Overcoming HR Challenges in the Hong Kong Pharmaceutical Industry

Hong Kong’s pharmaceutical sector is standing on a critical fork in the road, confronting unique and nagging problems that require innovative Human Capital Management (HCM) solutions. Even though pharmaceutical products lead to life improvement, this industry deals with the stubborn dividers of regulatory complexity, long R&D processes, and tight compliance needs. Because of these unique problems, dedicated HR systems are the only way to reliably manage the HR function in the firm.

The Unique Struggles and Common Problems in Pharmaceutical HR

In Hong Kong, the pharmaceutical industry faces exclusive challenges that are not seen in other industries. The main challenge of regulatory compliance, with initiatives that call for strict oversight and ongoing updates, is frequent policy changes that need continuous monitoring to be observed. At the same time, this sector is burdened with long research and development cycles that call for significant monetary and human resources. The moral standing of the drug business is evident and necessitates increased supervision over quality control and ethical dilemmas, the additional implication being the need for personnel management.

Of course, there are some parallel difficulties with other industries as well. As is the case with many Hong Kong firms, the pharmaceutical sector contends with stiff competition for skilled labor, high overheads, and the pressure to adopt technology for efficiency gains. In actuality, these mutual concerns are what lead to the necessity of an improved HR system not only in this but all sectors.

How HCM Systems Overcome Problems in the Industry

Solving these manifold problems requires a sophisticated and robust human resource management system. Implementing an effective Human Capital Management (HCM) system can yield significant gains. With the overemphasis on compliance, the HCM system can switch on the application monitoring module for tracking changes in law, thus easing the workload on HR personnel considerably. The other thing is that, by improving the workforce planning process, the firms can manage their operational costs and ensure that right people are on the right jobs at the right time more effectively.
On the other hand, the sector is indeed based on sensitive data and thus careful attention should be given to privacy and compliance issues.

An HCM platform guarantees data protection which is the primary step in building up trust in an industry dealing with sensitive information. It is also benefitting performance appraisals that lead to a motivated and productive workforce.

Steps to Successful HCM Implementation

Switching to a powerful HCM system must be carefully planned to succeed. To enjoy maximum benefits, enterprises should start by conducting a thorough assessment of their existing HR processes to ascertain areas that require improvement. The communication of the system’s benefits succinctly is necessary for the support of the staff. Including employees in the course of decision making can also make it an easy and timely exercise. Regular training sessions need to be scheduled to educate employees on newly introduced features and updates to ensure smooth runnings post-implementation. Committing to the ongoing evaluation is a key aspect of an HCM system that will ensure alignment with not only the firm’s goals but also the regulatory demands.

Key Elements of Multiable aiM18 HCM System

Multiable’s aiM18 HCM system has unique features specifically designed for solving individual issues of the customer:

• Rule-based Workflow Engine: It improves operational effectiveness by automating complex HR processes.

• A.I. Ready and Fully Customizable: Adapt functionalities according to firm-specific requirements in a way that guarantees an optimal fit for industry-specific problems.

• ISO:27001 Certified: Encryption that is robust provides the security of crucial personal information.

• Intelligent Roster Planning and Local Compliance Checker: Helps to comply with Hong Kong’s labor laws while ensuring efficient workforce deployment.

• Powerful Payroll Engines: Solves complex payroll computations in a short time, thus enabling dynamic payroll requirements.

aiM18 HCM’s e-MPF Approval: Streamlining Compliance in Hong Kong

aiM18 HCM is recognized as an e-MPF product by the profession which provides incredible compliance and operational gains in the pharmaceutical industry in Hong Kong. The platform features Mandatory Provident Fund (MPF) operations and is incorporated with all necessary documentation from the IRD. This specific benefit is a significant decrease of the administrative burden on the HR teams while bringing them into alignment with the local financial and legislative requirements.

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.