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With younger workers amongst the worst affected by the pandemic, Hays CEO Alistair Cox says it is the duty of business leaders to act and support this generation of workers.
DIGITAL & CHANGE MANAGEMENT SKILLS HIGHLY SOUGHT AFTER BY MALAYSIA’S BANKING & FINANCE SECTOR 08 Sep 2020
Malaysia’s moratorium on loan repayments as well as the ongoing pandemic have significantly impacted the workings of its banking and financial institutions. One area of impact has been hiring, with new headcounts being rigorously controlled at this time. While banks have not stopped hiring, they have been observed to have become faster and more deliberate in their selection processes. Additionally, the current atmosphere of regulatory changes has increased the need for talent-short governance and change management-related roles, while the ongoing boom in digital payments and processes has led demand for more ‘quantitative’ roles that can harness skills like software development and data analytics to support digitalisation and automation.
As Malaysia continues to battle against and recuperate from the fallout of COVID-19, it has never been more important for businesses to find exceptional talent. Many are now trusting specialist recruitment agencies to source the perfect fit amidst market uncertainties, cost-cutting measures and mounting job responsibilities. But despite investing in expert recruitment agencies, many businesses may be missing a crucial step that would help them get the most out of their investment, says Sarah Tanoue, Business Director for Hays Malaysia.
While organisations in Malaysia continue to brave against the hurdles presented by COVID-19, successful containment efforts have resulted in most businesses operating at full capacity. But while professionals are back at work, it is vital that organisations understand that their expectations and perceptions of organisations have been transformed by the COVID-19 crisis. In order to attract and retain the very best talent in the new era of work, businesses must adapt their approach to attracting, engaging and motivating professionals, says the CEO of recruiting experts, Hays.
The ongoing remote working revolution is not only changing the way organisations function, but also the way they hire. Many organisations in Malaysia are now interviewing remotely, which has led to faster and more efficient hiring processes. However, with remote working likely to become a permanent fixture in the new world of work, businesses are increasingly facing the challenge of communicating their employer brand to potential employees they are interviewing through virtual means.
While many sectors continue to be impacted by the events of this year, Malaysia’s legal sector has remained a key function through times of crisis. Particularly now, organisations need to be sure that all the steps they are taking to cut costs or manage their finances are legal and compliant to the local labour law – thus making the legal function more essential than ever.
While most organisations in Malaysia have resumed operations, returning to the workplace has presented many of them with novel challenges such as having to redesign the layout of their offices to allow for social distancing, or reviewing the use of common areas such as meeting rooms, receptions, kitchens and toilets. Going forward, offices may not be able to accommodate all employees at once while maintaining adequate social distancing, leading to a large number of professionals continuing to work remotely.
The COVID-19 crisis has ushered in a new era in the world of work that is impacting both jobseekers and hiring organisations. Speaking on behalf of Hays consultants who are on the ground interacting with businesses and candidates every day, Tom Osborne, Managing Director of Hays in Malaysia shares 8 trends that are currently impacting recruitment in Malaysia: