2013 begins with a Positive Job Outlook
According to the JobStreet.com Job Outlook Report, the hiring climate is looking positive for the 1st quarter of 2013.
THERE is good news aplenty for job seekers in lower-level positions as employers from various sectors are expected to increase their recruitment in the next 12 months.
A job outlook report by leading recruitment portal JobStreet.com showed that 36 per cent of its respondent companies were expanding businesses and hence intending to increase their number of employees.
Most of the job openings are expected to be in the fields of sales, marketing, accounting, finance, manufacturing and engineering.
However, those seeking managerial and higher positions may experience a more difficult time getting jobs as only 11 per cent of the JobStreet.com survey respondents indicated an intention to hire in that category.
“Job seekers in sales and marketing are the most sought-after, followed by those with expertise in manufacturing, accounting and engineering,” said Jobstreet.
“Respondents from major industries such as hotels and restaurants, finance, computer and information technology (IT) and mining (oil and gas) showed that they would most likely experience a better job growth.”
The survey also showed that 52 per cent of the respondents were looking to fill junior-level positions for those with less than four years of working experience, followed by 24 per cent who were seeking people with specialised skills.
The outlook for fresh graduates looked tougher as human resource units in many industries were finding difficulties in hiring them as most candidates were demanding high salaries despite not having any experience.
The overall positive job outlook is mainly attributed to strong economic growth, with forecasts of the economy expanding by a margin of 4.5 to 5.5 per cent as announced in the 2013 Budget.
“The turnover rate is also expected to be higher in the beginning of the year as many employees choose to switch jobs after receiving bonuses,” the company said.
“Nevertheless, according to the feedback given in the survey, most employers are also selective in their hiring to ensure they get high-performing employees to meet the competitive global work environment.”
Hiring Prospects: For the First Quarter (Q1) of 2013, Malaysian employers have a brighter job outlook for their hiring initiatives in the new year. 36% of the respondents are expecting to increase their hiring in the next 12 months. This is seen from a hike of 13-point from the 23% compared to Q1 of 2012. Among the 36% who indicated they were expanding the most are for sales, marketing, accounting/finance, and manufacturing.
Less than 5% of respondents acknowledged that they are not hiring in the foreseeable future, a 5-point drop from the 9% in 2012 which also reflected the positive job outlook for Q1 of 2013.
Top specializations sought: For most industries, jobseekers in sales and marketing are still the most sought after, followed by those with expertise in manufacturing, accounting and engineering. In comparison with the last quarter, three new specializations have entered the top 10 list. They are manufacturing, engineering, and mechanical engineering. Respondents from major industries such as hotel & restaurants, finance computer and IT, mining (oil & gas) reported that they would most likely experience a better job growth in the next 12 months.
Position Level Sought: According to the respondents, 52% are looking for junior level with less than 4 years experience followed by 24% who are looking at people with specialised skills, such as accountants and engineers. Only 13% of the respondents are looking at fresh graduates. Human resources in many industries expressed difficulties in hiring fresh graduates as many candidates without working experiences are demanding high salary. Managerial levels and above might be experiencing a more difficult hire period as only 11% are looking at hiring that position level.
The positive job outlook from the survey for Q1 is mainly attributed to the strong economic growth with forecasts of the economy expanding by a margin of 4.5-5.5% as announced in the Budget 2013.The turnover rate is also expected to be higher in the beginning of the year as many choose to switch jobs after receiving bonuses. Nevertheless, according to the feedback given in the survey, most employers are also selective in their hiring to ensure they get high-performance employees to meet the competitive global work environment.
Note: A total of 227 JobStreet.com clients, managers and senior managers across various industries in Malaysia participated in this survey conducted in February 2013.
The JobStreet.com Job Outlook Index looks at the expectations of job growth (or employment prospects) in the industries on a quarterly basis.
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