As a result of increasing regulations in Malaysia, 2017 will see risk professionals in high demand. This is just one of the top 10 talent trends for 2017, according to recruiting experts Hays in Malaysia.
Candidates who are able to reduce financial institutions' exposure to risk will stand out as employers step up their efforts to ensure they adhere to regulatory requirements.
'Risk and compliance will be two hot areas where fierce competition will take place for the right candidates,' says Tom Osborne, Regional Director of Hays in Malaysia.
According to Hays, the increasing threat of cyber security has created huge demand for security experts who can safeguard the IT systems of organisations against malicious cyber-attacks.
'Experienced candidates will become the top beneficiaries of strengthened cyber security efforts. We have found that both foreign companies and domestic small businesses have set aside budget to increase headcount to combat the threat of attacks to their IT infrastructure,' says Tom.
Hays also finds that employers will be taking into consideration the soft skills and personality of potential new recruits in the recruitment process. 'Employers are keen to find out how a candidate will potentially relate to and interact with other people in the business,' says Tom.
Hays' top 10 talent trends for 2017 in Malaysia are:
1. Social media expertise: 2017 will see many businesses look to solidify their social media platforms to become more sales-driven. This will create demand for multi-faceted social media professionals who can not only curate, edit and write content to drive engagement and awareness on a daily basis, but also manage paid advertising designed to create leads and drive sales.
2. Rise in treasury roles: A number of new treasury roles will be created in 2017. As we move into an era of data-centricity, companies are becoming more regimental in analysing their cash flow for budgeting purposes and forecasting in preparation for future project roll outs. They believe effective cash flow forecasting will allow potential financial risks to be identified and mitigated at an early stage.
3. Soft skills essential: Candidates looking for their dream job in 2017 might be surprised to learn the importance some employers will place on their soft skills. Depending on which industry they apply to work in, many employers will value soft skills over work experience as cultural fit rises up the list of criteria in 2017. A candidate may have extensive experience and stellar qualifications but they will offer little value if their soft skills are lacking. Employers will specifically look at what motivates the candidate and how they could potentially communicate with their team effectively and efficiently if they were to be successful in the recruitment process.
4. Shortage of candidates in supply chain: Demand for planning candidates in the supply chain sector will remain strong in 2017. It's a niche area in which companies will need to offer generous packages to attract qualified candidates. Large MNCs will continue to drive demand for supply chain professionals as they streamline business processes within their local operations.
5. New manufacturing hubs: The development of new manufacturing hubs in Negeri Sembilan, Johor and Penang will continue to fuel demand for manufacturing candidates in Malaysia. Employers are looking for candidates who are well versed in automation, process improvement, industrial engineering and research as the manufacturing sector remains the backbone of the Malaysian economy.
6. Bilingual skills: 2017 will see many employers look to recruit candidates who have a good command of Chinese and English for contact centres and customer service roles. Employers are struggling to find suitable candidates who are fluent in both languages in the local market.
7. HR professionals need business acumen: HR professionals looking to switch roles in 2017 will need to be commercially-minded due to the changing business landscape. Businesses will be looking for HR professionals who are strategic thinkers and can help them map out long-term growth plans.
8. Diversification: 2017 will see a large number of banks shift focus from corporate banking to commercial and SME segments. The diversification process will see demand for candidates across a wide range of functions. Top of the list will be risk professionals who can assist banks in consolidating their operations. Banks will also be looking to attract relationship managers and credit professionals.
9. Tightened governance: Banks are strengthening their governance structures which will create a number of positions across anti-money laundering, sales and regulatory compliance and market conduct functions. As regulators introduce new rules and regulations for fintech firms, we will see greater demand for risk managers and compliance professionals to ensure adherence to new guidelines.
10. Cyber security investment: MNCs and small businesses are planning to heavily invest in their cyber security defenses to ensure there will be no security breaches in 2017 and beyond. This will create a number of new roles for cyber security experts who will be expected to safeguard the IT operations of organisations who could be the target of cyber-attacks.
Hays is located in Kuala Lumpur at Suite 4 & 5, Level 23, Menara 3, Petronas, Kuala Lumpur City Centre.
Hays, the world's leading recruiting experts in qualified, professional and skilled people.
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For further information please contact Genevieve Ho, Marketing Executive - South East Asia at Hays on Genevieve.Ho@hays.com.sg
Hays plc (the 'Group') is a leading global professional recruiting group. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK and Asia Pacific and one of the market leaders in Continental Europe and Latin America. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 30 June 2016 the Group employed 9,214 staff operating from 252 offices in 33 countries across 20 specialisms. For the year ended 30 June 2016:
- the Group reported net fees of £810.3 million and operating profit (pre-exceptional items) of £181 million;
- the Group placed around 67,000 candidates into permanent jobs and around 220,000 people into temporary assignments;
- 22% of Group net fees were generated in Asia Pacific, 45% in Continental Europe & RoW (CERoW) and 33% in the United Kingdom & Ireland;
- the temporary placement business represented 58% of net fees and the permanent placement business represented 42% of net fees;
- Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Colombia, Chile, China, the Czech Republic, Denmark, France, Germany, Hong Kong, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Russia, Singapore, Spain, Sweden, Switzerland, UAE, the UK and the USA