petronas twin towers in KL, Malaysia

The employment landscape in Malaysia is undergoing a rapid transformation driven by emerging technologies and evolving trends. The Malaysian workforce is witnessing an exciting era of emerging opportunities across various industries, according to our 2024 Page Insights Salary Guide.

The nation’s entrepreneurial spirit and hunger for growth have sparked a surge in career advancement pursuits and a strong desire for purposeful work. Understanding the emerging hiring trends becomes paramount as businesses navigate this transformative landscape.

Related: The future of work in Asia

Digital transformation in banking and financial institutions

Banks and financial institutions are placing a strong emphasis on automation, digitalisation, and the development of data-driven businesses. As a result, there is a growing demand for professionals with expertise in data analytics, artificial intelligence, and machine learning.

Related: Top 10 highest-paying jobs in Malaysia for 2023

Fintech: Rising need for e-money and blockchain proficiency

In Malaysia’s fintech sector, the need for talent with experience in e-money and blockchain technologies is being propelled forward. This sector is a driving force in shaping the job market, and individuals with proficiency in these areas will continue to be in high demand.

Related: 5 most in-demand tech roles for 2023

Revolution in the Engineering and Manufacturing sector

The engineering and manufacturing sector is also experiencing a digital revolution, primarily driven by Industry 4.0.

This transformation has prompted companies to prioritise digitalisation efforts, leading to an increased demand for professionals skilled in data-related disciplines and automation.

Moreover, companies place great importance on health, safety, and the environment (HSE), as well as an increased focus on the environmental aspects of the ESG agenda.

Related: What you need to know about ESG now

FMCG: Integration of omnichannel marketing and activation experiences

In the fast-moving consumer goods (FMCG) sector, successfully integrating omnichannel marketing strategies with engaging activation experiences is crucial for effectively mapping the online and offline consumer journey.

The demand for candidates who can quickly adapt to evolving consumer behaviours and make data-driven decisions based on insights and trends is particularly high. Sales professionals with experience in high-growth channels are also highly sought after.

Evolving landscape of Finance and Accounting

Professionals with advanced analytics skills are in high demand in finance and accounting. Employers value individuals with strong stakeholder management and communication skills, and the ability to collaborate across departments and exert an influential impact.

Related: Navigating hybrid work: Redefining traditional work patterns for success in the changing talent landscape

Digitalisation and M&A in the Healthcare and Life Sciences sector

Within the healthcare and life sciences sector, digital transformation and mergers and acquisitions (M&A) activities have led to redundancies across various levels, including senior commercial positions.

Medical device companies are actively seeking local talent with linguistic skills relevant to Southeast Asia and the Asia-Pacific regions for sales roles. Clinical research professionals with regional experience are highly coveted by contract research organisations, pharmaceutical companies, and medical technology firms.

Prioritising talent acquisition in a competitive labour market

Talent acquisition continues to be a key priority for companies across the spectrum in Malaysia. Many are still willing to offer competitive salaries to ensure they hire candidates with the requisite knowledge and experience in their fields in what’s shaping up to be a tight labour market.

Our 2023 Salary Guide provides a comprehensive look at the most up-to-date salary numbers in different industries and for all experience levels. Download a copy of our latest salary report here.

Download our 2023 Salary Guide here

To find out how your salary compares to other roles and industries in India, go to our Salary Comparison Tool. Are you seeking a new role? Click here for these available job openings now.

Disclaimer: Salaries can differ from one company to another, depending on your skills, knowledge, and experience. 

Start a hiring conversation with Michael Page to find out how you, too, can reap the many benefits of a leading global recruitment agency.

Read more:
How HR needs to evolve to support the future of work
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