ASEAN KEY DESTINATIONS
Businesses To Invest In Talent Development In 2016
KUALA LUMPUR, MALAYSIA - Media OutReach - Jan 21, 2016 - According to the latest annual Global Salary Survey from specialist professional recruitment firm Robert Walters, recruitment in Malaysia is likely to remain cautious in the first half of 2016 due to pressures from the weak Ringgit as well as falling crude oil prices. Across sectors, hiring is only anticipated either for replacement positions or within critical business units.
With a slowdown in recruitment, employers are turning their efforts towards upskilling their existing professionals. This strategic move is expected to assist companies with retaining their top talent in preparation for the economy's recovery. Hiring is anticipated to rise in the latter half of 2016 as the Malaysian economy is expected to stabilise.
Published figures suggested that qualified job movers with the in-demand skills such as IT and corporate governance can expect an average overall salary package increment of 20-25% in 2016.
Sally Raj, Managing Director of Robert Walters Malaysia, comments:
"In times of market uncertainty, companies need to see the long-term value of investing in their employees. Staff retention is now more crucial than ever as Malaysian professionals are highly motivated by training and development initiatives as well as leadership opportunities. Despite this general slowdown, growth is still forecasted within IT, corporate governance and Islamic banking, all of which are driving recruitment of top-tier skilled specialists. "
Other Key Highlights for 2016
Demand for accounting and finance professionals experienced in project management and the shared services businesses environment as more multinational corporations migrate their functions to Malaysia
Malaysia remains the biggest player in the global Islamic banking industry which will drive more opportunities for relevant professionals, particularly in Islamic asset management
As the technology space experiences rapid growth, more firms are likely to utilise digital channels to boost revenue. This will increase positions for IT specialists skilled in big data and e-commerce
Penang has been earmarked as a hub for semiconductor and E&E manufacturing as more foreign direct investment enter the state
Notes to editors:
1. Robert Walters is one of the world's leading specialist professional recruitment consultancies and focuses on placing high-calibre professionals into permanent, contract and temporary positions at all levels of seniority. The Malaysia business recruits across the accountancy and finance, banking, business support, compliance, financial services, HR, legal, IT, sales, supply chain, marketing, procurement and supply chain fields. Established in 1985, the Group has built a global presence spanning 24 countries and regions.
2. Compiled by our dedicated research division, the Salary Survey is based on an analysis of placements made across our network of offices and specialist disciplines during the course of 2015. Now in its 17th year, the Survey is used by employers, HR managers and employees for benchmarking salary levels within their industry.
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