•
Companies are increasingly unsatisfied with the level of
technical skills and specialized knowledge of the students
graduating from IHLs.
Low efficiency and effectiveness in provision of training
•
5. Improve quality
Nearly half (44%) of the respondents do not provide training and
efficiency
of
for their employees. As for those who do, the majority (63%) training provision
provide training to less than 10 employees only.
•
There is a high dependence on internal training (63%), which
is almost equal to the utilization of external training (68%).
The time-consuming and extensive nature of internal training
could be negatively affecting a company’s productivity. As
companies’ own employees are spending more time training
new hires, there is an opportunity cost for these capable
employees to contribute to more value-added work (e.g.
research activities, automation) that could facilitate the
company to move up the value chain.
•
As the sector is labour-intensive, overreliance on internal
training may also result in unnecessary costs, which could be
financially detrimental to companies that are struggling to
stay afloat in a poorly performing market.
•
In addition, utilization of HRDF levy as a source of funding
for training expenses is low (30%), with a much lower
utilization of HRDF pool fund.
Environmental Scan – Maritime (Shipbuilding and Ship Repair -SBSR) Sector
49