The Attractive Characteristics of Singapore’s Chemical Industry

Singapore’s chemical industry is viewed as one of the main brands in the economy of the country, being one of the biggest contributors to the GDP. On the other hand, this very industry has to deal with many challenges that need to be solved in an innovative way. Very much, unlike any other industry, the chemical industry has to face environmental issues, technological disruptions, and health & safety regulations that are very complicated to deal with. Adopting environmentally favorable practices frequently requires the industry to make changes continuously to rules and technology. Unlike other sectors, fast-changing technology requires always ready and, sometimes, completely different solutions from the firms involved.

Besides these particular challenges, the chemical industry has several of the same difficulties as other sectors. Labor shortages are one of the critical factors, therefore, firms have had recourse to creativity and new ways in their hiring and retention policies. Not forgetting the issue of the very high cost of living that the country is faced with, a firm has to find a way to deal with payroll managing and long service payments as well. Furthermore, the whole process of digital transformation is a common necessity that leads both to growth and complexity.

The Role of an HCM System in Overcoming Challenges

A solid Human Capital Management (HCM) system like Multiable’s aiM18 is a good way out of these problems. Owing to the HCM systems, which streamline the operations, organizations are capable of making it through the regulatory and technological hurdles better. Because of the chemical industry’s complicated compliance needs, a rule-based workflow engine ensures adherence to environmental and safety standards without compromising operational efficiency.

The Singaporean market, which is a melting pot of local and foreign labor, stands to gain from HR systems that support the Intelligent Rostering concept. The technological advantage this introduces tackles the labor shortage issue by the optimized workforce management. Just to mention, these solutions considerably cut operational costs while leaving the employees with a high level of satisfaction.

Moreover, the introduction of the AI-powered software has gone hand in glove with increased customization. The firms are free to work out the formulas for payroll that will hugely benefit the people who are in the workforce. This feature, together with CPF compliance, would reduce the time spent on payroll calculations and would ensure a high level of accuracy for the long service payments. It goes without saying that organizations which use these tools work out a culture of innovation and efficiency.

Principles of the Successful HCM Implementation

The successful HCM implementation depends on the compliance with several guidelines. At the outset, clear objectives aligned to business strategy must be set. Each business house is obligated to involve all stakeholders at both the top and the bottom of the hierarchy so that the HRMS software is seamlessly absorbed into the existing work process. Constant training, and the creation of feedback loops are important for the system, to adapt to the changes that come.

Moreover, managing change with sensitivity to the firm culture is paramount. Drives change with continued support, improvements made actively based on user input, which, in turn, will be enhanced tools, and utility will help embed acceptance across the organization.

Multiable aiM18 HCM System Core Features

• Rule-based workflow engine: Automates regulatory processes by minimizing compliance risks in the chemical sector.

• Intelligent roster planning: Optimizes the management of EU workforce to deal with labor shortages and to harvest profits of productivity.

• Fully customized payroll formula: Achieves effective payroll management which saves costs for the long service payments.

• Interface for tailored labor law compliance: Provides agility in adjusting to the changing regulatory environment in Singapore.

• Powerful payroll engines: Facilitates speedy, accurate payroll processing, consequently elevating operational efficiency.

Trust & Compliance Recognition by IRAS

Multiable HCM‘s standing as a cloud brand is backed by Singapore’s IRAS endorsement. With the Auto-Inclusion Scheme for Employment Income, which is a recognition by IRAS, firms can take it for granted that it has gone through audit and that its compliance and security features are reliable. This is a sign of its efficacy and a reminder of IRAS’s recommendation of it in HRIS.

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.