IT was reported earlier this month that 66% of Malaysian knowledge workers have a secondary source of income. In addition, these workers prefer working remotely, specifically in a hybrid model, enjoying the benefits of both worlds.
We should also examine the other factors that contribute to these phenomena, apart from that it eases their financial pressure:
1. Employees lack tools, opportunities to develop and upskill
Many knowledge workers are frustrated by the lack of advancement opportunities in Malaysian companies. There may be lack of investment by employers in their employees’ growth and development. Training and development programmes are lacking in approximately 60% of these companies.
According to a global survey, fewer than half of employers worldwide offer employees learning opportunities to advance in the workplace.
The retention rate of employees in companies that provide training and development opportunities is higher. Having a structured learning and development programme is a great opportunity for Malaysian employers to retain and keep their best employees.
2. Difficult to find well-paying, advancement-oriented job
The career opportunities for employees who have been employed by the same company for several years may be limited. This is common in Malaysian companies, especially among middle-management employees. Several factors may contribute to the lack of growth and advancement opportunities.
Some of these are:
a. Lack of leadership and vision from the management;
b. Employees are unable to develop the necessary soft skills and technical skills to move up in the organisation;
c. Lack of demonstrated competence among employees, especially when many qualified candidates are vying for the same position; and
d. Inability for employees to build good relationships with people who can promote them within the company.
3. Little sense of accomplishment
It has been found that higher job satisfaction is associated with greater control over one’s work. In Malaysia, about 60% of employees say they have little control over their work assignments. The management style of managers may result in lack of employee control over their work assignments. As a result, employees have little opportunity to demonstrate their knowledge and skills, resulting in them feeling that work is unimportant.
4. Degrees or certifications that cannot easily be transferred
According to Unesco (United Nations Educational, Scientific and Cultural Organisation), Malaysia has one of the highest adult literacy rates in the world.
Malaysia’s economy benefits from this as it means employers can draw from a large pool of potential employees. However, while Malaysian workers may have high levels of education, their skills may not be easily transferrable. For example, employees with degrees in education or biology could have difficulty transferring their skills to tech or engineering jobs.
5. Side-gigs provide workers with new skills, enhance their resumes
Many Malaysian workers take up side gigs to gain new skills and build up their resumes. This is especially the case with younger workers who are currently employed full-time. Most side-gigs allow workers to use the skills they already have but in different or novel ways. This can help them broaden their skill-set and feel more confident in searching for better-paying jobs down the road.
In conclusion: Value and invest in employees
If employers want to retain their employees, they must value and invest in them. Providing employees with the tools and resources they need to succeed in their jobs means providing them with opportunities for growth and advancement.
Employers can accomplish this by implementing the following strategies:
a. Hire the right people. Understanding the skills and expertise you need for your company will help you attract the right candidates;
b. Establish culture of continuous learning and development. Providing your employees with opportunities to learn and develop will help them advance professionally and provide them with a sense of purpose;
c. Maintain healthy work-life balance. You can reduce stress and burnout for your employees by proactively managing their work-life balance.
d. Transparency and effectiveness in management style. Managers need to be transparent in their decision-making, so their employees know how they are evaluated and how to advance within the company.
Melissa Norman, Founder and Managing Director, Aisling Group. Comments: letters@thesundaily.com
