Tackling Obstacles in Property Management of Singapore

The property management sector in Singapore is still one of the key driving forces of the country’s economy despite the obstacles it is facing, yet it remains a distinctive part of the property management industry of Singapore. The property management industry in Singapore is undergoing rapid changes due to the urbanization caused by the residential and commercial sectors. Owing to the geographical constraints and high-density urban planning, the property management industry in Singapore contends with distinct challenges. Urban sprawl introduces complications of the property lifecycle management process, thus, requiring perfect syndicate courses of action on maintenance and tenant management. Besides, the advent of new technologies calls for the introduction of new systems whereas local compliance standards have to be followed. However, the metric that is the foremost, tenant satisfaction is the absolute prerequisite for proper decision-making and that requires the practice of discretion and scrupulousness.

Other than these peculiar problems, property management players in Singapore also have to wrestle with concerns that pervade all sectors. The most notorious is the talents retention and acquisition which is not an exception at a competitive labor market level, there is high demand for talented workers across sectors. To add to that, proper handling of payroll remains the most universal problem for the firms that are looking to cut costs and increase accuracy in the payroll process with complex issues like CPF deductions and long service payments.

Contribution of Human Capital Management Systems to the Solutions in the Sector

To foster the onboard of such assorted hurdles one requires an HRMS or HCM program, which has a central role in the management of all business operations. On top of that, HCM systems help in dealing with the exclusive challenges of the property sector by providing a single point of contact to the property lifecycle management and tenant issues. Technology is not stagnant, so the integration of a modern HR system was necessary for the compliance of local laws, therefore, it had the effect of raising operational efficiency.

For more typical problems like payroll management, the contemporary HRIS systems like Multiable aiM18 are the real game-changers. They provide high-performance payroll engines that can process millions of unique salary formulas resulting in fewer errors and compliance worries. Together with that, the HCM system tackles the issue of the talent retention problem in a way as to give data analytics for the performance appraisal processes, thus, linking the employee goals and the corporate objectives.

Definitely, the success of implementing an HCM system can be very beneficial. It assembles the human resources functions under one roof, automating most tasks and thus allowing property managing firms to concentrate on essential operations. Hence, the implementation of an advanced HRMS software signifies the transmutation of hurdles into assets, therefore it is a paramount investment for the business.

Steps to HCM System Implementation

It is evident that the operation of an HCM system is full of intricacies. Companies are required to pursue a customized way and that is to get the system tailored to their business’ particular needs. This will also ask for thorough training of the employees for them to be able to use the system optimally and to make the onboarding process smooth. Effective Communication across all levels of the organization is a key to managing change.

In addition, by selecting a scalable HRMS, the firm ensures the software will be able to grow alongside it whilst accommodating for increases in complexity and future expansions. Another critical factor of success is the strategic alignment of HR functions with corporate goals, which promotes seamless integration and cohesive workforce management.

Technical Features of the Multiable aiM18 HCM to Solve Industry Challenges

Multiable aiM18’s characteristics that set it apart as a unique software solution for the issues related to the property management industry of Singapore:

• Rule-Based Workflow Engine: Facilitates seamless coordination in property management operations, enhancing efficiency and reducing manual errors.

• Intelligent Roster Planning and Local Compliance Checker: Ensures compliance with local regulations, which is vital for smooth operational processes.

• Fully Customized Payroll Formula: Minimizes risks associated with payroll customization, ensuring precise long service payment calculations.

• Unlimited Appraisal Forms: Enables flexible performance appraisal processes aligned with employee retention strategies.

• Powerful Payroll Engines: Executes complex payroll calculations efficiently, ensuring timely CPF contributions and accurate payroll processing.

Validation by IRAS: Multiable’s HCM System Compliance

Multiable HCM‘s endorsement by the Inland Revenue Authority of Singapore (IRAS) marks a testament to its credibility. Being classified as top-grade in the ‘Category of Software Compliance to Controls’ within the Auto-Inclusion Scheme for Employment Income illustrates the system’s adherence to Singapore’s stringent compliance standards. This positions Multiable as a trustworthy partner for property management enterprises aiming to maintain regulatory compliance while optimizing HR functions.

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.