PETALING JAYA, 9/6/2021 – The World Economic Forum’s (WEF) Global Competitiveness Report (GCR) Special Edition 2020 highlighted that the most immediate recommendation to manage COVID–19-induced challenges in human capital is to scale-up reskilling and upskilling programmes for talent and digital skill shortage to cater for the current and future workforce. Upskilling and reskilling programmes should address the increasing needs for job roles in digitalisation, automation, data analysis, and business strategy. Nevertheless, “human” and soft skills remain in high demand.
GCR 2020 recommended a pivot to a new labour market which cater for the jobs of tomorrow and align incentives to workers more effectively. Short-term priority should also be directed to expand health system capacity for lagged health services, infrastructure, and medical talent.
Over the long-term, GCR 2020 suggested reforms in education system and labor laws, and expand healthcare system, infrastructure, and innovation to give solutions to enhance human capital development.