Overcoming Challenges and Solutions to the Property Management Industry in Singapore

Singapore’s property management sector is characterized by challenges that are unique and distinctly different from those in other industries. The professionals in this sector are charged with the responsibilities of adapting to the changing tenants’ expectations, as well as seeking solutions to the multitudes of compliance issues they face. In addition, they are equally burdened with normal industry difficulties such as the necessity to go digital and the knotty issue of staffing. In fact, innovative technology- especially the Human Capital Management (HCM) systems-is instrumental in resolving these difficulties.

Unique and Common Challenges of Property Management

The responsibility for the management of large facilities and for building tenant relationships is something that no other sector has. The constant request for property repairs, coupled with timely communication with tenants, are major demerits that this field faces, unlike any other sector. Moreover, the particular regulations and rules that property transactions and construction works have to comply with are a challenge to this industry in Singapore.

Conversely, property management is an industry that has some challenges in common with others. One of the integral parts of the technological transformation in the property management field is the use of technology to increase productivity, which is usually difficult because of perceived complexities. Furthermore, the issue of workforce management in terms of rostering and payroll processing requires careful handling to achieve the desired level across all sectors. Certainly, the complexity of CPF contributions and other kind of compliance variables is another burden for firms.

Maximizing Human Capital Management System to Beat Problems

Introducing a scalable HCM system allows the firm to realize those benefits strategically. A specific HCM solution may finish up the handling of property management activities by automatically taking care of the regularly carried out manual administrative operations, thus liberating staff to concentrate on value-added services. The application of top-notch HRMS software enables rental management professionals in Singapore to improve human resource management through enhanced payroll systems and accurate rostering.

Moreover, the HCM system aids the property management sector in becoming agile and quick in coping with the ongoing changes. For example, with smart performance evaluation schemes, firms in the sector can recognize and promote talent, as well as synchronize employees’ aspirations with the firm’s vision. Besides, the deployment of the HRIS solutions makes it possible for the employees to communicate openly thus increasing morale and subsequently ensuring a high degree of tenant satisfaction and service quality.

What Should be Done for Better HCM Implementation

To get the most benefits from the implementation of an HCM system, firms must have a strategic plan. The first step to take is to conduct comprehensive needs assessments that will target the areas where the HRMS will have the biggest effects. The development of a well-strategized roadmap and timeline will ensure the continuous progress of the project and also minimize the risks involved. Participation of all the stakeholders in the implementation process enhances their acceptance and thus makes it easier for the project to move smoothly.

Likewise, the provision of in-depth training sessions empowers the employees with the needed skills to maximize the use of the HR system. As a result of this all-inclusive and thorough method, the organizations start to see visible changes including the optimized operations and the improved employee satisfaction.

Essential Features of Multiable aiM18 HCM System for Property Management

• Rule-based Workflow Engine: Automates the processes, hence reducing the administrative burden and increasing efficiency.

• Fully Customizable Payroll Formula: Helps in virtually eliminating payroll-related customizations while ensuring accurate calculations of long service payments.

• Intelligent Roster Planning: Facilitates effective workforce management with localized compliance checks in Singapore.

• Powerful Payroll Engines: Handles 1.2 million payroll formulas, and ensures fast processing with retrospective calculations.

• Unlimited Dimensions of Headcount: Flexible in managing different types of employees who may be needed during certain periods of time.

IRAS Approval: Recognition of Top Quality

Multiable HCM attained the IRAS approval, which is observed in the High-Quality Software endorsement under the ‘Category of Software Compliance to Controls’ in the box of Auto-Inclusion Scheme (AIS) for Employment Income. This achievement is a true pointer to its reliance, and conformity to the regulatory standards for Singapore, thereby making its way to the efficient payroll management as a foundational tool.

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.