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ARTICLE

Has the 'Great Resignation' Hit Malaysia

By Dina Murad 28 November 2021

In the wake of Covid-19, workers around the world are quitting their jobs in large numbers due to evolving work preferences, frustrations with their current working environments, and looking for better career opportunities elsewhere. In September, a record 4.4 million people, or 3% of the workforce in the United States, resigned. Across the United States and Europe, dissatisfied employees are voluntarily quitting their jobs in a movement known as the Great Resignation or the Big Quit, even as economies worldwide face downturns during the long pandemic. A similar pattern of resignations can also be seen in China, although the reasons for the situation in China may be exacerbated by an ultra- stressful working culture that demands long hours from employees.

Malaysia too has suffered over the past year, with Covid-19 having an immense impact on our social and economic behaviours. Last year, the unemployment rate was 4.5%, the highest in almost three decades. Malaysia's economy also contracted 5.6% in 2020, a situation not seen since 1998 during the Asian financial crisis. There is no doubt that many workers were retrenched, terminated or made redundant as businesses grappled with financial losses due to the Covid-19 downturn, but have Malaysians also embraced the Great Resignation and willingly left their jobs? And if so, what drove them to it?

Local trends

According to the 2021 Employee Movement and Retention report released Employment Hero, Malaysia's Covid-19 economic recovery has triggered a nationwide employee movement. The study by the human resources and people management platform found that 61% of Malaysian workers plan to find a new job in the next year, with younger employees aged 35 and under among the most prepared to move on from their current workplaces. Interestingly, the survey which polled 1,004 Malaysian employees found that the majority of employees like (45%) or even love (24%) their role, with only a minority (4%) saying they disliked or hated their job. This suggests that the work itself is not the issue.

Instead, the top reasons for leaving are a lack of career development (36%), a lack of appreciation or recognition (27%) and a lack of training opportunities (26%). Other reasons include not

receiving pay raises, management woes, feeling overworked, and a lack of flexibility. Financial tolls also account for the desire to resign. Three-quarters (74%) of those who received a pay cut during Covid-19 say they will be looking for a new role within the year. When asked what would encourage them to stay in their current role, 45% of respondents said a salary increase; 32% want more rewards and recognition; 28% selected a promotion; 28% want the introduction of a bonus structure, and 24% would like flexible working options.

Reasons for leaving

While the above study pointed out limited career growth, lack of appreciation, bad management and low pay as reasons for people to move jobs, there are also other factors at play that should be taken into consideration. For example, some Malaysian workers resigned from their companies to start new businesses, especially as the Government announced grants, funding, and micro-credit schemes to support entrepreneurs and boost economic recovery post-Covid. However, people don't just leave jobs for career change or advancement. As schools and childcare facilities were shut down or semi-operational during the earlier stages of the pandemic, many Malaysians, especially women, left the workforce to take up unpaid care work at home. The uneven burden on women to shoulder the majority of care work will have an even more negative impact on women's participation in the labour force, which in 2018 was only 55.2% compared with men at 80.4%.

Work flexibility remains an important factor for workers. Similar to the Employment Hero study, the EY 2021 Work Reimagined Employee Survey, which tallied more than 16,000 employees across 16 countries including Malaysia, found that nine in 10 Malaysians want flexibility in where and when they work. Almost half of the Malaysian respondents said they would quit their jobs if they were not provided post-pandemic flexibility. Human Resource practitioners have to consider an effective employee value proposition (EVP) for the post-pandemic.

(A) Evaluate the challenges mentioned in the above article and explain FOUR (4) factors that would influence them to resign and start a new business. (8 Marks)

(B) Discuss FOUR (4) ways how to resolve the employee engagement crisis during the Pandemic so that employees will feel valued, included and connected. (12 Marks)

(C) In your opinion, is it possible for companies to improve employee value proposition (EVP) for the post-pandemic workforce? Justify your answer with FIVE (5) reasons. (10 Marks)

SUBJECT; Seminar in Human Resource

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