Randstad Malaysia today released the 2022 Market Outlook and Salary Snapshot Report that takes a detailed look at the economic climate and recruitment landscape in 2022.

The annual report aims to provide companies and employers with local business, labour market insights, and salary trends to guide their long-term hiring strategy.

malaysia's labour market will bounce back

It is expected that the employment market in Malaysia will recover and have a positive outlook in 2022.

Mr. Fahad Naeem, Head of Operations at Randstad Malaysia said, “Employees in Malaysia have a lot of pent-up energy after staying at home for more than 6 months in 2021. Many of them are eager to get out of the house and make lifestyle adjustments once restrictions are fully lifted and as activities return to normal.”

Workers may also have the motivation to hunt for new jobs, especially if they had planned to do so before the lockdowns and want to take advantage of the new job opportunities once businesses restore their full operations.

Some employees may be compelled to change jobs as a result of negative work experiences they have had during the lockdown, such as working with a bad manager or not having adequate support to work from home.

malaysia remains a candidate-short market

Mr Naeem explained, “Even as we anticipate that more people will re-enter the job search market, companies should not mistake it as a bigger candidate pool to tap into. Industries like technology, manufacturing as well as banking & financial services are facing hiring challenges due to the mismatch between their company’s digital growth ambition and the shortage of qualified local talent to realise their business goals.”

Due to the further tightening policies on hiring foreign workers, many employers are looking to hire skilled and digitally-adept local talent to support their digital transformation projects. In particular, there is a strong demand for tech talent in cybersecurity, blockchain, digital banking and the Internet of Things.

Many companies are also expecting candidates in other functions such as human resources, sales & marketing as well as accounting & finance to be familiar with working on digital platforms and processes. Candidates are also held to higher expectations in terms of their ability to think creatively and adopt technology to improve operations and boost productivity.

candidates are also looking for organisational value alignment on top of salary

Salary will always be an important factor in any candidate’s decision-making process. But just like consumers, candidates are also looking for other employee benefits beyond the basic salary.

key highlights of the 2022 job market in malaysia

The 2022 Market Outlook and Salary Snapshot report looks at talent analysis and new post-pandemic salary benchmarks in the following high-growth industries:

malaysia labour market 2022
malaysia labour market 2022

download the 2022 malaysia’s job market outlook and salary snapshot report.

If finding exceptional talent for your business is a key challenge or if you want to take your workforce ready for the future of work, please get in touch with us. You can also check our key areas of expertise.

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