Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on September 28, 2017

KUALA LUMPUR: Some 55% or one in two job seekers in Malaysia are confident the country’s job market will get better in the next six months, driven by the technology field and shared services sector, according to a survey conducted by global recruitment specialist Michael Page.

In comparison, only some 43% are positive about the current job market. And although just 33% are positive about the present economic situation, 56% foresee that the economy will get better in the next six months.

There is “a lot of positive outlook with strong prospects in the technology field”, as Malaysia transforms into a digital economy with support from the government, said Michael Page Malaysia director May Wah Chan in a statement yesterday on what the agency described as “growing optimism” among the job seekers it polled.

Government initiatives like the Malaysia Digital Hub and Tech Entrepreneur Programme have created sound infrastructure for foreign technology companies to establish themselves, the agency noted. “This has led to market observations where we are seeing employment jump-started in the e-commerce, digital and digital marketing fields,” it said.

“Malaysia can expect more exciting growth prospects with government schemes facilitating the entrance of foreign investors particularly in fintech. The influx of digital transformation activity in Malaysia has led to other positive benefits. Existing businesses have acknowledged the importance of staying relevant in the midst of dynamic trends and, in turn, created new digital departments and headcount,” said Chan.

The logistics sector is also driving employment prospects, particularly at the last-mile fulfilment phase, the agency noted. “Transformed by Malaysia’s thriving e-commerce industry, this sector is moving from a B2B (business-to-business) to a B2C (business-to-consumer) mode, and impact has been felt most outside [the] urban areas of Malaysia, where logistic companies have partnered with grocery retail firms to deliver to home residences,” it said.

Shared services also remain one of the country’s driving sectors, especially in accounting and finance, it said, citing increasing globalisation and technology, which have allowed global corporations the ease of offshoring back-office operations to Malaysia, which will lead to more jobs being created.

But while increased opportunities indicate employment optimism, companies in Malaysia still face the recurring challenge of a limited talent pool, it said, with fierce competition for top-tier professionals.

“Hiring managers who can secure qualified hires offer strong skills development, work-life balance and personal progression. The Michael Page survey further reports that 62% of job seekers are confident of securing a job in less than three months and 47% are driven by the desire to develop new skills,” it added.

The survey polled the responses of 468 mid- to senior-level employees in Malaysia, across organisations and industries. Some 63% of them have over five years’ working experience, while 74% are aged between 25 and 50.
 

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