Rapid changes in digital technology, business models and workforce demographics are radically reshaping the future of work. To meet the demands of this rapidly-evolving business ecosystem, business leaders see a need to redesign the organisation. The recent article by Bank Negara on the overview of key employment trends and emerging developments within the Malaysian financial sector workforce, shares some important strategies and priorities that will be implemented towards building the workforce of the future.
"Current employment trends in the Malaysian financial sector"
Current trends in the financial sector workforce are indicative of a trajectory towards becoming more technology-intensive and knowledge-driven. This transition has the potential to be highly disruptive in a way that could undermine the broader benefits from a more productive and higher-skilled workforce.
"Emerging developments within the financial sector workforce"
Equipping the workforce with new skillsets that are relevant and practical for the needs of the future. In line with a heightened focus on professionalism as part of ongoing regulatory reforms, this also entails the raising of professional standards and ethical conduct in the workforce.
"Implications and strategies for workforce planning and talent management going forward"
The important shifts in job creation, hiring trends and workforce composition that are taking place amid the changing financial landscape. Looking ahead, several factors will be key in shaping the workforce needs of the Malaysian financial sector. In particular, these factors include the pervasive impact of technology on both business strategy and processes, higher and more complex demands from the ongoing regulatory reforms, expanding cross-border operations and changes in consumer interactions.
Sarala J Marimuthu
Chief Development Officer, Finance Accreditation Agency
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