More than two in five (43%) of Malaysian employees feel their jobs are at risk due to an increasingly digital economy. This comes despite Malaysia being one of the top three countries in Asia Pacific with high digitalisation awareness, with 73% expecting greater use of technology in the workplace.
This is according to a study titled "The Drive for the Digitally-enabled Workforce" conducted by enterprise cloud applications company Workday and global market intelligence firm IDC, which surveyed over 1,400 employees from eight countries across the region, including Malaysia, Singapore, Hong Kong and Japan.
Despite high digitalisation awareness, 37% of Malaysian employees feel they do not have the right skills to compete in an increasingly digital economy, while 44% of Malaysian employees feel their managers are not proactively engaging them about digitalisation to future-proof their careers. Meanwhile, South Korea (78%) and Singapore (74%) were also among the top three countries with high digitalisation awareness in Asia Pacific.
According to Jasie Fon, managing director of Workday Southeast Asia, the research shows that there will be growth in every industry driven by digitally enhanced offerings, operations and relationships. "This wave of digitalisation brings both new opportunities and threats. Businesses in Malaysia must invest in training and reskilling initiatives to ensure their employees are prepared for the challenges ahead," she said.
Additionally, Malaysia was ranked as having among the highest turnover rates in the region, with 38% of employees likely to switch jobs in the next 12 months. Having a positive work-life balance (15%) balance is the main driver for happy and engaged employees, followed by positive work relationships with colleagues and managers (13%). Doing work which leverages on employees' strengths, experience and capabilities (12%) was also one of the factors for employee retention. On the other hand, better pay or reward (23%), better career prospects (17%) and work-life balance (14%) were the main pull factors for switching jobs.
Respondents were primarily professionals (36%), clerical workers (31%), service and sales workers (10%) and legislators and senior officials (7%).
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