The latest figures for online hiring of banking and finance talent in Malaysia were devoid of any positive growth momentum, according to data provided by the Monster Employment Index, released by Monster.com today. The Monster Employment Index (MEI) is a monthly gauge of online hiring activity across Singapore, Malaysia and the Philippines, tracked by Monster.com. It comprises data of overall hiring activity in each country, as well as specific data in the banking and finance sector.

Both Singapore and the Philippines managed to exhibit positive year-on-year growth in online hiring of BFSI executives. Singapore reported 19% annual growth for the month of May, up by 1% from the 18% year-on-year figure for April. Meanwhile, the Philippines suffered a slight decline in May, down 3% from the 22% year-on-year growth reported during the previous month.

Malaysia’s subpar online hiring performance continued in May, with an annual decline of 30%. This figure was 11% down from the annual decline reported in April.

Finance & Accounts Roles:
Malaysia continued its lacklustre performance in growth figures for Finance and Accounts roles, clocking in an annual decline of 16% in May. This is a steep drop compared to the negative figure of 9% for April.

Singapore’s performance improved by 6% for the month of May, recording a year-on-year growth of 4%. The Philippines continued to outshine its neighbours by reporting a whopping 27% annual growth in May.

“Digitisation is being embraced by and implemented across banks in Southeast Asia, which in turn is causing the financial ecosystem to be in a constant state of flux. With the fintech industry’s constant innovation that leads to evolving regulatory systems and mercurial consumer needs, the demand for talented bankers will undergo fluctuations in a short-term time frame,” said Abhijeet Mukherjee, CEO of Monster.com – APAC and Middle East.

“Rather than be alarmed, bankers and financial executives should view the fluctuations as a positive symbol of opportunities to come in time. They should focus on upskilling to fit the emerging needs of the modern banking industry and to retain relevance. Conversely, employers should help upgrade their employees’ capabilities to keep up with the technological progressions.

COUNTRY-WISE TRENDS

Singapore Highlights

● Monster Employment Index Singapore charted annual growth of 4% in May 2018.
● Among industry sectors, BFSI exhibits the steepest annual growth, whereas Shipping/Marine plunges the most.
● Among job roles, Engineering/Production records the most notable online demand on annual basis.

Malaysia Highlights

● Monster Employment Index Malaysia registers receded growth of 11% on annual basis.
● Oil and Gas continues to witness the most notable annual growth among industry sectors, and Retail records the steepest decline.
● Hospitality & Travel professionals register the steepest growth in online demand among job roles on-the-year.

Philippines Highlights

● Monster Employment Index Philippines records positive growth of 7% on-the-year.
● Retail leads online recruitment activity among sectors on annual basis; whereas, BPO/ITES witnesses the steepest decline.
● Purchase/ Logistics/ Supply Chain register the most-notable annual growth in online demand among job-roles.

Launched in May 2014 with data collected since January 2011, the Monster Employment Index is a broad and comprehensive monthly analysis of online job posting activity in Singapore, Malaysia and the Philippines conducted by Monster.com. Based on a real-time review of millions of employer job opportunities culled from a large, representative selection of online career outlets, including Monster Southeast Asia, the Monster Employment Index presents a snapshot of employer online recruitment activity nationwide. Monster has taken due care in compiling and processing the data available from various sources for Monster Employment Index, but does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or action / decision taken or for the results obtained from the use of such information.