Rethink business models to retain and develop workforce — Talentcorp

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KUALA LUMPUR (Jan 5): Organisations need to rethink their business models and look at ways to retain and develop their employees in 2018 in the face of a vastly changing employment landscape, said Talent Corporation Bhd (TalentCorp).

"2017 was a year that highlighted how our work, workplace and workforce are being disrupted as a result of the technological breakthroughs. As we journey into 2018, it is crucial that we look critically into the fact that more than half of all current jobs in Malaysia are at risk of being automated," said TalentCorp chief executive officer Shareen Shariza Abdul Ghani.

Shareen said the nation's aim to nurture a highly skilled human capital will take time but will happen as all stakeholders shift their mindsets and implement the right initiatives to ensure no one is left behind.

"We should not look at our jobs or career with a tunnel vision. As industries concurrently experience the effects of digital disruptions, jobs are becoming increasingly non-linear. In the coming months and beyond, we need to ensure that we are well prepared and able to adapt to the new roles, opportunities and demands of this future workforce," she said in a statement today.

Shareen added that policy-makers need to think beyond automation, and that people themselves should play a part in redefining work.

"Industries and organisations simultaneously need to innovate in order to stay relevant and competitive, such as implementing work-life practices for employees. With all the challenges present today, we need a strong ecosystem made up of the government, private sector, academia and other key stakeholders that collectively share the same talent agenda," she said.

It is also crucial to look into the fact that the nation loses half of its workforce when women go on career breaks due to family commitments.

"The absence of women from Malaysia's skilled talent pool impacts the nation's economic growth. That is why encouraging employers to recruit women on career breaks is a priority for TalentCorp. Through our career comeback programme, we provide grants to employers who actively participate in the recruitment and retention of women who wish to return to the workforce.

"We are at a critical inflection point that will affect our economic growth. If we do not future-proof our workforce now, we will fall behind," said Shareen.