy with their current job due to various reasons. What about them?
The study of these insights reveals that employees who have been around for longer periods of time are no longer an actual employee due to various factors. The purpose of this article is to investigate the factors that lead to employees leaving a company in Malaysia
Enhanced Opportunities and Career Development
Employees’ continuous search for better opportunities and career advancement are a common cause of high turnover among employers
Several wish to progress in their profession and enhance their family’s quality of life. If they believe their job is destined to be a dead end and there is no increase in pay in the near future, they are motivated to seek out better opportunities
The job market in Malaysia is fiercely competitive due to the demand for skilled workers. The employees can leverage the skills they bring to their employers and earn more money through job search opportunities
Low Salary
Hay’s Asia Salary Guide was reviewed by Malay Mail , which says that 46% of Malaysian employees were dissatisfied or very dissatisfied with their current compensation packages. When compared to other countries in Asia, it has one of the highest numbers
The daily routine can become difficult when the salary is not sufficient to sustain oneself until the next paycheck. It can be tough, especially when you have a family to attend to and have commitments to make every month
How can I earn more money if my skills are not the only factor in finding a job that pays more than my current position?
Poor Work-Life Balance
According to Md. The Malaysian Management Journal features Elias Hosen’s writing , titled “Factors Affecting Employee Turnover In Multinational Companies In Malaysia”, he talked about of how work life imbalance also plays a role when it comes to high staff turn over
There are several considerations to make, including the ease of handling workloads and the approach being taken. Furthermore, is the employee receiving any assistance from their supervisor to manage an excessive workload that could result in stress?
The ability to perform at their best is dependent on employees managing stress effectively. Employees who are obligated to work long hours and struggle with maintaining good work life balance tend to seek out better job opportunities elsewhere. The task becomes more demanding when they have a family as they must also spend time with their loved ones
Toxic Workplace Culture
The focus is not solely on career advancement and compensation, but also on the working conditions, leadership, and team dynamics. The range of workplace culture can include bullying, favoritism, verbal abuse, lack of respect, and other forms of harassment
An article published by the journal ” A 2019 survey was conducted by Jobstreet , showed that 1 in 3 employees in Malaysia face bullying in the workplace. The news of this and workplace bullying is disheartening. Preventing bullying in the workplace requires the implementation of better systems
An employee who perceives a lack of respect or value will also seek out ways to improve their work environment. The majority of one’s life is spent in the workplace, and individuals are not willing to endure a work environment that can be stressful or frustrating
Conclusion
The factors that contribute to high staff turnover should be taken into account by an employer to better prepare themselves for the hiring process. The employee must also be adequately prepared when applying for work
High levels of staff turnover necessitate the company to invest in hiring and training a new employee for their position. Naturally, there is a considerable amount of learning happening for the employee during this time to become familiar with the company
The employee transitioning to a new company undergoes probation periods, training, and familiarity with the company’s products or services. Overcrowding can negatively impact their professional prospects if they relocate too often
The job market is a dynamic place, and AI’s presence is constantly changing it. The job market demands a continuous study to ensure that both employers and employees are adequately prepared
My website www. Jobthecoach. Com
You are welcome to follow me on Linkedn Www. Linkedin. Com/in/jobthecoach