Sim: Under the Human Resources Ministry’s Reengineering Policy HRD Corp has already improved grant approval turnaround time from 48 hours to 24 hours.
IT’S surely a feat that the Human Resources Ministry can be proud of, as HRD Corp once again broke records with the highest levy collection in its 32-year history.
HRD Corp hit RM2.3bil in 2024 compared to RM2.1bil in 2023, reflecting its strongest financial and operational performance, and demonstrating its vital role in advancing Malaysia’s human capital development.
This is a mandate for HRD Corp, as the figures reflect both increased compliance among employers and HRD Corp’s improved collection mechanisms.
The funds collected directly contribute to the development and implementation of workforce training programmes.
Many public-listed companies in Malaysia cannot even reach these kinds of figures in terms of revenue, let alone profit before tax.
The year saw unprecedented figures in levy claims, financial assistance and levy collection, setting new benchmarks for HRD Corp.
One of the most significant milestones achieved by HRD Corp was the disbursement of 85% of levy claims through various schemes to both employers and training providers, amounting to RM1.99bil.
This marks a remarkable 31% increase from RM1.52bil in 2023.
In short, HRD Corp has not just been busy collecting levies, but also giving back to contributors in equally huge sums.
However, HRD Corp has not always been in the positive light.
It faced its share of unwanted and, at times, unwarranted publicity in 2024.
Politics, jealousy, a lack of understanding of procedures, and perhaps some misjudgements became controversial issues last year.
But as Minister Steven Sim rightly pointed out, the responsibilities of HRD Corp “are not just to collect levy, but we want to ensure that the levies are fully utilised.”
He said under the Human Resources Ministry’s Reengineering Policy, HRD Corp has already improved grant approval turnaround time from 48 hours to 24 hours. In 2025, it aims to reduce the time to just an hour.
Similarly, claims disbursement, which previously took 14 working days, is currently processed in seven working days.
In 2025, HRD Corp aims to improve this to just three working days.
HRD Corp also achieved a record-breaking year for financial assistance, in line with its mission to support workforce upskilling.
The organisation distributed 98% of the allocated funds, representing a 29% year-on-year growth, with RM2.27bil disbursed in 2024 compared to RM1.76bil in 2023.
These exceptional figures reflect HRD Corp’s continued commitment to enhancing Malaysia’s talent pool by facilitating skills development and workforce readiness.
Through its innovative programmes and partnerships with industry stakeholders, HRD Corp has successfully bridged skill gaps, ensuring that Malaysian workers remain competitive in an evolving global market.
HRD Corp’s success in 2024 is a result of its strategic initiatives aimed at improving operational efficiency and maximising the impact of its funding programmes.
However, it must embrace new technologies and streamline its processes to maintain this momentum.
“Our success in securing 2024’s levy contribution is a direct result of our engagement with key policy reforms, stakeholder-friendly initiatives and the highly effective utilisation of resources.
“Moving forward, we will continue embracing new technologies and streamlining processes to further enhance our impact, ensuring that Malaysian talent remains competitive in an evolving global economy,” said HRD Corp chief executive Datuk Shahul Hameed Dawood.
HRD Corp must continue improving to meet the growing demands of the workforce and ensure that its resources are allocated where they are needed most.
It would need to focus on key sectors such as digital skills, technology and green industries.
By aligning its initiatives with the evolving needs of the market, HRD Corp will contribute to Malaysia’s long-term economic sustainability and growth.
With its record-breaking feats, the targets can only get higher as HRD Corp continues its vital work in driving skills development across the nation in 2025.
HRD Corp has announced plans to strengthen its financial assistance programmes, expand partnerships with training providers, and focus on the future of work to ensure that Malaysia remains a leader in human capital development.
In 2024, HRD Corp approved over 70,000 claimable courses for various sectors.
It is interesting to note that green technology, digital technology and artificial intelligence were among the offerings.
This ensures that training courses stay relevant and up to date.