The Struggles in Singapore’s Toy Sector

Similarly to other sectors, the toy industry in Singapore has its own specific difficulties. Firstly, the fast-tracking of technology means that toys must be in constant innovation to be able to compete and attract the young digital-native generation. Therefore, this pressure makes it very hard for the Singaporean toy firm manufacturers to win the persistent competition of adding the required technologies while keeping the safety standards. Secondly, the industry’s dependence on the seasonal demand may bring about varying sales, thus constraint inventory management. In addition, the very strict and tough safety standards arising out of a temptation to the process of gaining profit are another contributing factor to the inventory management. Though these struggles are typical for the toy industry, they are also the same as those found in other sectors like a shortage of skilled workers and increasing operation costs. These necessary, however, common challenges have to be addressed efficiently with the use of strategic approaches making operations better and less complicated.

Using HCM Systems to Solve Problems

The toy manufacturing sector can take advantage of the properly set-in Human Capital Management (HCM) sysytems in order to overcome these problems. Indeed, HCM systems like Multiable’s aiM18 are not only the solution to this but also they are robust, AI-supported and comprehensive applications that cut across many HR activities. Through this type of programm, Toys Singapore firms are enabled to seasonally hire and return only those staff who are not required in the first place, therefore having the right people at the right place and time. Certainly, this will be especially helpful for the roster and payroll management, which are both the foundations of operational efficiency.

HCM systems also help to maintain discipline and adherence to local labor laws that may arise given the rigid toys safety and manufacturing regulations. They provide intelligent roster planning and labor practices local compliance checker, which procure synchrony between all labor practices and Singaporean legal requirements. Furthermore, the strong payroll engine makes complicated payroll calculations easy thus guaranteeing accurate financial management. Ultimately, streamlined operations and higher productivity stand a chance to enable toy firms to focus on product innovation and engaging the customers. Besides, effecting an HCM system also takes care of the commonly troubled issue of talent management. The perspective of HR is to attract, keep, and develop talent through state-of-the-art performance evaluation techniques; this is allowing businesses to have a workforce that is highly proficient, sparking growth.

How to Implement HCM Successfully

For toy-making enterprises in Singapore to leverage the merits, successful implementation of an HCM system is a must. It is best to perform a comprehensive needs analysis which will lead to the discovery of the organization’s challenges and after which the HRMS software will be aligned with these challenges and the strategic goals. A pivotal step in achieving the goal is training—making sure that the users, no matter the level they are at, receive a full-scale training to fully use the system’s features and functionalities. Moreover, firms should also go for involving the stakeholders of different departments within the organization, that way the HRIS is tailored to meet the needs across the whole organization.

Multiable’s aiM18 HCM System Main Characteristics

The Multiable aiM18 HCM system includes so many great features that it will make a big difference to the toys industry in Singapore:

• Rule-based Workflow Engine: Cuts the processing times through automation and tackles the manual work intervention living.

• AI-Ready and Fully Customizable: This feature of the system allows it to be adaptable, thus fostering both capability and innovation.

• Intelligent Roster Planning: Positions labor the way the business requires it thus optimizing staff levels.

• Local Compliance Checker: Guarantees the people are following the local law governing labor issues without a hitch.

• Unlimited Dimensions of Headcount: This offers a way of flexibility which allows the adjustment of the headcount to be according to the variations in business activity.<

IRAS Approval and AIS Compliance

The endorsement of Multiable HCM by the Inland Revenue Authority of Singapore (IRAS) is the proof of its quality which is a title of excellence having been described as the top-notch application in the ‘Category of Software Compliance to Controls’ included in the Auto-Inclusion Scheme (AIS) for Employment Income. The endorsement marks the trust that the system is capable of handling the essential functions of HR such as payroll and CPF calculations hence, it is an invaluable tool for toy manufacturers who seek operational efficiency.

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.