A recent Salary Survey for 2020 finds technology and transformation roles remain in high demand as the pace of digitalisation picks up and more companies are working at improving their business processes and delivery.
The survey by Robert Walters, one of the world’s leading specialist professional recruitment consultancies, looked into key trends and outlook that primarily identify key mid and high level roles in demand across industries in Malaysia and salary increment expectations for talents who are changing jobs in 2020.
According to Kimberlyn Lu, Country Manager Malaysia, Robert Walters, on a whole the survey results suggests 3-8 per cent increment for those staying in their jobs while those who are moving jobs or are promoted, can expect a 15-20 percent increment. Talents with niche skills who are changing jobs on the other hand are looking at an increment of up to 30 percent due to demand outstripping supply.
The prominence of technology is clear across major industries like finance, banking, engineering, HR and legal. The survey looks at key roles for each of these industries and tech driven roles make it to the top of the list in demand. Traditional roles such as governance and operations management together with roles relating to the adoption of recent technological advancements such as analytics, digitalisation, transformation, automation, big data, AI and cyber security continue to gain more attention as they will be highly sought after in the coming year.
“Professionals in Procurement & Logistics (89%), Accounting & Finance (75%) and Engineering (75%) are optimistic about opportunities in their industry as they have been early adopters of technology and are experiencing the middle wave where digitalisation has already begun to impact the way they do their job,” added Kimberlyn.
Engineering roles continues to be in high demand in the Northern Region. Other roles that will be in demand for the region will be niche IT positions such as data scientist. New manufacturing companies setting up their plants in the coming year hence there will be a need to hire senior management positions in finance and operations.
In the HR sector, the onslaught of digitalisation is opening up opportunities for talents with hybrid skill sets. A balance between traditional HR capabilities, analytics and AI implementation knowledge in HR processes can enhance the attractiveness of an applicant. Companies are expected to seek digitally savvy talent with a progressive mindset across all functions to accelerate digitalisation efforts.
The study also delved into drivers of job satisfaction among talent to give employers a good idea of what the talent market expects when they accept a job. Work life balance, good working environment, learning opportunities and competitive remuneration are among the key reasons that influence people to stay and thrive in the working environment.
As for the technology and transformation sector, some key trends which will drive the job roles and demand are emerging tech and digital transformation for both enterprise and consumer levels, digital forensics and cyber security as digitalisation seeps into the DNA of businesses and e-wallets and payments which is increasingly becoming the transaction of choice for the younger consumer base.
The Salary Survey also highlighted key roles in demand for each sector:
“We are excited for the coming year as we see forward thinking employers have begun to emphasise on potential of the talent and transferable skill sets over market sector experience. This will encourage mid and senior level management to break their mold and expect new challenges that can help them deliver value and transform the business. To retain top professionals, hiring managers have to show a commitment to learning and development as well as mapping out how the roles can contribute to the wider organisation,” concluded Kimberlyn.