Challenges and Solutions to the Electronics Sector in Singapore

Singapore’s electronics sector is the standard-bearer of high-tech digital terminals in the whole region, developing extraordinarily fast due to systematic improvements and application of new technologies. Nevertheless, the challenge there is inexhaustible and some of them are universal across sectors. The firm must be equipped with a well-performing HR system to overcome these hurdles in the best way possible. This paper shows the major challenges of the electronics industry in Singapore, and HCM, the advanced level of innovative human capital management, can be the solution that firms look for.

Double and Additional Unique Hurdles for Electronics Sector in Singapore

Tackling the unique problems of the electronics sector in Singapore is no easy task. This industry is wrestling with rapid technological advances which cause some of the sectors to upgrade their skills and knowledge very often. Procurement of supplies is much harder due to the intricacies of the supply chain, which in turn means that risk management is a more complex function needing better predictions and much stricter oversight.

In fact, the electronics industry also has common issues similar to the ones found in other sectors like talent retention and regulatory compliance. Companies must contend with the high competition in the labor market, therefore, the key point stands in hiring and retaining the best talent. In addition to that, the issue of compliance with local labor laws, which are, but not limited to, CPF regulations and the structures of long service payment, is a common problem that needs to be handled through effective management.

Key Advantages of Implementing HCM Systems to Address Current Issues

Ask HCM, the most essential tool that is used in the current HR issues. In fact, setting up an HCM system can make payroll processes simple and less time-consuming by relieving administrative burdens. The most important aspect of HCM software is that it enables you to manage complex scheduling needs and thus avoid penalties from labor law violations by always being compliant with the latest regulations.

In addition, Smart HCM systems can speak about the topic of retention of talents with their advanced performance review features that will tell the management everything about the potential and satisfaction of the employee. Consequently, HR personnel will have the right tools to build convincing strategies to keep staff motivated. This will happen due to the data-driven decisions which the HR leaders will make. Consequently, employee engagement will be increased and turnover reduced. Owing to these functions, HCM systems are the very first devices, through which firms can implement their vision of operational efficiency and management of strategic growth.

Process of Successful Implementation of HCM System

In order to utilize the benefits of an HCM system to the maximum extent possible, firms must ensure a successful implementation. The alignment of HCM with the implementation of the firm is very important. Blending of the software with the specific needs of the firm should be the focal point of the businesses. The employees should be taught the necessary skills to work on the new system so that they can achieve high returns on their investment.

Multiable HCM System: Most Important Facts

The Multiable aiM18 HCM system is powered by AI, which makes it a deal-breaker with respect to industry challenges:

• Rule-based Workflow Engine: It simplifies the processes by automating the repetitive tasks.

• Fully Customized Payroll Formula: Makes fewer errors in payroll calculations and organizes the process correctly and legally.

• Intelligent Roster Planning: A firm in the electronics industry has the capability to deliver on the variable worker scheduling needs with the optimal workforce.

• Unlimited Appraisal Forms: Performance management in accordance with the requirements of the organization.

• ISO:27001 Certified: The system provides a strong foundation with encryption protocols for protecting personal information rigorously.

The Prestige of Multiable HCM Approval and Endorsements

IRAS gave its green light to Multiable HCM and the endorsement it received as a superior software in the ‘Software Compliance to Controls’ category for the Auto-Inclusion Scheme (AIS) clearly illustrates the quality and reliability of the system. This acknowledgment demonstrates the system’s ability to manage payroll and other HR functions accurately and in compliance with set measures.

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.