Will this renewed interest in hiring sustain recovery?
A more positive recruitment outlook is gaining momentum in Malaysia – with a third of employers saying they plan to increase headcount this year after the onslaught of COVID-19. This renewed interest in hiring offers hope, analysts said.
Malaysia, for one, is already showing signs of bouncing back, new research revealed. Since July 2020, a number of sectors had already begun experiencing “steady recovery,” said Paul Cooper, managing director of recruitment consultancy firm Michael Page Malaysia, which led the study.
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“For example, the technology sector remained buoyant throughout 2020, with businesses placing emphasis on business intelligence, data analytics, as well as software development,” he said.
Findings from Michael Page Malaysia revealed 33% of companies are setting their sights on new talent, while 40% want to maintain the status quo. The trends suggest a decreased likelihood of companies downsizing and shedding jobs this year.
Cooper is forecasting a range of opportunities for those on a job hunt. However, most of the vacancies call for highly skilled professionals. Demand for talent in the area of semiconductors and consumer electronics, for example, “sustained the engineering and manufacturing sectors”.
“As a major producer of medical devices, Malaysia’s healthcare sector also experienced a significant increase in demand for talent from the manufacturing and supply chain perspectives, specifically those with a strong digital focus around invoicing, tracking and processing,” Cooper said.
Research showed: “The appetite for tech functions across all industries is high, especially in the commerce and financial services sectors.” But, apart from tech and fintech, other industries are also poised for growth in the wake of the pandemic.
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The firm identified global business services/shared service centres, fast moving consumer goods (FMCG), healthcare & life sciences, and engineering & manufacturing as being among the sectors “earmarked for [the] highest hiring activity”.
“Business leaders are encouraged to remain agile and adapt work practices and strategies to reflect a new working environment. Communication and trust will be key in a remote working world as will the ability to keep an eye on what will no doubt be a rapidly evolving future,” Cooper said.
