Budget 2022 should focus on building a workforce of the future: Jobstreet

• Budget 2022 should focus on upskilling, creating workforce of the future
• Digitisation and having a digital workforce, critical for SMEs

JobStreet is hopeful that the upcoming Budget 2022 would focus on upskilling and creating a ‘national workforce of the future,’ given the fast-evolving employment market due to digitisation and a shortage of qualified talents in emerging roles,

In a statement, JobStreet Malaysia, a subsidiary of SEEK, said it is also looking forward to deeper collaboration with the Malaysian government to progressively build a ‘digital first’ workforce.

Its managing director Vic Sithasanan said given the rising demand for digital tools and processes, there is an urgent need for Malaysians to appreciate the need to continuously upskill themselves with digital technologies, digital literacy, and transferable skills.

“With automation and digital technology having disrupted the job market, traditional roles are fast disappearing while roles involving the ‘workforce of the future’ are fast emerging,” said Vic, adding that JobStreet is expecting training and technology-enabled learning initiatives to be announced within Budget 2022.

JobStreet also believes in ‘standing by Malaysia's small and medium enterprises (SMEs)’ and that businesses have a lot to gain from embracing digital technologies into their existing business models, which would improve productivity while opening up new revenue streams.

Jobstreet said that according to the University Consortium of Malaysia, SME productivity was boosted significantly through digitalisation with SMEs experiencing a 26% increase in productivity through social media, and e-commerce saw SME productivity increase by 27%. 

On a more advanced level, using digital technologies for the backend such as data management solutions could increase SME productivity by up to 60%, it added.

Vic said that digitisation is a critical element for business continuity, while having a ‘digital first’ workforce is just as critical for SMEs.

With the Malaysian economy now progressively recovering due to the loosening of restrictions, JobStreet assured that it would stand by Malaysia through ‘thick and thin’ and play its part in rebuilding the economy.

Just a fortnight ago, JobStreet had organised its Virtual Career Fair 2021 that emerged as a huge success with more than 500,000 visits and over 100 employers participating, the company claimed.