KUALA LUMPUR: As Malaysian workers grapple with stagnating wages, employers are emphasising the importance of upskilling and reskilling their workforce.
Malaysian Employers Federation executive director (MEF) Datuk Shamsuddin Bardan said there was a pressing need for businesses to embrace digitalisation in their daily operations.
"This includes the implementation of artificial intelligence, mechanisation and automation to enhance productivity and competitiveness."
He said a significant hurdle remained in achieving the desired percentage of employees with Malaysian Skills Certificate (SKM) Level 4, currently hovering at 28 to 29 per cent.
"The target is set at 40 to 50 per cent by 2025, a goal viewed by many as challenging to attain. However, the adoption of digitalisation emerges as a pivotal solution."
Shamsuddin said there was growing concern about the rising cost of doing business, exacerbated by the current gross domestic product landscape.
He said while increasing wages was a topic of discussion, implementing it was challenging for many businesses.
He said many businesses still relied on external financing, where the burden of higher interest rates or extended loan repayments was a significant issue.
"This is where the government should come in strong and assist businesses.
"For example, mitigating the impact of higher loan interest rates."
Shamsuddin said micro, small, and medium enterprises, in particular, would benefit from government assistance as they often lacked the financial resources to adopt advanced technologies.
"They make up more than 90 per cent of businesses in Malaysia, so to overlook their needs is unfair."