Malaysia’s pledge to embrace automation, e-payments and Industrial Revolution 4.0 tops employment needs in 2020

KUALA LUMPUR, MALAYSIA - Media OutReach - 18 November 2019 - Steering Malaysia in the direction of progress in the decade ahead is the constant drive towards a cashless society and all the industry sectors and employment skills required to support this.

Details from the Michael Page Malaysia Salary Benchmark 2020 highlights that fintech is growing at an accelerated rate in Malaysia therefore demand for tech-savvy professionals with experience in e-money and blockchain technologies is strong.

When it comes to automation and digital transformation, Malaysia remains ahead of the majority. Nic Chambers, Regional Director of Michael Page Malaysia comments, "In recent research from the World Economic Forum, Malaysia ranks third in the world for companies embracing disruptive ideas and fourth overall for its entrepreneurial culture. The local business community enjoys the benefits of government initiatives such as the Industrial Revolution 4.0 which promotes automation and attracts new investment into the country."

Other findings from the Michael Page Malaysia Salary Benchmark 2020 reveal that the exponential growth of fintech, cashless payments and availability of online data, digital ethics and privacy is a larger concern for consumers, organisations and government bodies. Therefore job opportunities in digital banking and cybersecurity will rise as more experts are required.

"Bringing financial services and technology together requires a hybrid of specialised skills. Continuous innovation is needed with interface channels to reach out to different segments of consumers. For the overall customer experience, new technologies have also been harnessed to optimise operations, decision making, risk management, credit scoring, anti-money laundering and predictive analytics," observes Nic Chambers.

As more companies in Malaysia move into predictive marketing, professionals skilled in augmented analytics, AI-driven development and machine learning will be in strong demand as organisations utilise these new platforms to stay ahead in the fast-changing consumer landscape. These candidates skilled in technology can command a 10 -- 22% salary increase when switching jobs within similar industries.

Download the full Michael Page Malaysia Salary Benchmark 2020 report here.

Editor's notes: The Michael Page Malaysia Salary Benchmark 2020 is derived from 5,000 data points in our proprietary data and network in Malaysia, which includes job advertisements and placements from July 2018 to June 2019.