HR Outlook 2024: Malaysia
Emerging trends in the Malaysian Job Market according to the SEEK report
Among some interesting job market trends emerging in the Year of the Dragon, the temporary workforce and remote work setting have gained rising popularity from companies potentially because of a rapidly expanding business environment and scarcity of locating the right talent for open jobs.
Based on the SEEK Report for 2024 that covered 454 companies consisting of small, medium and large entities, the report highlighted a growing trend of part-time employment and digitalization of the workspace. The hiring trend also looks to be slightly positive as the report showed every surveyed company completing at least one employee hired in 2023 with HR & A being the most hired category of employment at 39%, and followed by Sales & Business Development at 31%.
While the report covered other aspects of employment such as most favourable new compensation & benefits, work life balance, career development, salary adjustments and bonuses, it also showed a key shift in the hiring algorithm that is the use of AI-powered talent hunting tools, employer branding and utilising professional services to fill difficult roles or those more technical.
We have shared merely a portion of the SEEK report but you should give it a good read here.