About a third of Malaysian employers are looking to increase headcount in 2021 following the economic downturn caused by the Covid-19 pandemic, according to Michael Page’s Talent Trends 2021 report.
The report by the job and recruitment agency released yesterday noted that while the pandemic and the resulting economic downturn have had a significant impact across the Asia Pacific, including Malaysia, optimism is already starting to show, with about 33% of companies in the country looking to increase their headcount and 40% to maintain status quo in 2021.
Its Talent Trends 2021 Report is based on a survey of 12 Asia Pacific markets, with over 5,500 businesses and 21,000 employees participating.
It noted that as a result of the Covid-19 pandemic, a great acceleration of technology advancement and adoption was experienced in Malaysia.
“From July 2020 onwards, various sectors in Malaysia began to experience steady recovery.
“For example, the technology sector remained buoyant throughout 2020, with businesses placing emphasis on business intelligence, data analytics, as well as software development,” said Paul Cooper, managing director of Michael Page Malaysia, Thailand and Vietnam.
The report highlighted the growing demand for software developers as many large organisations are priming towards internal development capabilities.
“In view of economic demands, sectors earmarked for highest hiring activity are technology and fintech, global business services/shared service centres, fast moving consumer goods, healthcare and life sciences as well as engineering and manufacturing, according to report,” Cooper added.
According to the report, 66% of employed professionals anticipate looking for new opportunities in 2021 while 31% of respondents say they do extensive research before applying for a job.
Michael Page said that this suggests increased employment activity in Malaysia within a candidate pool who are becoming increasingly empowered with a wealth information.
“Business leaders are encouraged to remain agile and adapt to work practices and strategies to reflect a new working environment. Communication and trust will be key in a remote working world as will the ability to keep an eye on what will no doubt be a rapidly evolving future,” Cooper advised.
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