With millennials shown to bring about numerous digital skills due to their affinity with the evolving technological environment, employers are facing increased pressure in finding ways to retain these valued employees.
Randstad Malaysia’s latest Workmonitor survey revealed that 49% of employees in Malaysia are likely to leave their jobs to start their own business. This sentiment is highest among younger workers, with 56% of employees aged 25 to 34 years old as compared to 28% for those aged 55 to 67 years old.
Even when job security is important to an employee, a global event like the COVID-19 pandemic may motivate some people to re-think their career choices. Those who have considered starting their own business will have the time to clearly study their options and pilot some activities.
Companies are also discovering how digital technology can help improve their product and service delivery to their customers during a time when physical interactions are minimised. Organisations that have tapped on technology to pivot their business will be able to offer more jobs and growth opportunities. This business strategy will enhance the company’s employer brand, increasing their ability to attract and retain talent who want to be a part of the exciting journey.
3 in 4 feel that entrepreneurship would give them more opportunities
More than 4 in 5 Generation-Z respondents (82%) and 76% of Millennials said that being an entrepreneur would give them more opportunities.
In a rapidly evolving and uncertain climate, younger workers need to be more marketable by equipping themselves with relevant technical and soft skills that would allow them to distinguish themselves from other job seekers. Gen-Z workers are investing in their future when they take advantage of the opportunities to gain new experiences through internships and traineeships. They will be able to acquire valuable skills such as people management and the ability to communicate effectively in times of urgency in their work stints, which will create new opportunities in the future.