Malaysia’s HR Leaders Circle Identifies Key Insights for Future Talent Landscape

A recent survey conducted by Malaysia’s HR Leaders Circle sheds light on the future talent landscape in the country. The CHRO Talent Outlook Survey 2024 revealed that only 42% of chief human resources officers surveyed are optimistic about the talent landscape in 2024.

One of the key findings highlighted in the survey is the critical need for continuous learning and development initiatives. Despite the challenges faced by CHROs today, a staggering 72% of respondents expressed their commitment to investing in these programs for their employees. This emphasizes the importance of equipping the workforce with the necessary skills to meet the evolving demands of 2024.

Furthermore, the survey highlighted the significant role of technology in talent management. An overwhelming 90% of CHROs believe that technology will be crucial in reshaping talent management strategies within their organizations. This underscores the need for agile talent management strategies that embrace technological advancements.

The survey also revealed that recruiting top-tier talents will pose a challenge for 84% of CHROs in the upcoming year. This indicates a growing concern about the availability of skilled individuals in the talent pool.

Commenting on the survey findings, Farid Basir, Chief People Officer at MBSB Bank and Co-founder of the HR Leaders Circle, emphasized the need for action from the HR community and policymakers. The focus should be on addressing talent readiness gaps through upskilling initiatives and leveraging technology for effective talent management.

Laurence Yap, also a Co-founder of the HR Leaders Circle, echoed this sentiment, emphasizing the pivotal role of technology in navigating the evolving demands of the workforce.

The CHRO Talent Outlook Survey 2024 was presented to the Minister of Human Resources during a session organized by TalentCorp, providing valuable insights that can inform future policies and strategies in Malaysia’s talent landscape.

FAQs:

1. What percentage of chief human resources officers (CHROs) in Malaysia are optimistic about the talent landscape in 2024?
– Only 42% of CHROs surveyed are optimistic about the talent landscape in 2024.

2. What did the survey highlight about the need for continuous learning and development initiatives?
– The survey revealed that despite the challenges faced, 72% of CHROs expressed their commitment to investing in continuous learning and development initiatives for their employees.

3. What role does technology play in talent management, according to the survey?
– An overwhelming 90% of CHROs believe that technology will be crucial in reshaping talent management strategies within their organizations.

4. Which challenge did the survey highlight regarding recruitment?
– The survey revealed that recruiting top-tier talents will be a challenge for 84% of CHROs in the upcoming year, indicating a concern about the availability of skilled individuals in the talent pool.

5. What action does Farid Basir, the Chief People Officer at MBSB Bank and Co-founder of the HR Leaders Circle, emphasize?
– Farid Basir emphasizes the need for action from the HR community and policymakers to address talent readiness gaps through upskilling initiatives and leveraging technology for effective talent management.

Definitions:
– CHRO: Chief Human Resources Officer, a senior executive responsible for managing an organization’s human resources department and aligning HR strategies with business goals.
– Talent landscape: The overall environment and conditions relating to the availability, development, and management of talent in a particular country or industry.
– Upskilling: The process of teaching employees new skills or improving existing skills to enhance their capabilities and productivity.

Related Links:
TalentCorp – Official website of TalentCorp, an agency in Malaysia that focuses on talent development and attraction.
MBSB Bank – Official website of MBSB Bank, where Farid Basir, Chief People Officer mentioned in the article, works.