Kelly Services Malaysia Employment Outlook and Salary Guide 2012/13
As Malaysia transforms itself from an input-driven growth strategy to one increasingly driven by knowledge, the talent required to advance the economic transformation agenda must possess skills and qualities to match industry requirements. The availability of such top talent will complement and accelerate the transformation from input-driven to a productivity-driven growth strategy. This forms part of the findings in the Kelly Services Malaysia Employment Outlook and Salary Guide 2012/13, a comprehensive annual tool on salary trends, job titles and employment outlook across industries in the Malaysian marketplace here today.
The Salary Guide also noted on the high demand for highly-skilled workforce both at the entry and experienced levels. The qualities sought are from the professional and technical skills, and areas which are acute would be Engineering, Life Science, Pharmaceutical, Information Technology, Communications, Content and Infrastructure, and the Retail Sectors. These ranges of core skills become critical as industries move up the value chain and undertake new activities as an increasing number of Malaysian companies penetrate the global markets, establishing themselves regionally as well as countering stiff competition from other countries providing higher value-added activities, such as research and development.
Key findings in the Kelly Salary Guide, based on information tabulated during the 1st quarter of 2012 till the end of 2nd quarter of 2012 are :
- Continued investment by domestic-orientated industries and ongoing implementation of projects under the Economic Transformation Plan (ETP) will provide further boost to private investment. Malaysia’s aspiration is to advance towards becoming a high-income, high value-added economy in the next decade, with growth that is underpinned by greater innovation, productivity and enhanced efficiency.
- The Information Communication Technology (ICT) sector will become the cornerstone for Malaysia’s journey towards achieving a fully developed high-income economy by 2020 and is expected to contribute 10.2% to the nation’s gross domestic product by 2015.
- Entry Point Projects (EPPs) under the Greater KL/Klang Valley are aimed to generate 1.7 million incremental employment and an additional 2.5 million immigrants are expected to relocate here by 2020. 20 % of this workforce is expected to come from overseas – both expatriates, as well as returning Malaysian talents. The economic vitality of Greater KL/KV through activities, contributing RM190 billion in Gross National Income (GNI) over the course of the next 10 years, will create over 300,000 jobs.
- The Kelly Salary Guide 2012/2013 presented an optimistic outlook in human capital development in five sectors - Oil, Gas and Energy, Tourism, Electrical and Electronics, Communications Content and Infrastructure, and Business Services.
- The Malaysian shared services and outsourcing (SSO) sub-sector had seen a 32% growth in specific sectors compared with 23% two years ago. The financial services, oil and gas, logistics and transportation sectors are the main contributors to this growth. A total of 2,210 new jobs created represent a 50.2% jump in number of jobs, backed by growth of domestic players to secure more global work, re-investment from existing multinational companies (MNCs) and attracting new MNCs to invest in the country.
- The Financial sector is expected to contribute RM121.5 billion in GNI and create 45,000 jobs. The major milestone of the year was the Prime Minister’s launching of the Financial Sector Blueprint, which charts the direction of the financial system over the next decade. Strong emphasis is placed on the four core sectors in Islamic finance : Islamic Banking, Takaful, Islamic Capital Market and Islamic Money Market. The development of talent for the financial sector continues to present considerable challenges for the industry as demand continues to exceed supply. Significant investments have been made by Bank Negara to support the development of high quality talent for the financial sector, across all levels from entry to leadership positions.
- There is strong demand for the engineering and Technical positions which registered improved hiring activities for contract workforce. In the Oil & Gas and Energy sector which has seen a heightened Oil & Gas exploration and production activities in Malaysia, a sustainable pool of top talent is required in various specialization such as electrical, civil and structural, mechanical and instrumentation, chemical and in roles such as geologist, petroleum and wells engineer.
On human resources strategies, the battle for skilled talents continues unabated in Malaysia. The demand for Human Resources professionals with a focus on areas such as compensation & benefits, learning & development and talent acquisition and retention continues. As talent mobility is rampant in the globalize platform, companies need to increase their focus and investment on how they manage people through change which includes redefining employees’ roles in the organization, training and development, and employee engagement.
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