manual skills and physical abilities and, whereas, a decrease in demand for skills related to the management of financial and other resources as well as basic technology, installation and maintenance skills. Skills continuing to grow in prominence by 2022 include analytical thinking and innovation as well as active learning and learning strategies. Proficiency in new technologies is only one part of the 2022 skills equation, however, as ‘human’ skills like creativity, originality and initiative, critical thinking, persuasion, and negotiationwill likewise retain or increase their value, as will attention to detail, resilience, flexibility, and complex problem-solving. Emotional intelligence, leadership and social influence as well as service orientation also shows an out-sized increase in demand relative to their current prominence. Companies will need to pursue a diversity of organisational strategies to stay competitive in the face of rapidly changing workforce skills requirements. To do this, the skills of executive leadership and the human resource function will also need to evolve to successfully lead the transformation. The likelihood of hiring new permanent staff with relevant skills is nearly twice the likelihood of strategic redundancy of staff lagging in new skills’ adoption. However, nearly one-quarter of companies are undecided or unlikely to pursue the retraining of existing employees. Two-thirds expect workers to adapt and pick up skills in the course of their changing jobs. Between one- half and two-thirds are likely to turn to external contractors, temporary staff and freelancers to address their skills gaps. There will be other requirement for other sectors, and some that are yet to exist. To shape future talent and allow Malaysia to maintain its competitive edge, it is about preparing the youngsters of today to be the workforce of the future with jobs that are yet to exist. It is pivotal to attract young talents into STEM fields in view of the declining number of STEM graduates today and in the near future. On the supply side, it is important to ensure that educational requirements and curriculums are aligned to accommodate some of these new technologies which are already present in Malaysia. On the demand end, science, technology and innovation (STI) based industrial growth and will inspire Malaysians to embrace STI and become a science literate society of prosumers and not just consumers.
THE SURVEY
More thanhalf (51%) of the respondents are recruiting and retaining talent as the most important strategy in achieving their growth objectives. However, a huge technology talent gap remains despite companies’ best efforts to close the divide via training programs, tech apprenticeships, and more. The challenge to recruit workers with relevant technical skills, while addressing diversity, is a significant one. 51% recruiting and retaining talent
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Malaysian Technology Strategic Outlook 2019/2020 Intergration of High Technology
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