Employees in Malaysia can expect a salary increase of at least 3 to 6 per cent this year, according to the 2013 Hays Asia Salary Guide.
The 2013 Hays Asia Salary Guide, out now, reveals salary and recruiting trends for 1,200 roles across Malaysia, Hong Kong, China, Singapore, and Japan and was based on a survey of 1,200 employers, as well as placements made by Hays.
According to the Salary Guide, in Malaysia 43 per cent of employers increased salaries by 3 to 6 per cent last year. 29 per cent of employers also increased salaries above 6 per cent, while 14 per cent gave raises above 10 per cent. Meanwhile, 14 per cent of employers increased salaries by less than 3 per cent.
Looking ahead, 55 per cent of employers intend to increases salaries by 3 to 6 per cent when they next review, 27 per cent by 6 to 10 per cent and 7 per cent by more than 10 per cent. 11 per cent of employers intend to increase salaries by less than 3 per cent.
“Malaysia has really shown that it’s weathering the storm compared to other regions of the world that have been affected by a challenging economic climate,” says Chris Mead, Regional Director of Hays in Malaysia and Singapore.
Meanwhile, almost three quarters of employers across Asia, or 72 per cent, believe the economy is likely to remain stable or strengthen. 65 per cent of employers in Asia also say their business activity increased in the past 12 months and 66 per cent envisage it will increase in the next year. 26 per cent indicated business activity would remain the same in the next 12 months while 8 per cent said they expected a decrease.
“This is expected to put greater pressure, on not only sourcing the right skills to manage increased business but also potentially the package on offer to prospective employees,” says Chris. “Our Salary Guide revealed 93 per cent of employers believe skills shortages will hamper their business operations.”
“More than half of employers (52 per cent) also tell us they have used a flexible approach to staffing over the past year, either temporary or contract employees or the employment of part-time staff – in fact almost a quarter (24 per cent) of respondents say they use temporary or contract staff on an ongoing basis.”
According to the 2013 Hays Asia Salary Guide, trends at a glance for Malaysia by sector are as follows:
- Accountancy & Finance:
Malaysia’s finance market is buoyant as employers increase headcount and improve the overall skill sets of their finance departments. Add the desire from both finance departments and shared service centres to increase their business value, and vacancy activity is high as fresh talent is sought.
- Information technology
Steady demand for IT talent across most skill categories and industry sectors was the key trend for Malaysia’s IT jobs market in 2012.
- Human Resources
Malaysia’s HR market was fairly buoyant throughout 2012 with increased headcount and new hires, especially at the middle management level and around shared service projects. There was little movement at the senior level, but salaries remained competitive.
- Sales & Marketing
Recruitment activity in 2012 was buoyant with a high demand for good talent evident across all industries. Salaries are increasing by 10 per cent with most companies adopting a commission-based package to help drive sales and give employees extra incentives.
- Oil & Gas
Malaysia’s oil and gas jobs market grew steadily in 2012 and this growth is expected to continue throughout the remainder of 2013 due to several significant developments.
Access the 2013 Hays Asia Salary Guide at www.hays.com.my/salary, by contacting your local Hays office or by downloading The Hays Asia Salary Guide 2013 iPhone app from iTunes.
Hays, the world’s leading recruiting experts in qualified, professional and skilled people.