As a result of increasing regulations in Malaysia, 2017 will see risk professionals in high demand. This is just one of the top 10 talent trends for Malaysia in 2017, according to recruiting experts Hays in Malaysia.

Candidates who are able to reduce financial institutions’ exposure to risk will stand out as employers step up their efforts, to ensure they adhere to regulatory requirements. “Risk and compliance will be two hot areas, where fierce competition will take place for the right candidates,” says Tom Osborne, Regional Director of Hays in Malaysia.

Also, increasing threat of cyber security has created huge demand for security experts who can safeguard the IT systems of organisations against malicious cyber-attacks.

Below are top 10 talent trends for Malaysia in 2017:

1. Social media expertise: 2017 will see many businesses looking to solidify their social media platforms to become more sales-driven. This will create demand for multi-faceted social media professionals, who will not only curate, edit and write content to drive engagement and awareness on a daily basis, but would also manage paid advertising designed to create leads and drive sales.
2. Rise in treasury roles: A number of new treasury roles will be created in 2017. Moving into an era of data-centricity, companies are becoming more regimental in analysing their cash flow for budgeting purposes and forecasting in preparation for future project roll outs. They believe effective cash flow forecasting will allow potential financial risks to be identified and mitigated at an early stage.
3. Soft skills essential: Candidates looking for their dream job in 2017 might be surprised to learn the importance some employers place on their soft skills. Depending on the industry they choose to apply for work, employers will value soft skills over work experience as cultural fit rises up the list of criteria in 2017.

A candidate may have extensive experience and stellar qualifications, but they will offer little value if their soft skills are lacking. Employers will specifically look at what motivates the candidate and how they could potentially communicate with their team effectively and efficiently, if they were to be successful in the recruitment process.

4. Shortage of candidates in supply chain: Demand for planning candidates in the supply chain sector will remain strong in 2017. It’s a niche area in which companies would need to offer generous packages to attract qualified candidates. Large MNCs will continue to drive demand for supply chain professionals as they streamline business processes within their local operations.
5. New manufacturing hubs: The development of new manufacturing hubs in Negeri Sembilan, Johor and Penang will continue to fuel demand for manufacturing candidates in Malaysia. Employers are looking for candidates who are well versed in automation, process improvement, industrial engineering and research, as the manufacturing sector remains the backbone of the Malaysian economy.

See: Employers in Malaysia Grant Lower Salary Increase and Bonuses to Executives in 2016

6. Bilingual skills: 2017 will see many employers looking to recruit candidates, who have good command of Chinese and English for contact centres and customer service roles. Employers are struggling to find suitable candidates, who are fluent in both languages in the local market.
7. HR professionals need business acumen: HR professionals looking to switch roles in 2017 would need to be commercially-minded, due to the changing business landscape. Businesses will be on lookout for HR professionals, who are strategic thinkers and can help them map out long-term growth plans.
8. Diversification: 2017 will see a large number of banks shift focus from corporate banking to commercial and SME segments. The diversification process will see demand for candidates across a wide range of functions. Top of the list will be risk professionals who can assist banks in consolidating their operations. Banks will also be looking to attract relationship managers and credit professionals.
9. Tightened governance: Banks are strengthening their governance structures. This will create number of positions across anti-money laundering, sales and regulatory compliance, and market conduct functions. As regulators introduce new rules and regulations for Fintech firms, you will see greater demand for risk managers and compliance professionals to ensure adherence to new guidelines.
10. Cyber security investment: MNCs and small businesses are planning to invest heavily in their cyber security defenses, to ensure there will be no security breaches in 2017 and beyond. This would create demand for cyber security experts, who will be expected to safeguard IT operations of organisations from cyber-attacks.

“Experienced candidates will become the top beneficiaries of strengthened cyber security efforts. It’s been found that both foreign companies and domestic small businesses have set aside budgets to increase headcount and combat the threat of attacks to their IT infrastructure,” says Tom.

Also employers will be taking into consideration, the soft skills and personality of potential new recruits in the recruitment process. “Employers are keen to find out, how a candidate will potentially relate to and interact with other people in the business,” Tom added.

Also read: 45 Companies in Malaysia Recognised as Best Companies to Work For