Fresh graduates and first-time job seekers need to brace themselves for stiff competition amid the economic downturn caused by the pandemic.
The Malaysian government aims to fully reopen the economy by October earliest, based around recommendations by the National Recovery Council.
Some 580,000 businesses, representing 49% of the SME sector, are at risk of failing by October this year if they are not allowed to open up operations by then.
Under the proposal, business owners and workers will have to be fully vaccinated and undergo a weekly COVID-19 swab test.
Maxis explains how it is actively playing a role in building talent for Malaysia, particularly in the key areas of digitalisation and emerging technologies.
Employers are also advised to set up a dedicated safety department at the workplace and appoint a safety office at the work site.
The payout will be on top of the RM$1,000 assistance which was credited to the companies’ bank accounts in mid-June this year.
The Malaysian Employers Federation also proposed the set up of a platform to record, monitor and report adverse events related to the COVID-19 vaccinations.
The programme is to be implemented for four months from August 1st, and would be open to all economic sectors in the first two months.
The alliance urged the government to change its strategy as very little improvement has been made with regards to the COVID-19 case daily tally.
The Malaysian Employers Federation (MEF) has called on the government to penalise businesses not following measures for pandemic control.
The funds have been channelled to 75,262 employers, allowing them to maintain employment of 659,066 workers.
The facility aims to provide relief and support the recovery of SMEs in the services sector, and brings the total allocation to RM$6 billion.
The government’s guidelines stipulate that only 60% of employees in selected sectors can report to the office.
Some RM$500 million would be allocated to the unemployed, benefiting around 1 million recipients who will each receive RM$500.
A survey revealed that only 16% of SMEs expect their businesses to recover only in 2023, citing movement restrictions as dampening business demand.
The Ministry of Human Resources has urged workers and employers affected by the pandemic to apply for benefits under the Employment Insurance System.
The government still has a balance of RM$6 billion for its wage subsidy programme, which can guarantee wage payments for 2.7 million workers.
The digital system will be able to automate and combine various payroll, compensation and deduction functions into one simple application.
Enforcement authorities create more confusion, instead of allowing employers to focus on carrying out their duties, said the MEF president.
This follows after the nation extended its movement control order (MCO) 3.0 for another two weeks from June 15 to June 28.
The employers' group has urged the government to provide a moratorium on compulsory contributions to tide small businesses through tough times.
It proposed a one-month state of emergency where all economic activities are halted, while essential services continue to operate at 50% capacity.
Companies participating in the programme that sees their employees vaccinated need to pay for the additional costs involved.
Bank Negara Malaysia has facilitated around RM12.06 billion (US$2.9 billion) worth of soft loans for SMEs which have been approved by local banks.
The number of unemployed persons in April totalled 742,700 persons, falling by 0.1 percentage point or 10,500 persons month-on-month.
Staff are encouraged to report incidents where their workplace exceeds the 60% capacity, or they are asked to work despite the need for quarantine.
SMEs adversely hit by the full lockdown can now enroll in the Targeted Repayment Assistance (TRA) programme offered by banks.
The government has been asked to extend the wage subsidy programme throughout all phases of MCO and [Conditional] MCO, or at least till December.
RM$2.1 billion (US$0.51 billion) will be distributed to lower-income workers who earn less than RM5,000 (US$1,212) each month.