Randstad Malaysia’s Q3 2019 Workmonitor survey revealed that companies in the three countries were perceived as being able to provide higher salaries and support healthier work-life initiatives.
“These markets also have better currency exchange rates, which is appealing to locally based talent,” the recruitment agency said in a statement.
The survey also showed that youths were more willing to move for work outside of the country than senior professionals.
It said 89% of respondents aged between 18 and 34 were willing to emigrate for a meaningful career in a foreign country.
Jaya Dass, managing director of Randstad Singapore and Malaysia, attributed this to their lack of family responsibilities and ability to focus more on career development.
“Young employees are highly motivated and eager to learn new skills, meet new people and experience new encounters,” she said.
She said this also meant that local companies needed to improve their employee attraction and engagement initiatives to avoid a possible brain drain.
To mitigate the possible brain drain, Dass suggested that companies keep up with labour market changes prompted by the Fourth Industrial Revolution (IR4.0).
The shift to accommodate IR4.0 and new technology, she said, would create more skilled jobs for local talent.
“It will also create more training and development opportunities for the workforce to equip themselves with in-demand skills, particularly in new technologies.
“When this happens, the average salary benchmark will increase and workers will be able to negotiate for career progression and higher salaries,” she said.
Dass also recommended for companies to try to meet employees’ expectations on salaries and benefits as well as opportunities for career advancement.
She said this was important in light of more new companies setting up shop in the Asia Pacific, creating more job opportunities for local talent with relevant skills.
“Local talent equipped with in-demand skills will have the upper-hand to choose which companies they want to work for,” she said.
Randstad’s Workmonitor survey also showed that 21% of those polled changed employers in the past six months, and 40% showed interest in looking for new jobs.