While 50% of Malaysian employers expect to increase headcount in Q1 2016, these employers are also increasingly concerned about retaining their existing employees.
According to a recent survey by JobStreet.com, around one in three employers have admitted that their top employee concern was retaining valuable talent.
This worry was reflected across all industries, regardless of company size.
“Employers should constantly look for innovative ways to attract and retain employees, as high employee turnover can impact companies in terms of productivity and profitability,” said Chook Yuh Yng, country manager of JobStreet.com.
Apart from retaining valuable talent, 24% of employers revealed that one of their biggest challenges was increasing employee engagement and teamwork.
Another challenge reared its ugly head in the form of maintaining employee productivity (23%) followed by recruiting new top performers at 15%.
The 4 key concerns of Malaysia’s employers in Q1 2016 are:
1. employee retention
2. increasing employee engagement and teamwork
3. maintaining employee productivity
4. recruiting new top performers
“It is crucial for employers to hire more culturally fit and like-minded candidates, who are able to embrace the company’s values and organisational norms,” she said.
Additionally, the survey revealed that the improved hiring activity in the local market is expected to provide encouraging signs for candidates as the hiring season peaks in the month of March.
“Peak hiring happens in the month of March, as it has become a seasonal trend for employees to change jobs right after receiving their bonuses, prompting employers to increase their hiring activities in order to fill those vacant positions,” Chook explained.
The majority of companies across all sectors are hiring, with the top sectors being manufacturing, banking and financial services, construction, computer and information technology and retail.