Yes, the good news is Malaysia is recovering and it is recovering fast, but we cannot be so sure as our neighbors and the rest of the world is far from recovering this pandemic.
Having that in mind a recruitment firm based in KL has run a survey to understand the local workforce’s sentiments about the employment market this year and the challenges and experiences of job seekers thus far. What is shocking is that more than 50% of the respondent has said that they are intended to look for a job in coming months.
When we explored the details, what we found was an alarming result. Many of the respondent has either lose their job or had to bear a huge pay cut or pay freeze which made it much harder for them to adhere to their commitments.
People are aware of the new norm and many among those are willing to switch career and take up project-based jobs because they understand that many companies are now focusing on taking their business on digital platforms.
What it means to us? Well job securities aren’t secure anymore, and if anyone is only depending on their salary to make a living then they are in a questionable situation right now.
Many of us has always had this mentality of declining contracting job as we know it has a minimal security and stability but during these trying times, we urge you to consider them as a viable option.
Expenditures must cut low and savings for emergencies must increase. The uncertainty of the economy is expected to continue until at least end of next year and we at Monest urge everyone to start learning more about money, take control and explore the viable options around them.
We believe strongly that knowledge and information could save people, especially from falling victim to scams and con mans. Always research about an opportunity thoroughly before you commit to it and keep looking for advises from your close contacts that you trust.
By Suren Subramaniam | August 5, 2020