6 in 10 Malaysians experience pay cuts, amongst other impacts of COVID-19

By ANIS FARHANAH MALEK
anisfarhanah@dagangnews.com

KUALA LUMPUR 2 March - About 6 out of 10 Malaysians were affected by COVID-19 in terms of pay cuts, a difficult job search and reduced working hours, according to a study by LinkedIn.

This has likely led to a less optimistic economic outlook amongst Malaysians, with only 21% expecting the economy to improve over the next 6 months and even fewer (19%) expecting their financial situation to improve over the same period, said the study.

LinkedIn said, despite the bleak economic outlook, there were some positives as Malaysians sought new opportunities including starting their own business (23%), providing safety support items such as sanitisers and masks to their communities (33%), with women leading the way.

Actively seeking mentors (28%), building or nurturing a network (23%) and mentoring others (21%) were also key opportunities pursued by Malaysians, it noted.

Vice President, Learning and Talent Solutions, APAC, LinkedIn, Feon Ang said, many continue to struggle from job loss and job instability since COVID-19 hit the global about a year ago.

“Yet it is heartening to see that people have also turned their focus towards helping the community.

 “This is also a journey that we are working towards at LinkedIn because we believe in the power of community in helping others get back on their feet.

“We have also stepped up efforts to initiate mentorship opportunities for job seekers facing more barriers with our LinkedIn Coaches and Network Gap Alliance,” said her in a statement regarding the study.

LinkedIn, the world’s largest professional network has launched LinkedIn Opportunity Index 2021.

The annual Index is a composite measure that seeks to understand how people perceive opportunities and the gaps that stand in the way of achieving them. 

This year’s research looks at the impact of the pandemic on Malaysians’ access to opportunities and it spotlights the gender gaps that continue to exist in the workplace, and how these affect women’s opportunities for career development. 

The study shows that over 26% Malaysians started looking for opportunities to move to a new career path.

Learning new soft skills including creative thinking, problem solving and effective communication was ranked as the first learning opportunity people were looking for in Malaysia (31%), and this was sought after more by Gen Z, students and career starters, it noted.

Learning new hard skills like business analytics, artificial intelligence and cloud computing were ranked second (30%) and were sought after by Gen Z, millennials and students, the study found.

Meantime, 78% of Malaysians have worked from home, and 34% of women feel satisfied with current work home arrangements, compared to 31% of men, LinkedIn said.

“While many women in Malaysia now have the flexibility to work from home, they face other barriers when it comes to achieving opportunities, including lack of time (65%) and their financial status (64%). Lack of confidence or fear of failure (61%) and a difficult job market (60%) are also cited as barriers women face. 

“In spite of these barriers, women are prepared to work hard, but they desire equal access to opportunities as men. In fact, women see these two as among the most important aspects (80 % and 72% respectively) to getting ahead in life.

“45% of women feel they have fewer career advancement opportunities than men, and 4 in 10 feel they are paid less than men in their profession. In fact, almost 6 in 10 women in Malaysia have experienced that their gender played a role in missing out on opportunities, promotion and pay raises,” the study further noted.

Ang said Malaysia’s workforce has taken a hit due to COVID-19 across the board, women included.

The lack of time is the top barrier for women today likely due to having to juggle remote working and family responsibilities, she explained.

“We also know that women are seeking to get ahead in life, and want equal access to opportunity as men.

“As a society, we need to start changing our societal perceptions on gender. In our organisations, too, we need to level the playing field for women. When we succeed, the economy and our organisations succeed as well,” he added. – DagangNews.com