Surfing the HR Digital Wave: Wholesale Industry in Singapore Embraces State-of-the-Art HCM Solutions

The wholesale industry in Singapore is among the main pillars of the economy, which is characterized by strong resilience. However, despite its importance, the wholesale industry is confronted with particular challenges, several of which are in need of novel solutions. This is where Human Capital Management (HCM) systems come into the picture — tools specifically utilized for cutting the complexity of human resources.

Unconventional Problems of Singapore’s Wholesale Sector

The wholesale industry in Singapore mainly has unique problems that other industries do not face. Inventory control, for one, calls for meticulous inquiry since product lines are huge and demand cycles vary. The extensive amount of trades with foreign countries requires far-reaching compliance and documentation because of intricate customs regulations. In addition, the seasonal demand is often seen as a complication for workforce planning, as the need for labor goes up and down. Furthermore, among the challenges which are shared with other industries, high turnover rates of workers and the necessity for seamless rostering are the most wicked and tricky to handle in wholesale businesses due to the nature of operations. Companies are also bound to react with attractive compensation packages to employees who are leaving their workforce, which includes managing CPF contributions.

Application of HCM Systems to Tackle Problems

Today’s HCM systems such as HRMS software and HRIS solutions are not just fabulous for these; they are also irreplaceable tools for solutions for these problems. These systems ensure the accuracy of CPF contributions and the exact calculation of long service payments through the streamlining of payroll processes, not to mention they are the most popular means. Hands down, they are the most intelligent system of all, because they allow you to use the smart workforce management, which implies that you will have fewer manual errors and better optimization of labor costs. The workflow engine rule-based HCM solutions have the side effect of local law compliance and policy adherence, as well as risk minimization with respect to any legal breaches. Furthermore, the provision of tailor-made performance appraisal instruments, they help to achieve the setting of the target that would require employees’ growth and productivity that fit the firms’ strategic goals. Moreover, they not only support in automating non-innovative HR tasks but also help with the transition to more strategic HR activities out of the supposed focus of certain operations like administration work.

How to Successfully Implement Your HCM

Having a high-quality HCM system set up requires a broad plan. The initial step is aligning with the organizational objectives that should be with the HR strategy. Incorporating training and change management, which makes up the workforce ready for a shift to new processes accommodating, is essential. The choice of a flexible and scalable approach is the pivot for the business to change along with growth. Phased rollout is an important method to help the business to run properly while giving feedback for the improvement of the system.

Multiable aiM18 HCM: buzz words for the most remarkable features

• Rule-based Workflow Engine: Boosts compliance and cuts down the HR process across the board.

• Payroll Formula Fully Customizable: Bandwidth reduced by 90% transforms payroll calculation into a walk in the park.

• Intelligent Roster Planning: A tool for precise labor scheduling, the application can directly address the seasonal workforce demands.

• Unlimited Appraisal Forms: Flexibility in performance reviews is presented, which brings about the opportunity of customizing employee evaluations.

• Powerful Payroll Engines: Getting through voluminous calculations quickly and with an error will ensure that the payroll will be dealt with in time.

The Endorsement of Multiable HCM by Singapore: A Flourish of Distinction

Multiable HCM‘s approval from Singapore’s IRAS embodies the superior quality it has to offer with respect to compliance. It has been blessed with the Auto-Inclusion Scheme (AIS) for Employment Income label, which attests that it is a top-tier HR system that cares about not only payroll data but also their management and reporting, which is essential for businesses in the wholesale 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.