The current Covid-19 pandemic has indeed caused much strain on our local companies. Multiple extension of the Movement Control Order (MCO) has caused the locals to struggle financially, even now, there are some industries that are still unable to operate.
To Let Go or To Keep?
With the falling business revenues and the challenges of conducting the business as usual, companies are compelled to respond fast: to make a swift decision on cost-cutting measures or to restructure the company’s human resources. As reported on our Covid-19 Business Confidence Survey 2020 report, 50% of our local companies are planning to reduce their employees’ compensation such as their salary and bonus; while 45% of the employers are intending to not conduct any hiring activities for the next 6 months after business reopens. This is actually a good indicator; which our local employers are actually not opting for retrenchment in order as part of their cost-cutting measure. With the new way of operating business during the post-MCO period, it is evident that the employers still require the same amount of employees to conduct the business.
As the economy reopens and most businesses are shifting their business activity, local employees are slowly hiring, which is good hope for our local talents. And with the newly released PENJANAKERJAYA incentive from the government, employers are now encouraged to conduct hiring activities. Find out more about this incentive and how you can get a chance to grab RM 1000 here.
SabahJobs.com’s Covid-19 Business Confidence Survey 2020 provides you the latest information on the current trend in the local employment market. Have the insight of our report now!