The plastic industry in Hong Kong is complex and demanding due to the various challenges it faces in operations. What are the strategies to overcome these, and how does technology help in this? 

What are the problems that Hong Kong’s plastics industry faces differently? 

The plastics industry deals with the challenges of waste disposal regulations, which increase operational costs. Environmental accountability is a weight on their shoulders, unlike many other industries. Furthermore, the increase in the price of raw materials due to global supply chain disruptions gives the feeling of a reduction in the profit margin-profitability is one of the plastic sector-specific issues.

Both labor shortages and high turnover rates are affecting not only the plastics industry but also other sectors in Hong Kong. Compliance across different industries, including plastics, which are now complex, is an additional burden for the administration. Human capital management (HCM) systems targeting these needs can drive the business to full efficiency.

In What Ways Can HCM Systems Overcome These Hurdles?

With the HCM system, compliance can be easily streamlined which reduces the burden due to administration overloads through automated updates. Because of its high capacity for the transformation, firms can easily deal with complex regulations. For example, it is a fact that return of investment in the workforce can be achieved through employment optimization, such as decreased turnover, and increases in recruitment strategies, and so on.

On top of that, effective staff rostering and workforce planning are vital. These points are well operationally increased by the staff which are located optimally and there are no gaps in labor supply. It goes without saying that a proper HCM solution can change the plastics industry’s obstacles into growth opportunities.

Strategies on Successful HCM Implementation

Successful HCM implementation is based on understanding the exact needs and setting the right expectations. Integration of data should be done properly to ensure the software for planning is working efficiently. Periodic training for users of HR systems raises the level of adaptation and efficiency. The choice of an HRIS that matches with the organizational goals is the foundation for the long-term benefits.

What Are Multiable aiM18’s Features in Fighting Industry Challenges?

• Rule-based workflow engine: Automates compliance tasks, minimizing human error.

• A.I. ready: Enhances decision-making abilities through predictive analytics.

• Intelligent roster planning: Optimizes workforce allocation, addressing labor shortages.

• Powerful payroll engines: Expedites accuracy in payroll computations, supporting growth.

• Unlimited appraisal forms: Streamlines performance appraisal processes, aligning objectives with outcomes.

Why Is e-MPF Approved HCM Crucial for Plastics Companies? 
-aiM18 HCM, which is a e-MPF approved HCM, supports MPF and IRD-compliant documents. This means that you are aligned with the statutory requirements in Hong Kong which will ensure that plastic firms are compliant, and so they can reduce the risks of penalties for non-compliance, while at the same time deal with long service payments effectively.

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.