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:

Strategy and management are essential to leading a company through crisis; but at the heart of any organisation is its people, and organisations around the world have been celebrating the pivotal role that employees have played in tiding their company through unprecedented challenges.

While jobs in some sectors in Malaysia continue to be impacted by fallout from COVID-19, business critical roles like accounting and finance continue to display stability. The steady stream of opportunities in the sector can be attributed to Malaysia’s popularity as a location for Shared Service Centres (SSC) and an influx of business and developments in the financial services space.

The global COVID-19 crisis has already transformed the world of work, with much of its impact still unfolding. As the situation continues to develop and the road to recovery is expected to be a long one, business leaders and professionals must adapt and be agile to the challenges that are presented to them on a daily basis, with valuable lessons to be learned along the way.

Keeping the workforce productive and engaged so an organisation emerges from the current crisis in the best possible position is a key priority for business leaders today. According to Hays CEO Alistair Cox, who recently shared his advice on the topic, there are eight key steps employers can take to guide staff through the current period of uncertainty and establish new, productive ways of working to deliver value to their customers.

As staff who can work from home continue to do so across Malaysia, managers may find it challenging to continue ensuring their team’s wellbeing is cared for and productivity maintained. Tom Osborne, Managing Director at Hays in Malaysia, believes that a few changes in management style are enough to keep a team connected and motivated through this time.

As countries around the world continue in their battle against COVID-19 at varying stages, in China, the worst appears to have been overcome. Today, most of China’s businesses are gradually resuming operations, providing the world with an invaluable frame of reference as they prepare to return to work.

Hays, the leading recruiting expert, has launched a free online training portal designed to help employers and teams in Malaysia grow the skills they need to function effectively and thrive in the current working environment.

More businesses in Malaysia are working remotely than ever before in an effort to combat the Covid-19 crisis. But while employees may now be well acquainted with working from home, this way of working can also present challenges that are difficult to spot at times – such as feelings of isolation and loneliness.

The current world of work in Malaysia is operating more remotely than it ever has before; and while this is crucial to maintaining the health and safety of employees, adjusting to this way of working may result in employers facing certain challenges which need to be managed, says recruiting experts, Hays.

Uncertainty in the current world of work is posing a challenge to established hiring practices, particularly when it comes to interviewing potential candidates for a new role. Virtual recruitment methods like video interviews are invaluable in overcoming the challenges of remote hiring, while having the additional benefits of saving companies time and creating more efficient processes.

Great Place to Work®, the global authority on workplace culture, ranked Hays fourth on the 2020 Best Workplaces in Asia list under the category of ‘Best Multinational Workplaces in Asia’. More than 2.2 million employees participated in the survey studies that covered eight 8 Asia-regions and countries where Great Place to Work is represented.