M’sia’s job market expected to be stronger this year
KUALA LUMPUR: Malaysian employers and talents paint a more optimistic view on the job market this year, which is expected to be stronger and driven by an increase in hiring activities as well as the improving market confidence, JobStreet.com remarked based on its Job Outlook Report 2018.
According to the JobStreet.com Job Outlook 2018 report, job opportunities for candidates are expected to be stronger than they were in 2017, with 30 per cent of Malaysian employers indicating an increase in hiring activity – a 12 per cent increase year-on-year (y-o-y).
It also highlighted that 15 per cent of the employers surveyed for the report, have mentioned that they would maintain their hiring rate in 2018. In addition, a notable drop in ‘hiring freeze’ was observed by a five per cent improvement from last year, affirming the growing momentum in hiring activity.
This growing confidence correlates with an increase in job postings – a nine per cent increase y-o-y – in which online migration of non-executive job postings contributed three per cent to the overall growth.
“We see both employers and candidates sharing a more optimistic outlook towards the job market this year.
“The key drivers of this sentiment are the rise of start-ups, expansion of local businesses, and entry of foreign companies that will lead to job creation and the need for diversified skills.
“Therefore, we can expect both job hunting and hiring activity to pick up in 2018,” said JobStreet.com Malaysia Country manager Chook Yuh Yng, in a press statement.
With a growing market confidence this year, the JobStreet.com Job Outlook Report 2018 also revealed some insights on competitive hiring strategy – employee compensation and benefits.
According to the report, the top five benefits desired by employees are: health/medical insurance, transportation allowance, medical coverage for family/dependents, pension/retirement fund and flexible working hours.
“In times of increased hiring activity, employers should look into emerging needs of employees as pull factors to be competitive in talent attraction and retention. Essentially, it is important for employers to find a balance between employees’ desired benefits and offered benefits to be able to retain and attract talent,” added Chook.
The JobStreet.com Job Outlook Report 2018 was shared during the JobStreet.com Malaysia Career and Training Fair 2018 (MCTF’18) along with JobStreet.com’s latest feature, Career Insights – a data-driven tool for insights into candidates’ intended job roles such as salary data, skill requirements, and industry trends.
This new feature from JobStreet.com boasts a total of 162 roles, encompassing 75 per cent of the most popular job roles across all industries to help candidates make better informed career decisions.
The JobStreet.com Malaysia Career & Training Fair 2018 (MCTF’18) is organised by AIC Exhibitions Sdn Bhd (AIC Exhibitions) in collaboration with JobStreet.com to gather over 130 companies across industries for candidates to meet and network with Malaysia’s top employers under one roof.
“With the job market expected to gain momentum, we hope the JobStreet.com Malaysia Career & Training Fair will serve as a platform for employers to find the right talent, and for candidates to seize the career opportunities offered here this weekend,” said AIC Exhibitions managing director Datuk William Ng.
Source: Borneo Post Online