Seek right talent to clear oversupply, Randstad Malaysia tells property companies

KUALA LUMPUR (March 3): Property companies must prepare to get the right talent in order to push buyers into the market to clear oversupply of properties in the country, according to a recruitment agency, Randstad Malaysia.

Its human resources services leader said it is common for companies to seek experienced talent to drive project completion and build a healthy project pipeline to ensure business continuity.

"Supported by strong funding, some property firms are also leveraging this ‘cooling period’ as an opportunity to increase their activities and expand their market share.

"However, there will be a handful of companies that will continue to adopt a ‘wait-and-see’ approach, as they draw up a vision of how Malaysian’s property market can potentially benefit buyers in the long-term," it said in its 2020 Malaysia Market Outlook and Salary Snapshot Report-Property launched today.

The agency also noted the COVID-19 outbreak, first reported December last year, will undoubtedly impact the buyers’ market as a result of travel bans and additional precautionary measures implemented by companies.

Elaborating on talents, job seekers in the property space this year would likely focus on relevant skills and experiences, company culture and career progression opportunities, it said.

Most candidates whom Randstad Malaysia had interacted shared they do not mind a lower average salary if it means they receive a permanent job offer, a result of slower growth in the property market which had impacted labour demand and average salary.

"Employers can introduce performance-based incentives to both attract and secure talent,” it said, adding that they can make up for the lower-than-average salary through highly-differentiated employee benefits, such as spousal insurance, access to a company car or an employee-discount on residential housing.

 

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