7 Trends Employees and Employers in Malaysia Expect to Experience by 2025
Many businesses in Malaysia find themselves at a crossroads, facing the dual pressures of uncertainty and the need for sustained growth in the face of increasingly challenging economic conditions.
In this volatile environment, the world of work has continued to evolve, and organizations are cautiously turning to strategic planning for the future, keeping only the lights on.
Malaysian workers and employers are currently in the midst of a transformative era, where the confluence of multiple factors is ushering in unprecedented change.
As new data emerges, we examine the trends affecting the world of work in Malaysia, providing insights into how employers and employees can navigate this dynamic landscape with foresight and adaptability.
To better understand the path forward, we surveyed 2,014 skilled professionals and 832 employers in Malaysia for our latest survey:
What can the workforce expect in 2024?
Job prospects
The emergence of a multigenerational workforce
The importance of the contract
Where everyone is flexible/works remotely
Technological advances using generative AI in recruitment
Malaysian employers and employees are preparing for what lies ahead
A dominant trend in recent times has been the adoption of a more conservative approach by some organizations in the face of market volatility and economic instability. Faced with uncertainties such as global geopolitical tensions, trade conflicts, and the lingering effects of unforeseen events, many businesses in Malaysia are taking precautions, adopting prudent financing measures, and a more restrained approach to expansion.
This has not gone unnoticed by workers, with the potential volatility linked to the conservative approach some companies have taken toward industrial employees. They are keenly aware of the problem and prioritize job security over ambitious growth. Some workers prefer stability and flexibility in times of uncertainty. Employees’ efforts to protect their financial well-being in the face of perceived turbulence contribute to the attractiveness of a stable work environment. At the same time, a larger group of employees is taking advantage of the opportunity to negotiate better salaries with competitors. Recognizing the value of their skills in a competitive job market, entrepreneurial professionals are seeking better opportunities in the coming year to secure resources to weather the potential financial storm on the horizon.
The workforce’s dual response reflects a nuanced understanding of the economic landscape, which is also influenced by sector volatility, employee readiness, and companies’ willingness to invest in talent that will help them achieve their year-end targets. However, Malaysian companies are still recruiting to meet growing needs.
However, a group of forward-thinking companies has emerged, adopting a dynamic and optimistic outlook despite the current challenges. 62.8% of Malaysian companies were confident in their ability to recruit candidates with the required skills over the next 12 months and are actively developing their workforce strategies to thrive in the emerging economic landscape.
The persistent talent shortage across all sectors will drive recruitment needs in the coming period. Currently, 62% of senior decision-makers worldwide believe the lack of skilled IT employees is the greatest threat facing their business. Given the current circumstances, major shifts in recruitment strategies are imperative.
75% of global recruitment professionals expect skills-based recruitment to be the most important strategy for their business. Organizations should therefore consider employing appropriate strategies when recruiting talent. This means:
Define and map skills by identifying the core technical skills needed across the organization;
Define clear career paths and learning pathways based on skill gaps rather than roles; plan targeted learning interventions, including formal training, experiential learning, and mentoring;
Enable internal mobility of participants by publishing key roles internally.
Lingering talent is the most beautiful thing in the world. Currently, 62% of employees are facing the threat and challenges facing their businesses. Given the current circumstances, major changes in recruitment strategies are imperative.
Define and map skills by identifying the core technical skills needed across the organization;
Define clear career paths and learning pathways based on skill gaps rather than roles; plan targeted learning interventions, including formal training, experiential learning, and mentoring;
Enable internal mobility of participants by publishing key roles internally.
Lingering talent is the most beautiful thing in the world. Currently, 62% of employees are facing the threats and challenges facing their businesses. Given the current circumstances, major changes in recruitment strategies are imperative.URGENT
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