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Malaysia’s job market is at a pivotal juncture, grappling with significant challenges that underscore the urgency of addressing unemployment and enhancing digital literacy, especially among the B40 youth. The COVID-19 pandemic has further intensified these issues, highlighting a pressing need for immediate action to equip the workforce with the necessary skills for the digital age. The World Bank’s projection of the need for over 600 million new jobs within the next decade adds to this urgency. In 2021, despite a peak unemployment rate of 5.3% the previous year, the number increased and the unemployment rate to 4.1%.
As of January 2023, the unemployment rate has shown signs of stabilization at 3.6%, reflecting the nation’s resilience and concerted efforts to bolster economic health and workforce strength amidst global challenges. This improvement, along with a marginal increase in the labor force and a steady labor force participation rate of 69.8%, signals progress yet underscores the ongoing need for strategic interventions. These statistics not only highlight the critical crossroads at which Malaysia’s workforce stands but also the importance of adopting comprehensive strategies to foster a robust, future-ready workforce capable of navigating the complexities of a rapidly evolving economic landscape.
The Digital Entrepreneur program, through its strategic partnership between Futuremakers by Standard Chartered and Mereka, leverages a robust methodology to empower Malaysia’s 500 B40 youth. This initiative stands out by integrating advanced e-learning platforms, facilitating real-world virtual project placements, and providing ongoing mentorship from industry leaders. By focusing on in-demand digital and entrepreneurial skills, the program showcases our ability to adapt to evolving market needs, ensuring participants are not only trained but also ready to navigate the digital economy with confidence. This comprehensive approach demonstrates our commitment to leveraging technology and innovation to create tangible, positive changes in the workforce.
Program Highlights:
Strategic Goals Achieved
Success Metrics: Insights from 500 Program Participants
A Door or Window-like Programme. The programme has given me the basics and information needed for anyone interested in entering the gig world. It could also be helpful to those who are freelancers in such a way that they could identify their strengths and niches better while finding out more about their weaknesses and how to handle them. The speakers, hosts, and guests have been helpful and the sessions are very informational. Well, to put it simply, the programme is like one of those doors that could either open up you up better opportunities or a window where you can look out of to expand your views more.
Nurin Syasya
I enjoyed this program. All courses helped me improve in every aspect of my career and well-being. I appreciate all the instructors, they're very knowledgeable and willing to answer questions as they come up and explain it thoroughly. These courses helped me organize my ideas and apply them in the real world. Overall everything is excellent. Thank you for choosing me to join this FoW program. I honestly recommend this to others. I hope there's more like this program in the future.
Sabriena Nizam
Everything about Future of Work was exceptional for a fresh graduate like me! Prior to joining the programme, I was clueless about how I could secure a job within the competitive market in Kuala Lumpur. I graduated in February 2022 and started applying for jobs but then, I realised that I had no solid experience and understanding of how to market myself. Throughout my journey with FoW, I managed to get into the graduate trainee programme with one of the respectable government-linked companies in Malaysia. In FoW, all the self-learning tutorials and after-office-hours classes were well-organised, and it helped me to learn about thriving in my first job and excelling within my capacities. I was recommended to join FoW last year but decided to give it a shot in 2023 as my goal was to use this opportunity to be more productive by further developing my professional and soft skills to the next level. FoW succeeds in exposing me to new schools of thought beyond what I had learned academically back in university. I gained meaningful insights through my short-term journey with them, and it allowed me to branch out into my future opportunities. As a past participant, I firmly believe that FoW is an important building block for anyone who would like to elevate their career to a better position.
Fadhrullah Hakim Yusop
Very efficient and talented. Able to complete tasks independently and with quality. Have the initiative to inform and update without waiting for a supervisor to follow up. She motivates me to work more for my business.
Nurul Huda
Solid technical skills, timely deliverables submission, committed to work and passionate to learn. Deliverables are above and beyond expectations, and highly undervalued talent.
Nicholas
Had the initiative to execute the planned digital materials without much guidance. The content prepared was suitable and aligned with our organization. The contents created were relevant. Prompt in delivery of materials.
Impactlution Sdn Bhd
