- 97% of Malaysian employers struggle to find and maintain talents
- Employers must invest in staff training and development for more strategic talent management practices
- Salaries must remain competative
- Balancing the need to remain competitive on salary to attract new talent
Kuala Lumpur, March 14, 2017: Talent shortage will weigh down majority Malaysian business operations this year, according to the latest salary guide survey by recruitment experts Hays.
In its 2017 Asia Salary Guide, Hays reported that 97 per cent of Malaysian employers are striving to discover and maintain the talents they need for their businesses.
“The ability to attract and retain the best talent always provides a company with a competitive advantage, but in 2017 with skill shortages persisting and significant changes and challenges on the horizon, it is more important than ever,” says Asia Hays managing director (MD), Christine Wright.
Wright said employers are encouraged to invest in staff training and development to become more strategic in their talent management practices.
“Recruitment and retaining talents will be one of the biggest challenges employers have to face this year and it heightens the need for a review of recruitment policies and procedures in the midst of a war for top talent,” she added.
Touching on salaries, Wright advised Malaysian employers to have a clear balance in managing staff salaries while still retaining competitive salary offers to attract new recruits.
“Employers need to balance the need to remain competitive on salary to attract new talent while managing salary budget for existing staff carefully,” she said.
“While employees’ salary expectations are fairly modest in Malaysia, tensions could arise if salaries for new hires move up too fast,” said Wright.
It was also reported that 85 per cent of employers provide staff benefits in addition to salary and bonuses.
Health remains most commonly offered benefit (79% of employers) followed by life assurance (40%), a car allowance (34%), pension (31%), housing allowance (26%) and club or gym membership (16%), according to the report.
