Hiring demand in HR roles also up, report says
Overall hiring activity in Malaysia went up eight per cent year-on-year, according to the latest foundit Insights Tracker, with the retail sector seeing a major surge thanks to adoption of sustainable solutions.
The index rose to 84 in March 2024, according to foundit, going up not only yearly, but also monthly from the 83 logged in February.
"The job market in Malaysia has displayed remarkable resilience, showing consistent growth over the past year, reflecting a positive shift in the labour market," said Sekhar Garisa, foundit CEO, in a statement.
By sector, the retail industry saw the biggest increase in hiring activity with 173% year-on-year as the increased adoption of sustainable solutions drove hiring demand.
"The retail sector also witnessed substantial growth in hiring for green job roles particularly looking for individuals with specialised, high-demand skill sets," Garisa said.
This is combined with Malaysia's job seekers community showing an affinity towards roles that are aligned with their social and environmental values, according to the CEO. Other sectors that also saw year-on-year increases include:
The two sectors that saw decreases in hiring activity include the Oil and Gas (-16%) and the Banking, Financial Services, and Insurance (-10%).
Meanwhile, there was also significant demand in functional roles in the Human Resources sector after seeing a 42% increase annually.
According to the report, the increase is driven by extensive training and development initiatives within organisations.
The biggest surge in functional roles demand was recorded in the Engineering/Production and Real Estate sectors, with 73% YoY growth. Increases were also reported in Sales and Business Development (66%) and Marketing Communications (59%).
