Hays Quarterly Report on Job Demand in Malaysia

Niche skills in hot demand in Malaysia provide career signposts according to Hays Quarterly Report

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A growing demand for niche skills this quarter reveals the areas both employers and candidates should consider investing in, according to recruiting experts Hays in Malaysia. Customer experience experts, cloud implementation leads and social media gurus are among the niche skills in high demand but in low supply, according to the latest Hays Quarterly Report.

“Hays analyses trends emerging in the Malaysian job market each quarter to produce insights that can also act as signposts to areas worthy of career development or even training investment,” says Tom Osborne, Regional Director of Hays in Malaysia.

The latest report for April to June reveals strong demand for the fairly new role of head of customer experience in the contact centre space. Professionals in this role have a thorough understanding of the customer and how to deepen the customer relationship.

“Another niche skill set in great demand this quarter and beyond is the compensation & benefits specialist in the HR space. This skill set is well recognised the world over as a key way to gain a competitive advantage by attracting and retaining top talent,” says Tom.

“Talent management is another niche skill set in growing demand to develop the most effective people strategies.”

“Most of us have heard about the rise of social media in the marketing space but our latest quarterly report reveals employers in the PR and communications space are also looking for candidates that know how to harness the power of social media.

”The move to the cloud by many companies in Malaysia is generating high demand for a range of professionals with cloud knowledge including cyber security specialists and cloud implementation experts.

“Our quarterly reports offer useful insights for any careerist or people manager including which established skill sets are in growing demand,” says Tom.

According to the Hays Quarterly Report for April to June, demand is highest for the following skilled professionals:

Accountancy & Finance:

• Chief financial officer – We are seeing a huge spike in demand for CFOs mostly due to candidate movement.
• Accounts payable manager – The high number of startup shared service centres is driving strong candidate demand.
• Finance business partner – We are seeing hiring briefs from across all industries. Candidates must possess good commercial acumen. FP&A experience is highly valued.

Banking & Financial Services:

• Credit risk modeling – Candidates with the ability to create credit risk models and model variation are in high demand this quarter.
• Auditors – Banks are creating new revenue generating initiatives and so need internal auditors, consumer audit specialists, treasury/investment auditors and investigations auditors.

Contact Centres:

• Head of customer experience– A fairly new role, the head of customer experience owns all customer touch points and looks for new ways to deepen customer relationships.
• Customer experience project manager – Businesses are hiring these candidates to understand customer behavior and roll out new customer experience initiatives.
• Training managers – Training managers are in demand across the board but particularly to train for roles in telesales.

Finance Technology:

• Cloud implementation specialists – Candidates with knowledge and experience in cloud solutions continue to be in hot demand.
• Cyber security and IT governance – We also expect strong demand to continue for these skills as more companies adopt web-based and cloud-based solutions.
• Data analytics– A must have skill set for companies to help them understand emerging trends and how to plan for the future.

Human Resources:

• Compensation & benefits – C&B is still seen as a niche skill in Malaysia but highly valued to help boost talent retention.
• Talent managers – Also considered a niche skill in Malaysia, talent managers are helping companies build talent pipelines and career development programs.

Information Technology:

• Cyber security – Cyber-attacks are very rampant now and sometimes the data breach could affect the personal information of million users
• Internet of things – More skilled professionals are required to maintain the devices and ensure all the medical equipment are safe

Insurance:

• Actuarial professionals – We are seeing steady demand across both life and general insurance at all levels of seniority. Senior candidates must be a fellow of a recognised actuarial institute.• Process improvement specialists – Candidates need to be able to demonstrate process improvement and operational excellence skills.

Legal:

• Corporate M&A – Successful candidates will be involved in due diligence, negotiating to secure needed documents and managing post-merger issues.
• Mandarin language skills – Mandarin is becoming a ‘must have’ skill as more commercial companies and law firms acquire clients from China.

Sales & Marketing:

• Product managers – Product development is of increasing importance. Product managers should know all aspects of product development including pricing and how to achieve cost efficiencies.
• Export/International sales managers – Market conditions in Malaysia including the weakening ringgit is seeing companies exploring new markets overseas with the help of the manager.
• Digital marketers – This role will continue to feature in our quarterly reports as companies continue to move away from traditional marketing to use online channels and digital marketing strategies to grow market share, product lines and revenues.

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The aim of education is to secure a job in the future that has demand and a high salary. This will ensure that you will have job security and stable income to be able to sustain your lifestyle and more importantly to take care of your family.

When choosing the right course to study in Malaysia, one important criteria that students should look at is the job demand. Choosing to study a course that has future potential high job demand and salary would ensure that you have a higher chance of a successful career that would support your lifestyle goals. If you don’t plan carefully, you may end up studying a course that has no job demand after you graduate. This would be an incredible waste of your time and money.

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