A 5-Year Career Growth Plan for Shared Services

Malaysia has established itself as a leading hub in the rapidly expanding shared services industry. With over 700 Shared Service Centres (SSCs) operating across a range of functions for Fortune 500 companies and other major businesses, the country continues to grow as a key player. According to SSON Research & Analytics, Malaysia ranks 7th globally for the number of SSCs and remains in the top 3 within Southeast Asia. This includes a 3% growth since 2023, highlighting Malaysia’s critical role in the sector’s expansion.

This growth presents a wealth of opportunities for professionals in the field. However, advancing your career in shared services requires strategic planning and foresight. To maximise your potential and long-term growth in this sector, it is essential to have a clear and actionable career plan. Here’s a step-by-step guide to creating a 5-year career growth plan for shared services professionals.

1. Assess your starting point

Before planning your future, evaluate where you currently stand. Identify your strengths, weaknesses, and the skills you have already acquired. Are you in an entry-level position, or do you have some years of experience under your belt? Understanding your current position will help you create a realistic plan for where you want to go.

If you are part of a newly established shared services centre, involve yourself in the steep learning curve that comes with understanding the end-to-end process of establishing operations. This includes gaining knowledge in migration, transition, and knowledge transfer processes. In more established shared services environments, the focus may shift towards structured learning, such as process automation, optimisation, and compliance. By combining self-assessment with a commitment to continuous learning, you will be better equipped for your career trajectory in shared services.

2. Set clear, measurable goals

Define what success looks like for you in the next five years. Do you aspire to be in a managerial role, or perhaps specialise in a particular function such as finance, human resources (HR), or IT within shared services? Set SMART (Specific, Measurable, Achievable, Relevant, Time-Bound) goals that align with your aspirations. For example, you might aim to become a team lead in three years and a manager by the end of the fifth year.

As you set these goals, it is essential to identify your areas of interest and ensure your goals align with those interests. Once you have outlined your goals, communicate them to your manager. Sharing your ambitions and showing enthusiasm for your chosen career path not only helps clarify your objectives but also demonstrates your commitment to professional growth.

3. Identify key skills & certifications

To achieve your career goals, you will need to build on your current skillset and possibly acquire new ones. Key competencies in shared services often include process improvement, data analysis, project management, and proficiency in enterprise resource planning (ERP) systems. To differentiate yourself, consider certifications such as Six Sigma, Certified Shared Services Professional (CSSP), or Project Management Professional (PMP). Additionally, gaining expertise in forward-looking technologies such as artificial intelligence (AI), robotic process automation (RPA), and cultivating a continuous improvement mindset, will set you apart from the competition. For deeper insights into in-demand skills, be sure to download our Market Insights Report.

While these certifications and skills may not always be prerequisites during the hiring process, they will undoubtedly come up in conversations about promotions or high-potential (HIPO) schemes, giving you an edge in career progression.

4. Network within the industry

Networking is an invaluable tool in any career. Start by building strong relationships within your own organisation. Participate in internal events, meet colleagues from different departments, and make a conscious effort to be visible. Externally, attend industry conferences, webinars, and join professional associations like the Shared Services & Outsourcing Network (SSON) to expand your network. Networking not only opens doors to new career opportunities but also provides insights into industry trends and potential mentorship relationships that can guide your career development.

5. Stay updated on industry trends

The shared services landscape is continuously evolving, driven by technological advancements and changing business needs. Stay informed about industry trends, such as the rise of robotic process automation (RPA), artificial intelligence (AI), and digital transformation. By staying ahead of the curve, you can adapt your career plan to incorporate new skills and technologies that are in demand.

6. Regularly review & adjust your plan

Career plans should be dynamic, not static. Regularly review your progress and adjust your goals as needed. Flexibility is key—if you hit a milestone earlier than anticipated, set a new target. Conversely, if you encounter challenges, reassess and tweak your strategy to stay on course. Having regular conversations with your manager or a mentor who can offer feedback will help keep your career trajectory on track, even when circumstances change.

7. Focus on long-term growth

While short-term achievements are important, always keep an eye on your long-term career aspirations. Consider how each role, project, or opportunity fits into your overall career trajectory. Focus on acquiring skills and experiences that will benefit you in the long run, positioning you for leadership roles or specialised positions in the future.

As you progress, make it a habit to continually challenge yourself by questioning your current path and seeking opportunities to push beyond your comfort zone. This mindset of self-reflection and continuous improvement not only accelerates personal growth but also ensures you remain adaptable and valuable in the rapidly evolving shared services industry.

Mapping your 5-year career in shared services requires thoughtful planning, continuous learning, and proactive networking. By setting clear goals, gaining diverse experiences, and staying attuned to industry trends, you can build a successful and fulfilling career in this ever-evolving sector. Remember, the journey is as important as the destination, so embrace every opportunity for growth along the way.

Looking for more insights or career opportunities in Malaysia's shared services space? Connect with our team for tailored guidance.