Globally, SMEs play a crucial role in national economies by providing jobs and services with added value and by contributing to overall innovation

Globally, SMEs play a crucial role in national economies by providing jobs and services with added value and by contributing to overall innovation. In Malaysia, small and medium-sized enterprises (SMEs) constitute 98.5% of all businesses. SMBs generate employment possibilities throughout industries and the nation, employing all parts of the labor market, including low-skilled employees. Despite accounting for a significant portion of worldwide employment (48.4 percent of total employment), SMEs continue to encounter significant obstacles when it comes to the quality of their workforce in terms of achieving the intended output of their organizations. (Source: DOSM’s Small and Medium Enterprise (SME) Performance 2019).

Assuming that you are the Human Resource Manager of a SME, you are needed to address the factors that lead to the low productivity of SMEs and the initiatives that can help these SME’s increase their productivity from a learning and development standpoint. Comment on how SMEs in Malaysia may cultivate and retain qualified personnel.

Kindly please elaborate on this question and answer in detail with long paragraphs for me together with references, thanks.