Malaysian employees may see a 20% pay hike this year

WhatsAppWhatsAppFacebookFacebookTwitterTwitterPinterestPinterestRedditRedditGmailGmailShareShare

Malaysians can anticipate salary adjustments ranging from 3% to 20% depending on the industry, with high-growth sectors like manufacturing and technology undergoing more significant changes, according to a survey by international human resource firm Randstad Malaysia’s 2023 talent and salary outlook report.

According to the research, which was published yesterday, January 17, Malaysia’s rising inflation and cost of living have a negative influence on the ability of individuals to afford necessities and lifestyles.

It was shown that 74% of local workers gave income and perks the highest priority when seeking a new job.

As a result, businesses wishing to hire applicants with specialised talents or with ambitions to expand their personnel would need to provide a very competitive salary and benefits package to attract talent.

According to the survey, despite recent tech layoffs, businesses are still moving forward with their plans for technology recruiting, albeit cautiously given that by 2025, the digital technology industry is expected to contribute 22.6% of the nation’s gross domestic product (GDP).

Keep Reading

According to Randstad Malaysia, the number of digital job openings has also increased, from 19,000 to 56,000 in a year, and the development of 5G technology would result in the creation of 750,000 employment in Malaysia alone by 2023.

Similar to real estate, infrastructure growth in the construction sector is anticipated to increase the number of high-skilled job opportunities for local employees, but if the skills gap persists, difficulties may arise.

85% of workers in Malaysia stated it was very important for employers to give training programmes and educational development, but just 36% of respondents claimed they had gotten new training during the previous year, according to a case study and research by Workmonitor Randstad.

While Malaysian workers are aware of their skills gap and willing to upskill, the report claims that it is Malaysian companies who should make the investment in upskilling their workforce.

Katherine S

1/4 German, 3/4 Malaysian. I write, follow and monitor closely political news happening in Malaysia, and other happening news in the ASEAN region. Newswriter for the best ASEAN news website - The Asian Affairs.

Recent Posts

Korean Actress Kang Seo Ha Dies at Age 31 After Battling Illness

Kang Seo Ha, a South Korean actress passed away yesterday aged 31 and the South Korean entertainment industry is mourning.…

July 15, 2025

Indonesia U23 Squad Finalized for ASEAN U23 Cup 2025 in Jakarta

The Indonesian Football Federation has now officially settled on a 23-man list of competitors who will take part in the…

July 15, 2025

Why the UAE Is Becoming a Trusted Global Hub for Digital Payment Systems

The United Arab Emirates is not just on a path to becoming cashless - it is defining the future of…

July 14, 2025

BLACKPINK’s ‘Jump’ Reaches third No.1 on Spotify Global

K-pop sensation BLACKPINK has made history once again.The phenomenon, which is BLACKPINK's last single, "Jump," official hit number one on…

July 14, 2025

Japan’s Tokito Oda wins second Wimbledon wheelchair title

 Japan's Tokito Oda captured his second Wimbledon men's wheelchair singles title, overcoming Britain's Alfie Hewett 3-6, 7-5, 6-2 in a…

July 14, 2025

KPop Demon Hunters Movie Breaks Records with Hit Song ‘Golden’ on Spotify Charts

KPop Demon Hunters is the story of a huge animated movie success that conquered the hearts of people all around…

July 12, 2025