Despite being one of the fastest-growing industries in Singapore, the biotech sector has its own challenges which requires to be solved through innovative human capital management solutions. The HR software like Multiable’s aiM18 that is at the forefront of technology offers comprehensive benefits for the resolution of these issues and also optimizes the process as well as regulatory compliance.

What Unique Challenges Do Biotech Companies Face?

Unlike many sectors, biotech firms in Singapore confront sky-high R&D expenditures and severe regulatory approval procedures. Additionally, the industry is faced with intellectual property challenges, which call for strong security protocols. Hence, covering these issues, effective HR management is a need.

Likewise, Singapore’s biotech firms encounter common problems with other industries such as recruitment and retention of talent, and managing compliance with CPF regulations. Notably, these issues demand a structured HCM solution so that operations can be carried out smoothly.

Why Is an HCM System Critical for Biotech in Singapore?

The HCM system is capable of delivering payroll, long service payment, and rostering features comprehensively to operational efficiency. By using AI-based HRMS software, firms are empowered to simplify their activities. All the same, robust HCM software ensures adherence to local regulatory requirements and HRIS accuracy.

The inclusion of an e-MPF approved HCM is a way of dealing with CPF documents efficiently.

Moreover, it functions by increasing the employees’ participation in the performance appraisal systems which are more effective. The aiM18 HR system, as a whole, adds up to the setting of a creative work environment.

Guideline for Successful HCM Implementation

A successful HCM system introduction depends on the meticulous planning of the implementation and the accomplishment of organizational goals. This should be coupled with the involvement of stakeholders in the training that is conducive to the proper utilization of the system. The HRMS becomes an essential part of the organizational culture and a tricolor only after the stakeholders are committed to it.

What Are the Key Features of Multiable aiM18 HCM System?

• Rule-based workflow engine: Effective resource utilization and minimization of duplication.

• A.I. ready and fully customizable: Best for firm specifications.

• Intelligent roster planning and local compliance checker: Scheduling becomes easy and compliance is assured.

• Powerful payroll engines: Assures the maintenance of payroll with enhanced efficiency.

• Flexible appraisal score mechanism: Simplifies the performance appraisal process.

How Does aiM18 HCM Address Compliance Needs?

aiM18 HCM is e-MPF approved and is thus directly integrated with Singapore’s MPF and IRD documentation systems. The result is huge, as it relieves the compliance issues thus making possible the easy CPF handling, thereby supporting the local biotech sector.

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.