Revitalizing Indonesian Migrant Workers: Empowering Human Capital and Financial Independence

Abstract

The financial management activities for Indonesian Migrant Workers (IMW) hold significant importance in addressing effective financial management challenges. IMWs' adaptation to information technology is crucial in managing finances effectively, with IT-based financial applications serving as an effective solution for them. Economic self-reliance also becomes a vital focus when IMWs return to their homeland after working abroad. Basic financial training plays a key role in preparing IMWs to reintegrate into their local environment or start their businesses after their stint as IMWs.Understanding basic financial reporting is also critical for Micro, Small, and Medium Enterprises (MSMEs), aiding them in understanding the financial health of their business and accessing funding more effectively. Previous studies show that regular financial reporting strengthens investor confidence, aids long-term business planning, and minimizes financial risks. To address these issues, an International Community Service Activity in Malaysia has been conducted. Through collaboration with universities and the Indonesian Embassy, this activity provided training and socialization on finance and MSMEs. IMWs participating in this activity showed enthusiastic responses to financial reporting training. The evaluation of this activity indicates that the contributions from IMWs, academic communities, and the Indonesian Embassy played a crucial role in designing and executing the program. Positive feedback from IMWs and the Indonesian Embassy highlights the benefits and enthusiasm for this program. The outcomes of this activity align with previous research on enhancing skills and independence for IMWs in financial reporting, preparing them for better prospects upon returning home. This activity provides practical insights for IMWs and MSMEs to understand and manage finances effectively. Thus, this activity has made a positive contribution to IMWs and MSMEs, emphasizing success in providing necessary training and a better understanding of basic financial management. Recommendations for the future involve enhancing collaboration and coordinating sustainable programs.