Globally, talent is recognised as an integral element of economic and business growth, competitiveness, and innovation. Malaysia is no different. Talent is acknowledged as the key enabler to drive Malaysia’s economic transformation and support an economy that aspires to be productivity-driven, knowledge-intensive, and innovation-led.
However, globalisation has resulted in a war for talent, a battle Malaysia must engage to secure and retain the talent needed for economic transformation. Concerted efforts are underway to improve the attractiveness of Malaysia as a destination for top global talent, both Malaysian and foreign. On its part, the Government has initiated structural reforms to comprehensively address the underlying issues for talent and enhance the nation’s talent landscape.
In tandem with this, Talent Corporation Malaysia Berhad (TalentCorp) was established in January 2011 to drive initiatives towards catalysing talent for the ETP, and to act as the bridge between talent, industry and relevant Government agencies to deliver the human capital that Malaysia critically needs from local and international sources. In our mission to build effective partnerships and make a difference in Malaysia’s talent needs, we see ourselves as the focal point between the public and private sectors to identify talent issues, escalate these issues to the relevant stakeholders and develop targeted interventions to address them.
As outlined in the Talent Roadmap 2020, TalentCorp initiatives are anchored along 3 strategic thrusts: (1) Optimise Malaysian Talent; (2) Attract and Facilitate Global Talent; and (3) Build Networks of Top Talent.
The strategy to Optimise Malaysian Talent focuses on the pipeline of young Malaysian talent. A key component is raising Career Awareness through industry led initiatives, towards channelling the pipeline of Malaysian talent towards opportunities in key sectors. Beyond awareness, TalentCorp initiatives focus on Enhancing School to Work Transition principally through a Structured Internship Programme to provide undergraduates strong exposure to careers, and Upskilling programmes to nurture talent in new areas for growth. TalentCorp has also introduced an initiative on Scholarship Management to ensure Government scholars contribute to priority areas within Malaysia’s public and private sectors.
Initiatives under the strategy to Attract and Facilitate Global Talent include International Outreach and Engagement sessions targeted at Malaysian diaspora, which are intended to raise greater awareness of job opportunities in Malaysia while promoting opportunities for collaborations and contributions while remaining abroad. Additionally, TalentCorp facilitates the return of notable Malaysian professionals from abroad through the Returning Expert Programme (REP) initiative. Recognising that expatriates in Malaysia are beneficial in spurring the competitiveness and innovative capabilities of the local workforce, TalentCorp, together with the Ministry of Home Affairs (MoHA) and the Immigration Department, oversees the Residence Pass-Talent (RP-T), an employer-independent 10-year multiple entry visa to attract and retain top foreign talent to stay and contribute in the longer term to the ETP.
Our third strategic thrust to Build Networks of Top Talent focuses on building structured networks for TalentCorp to create a talent source pool, to better enable engagement and leveraging of top talent as opportunities arise. This source pool is also aimed to provide platforms for collaborations and contributions from talent abroad.