Overcoming Specific Difficulties in Cosmetics Industry of Singapore

Bursting with life, the background of the cosmetics industry in Singapore has got its local firms to face various unique difficulties that are very different from other sectors. These obstacles faced by the sector are the quite typical ones that differentiate them from the rest of the sectors. Yet still, tech offers a hand of help. What more, technology has been a driver of these changes which is the reason for such a massive transformation. Actually, the integration of Human Capital Management (HCM) systems has become the reason for these firms to not only to tackle the challenges of high complexity but also to do this in a more effective way and with a better precision.

The Cosmetics Sector’s Unique and Cross-Industry Challenges

Singapore cosmetics sector is faced with problems that are rare in other sectors. The rapid speed of fashion trends makes the demand of very short product development cycles, forcing manufacturers to adopt flexible production and distribution methods. Stiff rules concerning ingredient safety and product labeling create specific operational hurdles for the firms.

Moreover, the issues of sustainability and ethical sourcing are steadily gaining priority due to consumers’ demand for more transparency. Such specific requirements entail i) a higher level of traceability and ii) compliance measures that are rarely found in other industries.

Notwithstanding, there are challenges that the cosmetics sector faces too, which are common in other segments. The recruitment and retention of skilled workers remains a major concern for all industries, just as it is in the case of the efficient HR and payroll management. Furthermore, CPF compliance carries on being an administrative unclear issue, as it needs meticulous care.

Marry the Challenges with HCM Systems

Through the integration of an HCM system, firms can really ease the pain caused by the industry problems. By automating HR functions, a Human Capital Management system solves the industry’s looming issue of talent acquisition through efficient recruitment and onboarding. Notably, it also deals with complex payroll requirement tracking and management thus ensuring that CPF contributions are done correctly.

Moreover, the very existence of the organization that is able to do real-time data analysis and reporting gives them the capability to analyze workforce’s efficiency and performance trends and this in turn provides various insights. This precision will help in developing measures that support the organization in achieving increasing business objectives.

The use of HCM systems increases agility for sure because they free the automation of repetitive HR processes. This automation makes it possible to get rid of unproductive costs, which allows human capital to be used for such activities as product design and ethical sourcing compliance which are more important.

Key Steps To Successful HCM System Implementation

The success of HCM system implementation genuinely depends on the following essential steps. To start with, the configuration of system capabilities to organizational needs is a priority which assures that the HR system is scalable and modular. Training people to get well-acquainted with the HR system so that they can use it adequately is very important. In addition, fostering a culture of acceptance and adaptation ensures the entire workforce transitions smoothly to a digital HRMS.

Technical Details of Multiable’s aiM18 HCM System

Multiable’s aiM18 HCM system which has been programmed for the specific needs of the cosmetics industry contains a number of features:

• Rule-based Workflow Engine: Automates HR processes, thus, enhances operational efficiency across divisions.

• Fully Customizable Payroll Formula: Diminishes the need for customization by more than 90%, assuring the correctness of payroll management.

• Intelligent Roster Planning: It involves both compliance and strategic rostering which is beneficial for optimal workforce deployment.

• Local Compliance Checker: Gets rid of the worries about labor laws and regulatory requirements in respect to Singapore.

• Powerful Payroll Engines: Helps in quick running of extensive payroll calculations thereby helping timely and precise CPF submissions.

Accomplished and Approved in the Island’s Regulatory Framework

Multiable HCM has been admitted and acknowledged as a quality HRMS software recognized by Singapore’s Inland Revenue Authority (IRAS) under the Auto-Inclusion Scheme (AIS) for Employment Income.stats a ratio. It was under the sponsorship of the scheme for software compliance which offers good solutions for local payroll and long service payment processing sound compliance and trust.

What is Multiable HCM?

Multiable HCM is a cloud-native HCM (aka HRMS, HRIS or HR system). With over 6,000 customers, Multiable HCM gains positive feedbacks from customer across different sectors, from manufacturers, distributors, retailers, service providers to NGOs. The renowned no-code approach saves customer a big sum of customization costs and countless hours of implementation man-days.

What is LAIDFU (Let AI Do for You)?

LAIDFU is an AI tool for enterprise to build their own AI agents to perform various business AI tasks.

Proprietary EKP (Enterprise Knowledge Partitioning) technology eases CEO’s concern about trade secret leakage which often occurs in most AI agents / chatbots in the market.

EKP removes the hurdle of business AI adoption by most companies in using sensitive corporate data.

Powered by no-code approach, deployment of LAIDFU incurs far less developers (and development costs) in comparison with other AI tools.

LAIDFU empowers business, with or without an HCM system in place.