The pharmaceutical industry in Hong Kong is often troubled by many sorts of obstacles that can stop their development and efficiency. The pharmaceutical firms are under an extra financial burden and operational constraint due to the need of abiding by strict regulatory compliance and labor laws, as well as adjusting MPF regulations. On account of a highly competitive market, these firms have to face new challenges in the area of talent acquisition and retention. The alignment of HR processes in a well-functioning way (for example, the management of payroll which is in a complex form, and the achievement of data privacy in compliance with the ‘Privacy’ ordinance – Hong Kong’s Personal Data) are the additional challenges that call for strategic management solutions.
Managing Pharma Pain Points with Human Capital Management System
In fact, a powerful Human Capital Management (HCM) system can not only manage the problems of the Hong Kong pharmaceutical industries but also go beyond that. Along with AI-driven features, integrated HCM systems are the most advanced HR tools that can not only automate compliance procedures but also reduce errors and penalties while ensuring adherence to the local labor laws and regulations related to MPF. The first step towards optimizing talent acquisition and retention is the implementation of effective employee engagement programs and the provision of a better candidate experience. What is more, administrative efficiency is increased through a reduction of the administrative burdens, which in turn enables the HR departments to focus on their strategic initiatives. In addition, pharmaceutical firms can achieve greater data accuracy and data security through AI-powered insights, though they would not breach privacy regulations like those in Hong Kong. Apart from that, advanced HCM systems also help to create a better employee experience by empowering the employees with self-service options and streamline the processes they encounter. These firms such as that have the above-mentioned facilities are additionally enjoying cost savings in the areas of administrative tasks and compliance.
Multiable aiM18 HCM: Pharma-Centric Solutions
Multiable aiM18 HCM is particularly tailored to support the pharmaceutical sector in Hong Kong. It is worth noting that it is e-MPF approved and provides the MPF and IRD compliant documents. Its AI-ready HR system is more than a regular solution; it introduces biometric and IoT-enabled features for better management of employees. The HR system also has a rule-based workflow engine, which is responsible for over 95% savings from customization costs compared to the ‘old’ way. The aiM18 HCM system also includes securely stored data with TDE protection, while AI ensures that sensitive employee information is protected. It also encompasses numerous payroll engines, which are capable of lengthy calculations, long service payments, and backdated reports effortlessly. With its department-sensitive appraisal methods, it makes the performance appraisal and rostering seamless as they enable these firms to maintain the agility and accuracy that today’s markets require.
Navigating the Future with HCM Solutions
A cloud-native ERP widely adopted by business in Singapore, Malaysia, Hong Kong and China. With over 6,000 customers in the region, aiM18 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.
About LAIDFU (Let AI Do For You)
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