Photo - Chook Yuh Yng, Malaysia Country Manager, JobStreet
According to online jobs platform JobStreet's Q2 2016 Outlook survey, the current tough economy has affected Malaysian businesses with 46 percent of HR respondents reporting that their businesses have been taking a hit in the past few months.
Commenting on the findings, JobStreet's Malaysia country manager Chook Yuh Yng said when asked what the contributing factors were, 32 percent of the respondents said it was because of the weak Ringgit, while 16 percent believed it was due to inflation and 11 percent linked it to the slump in oil prices.
Chook said 54 percent of the respondents said these factors have led to a review of their company expenditures, while some are considering downsizing.
She shared one of the responder comments, which said: "We had to reassess our company's expenses to determine if we should shut down our non-profitable outlets and rearrange our business structure."
However, Chook said employers' hiring intentions remained the same as the previous quarter with 50 percent of employers expecting to increase their hiring, 39 percent expect no change and 11 percent expect a decrease.
Some sectors see growth
"While some businesses may have been negatively impacted, certain sectors such as Construction, Retail & Merchandise and Computer & Information Technology are still seeing growth," she said.
"We have more than 27,000 jobs available on our website, having said that, jobseekers should remain positive and make sure that their JobStreet profiles are updated so that they don't miss out on opportunities," said Chook.
A total of 475 HR professionals across various industries in Malaysia participated in JobStreet's outlook survey.
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