What are HR Shared Services?
HR Shared Services Defined
Large organizations with complex human resources departments outsource HR processes, reporting, and software solutions to companies that are positioned to handle these very specific and often difficult tasks. This third-party management is often referred to as HR shared services or HR Service Delivery (HRSD). Examples of HR Shared Services include recruiting, talent management, data analysis, employee sentiment prediction software, payroll, and overall human capital management (HCM).
Benefits of HR Shared Services
The HR department is more efficient when armed with the best possible HCM solutions and resources. Large organizations can gain the following benefits from a HR Shared Service model:
- Automated HR processes allow the internal human resources team to focus on company related goals.
- All HR data and analytics are centralized— creating one single location for all data.
- Shared case management is more cost effective than increasing the size of the HR department, plus current HR staff is positioned for career development.
- All data will be consistent and centralized. Once all your information is in one place within your HR Service Delivery platform, there wonft be any discrepancies when information is updated.
- Increased employee and customer satisfaction.
- Streamlined problem solving.
- Top talent can be developed and retained through employee sentiment prediction software.
To get started on how you can make an HR Shared Services model work for you, check out our HR Service Delivery product.