2016 Job Market Outlook for Malaysia According to JobStreet.com
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EduSpiral Consultant Services shares articles on job talent trends by recruitment specialists so that our students are aware of the job prospects for the courses that they plan to choose. We want our students to choose the right course so that they have a bright career ahead. These articles provide facts and evidence to help students after SPM or UEC to choose the right career instead of listening to unverified hearsay from friends and relatives.
JobStreet.com recently conducted its Job Outlook Survey for the fourth quarter of 2015. The report reveals that 11% of employers expect to decrease their hiring in Q4 2015 compared to 27% in the previous quarter. This slight improvement, however, is linked to a high employee turnover rate towards year end.
When the survey participants were asked “When do you foresee your company doing the most recruitment?” only 14% said it would be in the fourth quarter of 2015, while a significant 41% said it would be in the coming quarter, between January to March of 2016.
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When probed about their reasons for wanting to hire next year, a high response was, employees tend to
leave right after their year-end bonus payouts in search of new job opportunities. The higher seasonal turnover rate prompts employers to intensify their hiring activities, so that they are able to fill vacant positions to ensure their businesses continue uninterrupted.
Based on the survey results, Sales & Marketing, Accounting and Engineering have been categorized as the top 3 specializations that employers require most. They also fall under the top 3 most difficult to recruit specializations because they are high in demand and companies have problems filling those positions.
In terms of what plans they hope to embark on in the next 6 months, 43% of the participants said that they are looking at expanding their talent pool and in an effort to retain talent and foster employee loyalty which is essential for the long-term success of their companies, 24% of them intend to increase salaries and compensation packages.
The respondents explained that it’s important for them to expand and have sufficient manpower
especially when the market is slowing down. A strong workforce will help boost company productivity and improve sales, as there will be enough resources to ensure that their customers are well-served and satisfied.
“Employers can take advantage of our Job Postings. We are the first in Asia to enhance our job advertisement format to Richer Job Ads with Salary Matching, providing candidates with the right information they need about your company and the job position before they apply. These changes ensure that those who apply are serious and relevant,” said Ms. Chook Yuh Yng, Country Manager of JobStreet.com.
“JobStreet.com also offers a comprehensive combination of online talent sourcing solutions designed to help employers find the right candidate. The JobStreet.com Resume Search allows employers to immediately contact talent for faster hiring and better choices and the JobStreet.com Career Microsite is a cost-effective talent bank system that enhances recruitment campaigns, making hiring easier and more affordable than before,” she added.
Note: A total of 495 HR professionals across various industries in Malaysia participated in this survey conducted in September 2015.
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