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.
To 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.