Emerging technologies and rising costs had the biggest impact on the hiring landscape for Accounting and Finance talent in 2024.
Over the past year, businesses have ramped up adoption of technologies like automation and artificial intelligence (AI), which has transformed traditionally routine processes like data entry, analysis and reconciliation. Now that accounting professionals need to spend less time on these activities, they will need to upskill to deliver value in other areas, says Melvin Yong, Senior Manager at Robert Walters Malaysia.
This upskilling may be especially crucial as hiring activities slowed down due to increased costs. “Small and medium-sized enterprises, in particular, were most affected by this. Operating costs went up, and as a result, many businesses held back on hiring,” he explains.
Read on to find out more about Melvin’s expectations of the labour market and hiring trends for Accounting and Finance professionals in Malaysia in 2025.
Retaining employees old and new
An extension of a trend from recent times that Melvin expects to see in 2025 is that of boomerang employees – talent that hiring managers choose to rehire. This comes as the industry maintains cost-conscious attitudes, and companies believe that these hires require less resources for training and onboarding as they are already familiar with the company’s culture and operations.
Nevertheless, the talent pool remains tight. Hiring teams often struggle to secure the talent they need, so there will be an inclination towards hiring on potential in the year ahead. This goes hand-in-hand with talent retention efforts to keep key talent onboard. Companies will focus on implementing initiatives and support systems to engage employees, recognise their contributions, and help them achieve their career goals.
Delivering value through digital skills and strategic insights
Tech proficiency is highly sought after now that employees need to learn new skills and pick up tools to deliver greater value. Professionals who can translate numerical data into meaningful business insights, then communicate that information in a clear, concise manner, will also stand out.
Strategic thinking and business acumen are also increasingly important as technology takes on routine tasks, as businesses count on finance professionals to achieve their commercial objectives. An example that he draws is of a financial analyst, who may use predictive modelling to assess market trends or reviewing sales data to improve product offerings and inventory management.
Some of the most in-demand roles in the sector are finance analysts and finance managers. Sustainability and ESG specialists are also in great demand as regulators are now more proactive about enforcing ESG reporting.
Flexible, remote work arrangements a big draw
Candidate motivations in this field have remained consistent to previous years, with Melvin pointing to compensation and work-life balance as some of the key factors. Job seekers also consider a company’s financial stability and how advanced they are with technological adoption when evaluating an opportunity.
With more companies reducing work-from-home days, or even mandating a full return to office, candidates are drawn to firms that continue to offer flexible and remote work options.
Lastly, work culture is also key in an industry where employees spend a substantial amount of time at work. According to him, candidates want a positive, engaging and open environment that supports their well-being and growth.
Invest in employer branding
A strong employer brand is more important as ever, as companies need to stand out from the noise to reach potential candidates. He recommends highlighting key value propositions like positive work culture, environmental and social initiatives, as well as effective management to promote a stellar company reputation.
Employee development programmes are also a common feature in employer branding efforts – and for good reason. Done well, these programmes provide goals that keep staff engaged and looking ahead, and they also appeal greatly to prospective hires looking to advance their careers.
Younger, tech-savvy candidates are also drawn to companies that are innovative and eager to keep up with technological advancements. Investments in this area will also help streamline routine processes and improve efficiency.
Salaries not expected to rise by much
“With rising operational costs and a lacklustre economic outlook both locally and globally, salaries are not expected to rise significantly,” says Melvin. “In-demand positions may see larger increments.”
Find out more
Request access to our 2025 Salary Survey to benchmark salaries and to find out more about key hiring trends in the Accounting and Finance industry in Malaysia.
