Whilst the labour market shortage has taken a toll on the general working community, the decision to lift restrictions has provided employment opportunities for both local workers and foreign job seekers.
What are the reasons for the labour shortage?
In simple terms, a labour shortage occurs when a company can't fill its job vacancies because there aren't enough workers willing to do that job. Malaysia has suffered from this, as overseas restrictions have resulted in companies putting a major freeze on hiring foreign workers. This shortage of foreign workers has meant that the vacated jobs must be filled by the local population. Companies have had a difficult time adjusting to this, as they struggle to attract the right workers for the right roles - primarily due to a mismatch of skills or a lack of willingness to do certain jobs.
Where are the labour shortages?
Lower paying jobs such as those working in plantations and factories (which traditionally rely on overseas migrants from Bangladesh, Vietnam, and Indonesia), have struggled to be filled by the local Malaysian population as they deem many of the jobs to be either too dangerous or physically intensive.
The biggest example is the palm oil plantation sector, where 80% of plantation workers hired are from neighbouring countries such as Indonesia. When international restrictions were enforced, companies could no longer hire overseas workers and plantation production levels were cut down dramatically. As locals were unwilling to take over these physically demanding jobs, there was a huge shortage of work on the production side. With less manpower to physically harvest and fertilise produce, the palm oil industry suffered heavily, losing billions in revenue.
However, the shortages aren't just on the manufacturing and production side. Being a country that heavily relies on the international marketplace, Malaysia's exporting business, tourism, and education sectors all expectedly took a hit, as many migrant workers left to go back to their home countries.
With these workers no longer in Malaysia, high-skilled jobs which demand international experience or niche jobs which require multilingual skills, couldn't be taken over by the local population.
Where are the opportunities for expats?
As borders reopen, opportunities for foreign workers will start cropping up again. Those who have the right skills and know which jobs are in demand will be highly sort after, as many companies will be on the hunt for strong overseas talent.
Here are some industries which will be providing solid opportunities for foreign workers.
High-Level Management
Highly skilled professionals who have a strong track record in management will be in high demand. Those with experience leading a team and who have international experience will be a huge asset for Malaysian companies looking to resume their international operations as borders reopen.
Financial Services
With restrictions lifted, subsidiaries of large multinational companies will be on the lookout for top overseas talent once again. Professionals with expertise in global financial markets will be able to slot into high skilled industries such as banking and consulting.
SME's
Small and medium-sized businesses make up more than 35% of the Malaysian economy and will only keep increasing as international trade starts to ramp up. Industry professionals involved in import/export will be able to take on executive roles in supply chain management or high-level operating positions.
Technology
As the Malaysian economy gradually moves towards a more efficient economy it will place a greater demand on jobs involved in the technology space. As businesses look to streamline their processes to become faster and more efficient, they will be actively seeking tech-savvy professionals to help their companies gain a competitive edge.
Digital Marketing
With overseas travel resuming, Malaysian businesses will start to reengage with their international clientele. Companies will be looking for people with proven success in digital marketing and content creation. Niche skills such as strategic branding and online marketing will be key traits that will provide opportunities for expats seeking a new challenge.
Hospitality
The most obvious benefit of borders reopening is the tourism sector. With an influx of overseas travellers streaming into the country, much of the services sector will liven up again. Jobs in hospitality will mean that waitstaff, kitchenhand and housekeeping roles will be in demand as hotels adjust to the increase in overseas arrivals.
Education
The education sector is another area that has been heavily impacted by the restrictions over the last 2 years. With international travel back on the cards, overseas students will flock to Malaysia especially in competitive fields such as medicine and dentistry.
With a greater capacity for international students, there will also be an increased demand for roles in the education space. Online tutors, associate professors, and university lecturers are all roles that will provide good opportunities for expats.
In conclusion, as Malaysia takes the necessary steps to get back to a new ‘normal', there will be a host of fresh vacancies available for the taking.
Apart from helping Malaysia remedy the labour shortages that have been created, foreign workers have a great opportunity to showcase their skills and become genuine assets to local companies as the country looks to open its borders once again.
