Anyone watching closely the economic situation in Malaysia would vouch for the fiscal policies of the country, which ensured a robust economy during the preceding two decades. The 4th largest economy within Southeast Asia is better in comparison to the neighboring countries. The top 10 trends likely in the Malaysian economy in the year 2020, which might decide the phase of the pink finance of the country, might be:
- The surge in Sales Talent
The digitization of the technology plays a pivotal role in the economy and with the continuation of automation, the role of sales professional would be highly regarded in pushing up the sales. The start-ups of the country in combination with the sale promotional strategies would take the Malaysian economy to a next level.
- Remote Working
The automation of technology would give rise to the flexible timings as well as remote working in contrast to the traditionally fixed working hours. Some organizations have already recognized the need for work from home or flexibility in the working hours. The professional would be able to contribute more in the short, staggering hours of work.
- Rising Online Sales
With the growth of start-ups and other marketing points adopting for online sales, which is the global phenomenon, the country needs more multi-tasking professionals. This could be a combination of both marketing and digital technology, networking and financial analysis of the data.
- Blockchain Technology
Digitization is a buzzword everywhere, and the financial sector is no exception. The talent for appropriate interpretation of the Big-data is one of the most sought-after areas. The younger generation is already exposed to the newer analytical methods of the data. Therefore, even at the middle and top executive levels, the thorough knowledge would be an order of the day.
- Customer Expectation
Every sales and marketing personnel would try to collate more customer expectations and match the deliverables with them. This requirement would push artificial intelligence for trusted and realistic evaluation. No doubt, the higher-level executives should also be used to the modern-day jargons of the digital interpretation and analysis of data.
- Corporate Services
The country was a hub for the IT shared service center until recently. However, with the migration of these services to other countries in 2017, there is abundant talent in the country. Therefore, there is a demand for these services for the companies to tap the talent within the country.
- Pivotal Supply-Chain Management
Globally, the organizations are looking for a comprehensive management to take care of planning, sourcing, production, inventory management, and logistics. The MNCs and other large-scale industries would look for more professionals in supply-chain management during the year 2020.
- Recruitment Process Outsourcing
The vibrant Business Process Outsourcing (BPO) industry has gradually made a way for Recruitment Process Outsourcing (RPO). You can expect the RPO to play a decisive role during the year 2020, as is a trend worldwide.
- Strong Financial Services
For an economy on the upsurge, certainly, we require matching financial and banking services. These services encompass Wealth Management, Wholesale Banking, and Commercial Banking. The industry would be looking forward to risk management service professional.
- IT Auditing
The implementation of strict regulatory methods calls for more professionals, especially in the financial auditing and IT auditing sectors. It is expected that the industry would throw more avenues for these professionals.