With companies going global faster than ever before, having a diverse and global workforce is now more of a norm rather than an exception. But while crossing the borders is getting easier for corporations, managing the workforce is getting increasingly complex. Stringent compliance mandates, and unique HR, benefits, payroll requirements across countries are hard to track and even harder to manage on a day-to-day basis.
Mihi – a cloud-based software for global workforce management is helping companies tackle these challenges by automating time and attendance, vacation, leave management, benefits administration and more. Mihi is compliance-ready out of the box i.e. it is prebuilt to enforce statutory regulations like wage, hour, and benefits in 40+ countries.
Mihi's Co-founder and Chief Innovation Officer Rohit Lohia talks about how Mihi is keeping employees happy, improving compliance and getting better workforce visibility.
There is an interesting backstory to the inception of Mihi. Tell us about it.
We were engaged by a Client when they were spinning out from a Fortune 50 company and needed a technology that could help their thousands of employees easily manage time and attendance and benefits across 35 countries. They needed this in less than 60 days.
We found that there was no single software to achieve their goals – you could combine multiple solutions but it was inefficient and left compliance loopholes that put our Client at risk. We understood the need and we had the expertise to build a system so we asked our Client to let us build a software for them. The put their faith in us and rest is history. This venture led to the birth of our software technology and its namesake company Mihi.
Mihi brings a mix of global HR knowledge, technology and employee focus that is a game changer for companies who want to centralize their global operations without building an internal army of HR and payroll experts
What are the major challenges that companies face today in HR management?
Today companies are going global earlier than ever and they need systems to manage their global workforce. They don't have the time or resources to deal with antiquated systems or hire an internal army or payroll and HR professionals. We are also seeing increasingly strict regulatory framework globally. Case in point: GDPR or the General Data Protection Regulations that impose strict guidelines on how companies collect, manage, and store data. Companies of all sizes are scampering to company. Mihi is built in response to these challenges.
Tell us how Mihi delivers value to its clients.
Mihi's technology is built to keep employees happy and corporations safe. It simplifies day-to-day tasks like applying for leaves, enrolling in benefits plans, etc. For companies, it reduces compliance risks and automates data collection. Imagine how much easier it is to run accurate, on-time payroll if employee hours, overtime, statutory benefits, etc. are collected accurately across all countries, in the right format and ported over to your payroll system. It’s like having an internal team and an in-house compliance officer. Mihi knows local laws even if you don’t. For example, Mihi will alert managers if a certain employee is clocking more overtime than what is legally permissible in that country. Our mix knowledge and technology is a game changer for companies who want to centralize their global operations and stay compliant without building an internal army of HR and payroll experts.
Can you highlight a customer success story that demonstrates your value proposition?
Recently, a Client with employees in 13 countries was struggling to get clear visibility of their workforce. Employees were on different or no systems and simple tasks like leave approvals were taking far too long. And the Client had unique statutory requirements related to medical devices. We successfully coordinated with key stakeholders across all countries and languages, customized Mihi to the need, and on-boarded all employees onto a single system in weeks.
How does the roadmap of your company look like?
The workforce marketplace has so much room for innovation and we aim to transform Mihi into a self-learning platform, enabling it to improve continuously. Soon we will be announcing some major partnerships with key players in the HR/Payroll world. Stay tuned.