Human Capital Development

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The Human Capital Development SRI was developed from recommendations of the New Economic Model (NEM) and aims to enhance the country’s workforce while supporting the human capital needs of the ETP’s 12 NKEAs.

Human Capital DevelopmentTo this end, this SRI undertakes a two-pronged approach which addresses workplace transformation and workforce transformation. The former refers to the components recommended by the NEM which are critical to improving effectiveness in the workplace. The latter, meanwhile, focuses on efforts which complement the Government’s existing measures to enhance human capital. These address the need for comprehensive labour market data and upskilling and upgrading employees.

In this respect, this SRI has focussed on modernising labour legislation, upskilling and upgrading the workforce, strengthening human resource (HR) management for SMEs, leveraging women talent and undertaking labour market surveying and forecasting.