As Malaysia’s technology space experiences rapid growth, more companies in the market are likely to utilize digital channels to boost revenue.
This will increase demand for IT specialists skilled in big data and e-commerce, according to the latest annual Global Salary Survey from specialist professional recruitment firm Robert Walters.
Published figures suggest that qualified job movers with the in-demand skills such as IT and corporate governance can expect an average overall salary package increment of 20-25% in 2016.
Talent development
With a slowdown in recruitment, Malaysian employers are turning their efforts towards upskilling their existing professionals, according to the study.
Malaysia is likely to remain cautious in the first half of 2016 due to pressures from the weak Ringgit as well as falling crude oil prices.
Across sectors, hiring is only anticipated either for replacement positions or within critical business units.
Hiring is anticipated to rise in the latter half of 2016 as the Malaysian economy is expected to stabilize.
"In times of market uncertainty, companies need to see the long-term value of investing in their employees," says Sally Raj, managing director of Robert Walters Malaysia.
"Staff retention is now more crucial than ever as Malaysian professionals are highly motivated by training and development initiatives as well as leadership opportunities. Despite this general slowdown, growth is still forecasted within IT, corporate governance and Islamic banking, all of which are driving recruitment of top-tier skilled specialists."
Penang has been earmarked as a hub for semiconductor and E&E manufacturing as more foreign direct investment enter the state.