COVID-19 is most probably the greatest game changer for Malaysia’s technology scene.
Financial Technology (Fintech) is a key area which will see a boom in 2021, especially in digital wallets and virtual banking. The four potential areas of technology growth are cybersecurity, Software-as-a-Service (SaaS) conferencing solutions, e-commerce, and Internet of Things (IoT). Aligned with our projections on market growth, experienced talent in cybersecurity, app development, DevOps and digital marketing would be highly sought-after in 2021.
Fahad Naeem, Head of Operations at Randstad Malaysia said, “Technology is both an enabler and a driver for 2021. You can use technology to enable remote working or to create new business development opportunities for your organisation. Successful companies are those that are not afraid to push the boundaries to explore uncharted territories. No doubt there are scrapped ideas and failed projects, but it is what companies are able to learn from these experiences that are most valuable. It helps them be more laser-focused, informed and better prepared to make the next product or service better.”
Small-and-medium enterprises (SMEs), which make up 90% of all businesses in Malaysia, can leverage new government initiatives and grants to adapt and digitise their operations to sustain in the ‘new normal’. The Malaysia Digital Economy Corporation (MDEC) also offers the SME Business Digitalisation Grant and the 100 Go Digital scheme to help relieve the cost of digitalisation.
2021 labour and salary trends for technology professionals
Given the current climate, we anticipate that jobseekers will be more conservative when it comes to shifting jobs in 2021. The ‘pull factors’ have to be extremely compelling for the individual to consider the job. Some of the most common factors that candidates currently seek are corporate financial performance, workforce changes in the past few months as well as the organisation’s long-term investment plans in Malaysia.
Due to the surge in talent demand, app developers and cybersecurity experts can expect up to a 20% salary increment when switching employers in 2021.
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