The Malaysian government can use MyCOL as a guide to establish priorities and allocate funds for its development programmes thanks to this criterion.
A list of 37 occupations known as the Malaysia Critical Occupations List (MyCOL) for 2022–2023 has been made public.
The Malaysia Critical Occupations List, which was created with data from employers and is compiled annually by the Critical Skills Monitoring Committee (CSC), which is co-chaired by TalentCorp and the Institute of Labour Market Information and Analysis (ILMIA), gives a broad overview of the skills and professions that are in demand across industries.
This helps organisations better understand the professions that policymakers will prioritise in terms of immigration, education, and upskilling opportunities. The labour force survey (LFS), the salaries and wages survey (SWS), information from online job postings, and previous critical occupations lists are some of the data sources.
As a result, the Malaysia Critical Occupations List categorises critical occupations based on three main factors: skill, demand, and strategy.
The Malaysian Standard Classification of Occupations (MASCO) list, which is kept up to date on a regular basis by the Ministry of Human Resources, is used to classify occupations as “skilled.” The MASCO 2020 list is used to assess the skill level of occupations in the MyCOL 2022/2023.
Eight of the nine major occupational groups identified by MASCO are either skilled or semi-skilled: One MASCO: Managers; MASCO 2: Specialists; MASCO 3: Associate and technical professionals; MASCO 4: Administrative assistants; MASCO 5: Sales and service personnel; MASCO 6: Skilled agricultural, forestry, livestock, and fishery workers; MASCO 7: Craft and related trades workers; MASCO 8: Assemblers and operators of machinery.
Due to their low educational requirements, Elementary Occupations (MASCO 9) are categorised as Low or Unskilled occupations.
When demand for a profession exceeds the supply of qualified candidates, even after employers have made an effort to fill the gap, the profession is said to be in high demand. These occupations are identified using qualitative indicators, data from stakeholders, and evidence from employers.
An occupation is strategic if it is essential to Malaysia’s goals for economic development. An occupation that is closely related to Malaysia’s economic expansion and the establishment of its knowledge-based economy is referred to as a strategic occupation.
The Malaysian government can use MyCOL as a guide to establish priorities and allocate funds for its development programmes thanks to this criterion.
The top-down approach combines information from multiple data sources and uses statistical analysis to provide objective, quantitative evidence of labour market shortages. It looks at a range of data sources to define both quantity and price indicators.
The three industries covered by the seventh edition of MyCOL are aerospace, manufacturing (food processing), and construction. 8% of the 454 non-military four-digit occupations in the MASCO 2020 are represented by the 37 occupations on the list, according to the methodology.
At the managerial, professional, and associate professional levels, the majority of these jobs are skilled occupations; the remaining 30% are semi-skilled jobs like those in the crafts and trades.
The following is a list of all critical occupations: combined mycol 2022-2023 list Nine of these were brand-new professions that had never before been listed on MyCOL: Quality managers, Medical imaging and therapeutic equipment technicians, House builders, Spray painters and varnishers, Building and related electricians, Information and communications technology installers and services, Food and related products machine operators, Earth-moving and related plant operators and Crane, hoist and related plant operators.
Eight professions have simultaneously started to show up in every MyCOL: Finance managers
Business services managers, Industrial and production engineers, Mechanical engineers, Manufacturing professionals, Software developers, Information technology system administators and Mechanical engineering technicians.
In obtaining its findings, it was discovered that a number of issues with the Malaysian labour market are preventing the nation from developing and taking advantage of major global trends, like the introduction of automation technologies.
The skills and competencies of the workforce do not meet the requirements of industry employers in three sectors: aerospace, construction, and manufacturing (food processing).
This has led to high competition for skilled and experienced workers from other countries in the region, leading many employers to move abroad.
Traditional sectors lack skilled professionals with expertise in machine learning, automation, and data analysis, leading to slow technological adoption.
Research suggests that many graduates are unable to secure suitable jobs based on their qualifications and skills due to a lack of effective planning and investments in education and skills-based training. For example, workers in the local food processing industry are forced to take on roles that do not make full use of their skills and educational knowledge when they enter the workforce.
Talent retention in Malaysia has become increasingly difficult due to the COVID-19 pandemic, leading to workers seeking alternative employment opportunities such as ride-hailing and food delivery services.
Additionally, feedback from the consultations showed that many of these employees were hesitant to go back to their prior positions after business operations resumed because working in the gig economy typically offers them higher earning potential and more work flexibility.
There is a dearth of qualified skilled and semi-skilled workers in the local labour market as a result of this, along with the fact that many skilled workers who had previously worked in Malaysia have permanently returned to their home nations.
Other specific employment challenges in each sector include low technical skill levels, a lack of relevant industry experience, construction, lack of interest, slow technological adoption, and a shortage of skilled workers.