What’s in store for 2013 in Malaysia? I’m no prophet and do not wish to
make speculations that at best remain as guesses but one thing
for sure, General Election is certain to take place. And because it’s GE, the
results would have some impact on the general economy and that ultimately would very much affects everyone that is either in business or in
employment. Whether the after effects of GE will generate positive results or not, we shall wait and see.
If you desperately need some forecasts, there’s one from the Malaysian
Government:
they had predicted a slow growth across
the services sector and oil and gas with more modest growth in manufacturing
and construction.
And from this
website, Hays
gave their take on the top 10 talent trends for 2013. This is what they think:
1. Use of expats: The Malaysian Government is rolling out
changes to its Immigration Department including a new Expatriate Services
Division to officially open in early 2013. The new agency will manage services
related to in demand expatriate workers. As part of the pre-launch activities,
the government issued Residence Pass-Talent (RP-T) status to 21 corporate
leaders in “National Key Economic Area” sectors such as business services, oil
and gas, financial services and education. This type of Malaysian visa allows
people to work for up to 10 years and will be offered to expats with the right
skills signalling continuing demand for expat talent.
2. Economic outlook: Domestic demand for goods and services
strengthened in 2012 and is expected to increase further in 2013. Malaysia’s
GDP is expected to grow by at least 3.8 per cent next year, according to the
Institute of Chartered Accountants in England and Wales. Economists from Bank
Negara Malaysia and the World Bank are optimistic projecting growth of more
than 4 per cent while the Malaysian Government expects GDP growth of up to 5
per cent if global conditions improve.
3. Continuing skills shortage: Skills needed in Malaysia
cover both white-collar and blue-collar roles. These include ICT and knowledge
workers and those with finance skill sets, as well as building sector trades,
particularly welders.
4. Staff turnover: The outsourcing sector is still seeing
higher rates of staff churn than many others sectors and this is expected to
continue next year. Many younger workers in this sector are increasingly mobile
as they search for better pay and conditions in new job roles.
5. Rising salaries: Malaysia this year introduced a minimum
wage for the private sector with businesses having until January 1, 2013 to
comply. “I would have to agree with economists that setting a minimum wage
could help address wage inequality and encourage greater workforce
participation rates here,” says Chris. Overall, salaries are expected to see
modest growth over the coming year with the largest increases expected for a range
of “in demand” roles such as ICT roles, some manufacturing jobs, engineering
roles, banking and finance roles and jobs in the pharmaceutical sector.
6. Focus on female workforce: The Malaysian Government has
set a target of increasing female workforce participation to 55 per cent by
2015. It is currently about 47 per cent. “Boosting the female workforce
participation rates is a way of increasing productivity and addressing skills
shortages,” says Chris. “However, Malaysia has a unique problem. Unlike other
Asian countries where women leave the workforce to raise families and then
return later in their lives, Malaysian women tend not to return.”
7. Need for staff development: The report, Learning, Talent
and Innovation in Asia, compiled by the Hong Kong Institute of Human Resource
Management and the UK’s Chartered Institute of Personnel and Development (CIPD)
and reported in the latest edition of the Hays journal, analysed the talent
challenges in six parts of Asia, including Malaysia. It advises Malaysia to
follow the Chinese example of investing in talent strategies and helping staff
develop business skills, particularly leadership and people management
capabilities.
8. Public investment: Malaysia’s public investment,
increased by almost 30 per cent in the quarter to June 2012 largely off the
back of $450 billion worth of new infrastructure projects. These projects will
continue to take shape in 2013 creating jobs and domestic spending.
9. Social media: Malaysian job hunters, particularly Gen Y
and Gen X, are increasingly comfortable using social media as part of their job
search and personal branding efforts. Malaysian candidates of all ages also
appear to have a good awareness of the career perils posed by social media such
as posting inappropriate remarks online. Employers are also being encouraged to
include social media as part of their recruitment mix but to seek expert
guidance to ensure they protect their brand and adequately test claims
candidates make in their online profiles.
10. Unemployment Going into 2013 the unemployment rate
across the Asia and the Pacific will continue to hover above 10 per cent, but
in Malaysia the rate remains very low by global standards. Unemployment
increased from 2.8 per cent in mid-2012 to 3.4 per cent for the year but is
expected to hover around three percent in 2013.
From the Recruiter’s point of view, I believe growth will
continue albeit modest. As for which jobs are in greater demand, I can tell you point 8 on public investment is seeing results - the market is already witnessing a higher demand than usual for construction
related jobs. So if you happened to be a Civil Engineer, you can look forward
to a good year ahead. Probably a good time to make a move if you have been
toying with that idea. Needless to say, when the demand is high and supply is
scarce, you certainly have a greater bargaining power. All the best!