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At the same time, just 22% believe the current workforce possesses the essential skills for the evolving demands of 2024.
According to the CHRO Talent Outlook Survey 2024, only 42% of chief human resources officers surveyed in Malaysia are optimistic about the talent landscape in 2024.
The survey of 125 leaders, conducted by Malaysia's HR Leaders Circle, has identified insights that are impacting the future talent landscape, underscoring the critical challenges facing the HR community in Malaysia. Notably, the findings emphasised a strong commitment to continuous learning and unanimous acknowledgment of technology's transformative role in talent management.
Among the insights gathered, it was found that spite of challenges faced by CHROs today, 72% are committed to investing in continuous learning & development initiatives for their employees. Looking at the current state of the talent landscape, it is no surprise why — at the moment, just 22% of the respondents believe the current workforce possesses the essential skills for the evolving demands of 2024.
As a whole, 84% of these CHROs anticipate challenges in recruiting top-tier talents in the upcoming year. To note, a significant share (90%) also believe technology will be crucial in reshaping talent management strategies within their organisations.
Commenting on the insights, Farid Basir, Chief People Officer, MBSB Bank and Co-founder of the HR Leaders Circle, said: "These findings serve as a call to action for the HR community and policymakers. We must address talent readiness gaps, focusing on upskilling and leveraging technology for effective talent management."
Laurence Yap, also Co-founder of the HR Leaders Circle, further affirmed: "The overwhelming acknowledgment of technology's role underscores the need for agile talent management strategies. Embracing technology is pivotal in navigating the evolving demands of the workforce."
The CHRO Talent Outlook Survey 2024 was conducted among CHROs across Malaysia and presented to the Minister of Human Resources during a session organised by TalentCorp.
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Lead image / 123rf
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