KUALA LUMPUR (July 11): More than 63% of employers have gained a more optimistic outlook on hiring after the 14th general election (GE14) and 36% of these employers are considering a 3% to 5% salary increment, according to a survey by Jobstore.com.
The job distribution platform said 48% of Malaysian employers indicated an increase in hiring activity, a 12% increase when compared to the period before the May 9 national polls.
However, 15% of employers surveyed said they will maintain the same hiring level after GE14.
The survey also shows the growing confidence correlates with an increase in job postings — an 11% increase after GE14, in which executive level job postings contributed 5% to overall growth.
Jobstore.com Malaysia’s country manager Carmen Chong said employers are seen sharing a more optimistic outlook towards the job market, after GE14.
“The key drivers of this sentiment are the rise of the confidence on the economic growth, expansion of local businesses and entry of foreign companies that will lead to job creation and the need for diversified skills,” she said in a statement.
Therefore, both hiring activities and salary increment are expected to pick up after GE14, Chong said.
It is also important for employers to find a balance between employees’ desired benefits and offered benefits, to be able to retain and attract talent as salary increment is just the first step to attract potential talent, she added.
Besides salary increment, the other top three benefits desired by employees are medical insurance, transportation allowance and retirement funds.