This trend is sure to continue to at least into the first half of 2021 as businesses adapt to the repercussions of Covid-19 including the imposition of the Movement Control Order which is already playing havoc with the economy.
According to the Robert Walters Salary Survey 2021, about 50% of their clients plan to implement a headcount/hiring freeze in 2021 as part of their response to Covid-19.
However, it’s not all bad news as 53% of employers surveyed are also planning to train/upskill their staff and 42% claim to want to increase their investment in technology, apps and tools (42%) this year – indicating a continued emphasis on employee and workplace process development.
Therefore, expect the job market to generally remain almost stagnant for the months to come for the following sectors: accounting and finance, banking and financial services, engineering, human resources, legal and supply.
But there are a few bright spots in high-demand sectors including essential services, technology, pharmaceutical/healthcare, insurance, risk and compliance as well as renewable energy. Sales and marketing positions are forecasted to see some recovery, especially in jobs pertaining to e-commerce, digital marketing and overall sales as companies look to consolidate and strengthen their income streams in light of the new normal brought on by Covid-19.
As for job market for roles in technology and transformation, it is set to continue to grow further as companies pay more attention to laying the foundations for their digital operations (e-commerce, remote working, big data, AI solutions) and protecting that framework (cybersecurity, training) in order to ensure business continuity in anticipation of current and anticipated socio-economic challenges.
As Robert Walters’ country head (Malaysia and the Philippines) Kimberlyn Lu reminds us: “The 2021 market will continue to be challenging for clients as well as candidates, whether they are existing job holders or job-seekers alike”.
No comments:
Post a Comment