KUALA LUMPUR: Talent requirement will continue to expand this year as the unemployment rate narrows given the anticipated economic recovery, according to PERSOLKELLY Malaysia Salary & Employment Outlook report.
The report stated that socioeconomic factors coupled with technological advancements have had an undeniable influence on job market dynamics.
"Both employers and employees should be aware of what this means for them. More importantly, what they can do to leverage and continue thriving amidst the evolving landscape," said the report.
As workplaces continue to transform, human resources (HR) have become more crucial than ever in fostering employee engagement and productivity.
Aligning company and employee values is critical with a new generation entering the workforce, and HR functions will need to find ways to attract and retain talent while actively shaping a healthy work culture.
Simultaneously, the report underscores the increasing importance of training and development initiatives.
"Beyond traditional metrics, today's employees prioritize flexibility, career growth, and coaching. Gen Z employees, in particular, seek a holistic work experience that goes beyond financial considerations.
"With the continuing evolution of work, HR's dynamic function remains integral in shaping a positive work environment, attracting and retaining top talent and enhancing the overall employee experience," said the report.
In the context of escalating global instability and uncertainty, individuals skilled in navigating the risk management landscape are increasingly sought after on a global scale.
Many companies now recognise the imperative to identify, assess, and mitigate risk exposure in their day-to-day operations, understanding the potential for significant consequences in the future.
The report emphasises the array of opportunities available for both recent graduates and seasoned professionals within the realm of legal and risk management, considering the multifaceted functions within these fields.
Furthermore, the widespread adoption of digitalization by organisations has heightened the importance of compliance with various regulations, particularly in the realm of data.
"All in all, the legal and risk management fields will open up many career opportunities to explore.
"While shifting to a new industry will require a period of adjustment, legal skills are also highly transferable, enabling job seekers to build a more diversified and sustainable career," it said.
Meanwhile, as consumers become increasingly digitally savvy, their evaluations extend beyond the product itself to encompass the entire experience, including brand messaging, interactions with the company, and the overall purchasing journey.
To achieve these expectations, robust content strategies and data analytics capabilities are crucial to driving success within the sales and marketing domains.
The report's findings suggest that even as businesses and consumers have become more reliant on technology, human touch is still important.
As such, sales and marketing talents need to be able to personalize communications to audiences, even as they reach out to them through technology.
"Talents must be capable of crafting compelling content and employing effective strategies to ensure the most relevant information is going out to prospects.
"In essence, sales and marketing professionals will need to constantly stay abreast of the latest market developments to remain relevant and thrive in the dynamic marketplace," it said.
Persolkelly Malaysia country head and managing director Brian Sim said that for businesses to continue thriving, ensuring the resilience and agility of the workforce is a must amidst continuing and emerging global challenges and changes.
With recent advancements in technology, Sim said the impact that it brings is undeniable, and employers will be looking at ways to innovate and upscale their businesses by leveraging these advancements.
"Therefore, it is crucial for their workforce to be aligned in bringing to life this transformation," he said.
All in all, Brian emphasises the proactive approach that both employers and employees should take.
"Employers are responsible for providing an environment that allows employees to work effectively.
"On the other hand, employees are encouraged to continually hone their skills and be future-ready to meet constantly evolving job requirements in today's competitive market," he added.