Hong Kong biotech industry is on the rise, but it has some unique challenges that can only be solved with innovative solutions. A proper HR system, for instance, Multiable aiM18 HCM can is the right tool for navigating your way through this labyrinth.

What are the unique biotechnological challenges in Hong Kong?

The complex clinical trial regulations are the first main challenge in the biotech sector. In addition, the long process of getting drug approval makes this field even more complex. Furthermore, fast innovation is a requirement. Adapting to it quickly is a challenge for many firms.

Surely, the competition for top talent stretches the resources. It’s true that Hong Kong’s biotech firms are not only suffering from the above-mentioned constraints but they also have funding issues and high operational costs, which are the same as the struggles other industries go through.

How does HCM tackle these issues?

Having a robust HR system can help streamline compliance with regulations by checking if all certifications and qualifications are current. On top of that, an AI-based HCM can effectively plan rosters, thus lessening staffing issues. This grants firms the liberty to concentrate on the main focus of research and innovation.

HRMS software is useful in reshaping recruiting approaches by relying on workforce trends. It thus offers a dependable payroll system, allowing firms to deal with complexities in an efficient way, like the long service payment, which is a retention strategy for Hong Kong biotech firms.

How to Successfully Implement HCM Systems

First, carry out a complete needs assessment for aligning the HRMS features with your firm objectives. Use a stepwise implementation to reduce disruptions. Make staff training a priority so that the department will become more adaptable and hence gain the maximum benefits from the new system.

Why Multiable’s aiM18 for Your Biotech Firm?

• Rule-based workflow engine: Effortlessly manage the complex compliance standards of the biotech industry.

• Intelligent roster planning: Boost employee effectiveness specifically for biotech labs.

• Fully customizable payroll formula: Make payroll simple by dealing with long service payments.

• Interface for creating labor laws tailored to compliance: Manage compliance of labor laws in different countries.

• Unlimited appraisal forms: Custom performance appraisals for staff development.

How Does aiM18 Ensure Regulatory Ease?

aiM18 HCM is an e-MPF approved system, making it certain that all MPF and IRD documents are accompanied by Hong Kong regulations. It is an important HR tool for the firms that wish to comply with the elemental retirement benefits.

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.