🛜Kinetik Hiring | Market Bytes | Recharging your Employer Brand for 2024 🛜

In the aftermath of a challenging 2023, emerging economies in Southeast Asia (SEA) are experiencing a positive shift in job market dynamics, especially in emerging markets such as 🇲🇾 Malaysia, with parallels in 🇹🇭 Thailand, 🇮🇩 Indonesia, and 🇰🇭 Cambodia:

Malaysia’s Resilience and Transformation:

Emerging as a 🌟 Center of Excellence, 🇲🇾 Malaysia’s focus on niche skills, local talent, and accelerated foreign investment propels it forward, with a robust consistent annual 7% GDP growth.

Thailand’s Remarkable Growth and Regional Dynamics:

🇹🇭 Thailand’s job market grew by 15% in 2023, showcasing resilience. Positive trends in 🇮🇩 Indonesia and 🇰🇭 Cambodia echo regional optimism as hiring initiatives resurface.

Refining Employer Strategies Across SEA:

To navigate this transformation, employers must refocus on employer value propositions, emphasizing company narrative, such as PURPOSE, VISION & VALUES 👀

Positive Narratives and Cultural Alignment:

Reconnecting with values and fostering a culture of recognition builds positive narratives and shared excitement among teams. This is likely needed as a counter to some of the more conservative, ‘formation holding’ agendas that got us through 2023! 📣

Cross-Company Communication Strategies:

Now is the time for SEA businesses to reconnect transparently, aligning purpose and values with teams as the job market undergoes a potential significant shift to growth. This is to ensure risk are managed around potential flight risks and red flags across the business that could lead to retention issues!📢

Key message: As 🇲🇾 Malaysia and other SEA economies, including 🇹🇭 Thailand’s remarkable 15% job market growth in 2023, enter a more dynamic Q1 2024, businesses prioritizing EVP refinement, positive narratives, and open communication within their existing teams will be the winners. 🌈