Last year, they expanded their staff strength by an average of 51.2%, the highest of five economies surveyed by international recruitment agency Hays.
Apart from Malaysia, the survey covered Singapore, Japan, Hong Kong and China. A total of 10,191 skilled professionals and 3,630 employers were interviewed for their insights for job seekers and hiring managers.
The recruitment frenzy is expected to continue this year. The Hays survey shows that 56.5% of employers in Malaysia anticipate a further expansion in their staff strength in 2023.
There will be an ample supply of job seekers to meet the expected increase in demand for staff.
The survey shows that 33% of those surveyed are actively looking to switch jobs, also the highest among the five markets surveyed.
Salary remains the biggest motivator for those who are looking to change jobs. A total of 77% of active job seekers said they would leave for a bigger pay packet.
However, there is a big gap between the increase job seekers expect and the extra that employers are prepared to give.
Majority of Malaysians looking for new jobs want a jump of more than 10% in their remuneration, but employers are prepared to give only 3% to 6% more than what they currently earn.
Apart from more money, job seekers also want work flexibility but this is not what employers are prepared to give now.
A total of 36.7% of those interviewed said they did not have such flexibility.
The Hays survey shows that Malaysian employers are also making an effort to ensure sustainability in their operations.
A total of 54% of them have already implemented sustainability reporting, second only to China which has 60% of employers making the same effort.
Hong Kong and Japan are tied at 47% while Singapore comes in last at 46%.
Regional director for Hays Malaysia Natasha Ishak said the significance of an organisation’s social and environmental impact would gain greater prominence as the proportion of younger millennial and Gen Z professionals in the workforce rises.
Digital skills now trump hard over technical skills for employees, with 58% of them reporting that they favoured digital training for platforms and tools over technical skills training.
However, most do not have the time to spend on training to upskill themselves.
Employers continue to favour communication and problem-solving skills as well as an ability to work as a team in their employees.
And a piece of good new for those fresh out of college – Malaysian employers are also more inclined to prefer fresh hires with management skills compared with their counterparts in other countries.