The population of Greater Kuala Lumpur (KL)/Klang Valley (KV) must grow by an additional four million to 10 million workers by 2020 to meet employment and GNI growth demands. This EPP is therefore focused on attracting the optimal number of desired talent to contribute to the region’s employment needs through building a local ecosystem to create a large number of jobs; developing a comprehensive talent attraction programme; attracting qualified and skilled Malaysians living abroad; and retaining foreign talent who are already in Malaysia.
To this end, Talent Corporation Malaysia (TalentCorp) was established in 2011, collaborating with leading employers driving the economic transformation, to address their talent needs. Partnerships with employers focus on the three main thrusts:
- Optimising Malaysian talent which focuses on building the pipeline of industry ready graduates through a three-pronged approach involving greater career awareness, industry exposure, and enhancing their employability
- Attracting and facilitating global talent through the Returning Expert Programme (REP) which facilitates the return of experienced Malaysian professionals from abroad, and the Residence Pass-Talent (RP-T) initiative which enables top expatriates and spouses to live and work in Malaysia on a long-term basis
- Building networks of top talent by creating networks for future leaders, expatriates and the Malaysian diaspora
Other initiatives driven by TalentCorp include:
- Structured Internship Programme (SIP) which provides companies a double tax deduction for expenses incurred when hiring interns under the programme
- Scholarship Talent Attraction and Retention (STAR) initiative for PSD scholars to serve their scholarship bond in the private sector
- Graduate Employability Management Scheme (GEMS) which aims to inculcate graduates with industry-specific technical knowledge as well as essential ‘soft skills’ for the workplace
- flexWorkLife.my, a portal that aims to build a network of employers and talents to optimise work-life integration, with the intent to promote family-friendly working environment and increase women participation in the workforce
- TalentCorp, along with the Economic Planning Unit and the Securities Commission Malaysia hosted two Business Leaders Dialogues in April and August 2014, between the Prime Minister, CEOs of top 50 listed companies and Government-linked investment firms. This was aimed at ensuring better representation of Malaysia’s workforce, in terms of gender, ethnicity and age, in leadership and management.
- Following the Business Leaders Dialogues, effective 1 January 2015, all listed companies are required to disclose their diversity policy for board, management and workforce in terms of gender, ethnicity and age in their annual reports.
- During the year, TalentCorp partnered with ICAEW to launch the Women in Leadership Malaysia (WIL MY) programme to provide leadership development and mentoring for senior women managers.
- Global Malaysians was launched in September 2014 to connect Malaysian professionals working overseas with leading Malaysian employers keen to tap into their international experience and expertise.
- TalentCorp approved 1,007 applications for the Residence Pass-Talent Programme in 2014. The Expatriate Services Division (ESD) was established to better facilitate the entry and retention of foreign talent. The immigration Department will commit to a five-day client charter to process employment pass applications by companies registered with the ESD.
- In October 2014, JPA and TalentCorp launched a pilot JPA Management Apprenticeship Programme (MAP) for JPA scholars graduating from UK and US universities. The initiative places unemployed scholars in three-month apprenticeships at various firms such as Celcom, First Solar, Strand Aerospace and PwC.
Talent Corporation, a new government agency under the stewardship of Johan Mahmood Merican as the Chief Executive Officer.