Can this MoU reduce the graduate skills mismatch in Malaysia?

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The Memorandum of Understanding Aims to Address Graduate Skills Mismatch

The recent Memorandum of Understanding (MoU) between the Social Security Organisation (Socso), the SME Association of Malaysia, and five private higher learning institutions is designed to enhance the employability of graduates and reduce the disconnect between academic training and industry demands. This collaboration seeks to achieve this by integrating Socso's active labour market programmes with the educational frameworks of institutions like Taylor University, HELP University, INTI International University and Colleges, University Tunku Abdul Rahman (UTAR), and Tunku Abdul Rahman University College.
Partnership Focuses on Employment Placement

The core objective of this long-term cooperation is to bolster the employment placement rate for graduates. Socso chief executive officer Datuk Seri Mohammed Azman Aziz Mohammed highlighted that the initiative aims to leverage Socso's existing programmes to better connect graduates with job opportunities. This focus is crucial given the challenges faced by the workforce, with approximately 150,000 formal workers having lost their jobs and over 768,700 individuals remaining unemployed as of July this year due to the Covid-19 pandemic.
Bridging the Gap Between Academia and Industry

A significant aim of the MoU is to mitigate the skills mismatch, which occurs when the competencies acquired by university students do not align with the skills sought by employers. By fostering closer ties between educational institutions and the business sector through Socso's involvement, the partnership intends to ensure that university curricula are more responsive to the evolving needs of the job market. This approach is expected to equip graduates with more relevant and in-demand skills.
Enhancing Social Security Protection for SMEs

Beyond graduate employability, the collaboration also underscores Socso's commitment to providing social security protection for small and medium enterprises (SMEs) and their employees. This includes supporting workers in their efforts to re-enter the labour market, thereby contributing to a more stable and resilient workforce. The partnership extends Socso's reach and reinforces its role in safeguarding workers' welfare within the SME sector.

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Can this MoU reduce the graduate skills mismatch in Malaysia?

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