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COVID-19: One-third of staff surveyed in Malaysia faced a pay cut of more than 30%

 in All markets  by Priya Sunil

COVID-19: One-third of staff surveyed in Malaysia faced a pay cut of more than 30%

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What is the effects of COVID-19?

  • With COVID-19 impacting businesses in one way or another, employees have no doubt had their own lifestyle impacted – be it through salary reductions, job losses, temporary layoffs, and more.
  • In fact, in Malaysia, a recent survey by JobStreet revealed that close to half of the respondents (48%) have faced a negative impact on their salaries and remuneration.

What is the salary reduction rate?

  • Of these, one in three had even reported a salary reduction of more than 30%; and in light of such matters, most employees expressed concern about both their finances and job security. These concerns have resulted in a decline in job happiness, particularly in those working in service-oriented sectors and those with young children. Additionally, employees working for small and medium organisations had also rated their job happiness as lower.
  • Apart from the above, close to seven in 10 employees have experienced an increased scope of work as a result of COVID-19’s impact on their business, and this was more common among higher-paid employees in larger firms (68%).

Which sector(s) has been affected the most?

  • The education sector faced this the most (+54%), followed by the manufacturing sector (+45%), due to the increased need for remote learning and greater demand for goods.
  • On the other hand, employees in both the hospitality/catering sector  (+45%) and architecture/construction sector (+36%) experienced a decrease in their scope of work.
Photo / 123RF

This article was first published in Human Resources and is reproduced with permission. 
Original can be found at https://www.humanresourcesonline.net/covid-19-one-third-of-staff-surveyed-in-malaysia-faced-a-pay-cut-of-more-than-30