PwC: Half of M’sian employees believe their employers will not survive beyond next decade without transformation

Up to 51% of Malaysian employees believe their organisations will not survive more than 10 years from now, according to the latest findings in PwC’s Global Workforce Hopes and Fears Survey 2023 released on Wednesday (June 21).

(The Edge) – The figure is aligned with 51% of Malaysian chief executive officers polled in PwC’s 2023 CEO survey on the economic viability of their companies in a decade, reaffirming the urgency for business leaders to act now on long-term transformation.

Malaysian employees are also more likely to quit than they were last year, with 28% of those polled likely to change employers in the next 12 months, versus 16% last year, displaying a readiness to test the job market if their needs are not met.

Meanwhile, 47% of local respondents expressed an interest to ask for a pay raise, and 38% are keen to ask for a promotion, underscoring the need for a more holistic reward strategy by employers amid current cost-of-living concerns.

Similarly, half of the Malaysian respondents believe that the skills required for their jobs will undergo significant changes within the next five years, so if employees don’t anticipate or understand how their job requirements might change, they may not be adequately prepared for the future.

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