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Virtual HR Pte. Ltd.
by Virtual HR Pte. Ltd.4500 views @ 04-Mar-2018
Virtual HR joins TMF Group, a leading global provider of high value business services.
VHR has signed an Agreement on 1 June 2017 for VHR to be acquired by TMF Group, a leading provider of high value business services to clients operating and investing globally in more than 80 countries.
This acquisition marks an exciting milestone for our business. At a local level, TMF Singapore’s HR Payroll practice is well-established with HRP ISAE accreditation and is on progress to receiving the Outsourced Service Provider Audit Report (OSPAR). On a broader scale, TMF Group’s global footprint will likely be of significant benefit to our clients with global service needs. TMF has a global network of over 6,500 qualified professionals in more than 120 offices across the globe when needed.
Our company was founded on the fundamentals of what every business needs – a stable HR and payroll system that manages staff turnovers and mobility, and most importantly, efficient scalability for business growth. With over 25 years of HR practice, we have come to appreciate that this fundamental aspect of business, which may be mundane for some, remains a critical reflection of a company’s culture and respect for its employees. While a disruption in payroll may be administrative to a company, a delay or inaccuracy in salary disbursement can have detrimental effects on staff morale and productivity – impacting business growth and reputation.
With this in mind, we wanted to start a company that does what really matters for businesses, employees and HR practitioners. Since our inception in 2000, we have enjoyed substantial growth, as with over 90% of our clients. Education institution - NTUC First Campus, has been one such client, which grew from 500 to 2000 employees within 10 months of being on board with us. Other clients who have gone through major business transactions such as a merger or an acquisition, like Olam and Burger King, have had to port an entire workforce onto one payroll platform within a short time span. This requires a flexible network and system to be able to scale quickly and ensure a seamless transition for their employees. With the basic operations of the business being taken care of, it allows them to focus on the more crucial business issues of integrating HR policies and strategies for growth.
In-depth industry knowledge
Understanding the industries across sectors is imperative in making a difference to our clients. We possess deep knowledge and expertise in the pharmaceutical, logistics, services, food & beverage, government and Voluntary Welfare Organisations (VWOs). For example, high mobility is a natural characteristic of the F&B industry. We have helped F&B businesses zero-in on the most effective approaches to improving productivity.
In November 2010, we helped an Australian retail brand entering Singapore for the first time, to get all their HR policies and payroll up and running within a week, ensuring they opened their store on time. Being foreign to Singapore, new employers look for guidance in how to go about doing business in Singapore, such as compliance with local regulations and meeting the expectations of the local workforce. We have also worked with new joint ventures, like Syncada from VISA, to kick start their HR processes and payroll system within a month. This includes supporting them with the rationalisation and development of their HR policies with their head office, as well as between their joint venture partners.
Your growth is our growth
Our clients' business is our business, and we pride ourselves in going the extra mile. While a typical engagement with most customers may start with payroll, our philosophy of growing with our customers has led to over 80% of our clients extending their engagement to include leave and claims processing, as well as total employee benefits management. We help our clients stay ahead of payroll and employment regulatory changes.
Our clients' business growth is our growth, and we remain steeped in providing efficient and dependable service built on practical experience. More than 70% of our clients come from referrals.
