The Employment Hero Survey revealed that an astounding 66% of Malaysian knowledge workers have begun searching for additional sources of income to cope with their increased cost of living and financial struggles. This is the highest rate compared to other countries surveyed, including Singapore, Australia, New Zealand, and the United Kingdom. Recent research reveals that Gen Z and Millennials (18-35 yrs) are spearheading this trend, with nearly half of 18-24 year olds & 42% of 25-34 year olds having a side job/business.
Research has shown that a vast majority of people having additional income sources reported improved quality of life. Specifically, 77% stated that their lives had been greatly enhanced due to this additional source of income. A survey found that 78% of employees didn’t think their productivity was reduced by having different forms of income. They said this was because they could now work flexibly, both remotely and in a hybrid setting. This gives them more control over their workload and schedule.
After the world faced one of its biggest upheavals in 2020 & 2021, a majority of employees (55%) shifted back to full-time office work in 2022. This was largely due to their employers’ policy changes as 43% of them stated that it was their employer’s call for them to return. Malaysian workers overwhelmingly favor having the option to work remotely or in a hybrid arrangement at least once a week. Such arrangements offer several benefits, including improved work-life balance, greater financial stability, and being more environmentally friendly.
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The report highlighted that Malaysians feel remote working has the potential to promote DEI initiatives. People from marginalized groups stated that remote work provides them protection against discrimination, with 60% saying it has improved workplace culture for them.
Employment Hero’s Chief People Officer, Alex Hattingh, emphasized the importance of supporting remote workers’ needs, including culture, mentorship, and career development. Hattingh urged employers to adapt and engage with their workforce to attract and retain great talent.
