ASIA BRACES FOR CHANGE: TAILORING TALENT …my/@content/... · ASIA BRACES FOR CHANGE: TAILORING TALENT STRATEGIES FOR UNCERTAINTY Welcome to the launch of the 2017 Hays Salary Guide.

ASIA BRACES FOR CHANGE:TAILORING TALENT STRATEGIES FOR UNCERTAINTYWelcome to the launch of the 2017 Hays Salary Guide

OUR FOOTPRINT

33 countries worldwide

252offices worldwide

9,000+staff worldwide

12 offices in Asia

ABOUT THE GUIDE

10years

3,000+organisations

6m+employees

SECURING THE RIGHT TALENT IS KEY TO NAVIGATING UNCERTAINTY & OPPORTUNITYTHE LANDSCAPE IN MALAYSIA

2016 HAYS GLOBAL SKILLS INDEX

A CAUTIOUS ECONOMIC OUTLOOK

11%

28%

61%

Decrease

Remain thesame

Increase

33%

51%16%

Weakening

Static

Strengthening

Expected business activity across Asia General outlook for the economy across Asia

45%in Malaysia expect static conditions

63%in Malaysia expect an increase

-5%

PERMANENT HEADCOUNT FORECAST IN ASIA

11% will decrease42% will increase 47% remain the same

=

3-6% SALARY INCREASES WERE THE NORM IN ASIA

0

3-6% 50% in Malaysia gave between 3%- 6%

10% in Asia never gave an increase

3% 58% in Japan gave up to 3%

MOST EMPLOYERS IN MALAYSIA WILL AWARD 3-6% INCREASES

BUT… 50%of candidates in Malaysia expect more than 6%

36%of employers in Malaysia will give more than 6%

% SALARY INCREASES FOR THE YEAR AHEAD

between 6%-10% in China

up to 3% in Japan

between 3-6% in Hong Kong and Singapore

CANDIDATE CONFIDENCE IN ASIA

anticipate moving within six months25%

anticipate moving within 12 months20%

interested in learning about a new opportunity 46%

+4%

actively looking for a new job34%-10%

WHY EMPLOYEES STAY IN MALAYSIA

40%

Work-life balance

38%

Salary & benefits

31%

Work location

65% OF EMPLOYERS IN ASIA OFFER BONUSES

a further 28%offer up to 10%

in Malaysia, 33%offer between 11-50%

BUT…56% of candidates in Malaysia are not happy with their total compensation package

85% OF EMPLOYERS IN ASIA OFFER BENEFITS

Most popular in Malaysia are:

Flexible working hours/compressed working weeks

Flex-place, such as working from home

Part-time employment

Car/car allowance

Life assurance

Popular flexible working benefits:

Club/gym membership

DIVERSITY POLICIES

52% said they have a diversity policy in place

18% said they are adhered to ‘well’’

36% said they are adhered to ‘fairly well’’

31% OF WOMEN IN MANAGEMENT POSITIONS IN ASIA

Malaysia

35% 35%China

33%Hong Kong

31%Singapore

22%Japan

-2%

FOREIGN EMPLOYEES MAKE UP 12% OF ASIA’S WORKFORCE

China

6%Malaysia

11%-4%

Singapore

21%

SKILL SHORTAGES CONTINUE TO BURDEN EMPLOYERS

96%

said skills shortages have the potential to hamper effective operations

36%

don’t have the talent needed now to achieve business objectives

59%

of employers would consider sponsoring an expat

-6%

TURNING CHALLENGES INTO OPPORTUNTIES

THE EFFECTS ON MALAYSIA’SINDUSTRIES & PROFESSIONS

ACCOUNTANCY & FINANCE

• Jobs growth thanks to Malaysia’s positioning as a shared services hub

• The introduction of the goods and services tax in 2015 continues to create new openings

• Replacement hiring will be prevalent throughout the year

• Hiring managers placing greater emphasis on candidates’ soft skills

BANKING & FINANCIAL SERVICES

• Demand high for relationship managers, client and credit professionals

• Malaysia’s Islamic finance industry continues to grow in terms of product lines and market share

• Fintech continues to grow in Malaysia

HUMAN RESOUCES

• Healthy hiring activity at all levels

• Organisations committed to making employee retention and engagement a key priority for 2017

• C&B candidates will be in high demand

INFORMATION TECHNOLOGY

• Jobs boost thanks to digital transformation

• Software developers with C++, .Netand Java language skills highly sought after

• IT contracting becoming an increasingly popular option for candidates

• Organisations reviewing salary packages to stop exodus of talent from critical projects

MANUFACTURING & OPERATIONS

• Candidate attraction will pose challenges for employers

• Overall candidate market is rich but restructuring of remuneration and benefits packages is a must

• Foreign start-ups targeting candidates with a strong background in project management

• Significant talent acquisition across medical devices, pharmaceuticals, chemicals and food manufacturing

OIL & GAS

• Contraction in labour market due to lack of new field development projects

• Many oil and gas companies looking to move operations from Singapore to Kuala Lumpur

• Hope remains the oil price will recover throughout the year

SALES & MARKETING

• Organisations will target candidates with strategic niche skill sets

• Salary structures will be reviewed in an attempt to attract high-level hires

• Business development roles within FMCG will be key growth areas in 2017

WHAT SHOULD EMPLOYERS OF ASIA DO TODAY?

FOOD FOR THOUGHT

Plan your business strategy & talent pipeline simultaneously

Evaluate & enhance talent management practices

Open lines of communication

Develop smarter training programs

Future-proof against skill shortages

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THANK YOU

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