Global Business Services will generate over RM14 billion next year. Are our graduates prepared?

The Global Business Services (GBS) industry continues to gain momentum as the preferred sector for graduates to look out for. With over 400 multinational companies already setting up regional and global services centres in Malaysia, this sector is expected to generate RM14.39 billion revenue in 2017* and create 70,000 jobs by 2020**.

Formerly known as ‘shared services and outsourcing’, GBS covers four areas namely IT management, business process management, software services and infrastructure management services. In Malaysia, the industry offers a wide array of career paths with employers in banking and financial services, information and communication technology (ICT), logistics and transportation, healthcare, and fast moving consumer goods (FMCG). 

Recognising the need for a quality and sustainable talent pipeline for the GBS industry, TalentCorp, together with the Ministry of Higher Education (MOHE) and the Malaysian Digital Economy Corporation (MDEC) have come together to collaborate on an Industry-Academia Collaboration (IAC) focused on GBS. This new IAC-GBS will offer a coordinated approach for the sector’s employers and Malaysian universities to identify areas for collaboration towards enhancing graduate employability. The collaboration also aims to raise awareness among Malaysia’s future workforce of the career opportunities in GBS.

According to TalentCorp’s Chief Executive Officer, Shareen Shariza Dato’ Abdul Ghani, not many Malaysians are aware that the GBS sector is perfectly positioned to offer exciting and rewarding careers. 

The IAC-GBS programme will be central to raising the profile of GBS as the career of choice, as it will allow a more compelling participation of key partners in the industry and academia, which in turn will give a better awareness and understanding of the sector to young talents."

She said this at the launch of the new collaborative programme at Universiti Pendidikan Sultan Idris (UPSI) campus at Tanjung Malim, Perak. 

Deputy Minister of Higher Education, Datuk Dr Mary Yap Kain Cheng, who officiated the IAC-GBS launch, said that Malaysia’s GBS industry has grown significantly due to the nation’s positive financial fundamentals, availability of capable talent and ease of doing business. 

However, she admitted that many employers find local graduates not adequately prepared to take advantage of the opportunities offered by the sector’s growth, especially in terms of skills and competencies needed by the industry. 

This is made worse in the Malaysian context when as a result of economic development, industries are fast evolving, moving up the value chain and requiring new skillsets from our young talents."

"Addressing key shortages of talent in Malaysia is best achieved by better understanding of what skillsets are in demand, and coordinating efforts of relevant Government agencies, in addition to forging partnerships with industries,” said Datuk Dr Mary. 

The IAC-GBS will connect employers to prospective talents, embed GBS into university curriculum, and offer students industry-relevant exposure and certification. Over 25 leading employers with global business operations in Malaysia are already listed as partners in the IAC-GBS programme. Companies such as Aegis BPO, Brandt International and Standard Chartered have committed to providing internships and opportunities to students interested in the GBS sector.