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