Chief Minister Datuk Seri Musa Aman, who came up with the idea, said for the employees this proposed institution would serve as a platform to discover career opportunities and access to relevant training to help them stay employable and progress in their careers.
As for the employers, it could be a place for them to meet manpower needs.
For job seekers, it would be a place to seek career opportunities.
"This institution can serve as a onestop centre that integrates career coaching, training, assessment, career services and development," said Musa when officiating at the Sabah Development Corridor (SDC) Innovation Public Forum jointly organised by the Institute For Development Studies (Sabah) and Sabah Economic Development and Investment Authority (Sedia) at Le Meridien, Monday.
Musa, who is also State Finance Minister and Sedia Chairman, said there is a need for a re-look at "the way we view our human capital, away from the narrow perspective of economic lenses as an asset to be consumed, maximised and used."
"It is timely that the assessments of a nation's growth not only focused on the country's Gross Domestic Product (GDP) but take into account the human capital side…human capital is one of the most pertinent assets of a country and crucial for successful development planning," he said.
He also supported the view highlighted at the World Economic Forum that the key for the future of any country and institution are in the talent, skills and capabilities of people.
" Overall, in Malaysia and Sabah, there has been an increase in demand within the employment market.
However the supply of workforce has not been able to accommodate specific demands. Sabah produces 8,000 skilled graduates annually but there will be demand for 24,000 more workers within the next six years," said Musa.
The gap between demand and supply for skilled labour is widening and it would be unwise for us to rely heavily on foreign workers to meet this demand, he added.
He said Prime Minister Datuk Seri Najib Tun Razak recently touched on the "opportunity deficit" many young people face in the current job market saying youths do not see the opportunities in themselves and the stake they have in the nation's future.