Amid Tough Situations in Hong Kong, Hospitality and Leisure Industry Still Blossoms
I think I said earlier that Hong Kong’s hospitality and leisure industry is not only one of the most bustling sectors in the city but it also is like the backbone of the economy. Nevertheless, the sector is characterized by challenges that are more peculiar than those in other industries. It is the lack of human resources, as well as the variable influx of tourists along with strict health regulations that ascertain the unsteady atmosphere for hospitality businesses. Additionally, alongside these worries, this sector also experiences concerns such as data security and compliance issues, which are also prevailing in other sectors. As businesses in Hong Kong come up with creative ideas to tackle such challenges, the introduction of modern technology like HCM (Human Capital Management) systems becomes necessary.
Exclusive and General Issues within the Hospitality and Leisure Sector
In the hospitality and leisure sector, the main issue that has surfaced is the labor shortage which has become a significant problem in Hong Kong. This matter is particularly raised because the sector highly depends on the benefits of personal interaction, which is not entirely achievable through automation. Adding to that, the tourist influx fluctuates unpredictably due to the effect of global events, and this makes the demand unpredictable. In addition to these difficulties caused by the pandemic, strict health regulations, which are essential in the global equation, make the disaster worse by increasing operational costs and complexity.
Issues like these are common in almost every industry, including hotels, the major ones being data security and regulatory compliance. Indeed, in a society where security breaches are constantly being heard of, protecting sensitive data from being accessed by third parties remains critical. Moreover, while local and global laws are continually evolving, compliance becomes an issue again not just for hotels but for every single business in Hong Kong.
HCM Systems as Asset Management Tool Against Sector’s Downfalls
HCM systems’ implementation is an invaluable way of solving the above issues. A well-designed HCM system can execute labor management, smooth the deployment of a project such as scheduling employees along with the execution of the project, by giving an optimization direction. Then through smart roster functions, businesses can balance the number of contractors on the job with the estimated demand, and so even with seasonality in fluctuation, hotels work efficiently.
Also, modern HRMS software that is rule-based and has workflow engines not only support firms in staying compliant with new legislation but also are more efficient in their operations. An HRIS has features that boost data safety such as advanced encryption that ensures the protection of essential personal information. Typically these systems help payroll run effectively ensuring that the firms perform the audits and meet all relevant compliance needs within a minimal time frame.
In fact, the performance appraisal systems in HCM solutions like Multiable aiM18 can practically be adjusted metrics for evaluations depending on the firm’s objectives, leading to more employee engagement and better performance in all divisions. This configuration not only serves HCM efficiently but also leads to a stronger workforce.
Guidelines for Successful HCM System Implementation
Introducing a robust HCM, HRMS, or HR system certainly requires careful planning and execution. In fact, including the major stakeholders in the decision-making process is essential for making sure that the system fits the firm’s current and future needs. Training employees on the new system has a positive impact on a smooth transition and subsequently helps to maximize the utility of the software. After addressing specific challenges through customizing configuration, businesses will be able to ensure a higher ROI and long-term operational benefits.
Key Features of Multiable aiM18 to Propel Your Business Forward
- Rule-based Workflow Engine: Ensures compliance with task automation and manual oversight, thus reducing it.
- A.I. Ready and Fully Customizable: Adapts to specifics of your firm and provides flexibility in better operational efficiency.
- Powerful Payroll Engines: Fast processing of payroll data and reduction in payroll-related delays and errors are two benefits of this feature.
- Intelligent Roster Planning and Local Compliance Checker: Sticks with the demand for staffing while safeguarding regulatory adherence.
- Unlimited Dimensions of Headcount Management: Provides versatility and precise control over the labor force of your firm.
Easily Manage Compliance with e-MPF Approved Systems
In Hong Kong, the imperative need for handling employee provident funds as well as generating legal documents like MPF and IRD is very vital. aiM18 HCM‘s e-MPF approval confirms readily with the government systems, thus dispelling non-compliance risks and streamlining the cumbersome administrative work. Through the support of local legislative requirements, businesses are able to dedicate their focus on strategic goals instead of regulatory concerns.
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.
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