Singapore’s Automotive Industry: Steering Through Uncommon Difficulties

Singapore’s automotive sector is navigating the accelerating road paved with its one-of-a-kind challenges. Different from others, the car manufacturers and dealers are being overwhelmed by the complexity of Vehicle Quota Systems and the harsh environment protection laws. With the car manufacturing city-state being a place with restricted land area, the government lays down strict laws on the permissible number of vehicles. The existing cap creates a rather idiosyncratic challenge, where car firms have to configure their sales paths and craft cars according to the quota, which has variations, and this is not the case with other areas like tech or retail. Aside from that, the focal point of Singapore for a sustainable future makes the automotive sector manufacturers bring in the newest technologies. Electric and hybrid vehicles become obligatory as the automotive industry is ceaselessly pressured to innovate compliant to environment standards. Yet another requirement is that vehicles are to employ the concept of Copious CPF calculations along with the common employment functions that must be integrated into the human resource (HR) systems so that administrative burdens on the automotive employees become severer.

However, the sector is not alone in its struggles. Common struggles are the digital transformation that takes place in all sectors and the globalization that has become an overwhelmingly influential factor. Both of these factors drive the demand for firms to be not only technology-savvy but also to be competitive on a global scale. The automotive field, just like retail store or factory equipment, needs to innovate with high technology and develop a highly skilled workforce to prosper in this digital era. In fact, the ask to optimize workforce and address the conformity with international norms reverberates across various industries; it highlights the necessity of viewing the workforce as a whole.

HCM Systems as a Strategic Component in Solving Challenges faced by the Sector

The Human Capital Management (HCM) systems appear to be a solution that really addresses the automotive sector pressures caused by their unique and shared challenges. The HRMS software that is streamlined becomes the tool that enables firms to automate their day-to-day processes and redirect their resources towards higher-level initiatives through the software that is streamlined.
Automotive champions, with an effective HR system, can easily bypass the regulatory challenges in Singapore to ensure compliance with local laws and CPF regulations. Moreover, the HCM systems are a good choice for the planning of shifts and changing operational activities that are due to the fluctuations in Vehicle Quota Systems.

Furthermore, performance evaluation and talent development become easier and more transparent with competent HRIS platforms. The car manufacturing firms that succeed in the implementation of HCM can reach not only their employees’ maximum potential but also the innovation of the ecological industry globally while being without the additional staff burden. Along with the new ways of reaching objectives at low costs like decreased management costs, the approaches mentioned above make way for firms to be flexible in their structures and therefore achieve more sustainability.

Essential Steps for Successful HCM Deployment

Errorless implementation of a Human Capital Management (HCM) system would undoubtedly necessitate unblemished plans and strategies. One of the main factors of success is to have the top management support and the definition of proper objectives at the same time that are in harmony with course aims. Whereas the bespoke configuration is an important aspect to be able to integrate existing operations like payroll and employee rostering, it is the greatest hurdle. Continued staff involvement with the communication of genuine information related to the implementation process will be instrumental in attaining a smooth transition. Finally, the deployment of various training programs should be done to allow employees to have the knowledge and skills that they need to use the HRMS software to its max.

Paramount Features of Multiable HCM to Meet the Automotive Sector Issues

Multiable’s aiM18 HCM system is an answer to target these tough areas through the five unique characteristics:

• Rule-based workflow engine: Helps to simplify HR processes and assure compliance with Singapore’s regulations without a hitch.

• Fully customized payroll formula: Reduces the requirement for customization by over 90%, skillfully managing the complication of CPF calculations and long-service payments.

• Intelligent roster planning: Offers flexible scheduling to accommodate daily changes in manpower allocation initiated by Vehicle Quota Systems.

• Unlimited appraisal forms: Paves the way for tailored performance appraisal systems that allow the development of talent addressing the industry’s future needs.

• Robust payroll engines: The system processes millions of calculations in a fraction of a second, allowing undisrupted HR activities even with the adjustments on the retrospective pay.

Recognition in Meeting Compliance Standards

Multiable HCM discloses its strength by being acclaimed by IRAS. It ranks among the best HRMS software under the Auto-Inclusion Scheme (AIS) for Employment Income. This approval highlights its competence in dealing with the tough and strict compliance regulations which is a great help for the automotive sector in Singapore to achieve fiscal accuracy and HR flexibility.

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.