Author name: Adaptivepay

One of the things that Singapore’s most well-known for is its food and beverage or F&B industry. This is the island where a hawker stall once earned a Michelin star. But it’s not all stars and rainbows on the horizon for F&B businesses here. With a year-on-year decline in F&B sales of 26% in 2020 and continued uncertainty ahead thanks to the pandemic, there are clear challenges for any F&B business owner. Fortunately, there are many strategies available for overcoming those challenges. Among other things, business owners can strengthen their human resource management. Doing so is beneficial for any business, as it keeps the many parts of the organisation aligned in pursuit of common goals. It makes for an efficient and effective organisation. Today, the task of human resource management has to deal with new issues. A shift to the digital age, remote work, and the like are all realities today… which is part of why even human resource management has turned digital. Cloud-based HRM software is now one of the chief tools business owners can wield in this area. If you’re not sure if you need one in particular, then let’s go over some of the signs that you do: Your HR team may show signs of low productivity during salary periods They may take a lot of time to disburse wages due to complexities of figuring out the appropriate figures for each worker, for instance. This usually happens when there’s a wide range of part-time and full-time employees or employees with different levels and positions. That may mean differing hours, pay grades, and so on. When this happens, getting rid of your antiquated payroll system is usually the better way to go. Simply automate or streamline the process with an HRM that can keep track of salaries better than an entirely manual system. Never-ending pain points If you seem to have a list of never-ending pain points, it may be a sign that your HR isn’t able to handle your operations smoothly. Especially for a business that’s still growing, this may mean regularly outgrowing current business practices and tools. There are so many things to manage in a business, from recruitment and training to incorporating employees in the system. Then there’s the matter of recording leaves, claims, payroll, etc. The policies for those things can shift as a business ages and evolves. If your current system can’t cope with the growing or changing demands of your business, you may need HR software to fill in the gap. Trouble keeping up with compliance requirements With the frequently changing compliance guidelines and employee regulations, it’s key that any F&B HR department keeps up to date on myriad rules. Otherwise, it could very well fall into serious trouble. Some oversights may even lead to legal issues… or even the closure of your business. That’s the last thing you want for something you worked hard to build and grow. Luckily, it’s not something you need to struggle with too hard if you have capable HR software. The better examples of such software aren’t just flexible enough to adjust easily to regulatory changes: they’re even updated by developers so certain regulatory changes reflect immediately in your policies. Confusion of processes Just as it’s important to consistently produce the best quality of food and drinks your business is able to provide, you know how important management is when it comes to maintaining that quality. Processes and standard operating procedures have to be clear and enforced for a consistent, high-quality experience. That applies to everything from inventory management (which obviously affects food quality and hygiene, as well as availability) to order processing (which affects service quality). If your HR has trouble with that, you can use HR software to make it easier. That’s because it can help you keep track of processes and policies while streamlining them. Having a high turnover rate Have a high turnover rate in your workforce? That may come down to messy workforce management, interestingly enough. That’s because this can lead to confusion in scheduling, poor employee engagement, duty manager problems, lower service quality, and more. It means having to retrain new employees regularly, which can take a serious toll on resources. And of course, all of this can affect your business’s reputation. So that you’re not left during a busy dinner shift with barely any employees and the remaining ones running around in a frenzy, get HR software with a strong attendance feature. Having a good attendance rostering system will help! Conclusion An F&B business faces quite a few challenges in Singapore today, especially where its HR is concerned. But as you can see, several of them can be addressed quite effectively by good HR software. Modern HR software can make an F&B business owner’s life much simpler by automating and streamlining a lot of traditionally manual tasks. These range from complex payroll calculations to regulatory compliance checks. All of it is about strengthening your HR department’s capabilities to suit your specific situation. Software like Adaptive Pay, for instance, can allow an extremely lean HR department to manage a fairly large team. Yet, it can also function capably as HR software for startups in the industry with only a handful of employees. Ultimately, software of this type is the future of HR as the world grows increasingly more integrated with the digital realm. F&B businesses seeking to survive and thrive in this new world should take note.

Did you know that micro, small and medium enterprises (SMEs) make up for more than two-thirds of all jobs contributing to about 48% of GDP in Singapore? With the right support, these companies could significantly boost economic growth! SMEs face different challenges compared to their larger competitors. This includes having limited ability and resources for planning. Working towards business goals is another problem, such as the recruitment and retention of core staff. The same management team that handles the issues mentioned usually also needs to oversee the planning and delivery of work in the company. Now that sounds stressful! As you can imagine, this is a difficult job and may result in stressed-out employees. (And we all know where burnt-out employees go. Here’s a hint: resignation!) Moreover, many SMEs are still operating on a fairly traditional basis, and may have not embraced digital technology to further move their business forward. So we can’t help but wonder: with the acceleration of digitalisation, what is the future of SMEs, really, and where are we headed? Let’s explore this together! Finding the right team Ensuring cultural fit for the company We can all agree that finding the right employees to form a dream team can directly lead to a company’s success. When talking to prospective hires, it’s important to find out if the person’s values and work ethics align with that of the existing team members. For example, in startups, having an adaptable attitude is an absolute must-have. The startup work culture requires an individual to wear multiple hats and take on different roles, which may be outside of their area of expertise. But that may not be everyone’s cup of tea! So when interviewing, ask the right questions to make sure that your potential hire has the right attitude and ethics to fit your growing business. Mapping career progression for employees Another thing to take note of: map out a path of progression for each employee. Though not everyone may ask about it directly, employees want to know what career prospects they have with your company. And if they feel that you can bring their career to the next stage, they’re more likely to stay! On the other hand, if they feel opportunities are limited or there’s no room for further growth, they may start looking for opportunities elsewhere. As globalisation continues, companies are also no longer limited by geographical distance when choosing to hire employees anyway. This means job seekers now have an easier time looking for companies that can hire them remotely. This brings us to the next point of digitalisation. Going digital Digital transformation has been a big topic among businesses and government sectors in recent years. And there’s no doubt that this has been accelerated by the COVID-19 pandemic in 2020, where businesses were forced to move online in order to survive! Technology is also now more accessible at all levels of the workplace. Yes, we’re referring to the increase in uptake of collaborative apps and cloud solutions like Microsoft Teams and Asana. These platforms help employees stay productive yet connected with the rest of their teammates, whether they’re working from their own homes in the same city or from a different continent altogether! Digitalisation for SMEs SMEs can make the most of these solutions to grow and expand their horizons too. If you think about it, a key factor to an SME’s success is having reliable people. And the management and HR team are in charge of taking care of these employees. But that’s not their only role. In a small company, (where there are only 1-2 HR staff) they’re likely to also have other responsibilities, such as managing: Attendance tracking Payroll processing (which could require hours of full attention each week) Recruiting and interviewing Benefits and compensation Employee training and wellbeing And in the case of SMEs, the management’s role not only involves overseeing staff, but also the planning, directing, and overseeing operations and the fiscal health of a business unit/department. On top of all of that, they also have to look out for their own career development. Just reading that made us tired! By digitising the HR process, managers and the HR team can collect data more easily and therefore make decisions more quickly. This means freeing up time for them so that they can work on other high-value tasks. It’s a win-win situation for all. The future is digital For an SME to thrive in this day and age, embracing new business trends and solutions is a must, to not only help your business stay afloat, but also give it a better chance at success! (And that means going digital if you haven’t already done so!) The future of SMEs relies on not only having the right employees, but also embracing technology and digitalisation. People training and management can only benefit your business when it’s paired with the right mindset. If you want to know how Adaptive Pay can redirect your business path and make your HR process simpler, contact us today for a free demo. HR Tips