It seems the year of the dog is pacing into positive territory at least for job seekers and those looking for better prospects in 2018. According to JobStreet.com, a leading talent sourcing online platform in its Job Outlook Report 2018, indicates that both employers and talent have a more optimistic outlook in 2018 job opportunities for candidates are expected to be stronger than they were in 2017, with 30% of Malaysian employers indicating an increase in hiring activity – a 12% increase year-on-year.
Meanwhile, 15% of the employers surveyed have mentioned that they will maintain their hiring rate in 2018. In addition, a notable drop in “hiring freeze” was observed by a 5% improvement from last year, affirming the growing momentum in hiring activity.
This 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.
“We see 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,” said Chook Yuh Yng, Country Manager of JobStreet.com Malaysia.
With a growing market confidence this year, the report also revealed some useful insights on competitive hiring strategy – employee compensation and benefits. The top five benefits desired by employees are: health/medical insurance, transportation allowance, medical coverage for family/dependents, pension/retirement fund and flexible working hours.
Some of the key reasons for the increase in job opportunity can be attributed to various reasons like the rise in start-ups spurred by the nations move towards digitalisation, expansion of local companies in new fields, entry of new MNC’s and diversification in jobs and skills.