Tackling the Challenges of the Pharmaceutical Industry in Singapore via HCM Systems

Now, Singapore’s pharmaceutical industry is going through a revolutionary era characterized by both specific challenges and opportunities that have never been encountered before. As the brain of health technology, drug manufacturers experience a specific set of challenges that no other industry has to deal with. Owing to complex waters wherein firms have to contend with the government’s tinkering; they face technical problems and make decisions based on the market’s need for new products. The sea of problems is navigated by reliance on cutting-edge technologies, including HCM systems that can act as a lifeline.

Main Problems Experienced by the Pharmaceutical Sector in Singapore

The pharmaceutical sector is struggling with challenges that are exclusive to its area of expertise in Singapore. Staying with the latest scientific standards poses a considerable obstacle, as the industry has to root out any unethical or unscientific issues regarding products. The detailed regulations put on firms operating in this area have led to the addition of compliance-related issues that should be included in their personnel management system. The requirement of human capital with very high-level skills leads to the talent shortage which is yet another pain point that firms face when it comes to recruitment. Besides that, the growth of the scientific field is so impressive that employees have to undertake continuous education, which means facilities like HRMS are under the pressure of providing them the necessary training and learning. In spite of all these, the issues of mortality rates, employee retention, and workforce diversity are like those in other sectors such as IT and finance, among many others, facing the same.

The Use of HCM Systems for Problem-Solving

The implementation of a highly effective software for people management will solve many of these issues within the firms dealing with medicines. At the same time, the presence of the comprehensive HR software with integrated solution capabilities makes the work processes more efficient. The application of specialized HCM software ensures that the firm abides by the local regulations, which, in turn, helps to mitigate any related legal issues. It provides an automated system for payroll processing that makes it easy for the firm to calculate CPF contributions along with other remuneration aspects. A performance appraisal system is deployed to develop team skills in a way that the scientific sector remains at the cutting edge. For example, the HRMS software can manage the scheduling of staff efficiently by employing artificial intelligence, consequently, improving the operational workflow.

Ways to Ensure Good HCM Implementation

It is a given that, to put in place an HCM or HRIS, careful planning and execution are the things that need to be done first. Companies ought to lay the foundation on a clear perception of their strategic HR objectives in order to align the functionalities of the HRMS software. Training courses along with the constant feedback from employees regarding the working of the software are very important in familiarizing them with the new HR system. Assigning a cross-functional team a mandate to run the implementation helps to integrate the system smoothly, and ensures flexibility across the various departments.

Special Features of Multiable HCM System for Pharma Companies

• Rule-based Workflow Engine: Simplifies Operations

Drive high performance with automated operations by the workflow engine that is rule-based.

• A.I.-Ready: Elevates Predictive Analytics

Go for artificial intelligence in lining up and managing employees to foster making decisions based on facts.

• Intelligent Roster Planning: Enhances Efficiency

Allocate staff smartly, thus people being in the right place with the right skills at the right time.

• Powerful Payroll Engines: Boosts Accuracy

Quickly and accurately do the payroll calculations ensuring compliance with CPF and other regulations.

• Unlimited Appraisal Forms: Customizes Employee Growth

Utilize unique performance appraisal forms tailored to the diverse needs of your various talents.

Recognition of Multiable HCM by IRAS in Singapore

Multiable HCM is a true icon among all the HR systems being featured due to its approval from the Singapore’s Inland Revenue Authority (IRAS) as well as being certified as the best HR system under the Auto-Inclusion Scheme (AIS) for Employment Income. The endorsement of this software is a manifestation of its high compliance to the controls of the software asserting its reliability in payroll and other HR processes.

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.