- In an annual report published by Jobstreet, 30% of employers will be hiring more this year.
- Both employers and employees predict a healthier hiring trend in 2018.
If you were job seeking in 2017, then you remember how competitive the scene was. This year, the number-crunchers down in Jobstreet think there’ll be more job opportunities.
In an annual survey conducted by Jobstreet, the website found that 30% of employers will be hiring more this year. Meanwhile, 15% of employers will be continuing their hiring momentum since last year, and 5% of employers that weren’t hiring are going to be starting.
This is all thanks to a couple of factors: the diversification of jobs and skills required in the market right now, the rise of startups, local businesses spreading their wings, and the entry of foreign companies that lead to more jobs and more diverse jobs.
Despite the economic downturn for the past couple of years, it seems like local companies, both startups and otherwise, are now helping to buoy up the job scene this year. Many fresh graduates may find that a more millennial-run company suits their tastes, and more millennial-run companies are hiring as well.
Meanwhile, those who prefer a job in something more “established” can try their luck with foreign companies.
We’re currently in one of the best times to be looking for a job. The same Jobstreet report indicates January to March as the best time to be looking for jobs, with a gradual slowdown that continues into December.
This is all in tandem with the annual 9% increase of job opportunities porting over online, so not only will more companies be hiring, there will be more of them on job-seeking sites too.
The survey also introduced some interesting nuggets of wisdom.
Tips for employers
With both job seekers and employers feeling the employment high this year, Jobstreet also includes tips for a competitive hiring strategy; employees appreciate good compensation and benefits.
The top 5 benefits include:
- Health/medical insurance
- Transport allowance
- Medical coverage that extends to family/dependents
- Pension/ retirement fund
- Flexible working hours.
“In times of increased hiring activity, employers should look into emerging needs of employees as pull factors to be competitive in talent attraction and retention. Essentially, it is important for employers to find a balance between employees’ desired benefits and offered benefits to be able to retain and attract talent,” said Chook Yuh Yng, Country Manager of JobStreet Malaysia.
The future of employment seems to be moving towards work/life balance, particularly with the rise of co-working spaces and the increasing number of companies willing to offer flexible working hours to entice good talent.
The world seems to be blowing the old employment trends wide open, and while hiring is one thing, actually enticing employees to stay is a whole new thing that today’s employers really have to explore.
After all, it seems like many traditional companies are going to be competing with startups and international companies to hire this year.
Feature Image Credit: Jobstreet