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Malaysia
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Malaysia
Malaysia, with a GDP of $399.6 billion, ranks 37th globally. Its top industries include petroleum and natural gas, electronics, and rubber processing. With an unemployment rate of 3.9%, Malaysia boasts a stable labor market. The medium-sized population supports diverse recruitment, although gender participation disparities exist. The recruitment industry remains moderately developed.
Malaysia'S
AGENCY LANDSCAPE
700
Agencies operating in Malaysia
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
16-22%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Malaysia'S
FEATURED AGENCIES
Canopus-GBS
99Owls Consultancy
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Malaysia'S
GROSS DOMESTIC PRODUCT (GDP) RATING
37
WORLD RANKED
Malaysia ranks 37th in the world by current economic output
$400B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
12
APAC RANKED
Malaysia is the 12th biggest GDP in APAC out of 41 countries in the region
GDP GROWTH (%)
The above chart compares how Malaysia's GDP has grown, compared to the rest of the world and the APAC region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Malaysia'S
CURRENCY AND CODE
RM
Country currency
MYS
Country ISO code
Malaysia'S
INFLATION RATE
2.8%
CURRENT RATE
▲0.3% INCREASE
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Malaysia'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Malaysia'S
LABOUR STATISTICS
33M
POPULATION
With a population of 32,651,600, Malaysia is a medium sized country by global standards. Malaysia's youth population is close to the world average, suggesting a consistent influx of new workers, but may not see any significant growth. The working population in Malaysia is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Malaysia's elderly population is close to the world average, suggesting a manageable dependency ratio, where the working-age population can effectively support the elderly.
Malaysia'S
RELIGION AND ETHNICITY
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Ethnicity
In ethnically diverse countries, there may be a greater variety of candidates with different cultural backgrounds and experiences. Employers may need to focus more on inclusive hiring practices to ensure they attract talent from across different ethnic groups.
Malaysia'S
UNEMPLOYMENT RATE
3.9%
CURRENT PERCENTAGE
▼0.08% REDUCTION
Malaysia's unemployment rate is healthy, indicating a well functioning labor market with good job opportunities for most people. Between 2022 and 2023, there was a small decrease in unemployment, suggesting continued economic stability with a slight improvement in job availability
Malaysia'S
TOP PERFORMING INDUSTRIES
Top industries
Petroleum and natural gas
Electronics and semiconductors
Rubber and oil palm processing and manufacturing
Malaysia'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
78
/
52
Male | Female
In Malaysia there is a large gap in participation rates between males and females, indicating significant structural or cultural barriers preventing more equal gender parity.
Malaysia'S
WORKING LIFE
18DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
40HRS
Average working full time week
Malaysian employees earning under MYR 4,000 must receive overtime pay; those over may negotiate terms. Maximum 104 overtime hours/month are permitted, with pay rates at 150% for extra hours, 200% on weekends, and 300% on public holidays. Standard workweek: 40 hours, Monday to Friday.
Malaysia'S
TOP BENEFITS
98DAYS
Maternity leave
Malaysia: 98-day paid maternity leave after 90 days of work, must start <=30 days pre-birth; no mandated paternity/parental leave. Employers pay full salary.
22DAYS
Sick leave
Employees get paid sick leave based on job tenure: 14 days (<2 yrs), 18 days (2-5 yrs), 22 days (>5 yrs). They also have 2 months of hospital leave annually. The employer pays 100% salary. A medical certificate is required.
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