KUALA LUMPUR: Asia’s leading talent sourcing partner JobStreet.com has revealed its Job Outlook Report 2018, which indicates that both employers and talent have a more optimistic outlook this year.
According to the report, stronger job opportunities are expected than what was available last year, with 30% of Malaysian employers indicating an increase in hiring activity, which is a 12% increase year-on-year.
Meanwhile, 15% of the employers surveyed have mentioned that they will maintain the same hiring level in 2018 as they did last year.
A notable drop of 5% in “hiring freeze” was observed compared with last year, affirming the growing momentum in hiring activity.
The growing confidence correlates with an increase in job postings – a 9% increase year-on-year in which online migration of non-executive job postings contributed 3% to the overall growth.
Rise of start-ups
Jobstreet.com Malaysia’s country manager Chook Yuh Yng said that they are seeing both employers and candidates sharing a more optimistic outlook towards the job market this year.
“The key drivers of this sentiment are the rise of start-ups, expansion of local businesses and entry of foreign companies that will lead to job creation and the need for diversified skills.
“Therefore, we can expect both job hunting and hiring activity to pick up in 2018,” she said at the Malaysia Career & Training Fair held at MidValley Exhibition Centre here today.
She added that in times of increased hiring activity, employers should look into emerging needs of employees as pull factors to be competitive in talent attraction and retention.
“Essentially, it is important for employers to find a balance between employees’ desired benefits and offered benefits to be able to retain and attract talent.”
The report also revealed some useful insights on competitive hiring strategies, aside from compensation.
It said that the top five benefits desired by employees are medical insurance, transportation allowance, medical coverage for family or dependents, pension or retirement fund and flexible working hours.