Confronting Singular Issues in Singapore’s Toy Sector

Singapore’s toy manufacturing and sales sector is currently witnessing plenty of typical issues that other industries are not facing. Globally recognized as one of the drivers for change, however, the market’s traditional retail channel dependence is a barrier to jump on the e-commerce bandwagon. Also, the seasonal trend in the industry prompts organizations to be skillful in the process of fluctuating levels of inventory. Besides, the implementation of severe safety regulations entails constant expenses of checking, thus diminishing profit margins. In addition to that, likewise, toy traders, like all other e-commerce firms, face the climb in prices of raw materials and talented workers, besides they need to resolve the matter of multi-generational personnel management.

HCM Systems: A Catalyst for Solving Industry Challenges

With the toys industry’s deeply rooted problems, the integration of a Human Capital Management (HCM) system is a large relief. Of course, a proficient HR system can fast-track the conformity with the stringent safety regulations through fool-proof employees who are systematically trained and informed about the latest regulations. These systems too are incorporated with the features that help seasonal labor management like rosters adjustment, scheduling, and controlling labor costs. Sure, it goes without saying that the multiple advantages of this kind of system make HCM systems the must-have. Intelligent roster planning or rostering helps manage variable workforce demands effortlessly, providing firms in Singapore the flexibility needed during peak seasons. Thanks to the changes implemented by firms deals, performance appraisal processes are regularly improved to ensure that staff’s development is in alignment with the competency needs of the industry, thus, increasing the productivity of the whole firm. In addition to that, firms will be able to settle payroll issues efficiently, such as calculations of CPF and long service payment considerations, which will provide a clear pathway to the operational performance being positively enhanced.

Guideline for Successful HCM Implementation

Plenty of efforts and a very well-designed roadmap are the two vital aspects undergirding the successful initiation of an HCM system in Singapore’s toy industry. The general agreement of the stakeholders is undoubtedly the primary requirement, followed by the comprehensive identification of particular needs that will most benefit the firm. Moreover, if there are no problems with the users, who will be running the system, a series of trainings would take place, beginning from the top management, and that would be the base for the successful implementation of the project. Besides, compatibility with the other systems is to be taken into consideration to avoid any disruptions and provide for a seamless integration.

Multiable aiM18 HCM System Highlighted Features & Benefits

Offering unique features, Multiable aiM18 is the ideal choice to meet varied needs in the toy industry:

• Rule-based workflow engine: Ensures efficient and high-level compliance processes, facilitating regulation implementation.

• Intelligent roster planning and local compliance checker: Allows flexible and compliant workforce management, tailored to meet seasonal peaks.

• Powerful payroll engines: Facilitates efficient payroll processing, including CPF and long service payment adjustments.

• Unlimited appraisal forms with flexible appraisal score mechanism: Supports personalized performance evaluations for diverse team dynamics.

• ISO:27001 certified: Guarantees that sensitive personal data is securely handled, providing peace of mind.

Recognition by IRAS and AIS Compliance

The endorsement of the Multiable HCM by the Inland Revenue Authority of Singapore (IRAS) is a strong indicator of its reliability in the local market. The software’s certification as a first-class HRMS under the ‘Category of Software Compliance to Controls’ for the Auto-Inclusion Scheme (AIS) guarantees the compliance readiness of the software, thus, facilitating the utilization of this software for the employment income management with the confidence of the users.

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.