Utilization of HCM in Transforming the Rubber Sector in Singapore

Singapore’s rubber industry is one of the important sectors of the country and it plays a big role in the economy. The rubber industry in Singapore not only adds to the GDP but is also a major employer in the country. Although, the rubber industry has its own unique obstacles to deal with which depend on the specific issues related to it. The expansion of technology, and the combination of Human Capital Management (HCM) systems are the current trends to improve performance and handle these issues more effectively. This write-up article will talk about the exact challenges faced by the rubber industry and how the innovation of high-tech HCM solutions has brought positive changes in the industry.

The Exclusive Challenges Encountered in Singapore’s Rubber Industry

Presently, certain challenges are binding the rubber industry due to their unique workings. Costly raw materials and the resulting unstable prices are a problem for the whole rubber industry in some sense as firms have to think intensely before planning the future. Additionally, the hard-hitting environmental laws that the industry faces need to observe changes in the process to prove that they have complied right.

To add on, the rubber industry’s problem is that they require specialized labor in the first place. But the shortage of skilled labor is the consequence of this type of work being very specific. Another important thing to say is that the rubber industry has the same troubles like other industries, which are, the risk of cyber-attacks and the pressure to be more productive than competitors. These common issues are the main reasons why Singaporean rubber firms are in search of multi-dimensional solutions that can improve not only the rubber industry but also other businesses.

HCM Systems: The Strategic Method

The implementation of a competent HCM system can solve the industry-specific problems to a large extent.
With the aid of HCM, businesses can introduce a workforce planning and recruitment process more quickly and precisely with respect to the required skills, hence fixing the problem of skill shortage. Apart from it, the real-time analytics through HCM solutions lead to more accurate demand forecasting thus helping the firm manage raw material price volatility.

It is of no doubt that the HCM‘s automated compliance features are set to align the bricks corresponding to both the environment and cybersecurity regulations. This is vital for keeping productivity high and reducing risks in the rubber industry. To tell the truth, the state-of-the-art HR modules together with the payroll and performance appraisal can make firms more attractive among workers and hold good personnel which are the main stages to the attainment of extra results.

The Guide to Executing HCM Perfectly

Executing the HCM system is a strategic move that needs a well-thought-out plan for guaranteed success. The most vital thing is that firms should perform an in-depth needs assessment before making any decisions and set exact targets that bring the maximum payback. Both the training and the change management are equally essential as they set the stage for all employees to start on the right foot with the new processes. Also, involving cross-departmental stakeholders will enable a tailored approach to the system that serves the diversifying organizational needs.

Essential Features of Multiable HCM System

The Multiable aiM18 HCM system has a host of distinctive features that are of great value to Singapore’s rubber industry:

• Rule-based Workflow Engine: Is a system that makes procedures faster, thereby ensuring greater operational efficiency.

• ISO:27001 Certification: Is a standard of cybersecurity which encodes very sensitive information about the workers both critically and at the personal level is very useful for businesses addressing cybersecurity issues.

• Intelligent Roster Planning: Is a shift scheduler and a compliance tool that can be used to better manage specialized labor, among other things.

• Powerful Payroll Engines: Handle complicated payroll calculations faster which results in fewer errors and higher efficiency.

• Unlimited Appraisal Forms: Are required for the effective performance of a flexible appraisal system, which in turn fosters better employee engagement.

Multiable HCM being IRAS Approved

According to the Inland Revenue Authority of Singapore (IRAS), the Multiable HCM system is approved and is well-received for its compliance with the auto-inclusion scheme (AIS) for employment income. This serves as contractual proof of the HCM‘s efficiency and dividend on the rubber industry payroll processing and CPF contributions integration making it the hugely positive choice here.

Welcome the New Era of HR in Singapore’s Rubber Industry

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.