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From incentives for upskilling and reskilling, to support for hybrid work models and employee wellbeing, here’s what leaders we've spoken to are hoping for in the year ahead.
As Malaysia awaits the announcement of Budget 2025, HR professionals are keenly watching for policies that will shape the future of the workforce. With the evolving challenges of global inflation, talent shortages, and digital transformation, the budget is expected to address key areas that impact both businesses and employees.
To provide a glimpse into the expectations of the HR community, we’ve gathered insights from industry leaders on their wishlist for Budget 2025. From incentives for upskilling and reskilling, to support for hybrid work models and employee wellbeing, here’s what some HR professionals are hoping for in the year ahead.
Lisa Wong, General Manager, Corporate Human Resources, Kossan Rubber Industries
I would like the Human Resource Minister to focus on talent development. While universities seem prepared for industries, Malaysia still lacks in industrial training, relying heavily on interns.
At Kossan, we spend significant time and resources on training because existing staff and HODs cannot handle it. We hire a dedicated L&D team to train fresh graduates and interns.
Kossan prioritises interns to build a talent pipeline. We engage with universities, identifying suitable interns and maintaining contact until they graduate. We're focused on developing technical talent, especially engineers, technicians, and specialists in ESG, sustainability, and environment.
Although Malaysia has engineers, we now lack design engineers. The design-engineering programmes, once strong, have been removed from the curriculum in the last five years, which is concerning. We urge the Human Resource Minister to work with us to better prepare students for the industry, especially manufacturing.
Rayyan Irwan Bin Mohamed Hatta, Head of Strategic HR, Bank Muamalat
We have allocated more funds for AI learning in the banking industry, particularly in Malaysia, through our collaboration with AICB (Asian Institute of Chartered Bankers). They’ve developed a future skill framework, identifying 36 evolving roles and 17 diminishing ones. Our focus is on reskilling and upskilling employees in the impacted roles, especially around data, IoT, and AI. At Bank Muamalat, 130 employees in financial disbursement will be affected as these processes become automated.
While there may be resistance to change, we are optimistic about finding new roles for them. Additionally, we’re investing in chatbot automation and system upgrades to enhance self-service HR. A challenge we face is resistance to online learning, particularly from unionised employees at branches who prefer physical training. To address this, we are considering hybrid models, with physical regional meetups and online training broadcasts from KL. This will balance union concerns while promoting more efficient learning and development strategies for 2025.
Zamhari Zaidi, General Manager of People, Uzma Group
For Budget 2025 Malaysia, I hope the government continues its focus on economic growth and sustainability, while refining the way taxes and subsidies are managed. Subsidy plans are at the heart of public concern, and removing eligibility for certain income groups could unintentionally affect a larger portion of the population.
The current approach, which classifies households based solely on income, overlooks the unique financial pressures faced by larger families, who often have greater commitments. A more nuanced system, considering family size and obligations, would ensure fairer distribution.
Additionally, retaining local talent must remain a priority. Removing subsidies from higher-income groups might discourage those who have worked hard to succeed. A balanced approach would support both economic mobility and social equity.
Dr. Loo Leap Han, Head of People, Infinity Logistics and Transport
The key HR wish list for Malaysia Budget 2025 is to introduce tax incentives for companies that invest in employee mental health and well-being programmes. For example, giving tax relief for businesses that offer comprehensive mental health support, such as counselling services, stress management workshops, and digital mental health apps, can help reduce workplace stress and improve productivity.
This incentive will encourage more companies to prioritise employee wellbeing, in line with national efforts to enhance workplace mental health and build a healthier, more resilient workforce.
Dr. Syukri Sudari, CPIF, Group Chief People Officer, Affin Bank
The government should provide funding or tax incentives for companies investing in upskilling and reskilling their workforce, particularly in digital technology, automation, and sustainability. This will ensure Malaysia's workforce remains competitive and future-ready amidst rapid technological advancements.
For more on Malaysia’s Budget 2025, click here to read our previous coverage.
Photos: Provided
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