ACCORDING to recent findings of the 2022 Hays Asia Salary guide, 62% of employers in Malaysia said that they were confident about hiring the skilled talent their organisations need in 2022.
This is despite most organisations reporting that they were undergoing restructuring to adapt to changes in the world of work.
Now in its 15th edition, the Hays Asia Salary Guide compiles and presents salary and sector overviews based on real data and a survey of skilled professionals across China, Hong Kong SAR, Japan, Malaysia, and Singapore.
Over 9,500 responses were collected between October to November 2021.
The survey cited “higher compensation offered elsewhere”, “the lack of learning and development opportunities to upskill current employees” and “skills needed are too niche and hard to source in the current market” as top reasons employers gave for skill shortage in their organisations.
At the same time, 60% of employers who said their organisation is going through restructuring said it was due to changes in required skill sets while 58% attributed it to digital transformation.
“The growing confidence bodes well for the 50% of employers who said they intended to increase their permanent headcount next year,” commented Hays Malaysia managing director Tom Osborne.
“However, with COVID-19 transforming workplaces and accelerating digitalisation, the skills gap that organisations are already experiencing could become more apparent.”
The top soft skills valued by employers in Malaysia were communication skills, problem solving skills, and teamwork which was consistent across Asia.
Meanwhile the top hard skills were analytical skills, technical skills, and management skills. Malaysia was the only country where a strong emphasis was placed on management skills.
Asked about what they were doing to improve their job prospects, 55% of professionals in Malaysia said they spent time on developing soft skills and 32% on developing hard skills.
This was the highest number of respondents after China. 13% also said they were getting higher or additional qualifications. Most reported spending one to two hours per week on skills development.
“It’s heartening to see that there is a strong sense of initiative among professionals in Malaysia to upskill. That said, candidates should prioritise skills that are valued by employers and which are relevant to the current market and world of work,” commented Osborne.
“Employers on the other hand should continue to invest in training and upskilling their staff. Not only does this maximise productivity, it would also help in boosting employee retention.” – April 13, 2022