Bear part of costs to train grads, MIM tells firms
By Roziana Hamsawi

Released by : BusinessTimes, NST
Date : Tuesday, October 31, 2006

"THE Malaysian Institute of Management (MIM) has proposed that both the Government and large corporations bear the costs to train unemployed management degree graduates. "If we let the Government bear all the costs, these companies will not do their best to train graduates because they are getting good labour for free," said MIM chief executive officer Dr Wilson Tay (picture). By making the companies pay for graduates' services, they will train them hard and this will produce more good managers, he said.

"That is what Malaysia needs now, good managers who have received good solid training from their early days in the workforce," he said in an interview in Kuala Lumpur.

Tay said Malaysia must not lag behind in developing managers with the ability to manage global businesses as the world is their market.

He said that in today's rapid moving world in terms of technology, good managers need to be equipped with knowledge in information and communications technology.

"Attributes such as good ethics and values, diversity management and management leadership will prove to be the differentiating factor between good and excellent managers."

MIM, which is celebrating its 40th anniversary this year, has trained more than 340,000 managers. The institute, Tay said, is repositioning itself to remain relevant to today's management requirements.

"We have gone through the agricultural economic phase, the industrial phase and the technology economic phase.

"Now it is knowledge-based economy which is highly driven by development in human capital," said Tay.