Hrd Corp Sets Several Records Making 2024 Its Best Year Ever

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More workers have benefited from HRD Corp’s initiatives in skills development and training programmes.
PETALING JAYA: Human Resource Development Corporation (HRD Corp) ended 2024 on a record high in several areas, including financial and operational performance.
It concluded the year with the highest ever in levy collection, amounting to RM2.32 billion, up 8.9% from the previous year’s collection of RM2.13 billion.
In levy claims, it disbursed an unprecendented sum of RM1.99 billion, a 31% increase over the RM1.52 billion extended in 2023.
This accounted for 98% of the allocated funds, the highest ever achieved by HRD Corp.
The nation’s human capital development agency also distributed RM2.27 billion in financial assistance, up 29% from the RM1.76 billion given out in 2023.
In a statement outlining its performance for the financial year 2024, HRD Corp attributed the record-breaking levy collection to increased compliance among employers as well as an improvement in its own collection mechanism.
“The funds collected directly contribute to the development and implementation of workforce training programmes,” it said in the statement.
More workers reaping the benefits 
The agency also set new benchmarks in terms of assistance rendered.
The statement said the record-breaking figures reflected HRD Corp’s continued commitment to enhancing Malaysia’s talent pool by facilitating skills development and enhancing workforce readiness.
“Through our innovative programmes and partnerships with industry stakeholders, HRD Corp has been able to bridge skill gaps, ensuring that Malaysian workers remain competitive in an evolving global market,” it added.
Robust strategy for future growth 
HRD Corp has attributed its sterling performance in 2024 to its strategic initiatives aimed at improving operational efficiency and maximising the impact of its funding programmes.
It said that with the adoption of new technologies and by putting more streamlined processes in place, it would be better equipped to meet the growing demand of the workforce while ensuring that its resources reach those who need it most.
Focus on key sectors for national development 
The agency, which is under the purview of the human resources ministry, said that in line with national economic objectives, it has continued to focus on key areas such as digital skills, technology and green industries.
“By aligning our initiatives with the evolving needs of the market, we are contributing to Malaysia’s long-term economic sustainability and growth,” HRD Corp said in the statement.
What the future holds
Riding on its outstanding performance in 2024, HRD Corp is poised to continue its work to drive skills development in Malaysia.
Among its plans for 2025, the agency said, it will work on further strengthening its financial assistance programmes while expanding its partnerships with training providers.
“We will also focus on the future of work to ensure that Malaysia continues to be a leader in human capital development,” it added. - FMT

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