In today’s rapidly changing economy, businesses cannot make long-term plans due to the VUCA (variability, uncertainty, complexity, and ambiguity) of their business environment. Innovation is the mantra of today, and companies that fail to innovate can be confident that they will be prepared for voluntary early retirement. The industry remains relevant and continually enhances the game that emerges among high-income economic players.
Enter the Human Resources Development Fund (HRDF). An organization that continuously invests in various technology improvement and capacity-building programs for all sectors, especially SMEs across the country. HRDF faithfully adheres to its vision of becoming the nation’s best talent development institution and provides human resources development (HRD) solutions through funding, evaluation, and competency-enhancing training, education, and public relations programs.
The organization, in cooperation with the government, is promoting the implementation of the same HRD project formulated in accordance with the 11th Malaysia Plan last year. These initiatives include:
- Improving labor market efficiency to stimulate economic growth.
- Transforming technical and vocational education to meet industry needs.
- Reinforcement of lifelong learning to improve skills.
- To improve the quality of the education system for better student performance and institutional excellence.
“HRDF’s dynamic new mission will create a 35% skilled Malaysian workforce and 1.5 million jobs by 2020,” says Datuk CM Vignaesvaran Jeyandran, HRDF’s Chief Executive Officer. According to Vignaesvaran, there are currently 17,585 employees enrolled in HRDF in the manufacturing, service, mining, and quarry sectors, with approximately 2 million employees benefiting from HRDF training and development programs. When the extension of the Talent Development Act of 2001 (Akta Pembangunan Sumber Manusia 2001) goes into effect on April 1, that number is expected to increase soon.