The ever-growing nature of technology, innovation and automation is dominating the job market in Kuala Lumpur in present time in such a way that there has been a short supply of tech-savvy candidates across strategic business units as compared to their demand. Some noteworthy trends have been seen in jobs in Kuala Lumpur this year. More and more employment opportunities are opening up, and under such a situation, developing the latest skills and staying up-to-date in the employment market is very essential in the city.
Some Prominent Trends in Jobs in Kuala Lumpur for 2019
Growth in finance and accountancy positions
Malaysia is an important destination in South East Asia. Kuala Lumpur is its capital. Shared Service Centers (SSCs) have led to more and more MNCs to have their centers in Malaysia, including Kuala Lumpur. Most of these centers deal with the entire finance functions of the MNCs, both locally and across the Asia-Pacific area. No wonder, there is a huge demand for jobs in Kuala Lumpur for finance professionals having experience in accounts payable and receivable, and general ledger. This trend will continue in the coming years. Even for local start-ups, there is a good demand for accountancy and finance teams to handle financial planning, making finance analysis, budgeting and forecasting.
Growth in the demand for tax-related roles
With the recent elections and government change in the country, major tax reforms are seen. These include changes in the goods and services tax (GST) and also sales and services tax (SST). With the change, there was a slight decline in the hiring of tax professionals initially as the change resulted in a 3-month tax holiday. But, things are back to normal with the implementation of the new SST. So, there has again been a demand for tax-related jobs in Kuala Lumpur and other places in Malaysia.
Positive outlook for legal candidates
There has been a good growth of finance, technology and e-commerce in the country, leading to a great demand for lawyers with experience in these fields. Companies are shaping their legal teams to support the business processes in these fields. More and more legal jobs in Kuala Lumpur are available in present time, where lawyers who assist procurement functions and manage contract and preferred supplier lists (PSL) are preferred, rather than the traditional lawyers that deal with corporate-related and legal advisory matters. So, students pursuing law should opt to take up specialization in these new subjects to get good jobs in Kuala Lumpur.
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More and more jobs in SME and e-commerce sectors
Kuala Lumpur’s SMEs and E-commerce platforms are rising due to the Malaysia Government policies supporting the National Industry 4.0 Policy Framework. This has also led to the creation of the Digital Free Trade Zone (DFTZ). The country is expected to have around 15.3 million online shoppers, and the capital city is taking the lead in this, as more and more people of Kuala Lumpur is moving towards online shopping through their smart devices. So, there has been a good demand for professionals in digital or e-commerce jobs in Kuala Lumpur. Companies are hiring new talents with digital knowledge and working experience to capitalize on this growing opportunity.
Surge in IT jobs in Kuala Lumpur
There has been a transforming nature of the IT industry in Kuala Lumpur with advances in technologies. Like in other digital countries of the world, Malaysia has also seen the increased use of artificial intelligence (AI) and machine learning (ML) for improvement and efficiency in business processes. There is more and more requirement for IT professionals with experience in the latest technological developments. Jobs such as AI Developer, Machine Learning specialist or data scientist are in great demand in Kuala Lumpur. Plus, there has been regular need for candidates with development skills on mobile development, .net and java knowledge, ERP knowledge etc. 2019 sees a good growth in IT jobs in Kuala Lumpur and this will continue in the coming years.