Despite a conservative salary outlook, 60 per cent of candidates in Malaysia expect to receive a salary increase of more than 6 per cent yet just 34 per cent of employers in Malaysia plan to offer such an increase, according to research carried out by recruiting experts Hays in Malaysia.
The annual Hays Salary Guide asked more than 1,200 employers about their salary intentions. Overall, 55 per cent plan to award salary increases of 3 to 6 per cent while 11 per cent intend to award pay increases of up to 3 per cent.
Of the 221 Malaysian candidates taking part in a recent Hays online poll on salary expectations, 11 per cent expect to see a pay increase of nil to less than 3 per cent hit their pay packet while 29 per cent expect an increase of between 3 and 6 per cent.
“Employers are looking to maintain costs where possible,” explains Chris Mead, Regional Director of Hays in Malaysia and Singapore.
“For candidates this means looking at the opportunity for professional growth offered by a potential employer and not just the salary. This will help you position for promotion once inside the organisation to command greater salary increases down the track,” says Chris.
“The potential for salary increases moves up and down as economic conditions change so it is important not to overreact to salary trends.
“Employers also need to tread carefully in this market and ensure they are selling the full range of the benefits they offer employees when they are interviewing job candidates.
“Open and honest communication with existing and potential employees regarding salaries and benefits is very important to help bridge the gap in pay expectations,” said Chris.
Hays is located in Kuala Lumpur at Suite 4 & 5, Level 23, Menara 3, Petronas, Kuala Lumpur City Centre. Phone +60 3 2786 8600 or email firstname.lastname@example.org
Hays, the world’s leading recruiting experts in qualified, professional and skilled people.
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For further information please contact Chris Mead, Regional Director of Hays in Singapore & Malaysia, on 6223 4535 or email@example.com