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Malaysian firms take up to 3 years to offer promotions to staff

JobStreet.com's latest Job Promotions Report reveal that while 9 in 10 Malaysian employees are offered added responsibilities and increased job scopes, only 43% are formally promoted and just 6 in 10 receive job upgrades.

This mismatch may be due to the current scarcity of good talent and the resource crunch to hire more. The average salary rise for promotions is 17%, and only half (50.4%) have received additional promotion benefits – the top three being additional allowance and bonuses as well as increased days off.

Companies are already looking to non-monetary benefits to address the limited budgets for promotions, seemingly adopting a ‘doing more with less’ theme, to optimise costs wherever possible.

Malaysians rated fairness of promotion poorly and promotion outcome unsatisfactory, as local firms take 35 months to offer promotions, longer than the region's 33 months period.

HK jobstreet

ALSO READ: 4 tips for getting a raise

Lead photo/ 123RF Infographics/ JobStreet.com

 

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