DESPITE the job market uncertainty situation posed by the COVID-19 pandemic, Hays, a global leader in specialist recruitment, reported that businesses in Malaysia expect business activity to increase by 54% this year.
Forming the foundation of this belief are steps the country has taken to build momentum towards a developed digital economy such as an increased focus on strengthening and upgrading basic telecommunication networks as well as an allocation of RM9.4 bil in Budget 2021 which encompasses the education, employment, and digital transformation sectors.
Separately, the national digital infrastructure plan Jalinan Digital Negara (Jendela) has also allocated funds to improve the connectivity of schools across the country in support of the transition to online learning, as well as providing a better broadband experience and preparing the country for 5G technology.
At the same time, the Malaysia Digital Economy Corporation (MDEC) has plans to provide reskilling and upskilling programmes to ease the transition of the existing workforce into the ICT industry.
MDEC has also set up various schemes like the SME Digitalisation Grant Scheme and Smart Automation Grant to support businesses in their automation and digitisation adoption efforts.
These measures not only support the improvement of digital connectivity but also creates a more inclusive digital society, spurring business activity that could increase Malaysia’s opportunity to be a regional digital hub leading the Fourth Industrial Revolution.
“The last twelve months saw a blurring of the lines between the digital and information technologies in Malaysia, and 2021 is expected to continue this trend,” commented Hays Malaysia’s managing director Tom Osborne on its 2021 Hays Asia Salary Guide.
“This has been brought about by companies moving enterprise systems towards emerging techs and investing heavily in digitalisation capabilities.”
Moreover, as companies increasingly incorporate data functions into business decisions and grow these increasingly important chapters of operations, talent who can analyse or crunch data will continue to be required over the coming year, according to Osborne.
“All of this fluctuation will lead to substantial salary turbulence, leading companies to seek out creative salary packages with an emphasis on remunerating highly certified talent with technical allowances,” he projected.
“This technique not only circum-navigates wage restrictions but can also be highly advantageous for onboarded employees in the right position.”
Roles that will be best rewarded can be found in the market-retrenched technical areas of coding and algorithm within e-commerce and in the digital webspace, as well as in the more niche areas of emerging technologies, added Osborne. – Aug 26, 2021
