Human Resources (HR) is in a state of flux. Global volatility and uncertainty have driven focus for business leaders to steer through the coming years while increasing business value through HR. It is a journey from flux to flow.
With the Employment (Amendment) Act 2022 in effect as of 1 January 2023 in Malaysia, there are several crucial changes to the HR practices that may then impact the way organizations conduct their businesses. These changes are amplified by the uncertainties left behind by COVID-19. The labor market is experiencing acute shortages of key skills, as employees go through the ‘Great Resignation’; thus, the HR practices that worked pre COVID-19 may no longer be relevant.
As business leaders set their sights closer towards the immediate future, the state of flux in the labor market needs to be addressed. It is imperative for HR leaders to reorient their strategy and evolve to navigate through this increasingly complex landscape.
