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Human Capital Development
The Human Capital Development SRI was a result of the New
Economic Model (NEM) policy recommendations launched by
the Prime Minister in January 2011. Implementation began after a
series of SRI labs were conducted during February to April 2011.
The Human Capital Development SRI is a critical enabler to help
transformation of the workforce and workplace. This involves the
implementation of strategic programmes parked under six key
policy areas:
1. Modernise labour legislation
2. Focus on upskilling and upgrading the workforce
3. Strengthen human resource management
4. Leverage on women’s talent to increase productivity
5. Undertake a labour market forecast and survey programme
6. Enhance labour safety net by introducing unemployment
insurance
Datuk Seri Dr. S. Subramaniam,
Minister of Human Resources
SrI: Human Capital Development
The Human Capital Development SRI cuts across all 12 National
Key Economic Areas (NKEAs) and functions as an enabler in
supporting the implementation of the NKEAs besides ensuring
competitiveness in its execution.
Modernising Labour Legislation
Modernising labour legislation is crucial to ensure laws unsuited
for a modern economy and impedes our progress and global
competitiveness are reviewed and updated holistically. In doing
so, the approach taken ensures that amendments to the laws are
not fragmented and reactive. The proposed amendments focus
on the dual objectives of reducing cost to business of labour
management and ensuring effective worker protection.
These proposed amendments pertain to the following acts:
• Employment Act 1955
• Industrial Relations Act 1967
• Trade Unions Act 1959
Foreign workers and other legislation
•
Our people are the engines of our economy. The Human Capital Development (HCD) SrI
enables us to lay the foundations in place that will allow us to maximize the human talent,
this country so richly possesses. It is a critical enabler for us to transform the workplace as well
as the workforce. The initiatives under HCD aim to resolve challenges in labour legislation by
providing effective workers’ protection whilst easing cost of doing business for employers.
In line with the Government’s aspiration to be a developed nation, minimum wage will be
announced to provide additional workers’ protection.
The HCD SrI also looks at up-skilling and upgrading the skills and competencies of the critical
mass of the workforce and increasing women’s participation to ensure we can meet the
talent demands of a high income nation. The Government is confident that these initiatives
will provide Malaysia with a highly skilled talent pool that will be able to compete in an
increasingly globalised environment.
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