As Malaysia strives to increase its global presence across numerous industries, it is evident the country is becoming a hub for world-class talent and businesses. According to Jobstreet by SEEK’s Decoding Global Talent 2024 report, Malaysia and Kuala Lumpur stand out as desirable destinations for work, appealing to talent primarily from Southeast Asia. The report, which was jointly produced by Boston Consulting Group, The Network and The Stepstone Group, surveyed over 150,000 respondents in over 180 countries with varying industrial backgrounds and highlights critical insights into global mobility trends and workforce preferences by global and local talent.
Overall, Malaysia takes the 21st spot as a global work destination, with Kuala Lumpur being the 26th among the top cities employees are willing to relocate to. Among Asian cities, Kuala Lumpur ranks fifth - behind Singapore, Tokyo, Bangkok and Beijing - primarily due to the quality of job opportunities (60%), financial benefits (53%), and perceived improvements in quality of life (49%).
Cultural factors such as inclusiveness and family friendliness also play a significant role in attracting global talent.
Top countries expressing interest in moving to Malaysia
Most of the interest in relocating to Malaysia comes from the Asia-Pacific region. For instance, Indonesia and Singapore each account for 11% of the respondents expressing a desire to move to Malaysia, followed by the Philippines and Hong Kong.
The report also sheds light on work mobility trends among Malaysians. While 66% of talent are willing to work for a foreign employer with no physical presence in the country—up from 53% in 2020—over one-third (35%) of respondents still prefer to stay in Malaysia. Primary reasons for staying include the inability to bring family members, high relocation costs and concerns about personal safety and security.
"Malaysia's enduring appeal as a prime work destination is a testament to the quality of job opportunities and the welcoming environment we offer. Insights from the report underscore the need for Malaysian employers to embrace strategic workforce planning and enhance their value propositions to attract and retain top talent. By doing this, we can ensure Malaysia remains competitive in the global talent market, fostering a dynamic and inclusive workforce for the future,” said Vic Sithasanan, Managing Director of Jobstreet by SEEK in Malaysia.
Recommendations for Malaysian employers
To harness the benefits of a global talent pool, Malaysian employers should consider the following strategies:
- Strategic Workforce Planning: Anticipate future talent needs and prepare for potential shortages, particularly in high-demand fields like digital technology.
- Enhanced Employee Value Proposition: Attract talent by focusing on what matters to mobile workers – job opportunities, attractive salary packages, and inclusive work culture.
The Decoding Global Talent 2024 report highlights Malaysia's consistent appeal as a top 30 global work destination. Employers and policymakers are encouraged to adapt their strategies to leverage this position ensuring sustained economic growth and addressing future labour market challenges.
Get more information on the report and find out how Jobstreet by SEEK can assist in your recruitment needs by visiting https://my.employer.seek.com/market-insights/decoding-global-talent-2024
