Fintech, Islamic banking and IT specialists top the job list in Malaysia for this year.
By Priya Rama
Specialist recruitment consultancy Robert Walters recently revealed its Global Salary Survey 2017 with the latest information on salaries and employment trends across a range of industries, as well as hiring tips and advice.
Smart Investor spoke to Sally Raj (right), Managing Director of Robert Walters Malaysia to gage the HR scenario in Malaysia for 2017.
Smart Investor (SI): Which are the jobs/industries in Malaysia that will see a growth in 2017?
Sally Raj (SR): The banking and financial services, particularly fintech will see a steady growth. Fintech specialists, especially those with experience in retail online banking and distribution, will be in demand as established banks and financial services firms revamp their systems.
Fintech has become an emerging industry and is driven largely by consumers expecting more seamless and efficient banking services.
In addition, professionals with expertise in developing and enhancing Islamic asset management products will continue to be highly sought after in Malaysia’s Islamic banking industry. Due to the limited talent pool, experienced professionals can command at least 25% salary increments.
There will also be a strong demand for experienced revenue generators such as private bankers, institutional sales specialists in asset management, senior relationship managers and treasury sales specialists. Job movers in these roles can expect a 25% salary increment.
In the age of information technology, and as digital, mobile and e-commerce related companies expand their businesses, there will be an increase in demand for mobile engineers and software developers for this year.
They will be recruited to cope with the needs of e-commerce companies expanding their businesses; so they will need to continue honing their skills in these areas.
Companies will also need to hire cyber security professionals to strengthen their security practices to prevent security breaches, especially the banking sector. Professionals with such skills can expect a 25% salary increment when moving jobs.
The e-commerce market is expected to boom this year with the upcoming launch of the National E-commerce Strategic Roadmap (NESR). This will drive demand for digital marketing professionals including sales managers, accounts managers and marketing managers with SEO, SEM and Google Analytics experience.
SI: What are employers in Malaysia really looking for when hiring a candidate?
SR: When employers meet with potential candidates, they will assess whether the skills and experience of candidates are in demand, their potential to contribute to the organisation and whether they will fit in with the culture of the organisation.
Of course, it helps if candidates can also demonstrate that they have stayed on with their current employer for a reasonably long period of time and demonstrated growth (i.e. exposure to other job functions, acquiring new skills on the job) within those few years.
SI: What hiring strategies/trends should Human Resource (HR) managers look out for in 2017?
SR: Talent acquisition will gain increasing importance in the workplace as a majority of recruiters will focus on recruiting and retaining top-tier talent. Most companies will be recruiting talent from sources such as social professional networks (LinkedIn), employee referrals and online job boards.
Employee referrals can be a more viable method and quicker way for companies to hire candidates for the jobs. Referred hires will also settle down into their company at a faster pace as they can turn to their friend for help in familiarising themselves with the work process when their boss is busy or not around.
Some companies will also be investing in or upgrading their technology tools to help them with their recruitment process and system, such as HR bots.