Hong Kong’s Electronics Industry Faces Unique Challenges

Hong Kong’s electronics industry is a very attractive sector to be part of but also comes with a special array of problems. The most notable of these are technological innovations that pick up speed blazingly. The electronics firms are on a perpetual ride of creativity and release of new products and this is true, but other fields do not face it as strongly. To top it off, the issue of supply chain difficulties is a depressing one to mention. As a result of global disruptions, the problem has worsened. Absolutely, it is very tough to keep the operations smooth with all these uncertainties at play. The situation is made worse by the soaring costs of qualified workers that the firms are experiencing with the rising competition in the field. Similar problems experienced in other sectors in Hong Kong are economic volatility and regulatory compliance.

Benefits of Implementing an HCM System

A strong Human Capital Management (HCM) system can address many of the hindrances faced by the electronics industry. The procedural efficacy of HCM systems is to support the grades of the seamless integration and operational consistency, which is the key factor for keeping pace with the technological evolution. These platforms make it easy in supply chain management, providing precise workforce analytics to make the necessary adaptations almost instantaneously. Frantically speaking, an efficient HR system is the key to shortening the time and resources allocated to talent operations and management which one that is highly affected by the skill shortage in Hong Kong. Moreover, the employee performance appraisal feature makes sure that learning never stops, thereby, the workforce can adapt to technological changes in a timely manner. The factors mentioned above make the HCM system a precious asset for firms in Hong Kong that want to optimize their human resources under the pressure of such unique circumstances. Extensions such as rostering and payroll management are the most significant ones to augment functional agility. Supposedly, a streamlined HR process that is being transferred into the economic resilience enables the electronics firm to get over the broader economic difficulties.

Guidelines for Successful HCM Implementation

Serious requirements must be met in order to achieve the successful implementation of an HCM system. The firms need to tweak the system according to their predispositions as well as the demands of the industries they operate in. Bringing everyone on board is a necessity and is given only when the full training on the capability of the system was delivered that way the return on investment will be maximized. To rule out the deviation from the expected outcomes, it would be prudent to lay down explicit objectives and benchmarks for measuring the efficiency of the system. In addition, actively engaging with crucial stakeholders from across the departments can help to secure the transition and integration free from potential operational disruptions.

Key Features of aiM18 HCM System

Multiable aiM18 HCM system comes with unique features to mitigate the challenges in the electronics industry in a way no other system can so far:

• AI Ready and Fully Customizable: The system is equipped with solutions geared directly to the electronics industry, thus, tackling the specific problems which electronics firms have.

• Powerful Payroll Engines: Process 1.2 million payroll formula with retrospective calculation along with a short time that is less than a minute and of course that is the accurate and timely payroll management.

• Intelligent Roster Planning and Compliance Checker: Provides the cross-functional team more time for planning by matching work schedules with labor regulations that are labor-intensive to manage.

• Unlimited Appraisal Forms: Maintain the competitive edge among firms in terms of employee retention through a broad range of performance appraisal options that are extensive and encompassing.

• ISO:27001 Certified Security: Freedom from e-MPF, which is a requirement in the Hong Kong’s MPF and IRD, and regulation security ensures protection of sensitive personal information and that this information be maintained ethically.

Compliance Made Easy with aiM18 HCM

The aiM18 HCM system is e-MPF approved, which ensures compliance with the laws of Hong Kong’s MPF and IRD. This approval makes things easy for firms since they do not need to spend so much time on compliance. Instead, they can direct resources to strategic growth areas that would help the firm in the long run. The firms are able to make sure that they meet their local obligations such as long service payment and that they can do it with ease and confidence.

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.