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If you want to retain your staff in Malaysia, consider giving them a pay raise.
According to a recent survey conducted by JobStreet.com, 98% of 1454 employees surveyed expressed the need for a pay increase of 5% to 50%.
The survey added that this demand could have been fuelled due to the implementation of Goods and Service Tax (GST) in Malaysia in April
90% of the local employees have disclosed that they are unable to cope with their daily expenses.
In fact, 24% of them have already had expenses problems even before GST came into effect.
The survey also found that of the 490 employers polled, 41% of them have encountered increasing demands in staff wages since the GST implementation.
However, only 19% of them have offered increments.
“The weight of GST has prompted significant changes in the daily routine of these survey respondents. More than half of them at 56%, said they have minimized having lunch with their colleagues, while 47% of them started packing food from home. Some have also resorted to other frugal activities, such as utilizing the pantries more frequently and carpooling to control their expenses.”
Additionally, 63% of respondents divulged the need for a petrol allowance in order to aid in the mitigation of the pinch of the new imposed tax.
Some 35% of respondents are also considering a change in jobs while another 33% are looking into alternatives such as part-time or freelance jobs to help alleviate their financial burdens.