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HRDF National Workforce Human Capital Development Blueprint (2018 – 2025)

The Human Resources Development Fund (HRDF) ‘National Workforce Human Capital Development Blueprint (2018 – 2025)’ was officially launched by YAB Dato’ Sri Mohd Najib, Prime Minister of Malaysia, on 29 January 2018 (Monday).

During an event announcing the establishment of ‘The Dewan’ by the Malay Chamber of Commerce (Dewan Perniagaan Melayu Malaysia [DPMM]) and the National Chambers of Commerce and Industry Malaysia (NCCIM) at Kompleks Seri Perdana, the Prime Minister launched this Blueprint which outlines strategic initiatives to address workforce challenges associated with Industry 4.0, digitisation, and automation.

Human Resources Minister Dato' Sri (Dr) Richard Riot Jaem, commented: “I take pride in this blueprint as it is a catalyst to realising the Malaysian government’s human capital development agenda and I would also like to take the opportunity to express my deepest gratitude to the Prime Minister Datuk Seri Najib Tun Abdul Razak for launching it."

HRDF Chief Executive Dato’ CM Vignaesvaran Jeyandran shared that as the world becomes more connected and digitalised, Malaysians are faced with two options – embrace the inevitable changes that are happening, or get left behind. He added that the key to embracing such changes and remaining relevant in tomorrow’s world, is by preparing today.

“The fast approaching Fourth Industrial Revolution (IR 4.0) necessitates the urgent up-skilling, re-skilling and multi-skilling of our human capital. We worked closely with the World Bank and have gathered input from various stakeholders on best practices. We trust business owners, human resource professionals, learning and development practitioners as well as employees, parents and young talent seeking to pursue their higher education, will find the data and analysis shared both insightful and helpful.”

Findings from this World Bank study also stated that registration with HRDF increases a firm’s likelihood of training by 24 percentage points and increase the share of workers trained by 19 percentage points. This translates to HRDF-registered firms showing approximately three per cent increase in productivity.

With the nature of work changing rapidly, new jobs are emerging and old jobs are disappearing or evolving changing. These bring both significant disruption and opportunity. Agencies tasked with human capital development are trying to keep up as skills needs evolve more and more quickly.

Check out how you together with HRDF, can help play a critical role in how Malaysia navigates the future of our human capital.