According to Jobstreet by SEEK’s Decoding Global Talent Report 2024, Malaysia ranks 21st as a global destination for work, while Kuala Lumpur is the 26th top city to work in. Among Asian cities, Kuala Lumpur ranks 5th after Singapore, Tokyo, Bangkok and Beijing. The report also found that 60% of global talent perceive Malaysia as an appealing destination due to the quality of job opportunities, 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. 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.
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. “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.
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.
