Malaysia is one of the more economically advanced nations of South East Asia, and its HR community has been developing steadily in recent years. The country has a robust Industrial and Manufacturing sector, with Technology also being a key economic driver. Tourism has long been a major part of the country’s economy. The Financial Services sector is growing in scale and sophistication, although global economic conditions have had some impact on its rate of expansion.
As other traditional centres in the region become increasingly expensive, Kuala Lumpur, its surrounding area, and Penang are being seen as viable, lower-cost locations for the regional headquarters and Shared Services hubs of multinationals. However, we do continue to see a brain drain of talented Malaysian HR professionals into Singapore and other regional and global locations, where career opportunities are more plentiful and salary levels can be higher.