Adjusting to problems in the wholesale trade industry in Hong Kong through the use of HR technology

What Are the Wholesale Industry’s Problems That Are Distinct?

Hong Kong’s wholesale industry is subject to challenges that are peculiar to the sector and are not encountered elsewhere. Supply chain fragmentation, heavy inventory management, and unpredictable foreign exchange rates are some of the obstacles that firms face. Labor shortages and compliance issues are a couple of added pressures that require quick solutions.

Regulations and labor costs pose both similar barriers to wholesale and other business sectors in Hong Kong. The local labor law complications and the need for compliance with the long-service payment rule are the HR-related problems faced by the firms. Besides, the issue of talent retention is still prevalent across different sectors, particularly in the period of global economic uncertainty.

What Are the Advantages of Having an HCM System?

In the case of Hong Kong’s wholesale, the introduction of the HCM system is the most appropriate move to counter the industry challenges. As a result of process automation, the firms can increase operational efficiency and reduce mistakes. The HR system simplifies the payroll, long-service payment, and compliance tasks, thus, alleviating the administrative burden. It goes without saying that the implementation of advanced data monitoring and analysis techniques enhances decision-making through performance evaluation and scheduling.

Indeed, HCM systems are the tools that drive the increase of employee engagement and productivity mainly through proper communication. Automatization of issuing rosters responds to the fast tempo of the wholesale sector. Furthermore, these very systems guarantee local laws are observed, thereby, general labor law compliance is made easy to all enterprises.

Guidelines for the Successful HCM

To implement a successful HCM needs proper planning and the contribution of the whole firm. Examine the needs to modify the HRMS solution to your problems. Add all stakeholders to reach a quick buy-in and have easy transitions to the new system. Training is key; make sure that all users have the right knowledge to be able to use the instruments effectively.

Reasons for Selection of Multiable HCM System

• • Rule-Based Workflow Engine: Automates HR tasks and streamlines processes through technology.

• • Intelligent Roster Planning: Scheduling is made easier, the productivity is improved.

• • Powerful Payroll Engines: Long service payment calculations and payroll complexity are addressed effectively.

• • Flexible Appraisal Score Mechanism: Performance appraisal comprehensiveness is increased.

• ISO:27001 ME Certified: The protection of personal sensitive data is guaranteed.

Compliance Assurance Using e-MPF Approval

Multiable aiM18 is an HCM system that is e-MPF approved. It produces documents that are compatible with both MPF and IRD regulations, which makes wholesale businesses worry-free when processing payroll and long service payment rules in Hong Kong.

Going Forward with Modern Technology

The wholesale trade enterprises in Hong Kong can experience major and positive changes in the course of their lives by the acceptance of a state-of-the-art HCM, HRMS software, or HRIS. In fact, the introduction of technologies is a must for the competition. These solutions do not only fix current issues but they are also the engine of the development of the firms that are looking ahead.

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.