2023/24 Malaysia Salary & Employment Outlook spotlights workforce trends and insights.

PERSOLKELLY Malaysia has published its 2023/2024 Malaysia Salary & Employment Outlook. The report suggests that the need for talent will continue to grow in the new year as the unemployment rate is expected to remain low given the anticipated economic recovery.

However, socioeconomic factors coupled with technological advancements have had an undeniable influence on the job market dynamics, and PERSOLKELLY advises both employers and employees to be aware of what this means for them. More importantly, what they can do to leverage and continue thriving amidst the evolving landscape.

Human Resources and Administrative

The role of Human Resources (HR) is undergoing a transformative shift, particularly post-COVID. As workplaces continue to transform, HR has become more crucial than ever in fostering employee engagement and productivity. Aligning company and employee values is critical with a new generation entering the workforce, and HR functions will need to find ways to attract and retain talent while actively shaping a healthy work culture.

Simultaneously, the report underscores the increasing importance of training and development initiatives. Beyond traditional metrics, today’s employees prioritise flexibility, career growth and coaching. Gen Z employees, in particular, seek a holistic work experience that goes beyond financial considerations.

With the continuing evolution of work, HR’s dynamic function remains integral in shaping a positive work environment – attracting and retaining top talent and enhancing the overall employee experience.

Legal and Risk Management

With increasing global instability and uncertainty, talents adept at navigating the risks management landscape are in high demand globally. A growing number of companies have come to realise the need to identify, analyze and manage the levels of risk exposure in day-to-day operations, which may result in larger repercussions later.

The report spotlights opportunities available for both fresh graduates and experienced professionals, considering the expansive functions within legal and risk management. Additionally, the rapid uptake of digitalisation among organisations has also led to a greater need for compliance with data regulations, among others.

All in all, the legal and risk management fields will open up many career opportunities to explore. While shifting to a new industry will require a period of adjustment, legal skills are also highly transferable – enabling job seekers to build a more diversified and sustainable career.

Sales and Marketing

Today’s fiercely competitive digital marketplace necessitates a recalibration of roles. While salespeople retain their crucial role, technological integration becomes inevitable. As consumers become increasingly digitally savvy, their evaluations extend beyond the product itself to encompass the entire experience, including brand messaging, interactions with the company, and the overall purchasing journey.

To achieve these expectations, robust content strategies and data analytics capabilities are crucial in driving success within the sales and marketing domains. The report’s findings suggest that even as businesses and consumers have become more reliant on technology, human touch is still important. As such, sales and marketing talents need to be able to personalise communications to audiences – even as they reach out to them through technology.

Talents must be capable of crafting compelling content and employing effective strategies to ensure the most relevant information is going out to prospects, and to meet the evolving requirements of search algorithms, while accurately tracking customer behavior, channel performance as well as sales and market trends to raise efficiency and productivity.

In essence, sales and marketing professionals will need to constantly stay abreast of the latest market developments to remain relevant and thrive in the dynamic marketplace.

Brian Sim, Country Head and Managing Director of PERSOLKELLY Malaysia, reflects on the road ahead, inferring that the way of work is changing. “For businesses to continue thriving, ensuring the resilience and agility of the workforce is a must amidst continuing and emerging global challenges and changes. With recent advancements in tech, the impact that it brings is undeniable and employers will be looking at ways to innovate and upscale their businesses leveraging these advancements. Therefore, it is crucial for their workforce to be aligned in bringing to life this transformation.”

Brian Sim, Managing Director and Country Head of PERSOLKELLY Malaysia

All in all, Brian emphasizes the proactive approach that both employers and employees should take. Employers are responsible for providing an environment that allows employees to work effectively. On the other hand, employees are encouraged to continually hone their skills and be future-ready in meeting constantly evolving job requirements in today’s competitive market.

For further details on Malaysia’s evolving job market and insights across key sectors, please refer to the complete 2023/24 Malaysia Salary & Employment Outlook here