In-demand professionals in Malaysia who want to see up to 20 percent more in their paychecks may need to consider moving jobs, the latest Salary Survey Report by global professional recruitment firm Robert Walters suggested.
According to Business Insider, the report was released on Wednesday and the results indicated that a significant number of in-demand professionals in the country who made job hops or were promoted have the chance of seeing around 15 to 20 percent pay increase.
The report further indicated that professionals with particular skill sets can expect more salary increments reaching up to 30 percent. For the upcoming year, the expected range of salary increments is between three to eight percent.
Aside from the high chances that in-demand Malaysian professionals will get pay increases through changing jobs, the report also discovered that among the segments that displayed high demand are machine learning, developers, and specialists in artificial intelligence (AI).
However, in some other job segments, replacement hires were the main focus of some employers. The Robert Walters report suggested that there were fewer new roles created this year as opposed to the figures in 2018.
The global workforce saw a decline this year due to a slowing global economy but the hiring activity is expected to get a boost next year, particularly after governments settle their spending budgets.
For the upcoming hiring year, the survey suggested that companies will keep looking for employees who are more inclined to digital-savvy tasks and are willing to progress into higher innovative digitalization projects.
Managers are also expected to focus on searching for Malaysian professionals who are committed to learning new skills while ensuring that the roles they fulfill will contribute to the company and country's progress as a whole.
Meanwhile, the Pakatan Harapan government under Prime Minister Mahathir bin Mohamad revealed on Thursday that it will set aside RM6.5 billion for the Malaysia@Work platform.
The goal of the fresh funding is to help create new jobs for Malaysian citizens within the next half-decade, The Star reported. Mahathir noted that the program will be overseen by the Finance Ministry and should have long-term benefits for the workforce.
Mahathir went on to explain that the billion-fund will "create learning opportunities" for Malaysians, not just jobs. He explained that if the platform and funding project is carried out well, the country will achieve more sustainable progress.
The Prime Minister also encouraged Malaysian learners and professionals to focus on upskilling, especially at a time when AI, innovations in technology, and increased digitalization in multiple sectors is more rampant than ever.
