KUALA LUMPUR: Demand for tech talents continues to surge in Malaysia, prompting an uptrend in online hiring activity in the first quarter.
According to Southeast Asia Online Recruitment Trends Report, online recruitment growth in Malaysia registered 11 per cent annual growth in February 2018, but fell 11 per cent in March.
However, the oil and gas (O&G) sector achieved the steepest annual growth among all other sectors in March, the report release by Monster.com entitled Southeast Asia Online Recruitment Trends Report for First Quarter (Q1) 2018.
The Banking, Financial services and Insurance (BFSI) sector was off to a poor start with overall online hiring activity falling four per cent in the first quarter.
The report said Malaysian economy remained resilient in the fourth quarter of 2017, driven predominantly by private sector demand.
It added the strong outlook for the last quarter correlates with the steady growth in Malaysia’s job market and marks continued business confidence especially in the tech, logistics and O&G sector.
“Malaysia has seen significant progress in its digital transformation journey, launching the Digital Free Trade Zone, and introducing multiple digital initiatives in its national agenda,” it said.
As traditional business models are disrupted, small medium enterprises (SMEs) - which represent 98 per cent of businesses in Malaysia - need to continue to scale through new technology adoption, the report noted.
It said the surge in the battle for talent in tech, e-commerce and professional services signals a strong demand for niche skills to match and adapt to changing market needs.
For Southeast Asia, the report indicated that the region is anchored in a number of infrastructural initiatives and emerging technologies, which are set to have an effect on the labour force across industries.
Disruptive abilities and technologies such as artificial intelligence and big data will continue to increase the demand for specialised and skilled employees.
However, the report indicated that automation may reduce the need for unskilled workers, also highlighting job seekers need to adapt and reskill in order to stay in tune with labour market demands and take advantage of the benefits of digitalisation.
Monster.com - APAC and Middle East chief executive officer Abhijeet Mukherjee said nusinesses across Southeast Asia are currently on a journey of transformation.
“Some companies are leading the charge for adaptation and change in their human resource (HR) processes, while others are just beginning to figure out how their business needs to evolve to stay competitive,” he said.
He said the transformation was largely due to a digital revolution and increase in artificial intelligence, big data and cloud computing skills, which affected the recruitment process, particularly online hiring.
/end