Malaysia is facing an aging population and rising costs, which is causing a shortage in retirement funds and resulting in more seniors looking to re-enter the workforce. According to Hire.Seniors, a recruitment portal that connects seniors and retirees to companies in need of experienced and skilled resources, there has been a 50% rise in the number of seniors registering as job seekers over the past three years. Many seniors are motivated to continue working to support themselves and their families, stay active mentally and socially, and manage the increasing cost of healthcare. The rising cost of living and inflation are also contributing factors.
JobStreet Malaysia's managing director, Vic Sithasanan, stated that the employment market for senior talent was sizable and that organizations are seeking leaders with experience, skills, and expertise. He added that senior workers are driven to remain in employment so that they can continue earning a steady income, allowing them to sustain their expenses and lifestyle, and keep their minds active by staying engaged in industry developments.Source: The Star