Despite many countries facing recessions, Malaysia’s labour market continues to experience high levels of employment. Tom Osborne, Managing Director of Hays Southeast Asia, says this should provide jobseekers with the confidence they need to act on their career goals.

Professionals often make resolutions at the beginning of the year, leading to thoughts of change and progression within their careers and promises of finding a new role in the year ahead. However, given the economic uncertainty facing many countries, some professionals could be reluctant to act on their goals.

The 2023 Hays Asia Salary Guide which surveyed over 10,000 employers and professionals around the region projected a 56.5 per cent staff level increase in Malaysia this year. 66.6 per cent of employers in the country expressed confidence in their ability to hire the skilled talent they need.

Now halfway through 2023, Natasha Ishak, Regional Director of Hays Malaysia shares the top industries that are currently hiring in Malaysia, including which roles are in demand throughout 2023:

Heavy Industries / Manufacturing

Despite a subdued manufacturing index in Q2, recruitment among firms remained competitive, with firms continuing to increase staffing level. Demand for project managers with Project Management Professional certification and R&D engineers with experience in product design and process development remained strong as forward-thinking companies look towards supplementing product innovation for the coming season.

Out on the production line, the heavy machinery and manufacturing industry is increasingly turning to automation for cost savings and efficiency considerations. Nowhere is this more evident with the rising demand for automation engineers equipped with PLC Programming and Electrical Engineering Skills to meet this growth.

An increasing focus towards environmental, social & governance (ESG) initiatives has also led to a push for sustainability specialists looking to take up roles in manufacturing.

Natasha stated, “Demand for manufacturing-based roles remain strong this year. Talented engineers are crucial to establish the groundwork for a future in which industries are prepared to face crises, minimising operational disruption and enhancing overall efficiency.”

Fast-Moving Consumer Goods (FMCG) Retail

With consumer spending expected to trend upwards for the remainder of the year, the FMCG sector has responded by increasing hiring for demand planners and supply planners to ensure the supply chain can continue meeting adjusted demands. Demand and supply management, strategic sourcing and cost optimisation skills were highly touted for these roles, with knowledge of enterprise software and analytics software being critical skills for success.

The increase in customer data over the pandemic period has also necessitated hiring for customer relationship managers (CRM) and loyalty managers capable of leveraging this data and executing marketing strategies to increase conversion rates. Larger multinational retail brands are also leaning towards marketing managers to help drive regional goals and execute 360 marketing on a local basis.

Although the pandemic has brought many shoppers back into physical stores, ecommerce continues to provide businesses with revenue streams and a means of liquefying excess inventory stockpiled because of the pandemic. This has facilitated the demand for more digital marketing managers with experience in social media, paid ads and marketing promotion planning.

As with Manufacturing, increased interest in championing ESG initiatives has led to more sourcing for candidates with sustainability expertise. Communications managers able to relay sustainability achievements to stakeholders and media are in high demand.

Shared Services Center

With the economy fully reopened, the market has swiftly recognised the evolving workplace and business requirements, highlighting the crucial role of the finance function in driving organisational success across industries. In 2023, the focus on people and staff retention within the shared services sector remains resolute, particularly for positions such as finance project managers, financial planning analysts, country financial controllers and finance operation specialists.

Organisations are proactively accelerating hiring efforts to secure candidate fluent in various foreign languages, a necessity for international business models such as offshoring that require effective communication across borders for seamless operations and collaboration.

Technology

The global pandemic has accelerated digital transformation and while it was a priority for many businesses pre-pandemic, it became a necessity overnight. Particularly in Malaysia, this has spotlighted the need for digital transformation specialists with knowledge of robotic process automation (RPA).

As digital transformation accelerates, so do the threats that companies face today. Enterprises recognise the need to enhance their defence strategies to effectively tackle these challenges and are actively striving to bridge any existing loopholes. Cyber security engineers capable of executing security orchestration, automation and response (SOAR) will enjoy a leg-up over the competition.

With big data continuing to play a pivotal role in providing cost-effective options in a wide range of use cases, organisations are cognisant of the need to be able to harness the amount of information available to them. Data Analysts proficient in AWS or Azure GCP remain highly coveted for this reason.

As the qualification bar for technology talent rises in 2023, DevOps and Cloud Engineers continue to enjoy high demand across the industry, and candidates with a good balance of technical skills (Oracle ERP, Python, Java and R, Perl, Ruby etc) will be top picks.

Natasha shares: “Tech leaders in the country are making significant steps toward moving industries into the digital economy. Professionals possessing these highly regarded skills are well-positioned to succeed in the ever-changing job market.

Banking and Financial Services

The hiring trend for front office positions remains strong, highlighting substantial growth opportunities in the market. Relationship managers, catering to both corporate and commercial segments, are witnessing high demand from employers. To excel in these sought-after roles, candidates are encouraged to possess Professional Credit Certification (PCC) or hold the esteemed designation of Certified Credit Executive (CCE).

The compliance sector has observed an upsurge in demand for professionals with advanced technical skills, including SAS, Python or R. Financial institutions are increasingly focusing on stress tests for credit risk assessments, prompting the need for individuals proficient in these programming languages. Concurrently, banks are actively bolstering their internal controls through the recruitment of experienced internal auditors well-versed in regulatory reporting, AML advisory and transaction monitoring.

In response to the growing emphasis on ESG practices within the sector, the hiring landscape has witnessed an intensified search for bankers specialising in risk management. This development aligns with Bank Negara Malaysia’s recent mandate requiring financial institutions to account for climate change factors when evaluating risk exposure.

Natasha closes with, “The traditional notions of work are evolving, with new industries, roles and skill requirements still emerging. In these dynamic times, businesses and jobseekers need to be agile and flexible in their approach to meet the evolving needs of the market.