market outlook: e-commerce and fintech seek to drive technology growth in 2021.

07/01/2021

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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. 

download the digital copy of the malaysia 2021 market outlook and salary snapshot

 
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key highlights in the technology industry outlook in 2021

  • evolution of job responsibilities and required skills for technology in 2021. 
  • anticipated job mobility of professionals across industries and different levels of seniority. 
  • salary snapshots for 15 most in-demand jobs in technology.

read more on the talent trends in Malaysia for 2021 in other industries:

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 in technology recruitment.