Talent Trends 2021

Talent Trends 2021 Report: The Malaysia Salary Guide - Transformed

The Michael Page Salary Benchmark Guide has traditionally been our annual salary guide that advises business leaders, hiring managers and job seekers to make informed hiring decisions in Malaysia. However, given the COVID-19 pandemic and its continued disruption on the global economy, we recognise that our salary guide must go beyond salaries. It needs to provide a current overview of the future of work – reflecting the true environment and ongoing challenges.

Enter Talent Trends 2021: Our refreshed report features new insights and market sentiment for industries that have experienced significant upheavals in the past year. The hiring landscape has changed significantly. Human capital leaders had to solve new challenges and adapt quickly to set up systems for remote operations. Therefore, this report will cover prominent recruitment and talent-related focus areas such as digital readiness, organisational design, flexible work, leadership, performance management, and diversity and inclusion in the Asia-Pacific region, and a deep dive into the specific hiring trends in Malaysia.

The insights in this report are derived from a regional survey that covers 12 Asia-Pacific markets. The responses came from over 5,500 businesses and 21,000 employees, of which 3,500-plus are directors or CXOs – making our Talent Trends 21 report, the definitive guide to hiring trends for Malaysia, as well as the Asia-Pacific region for the year ahead.

Watch the webinar and receive the Talent Trends 2021 Report here.

Malaysia’s Key Salary Statistics

33%

of companies in Malaysia are looking to increase their headcounts in 2021

66%

of those employed anticipate looking for new job opportunities, while another 28% are passively open to new roles

5%

expect a zero increase from their current salary for new job offers

Salary Report Highlights

1. Future workplace trends

From our findings, learn about the top priorities for CXOs in 2021, key investment areas, employees’ preferences on workplace flexibility, and performance assessment.

2. People-first strategies

From leadership communication to mental health matters, the report highlights the best people strategies to engage your employees.

3. Salaries and bonuses

Find out how your company’s offer for new hires compare against competitors and expectations from job seekers.

4. Attracting and retaining top talent

Remuneration may be crucial, but it is not everything in talent attraction. Learn about the non-monetary aspects of attraction and retention strategy that job seekers value most.

The Malaysia Market: Embracing disruptions and the road to recovery

Paul Cooper
Managing Director,
Malaysia

The impact of the ensuing COVID-19 pandemic has had a drastic impact on the economy in Malaysia. Businesses had to re-strategise their operations and resources. On the recruitment front, interviews and onboarding processes had to move to digital platforms. Despite the challenges, various sectors like tech and FMCG have begun to experience steady recovery.

Our Talent Trends 2021 report reflects vital market insights for the next 12 months ahead of us. Acquiring and retaining high potential talent will be crucial for future growth. We saw many businesses looking to prevent employee cuts and redundancies as much as possible during the pandemic. And several industries are already showing signs of a healthy recovery.

For instance, the technology sector has remained buoyant throughout 2020, with businesses emphasising business intelligence, data analytics, and software development. Demand for semiconductors and consumer electronics also sustained the engineering and manufacturing sectors. The pandemic also placed critical importance on healthcare and life sciences roles, as we see Malaysia’s healthcare sector experience a significant increase in demand for talent from the manufacturing and supply chain expertise.

Like other markets in the region, the e-commerce market grew and continues to flourish. FMCG has remained resilient, and with ongoing demand, looks set to last well after the pandemic is gone. FMCG has also helped to support other associated industries, such as chemical and agriculture.

Looking ahead, Malaysia is relatively well-positioned to bounce back from the impact of COVID-19. In the meantime, businesses are well-advised to focus on employee engagement and well-being, ensuring that the entire organisation is poised for the recovery phase and beyond.

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