Kuala Lumpur, Malaysia - Global marketing, design and digital staffing leader, Aquent, has just released the Aquent Market Eye, a report containing insights into staff salaries, hiring trends and predictions relating to the use of both permanent and freelance/contract staff in Malaysia and Singapore.
Designed to supplement data contained within The Aquent Orange Book, the 2009 Aquent Market Eye suggests, encouragingly, the turmoil sparked by the near catastrophic collapse of world financial markets in late 2008 has now dissipated.
Consequently, businesses across the design, marketing and digital industries are growing in confidence and are set to take advantage of improved market conditions in 2010.
Aquent’s Regional Director for Asia, Steven Pang, said confidence within the Malaysian market was now on the rise following widespread hiring and salary freezes in the first half of 2009.
“Employers across Malaysia are largely in agreement that the market has stabilised,” he said.
“A degree of confidence is starting to emerge across the design, marketing and digital industries with regards to permanent hiring intentions, and this suggests 2010 will see the beginning of a recovery.”
In Kuala Lumpur, over 86 per cent of employers predict that business sentiment will not decline over the next six months; 66 per cent of employers are predicting an improvement in economic conditions.
This confidence is reflected by data showing 38 per cent of PR agencies in Kuala Lumpur and 33 per cent of digital agencies are expected to implement salary increases within the next six months.
Furthermore, the use of temporary/contract staff - an increasingly popular solution for employers across South East Asia – is also on the rise, despite budgets remaining tight. 44 per cent of Kuala Lumpur’s advertising agencies, 42 percent of digital agencies, 39 per cent of media owners and 38 per cent of PR agencies are continuing to build on their use of temporary staff.
“Overall the Aquent Market Eye suggests a business sector that is slowly emerging from the depressed conditions of earlier this year,” said Area Manager for Malaysia, Priya Bala.
“While a return to pre-downturn levels is a long way off, all indicators suggest companies are increasing in confidence and with that will come a thawing of hiring freezes and, later, a corresponding increase in salaries.”
Surveying for the Aquent Market Eye was carries out via face-to-face and telephone interviews by Aquent agents over a one-month period. A total of 206 businesses across Malaysia and Singapore were surveyed.
Aquent is the only global staffing company dedicated to marketing and design. With 73 offices in 18 countries, they have an unmatched network of professionals that enables them to deliver the right solution for any client need and provide exceptional career opportunities for their talent. Today Aquent has over 11,000 professionals working at over 3,000 companies. Over the course of its history, Aquent has made over half a million matches of professionals to our clients on an individual, team or through an onsite or offsite managed service basis. The company’s Asia-Pacific headquarters are in Sydney.