The drastic changes in the local government have made a huge impact on both business strategies and the employment outlook in Malaysia. Amid the changes and temporary halts to major infrastructure projects and key national investments, the slower pace of economic growth announced by the World Bank could just be the much-needed trade-off for long-term stability.
Companies are taking this time to re-evaluate their long-term growth strategies and workforce composition. Local employees should also take this opportunity to narrow the skills gap and improve their employability through training and development.
If companies have not started on their digital transformation journey, they will definitely be doing so in 2019. Digitally-adept candidates who have niche technical skills will be highly sought after by employers who are looking to advance their technological capabilities.
Hyper-growth segments such as fintech startups and technology firms that are establishing development centres in Malaysia will increase their hiring next year to recruit high-skilled workers who can add value to the business.
Employers looking to have a competitive advantage in the war for talent should consider providing robust and relevant training courses to get the local workforce up-to-speed on market knowledge and desired skills. It is also critical for companies to not lose sight of other equally important talent attraction factors that can help foster a positive employee experience such as work-life initiative, flexible-work arrangements and career progression opportunities.
market outlook 2019: randstad malaysia
The annual report highlights key economic trends impacting Malaysia as well as insights from our leaders on key employment trends for both employers and job seekers. Sectors included in the annual report are:
- Construction & Property
- Information Technology
- Manufacturing
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