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Home > Insights TrackerMalaysia's Hiring Landscape in January 2024: foundit Insights Tracker 

Malaysia’s Hiring Landscape in January 2024: foundit Insights Tracker 

 The foundit Insights Tracker (fit) for Malaysia has reported a notable 19% increase in hiring demand over the year ending in January 2024.  

With a 4% month-on-month growth, the tracker showcases a steady increase in the hiring landscape.  

The 6% growth over the last quarter further emphasises the continuous demand across various sectors, with a special focus on AI, emerging technologies, and shared services, propelled by a data-driven strategy. 

Hiring Trends – Industry (YoY numbers) 

The index observed annual growth in 7 out of 10 industries tracked 

In demand:  

Holding steady:  

  • The Production/Manufacturing, Automotive, and Ancillary industry had a modest 1% annual growth in January 2024. 

Facing challenges:  

  • The Oil and Gas and BFSI sectors both experienced a 21% decline, marking the most significant drop in hiring activity. (However, BFSI showed an 8% improvement month-over-month)  
  • The IT, Telecom/ISP, BPO/ITES sector too saw a 4% annual decrease but noted growth in the last month. 

Hiring Trends — Functional Area (YoY numbers) 

Online recruitment activity showed remarkable growth in 9 out of 10 functions over the year.  

In demand:  

  • Engineering/Production and Real Estate roles surged by 71%, with Marketing & Communications and Sales & Business Development roles increasing by 61% and 59%, respectively. 
  • Other notable growths include HR & Admin and Hospitality & Travel roles, increasing by 35% and 33%, respectively. 

Steady growth:  

  • Customer Service roles remained steady with no change, while Purchase/Logistics/Supply Chain saw a slight 1% increase. 

Facing challenges:  

  • The Finance & Accounts sector experienced a 5% decrease, the only sector to witness a downturn.   

About the foundit Insights Tracker  

The foundit Insights Tracker (fit) Malaysia, earlier known as the Monster Employment Index, is the leading guide to Malaysia’s e-recruitment landscape. By examining millions of job listings, fit provides insights into the hiring trends in Malaysia.    

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