2019 Quarter 1 Top Employment Trends in Malaysia

Slower start to 2019 in technology hiring: Even as the technical job market continues to grow in demand, there seemed to be a slower than usual start within the job seeker market at the beginning of the year. We have seen a lag in active job seekers compared to last year as job seekers adopt a wait and see approach with regards to their next opportunity. With the growing demand for these technical talents, we are taking a more pro-active approach to attract and headhunt these candidates for our clients.

Technology skills in greatest demand: Internet of Things (IoT), Machine Learning/Robotic/Artificial Intelligence, Big Data/Data Analytics/Data Science, Cloud Services, Cybersecurity and Digital.

Demand for top senior technical talents remains at an all-time high and the demand to continue throughout 2019, with specialisation of Cybersecurity, Development: Java, APIs, .Net, Native Mobile Developer (iOS/Android) and Data Analytic/RPA skillsets to be highly sought-after. The hiring for permanent and contract resources remains consistent, however, we will see a slightly upward trend in contract headcount to support the business needs.

E-Wallet race heats up: More and more companies are adopting an e-wallet into their arsenal of innovative products. As China is at the forefront of the global fintech innovation, it is welcoming to see top players working in collaboration with Malaysian companies to further cultivate local talents as they gain exposure and knowledge from these global players. Credit to Bank Negara for playing an active role in advocating for fintech to be an integral part of the national initiative driving digitalisation to remain competitive.

Increased investment in Wealth Management and Private Banking: We can see this growth significantly across global banks with integrated process improvement initiatives within middle/back-office operations to further support optimization initiatives.

Significant demand within the areas of Risk, Audit and Compliance: Top demands are specific within BASEL 2/3, AML, CTF, FCC and Transaction Monitoring skills. However, skill gaps expect to grow deeper due to multidimensional integration across different platforms, thus we can see an increase in hybrid roles being created, thus forcing businesses to rethink their talent strategy.

Consistent demand for finance business partners across all industries, with regional roles continuing to be moved here from Singapore. This is also visible in shared services, with many setting up a hybrid FP&A function or Centre of Excellence to cover the APAC region.

Slow but steady growth in shared services: Entry of shared services organizations has seen a slower start in 2019 as compared to 2018, though still steady.

Demand for foreign language speakers remains high: With the majority of the shared services looking to expand operations to serve language-specific markets such as Japan, Korea, Thailand, and Vietnam within APAC, the industry is extremely talent short in this area as companies become even more competitive with shorter hiring times and increased remuneration packages & benefits.

Increased demand for Supply Chain and Procurement personnel: The investment ecosystem in Malaysia is continuing to improve and has led to increased confidence in the hiring market. This has been particularly evident in supply chain and operations management.