Singapore’s pharmaceutical industry is grappling with a plethora of challenges. However, for the firms to see these challenges through, they need to come up with creative solutions. The point is, having the knowledge of an advanced Human Capital Management (HCM) system is a must for the process of operations transformation.

What Makes the Pharmaceutical Industry Face Special Problems?

The pharmaceutical sector in Singapore is affected by the country’s very rigid regulations that people have to comply with, which in turn require careful tracking of the drug development processes. Another issues is the question of intellectual property protection, it is found less in other areas. The prevalence of high research and development expenses and the instability of the market have made the fiscal difficulty of pharmaceutical firms unique.

In addition to these challenges, talent retention and workforce management are difficulties that are common in all industries including pharmaceuticals. They (pharmaceutical firms and employees) both need the strategic planning skills; dynamic strategies for efficient bystanders and performance appraisal for employees to be productive but they have to obey government laws like contributions of boards of CPF.

Why is HCM Important in Tackling These Problems?

HCM that is advanced helps with regulatory compliance by automating documentation and tracking. Moreover, this solution allows you to gain control over the medium for the future. Robust rostering and performance appraisal systems that can be deployed in heft operation settings and improve the regional pharmaceutical industry are the strengths of this programmer. In fact, the right system can reduce the impact of market volatility and help with financial management.

The flexibility of an intelligent HR system‘s is not only to meet the needs of the business operations, but also to maintain the professional development of human resources. This makes sure that employees have the latest training and knowledge on topics that are essential to maintaining competitive edge for the industry in Singapore and elsewhere.

Advantages for Successful Implementation of HCM

The real HCM implementation is a deep commitment from every organizational level. Suffice it to say, stakeholder participation along with the correct training is the key to allaying the integration process. The way the internal communication channels work out the adaptation phase, is another thing, since it is a two-way process which entails both encouragement for feedback and iterative improvements.

Which Unique Aspects of Multiable HCM System Are Helping These Problems?

• Rule-based Workflow Engine: existing audit trails get unionized.

• Intelligent Roster Planning: the schedule gets the best allocation.

• Fully Customized Payroll Formula: fewer payroll errors are the outcome.

• Department/Position Sensitive Appraisal: improved performance appraisal ratios.

• ISO:27001 Certified: strong encryption is used to protect critical personal data.

Extrospective Support for Singapore Concerns

aiM18 HCM is e-MPF approved and assists with the effort of generating MPF and IRD compliant documents. It is worth emphasizing that the granted ability keeps firms perfectly in line with the regulatory norms of Singapore’s ever-moving market.

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.