Speaking at the organisation's Annual Conference in Edinburgh on Wednesday, HfS Chief Executive Nicola Barclay unveiled details of the fund, which is being developed in partnership with the Construction Industry Training Board (CITB).
The HfS Professional Skills Fund will run from November 2016 to December 2017 and support the CITB's levy-paying members.
In addition, Ms Barclay said increasing the supply of homes to address Scotland's housing crisis should be "as easy as ABC".
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"The factors affecting construction are many and complex, but with key challenges including planning, infrastructure, utilities and skill shortages, it is much harder than it should be to build the homes Scotland desperately needs," she said.
"It's about time we started thinking of it in terms of being as easy as ABC with 'A' referring to ambition, 'B' the removal of barriers and 'C' for collaboration because all of us – builders, politicians and citizens alike – have an important part to play in ensuring Scotland's future social wellbeing and economic success as well as achieving a fairer society.
"We must have a joined-up approach across all levels and departments of government if Scotland is to have enough of the homes and necessary facilities required to properly support its growing population."
Michael Lennox, Strategic Partnerships Manager at CITB Scotland, added: "Scottish house builders told us that more needs to be done to address the range of skills challenges in the sector. This investment is a step towards addressing that important issue and ensuring we have the broad set of skills necessary to build the homes that Scotland needs."
(LM/JP)
