Human Resources Shared Services – The Benefits for Your Firm
Human Resources Shared Services – The Benefits for Your Firm
Human resources have evolved over the past two decades. The evolution and changes of HR had paved its way to the development of the shared services model. Therefore, as HR practitioners, it’s important to know more about this new model and how human resources shared services (HRSS) is beneficial for a firm.
What is HR Shared Services Model?
The model was created in order to provide HR services to the firm following a decentralized model. Specifically, the mission and vision of the firm are shared to an HR services provider in order to help the firm in achieving its goals, HR shared services aims to minimise or avoid overlap, duplication and other issues in the organisation. Sharing services can be either intra-agency or interagency and are dependent on the structure and needs of the firm. HRSS functions include handling and reporting of the benefits of the employees, job leaves, employee payroll, and attraction and recruitment.
What are the Benefits of Human Resources Shared Services?
HRSS has three primary service areas of implementation which include the following:
- Professional Services
The professional and integrated system of services is provided by this type of companies. Specifically, HRSS provides the structure for benefits, compensation, training and development of employees, acquisition of talents, and compliance. An integrated service is provided by professional HRSS which also allows the firm to gather data and analytics on their organizational and management processes.
- Operational Excellence
Implementing the transition in the firm is also one of the beneficial functions of HRSS. In this manner, the expert HR firm provides data and analytics to the company in order to assess, implement, and monitor HR practices in the firm. These data will help the firm decide on changing, improving, or maintaining their current practices that help the company achieve its organizational goals.
- HR Operations
HR shared services provide a key aid in the operations of the company. This means that the HRSS helps in coordinating the employees of the firm, including part-time, full-time employees, or seasonal employees. The operations provide also include onboarding of the newly hired employees, develop customer service structure for the company, and other staffing services.
Why Have HR Shared Services?
There are a lot of best practices and productivity approaches of HRSS. Some of the reasons why a medium or large firm should work one include the following:
Optimized Operations
Best practice companies utilize self-service transactions within the firm. In here, companies use a self-service process in terms of accessing individual files, contracts, and other data and information that a company has about an employee. HRSS comes in by creating a system for companies to reduce the HR transactional actions. The team also focuses on helping the company have an efficient operation when it comes to employee data handling and storage.
Technology
Currently, one of the emerging trends in human resources is the paperless system. In this manner, HRSS leverages technology to provide the best and most efficient service to their clients. Software and cloud computing are two of the best and most convenient means to digitize HR data and information. Digitizing files for different branches or sites of a company helps in allowing managers in different locations access files and update these files in a timely manner.
Continuity
Working with an expert HRSS provide continuity which helps develop and provide employee satisfaction. A continuous help from HRSS, even with your HR team, helps in ensuring that regardless of the drastic changes in your internal HR team, there is still a continuous support from the HRSS. Employees who have an assurance that they can work with HR personnel anytime helps them become more satisfied and productive in the workplace.
The benefits of HRSS also transcend from employees to the management, especially during implementing the change management process. With this on hand, these benefits and trends in HR shared services help managers focus on the bigger picture in order to achieve both long and short-term goals of the company.
Human resources have evolved in the past two decades. The evolution and changes of HR had paved its way to the development of the shared services model. Therefore, as HR practitioners, it’s important to know more about this new model and how human resources shared services (HRSS) is beneficial for a firm.
Far too often, small business owners try to do everything themselves, making major sacrifices to efficiency. This is one excellent way to outsource non-essential tasks. Thanks for sharing!
My sister is in HR and will love this.
I will share with her! Great read!
Interesting and helpful information. I am sure a lot of companies can benefit from this.
I’ve never heard of this model but it sounds like it will be beneficial for many companies.
This is an interesting concept. As a small business owner I could see how this could be helpful.
Thank you for sharing! I loved learning about this approach.
This not only a very insightful post but very informative too.
This seems like a great resource thanks for sharing it.
Well written about the benefits Human resources. it gives me a lot of idea especially it is relate on my work right now Thank you for sharing.
Interesting, informative & intriguing post ! Keep up the good work !
I’m not well versed in HS so reading this helped a lot! Thanks for this informative post.
To be honest, it’s my first time to hear about shared HUMAN RESOURCE SERVICES. I think it’s pretty convenient for small-medium businesses. I also believe firms like this can address and tailor their services to your human resource needs. Pretty informative post, thanks for sharing.
I wish I could share this with the former company I worked with. There HR department were so unprofessional.
I am sure all bif corporations benefit from this shared model
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I appreciate you spending some time and effort to put
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Many small businesses struggle to offer comprehensive benefits to their employees because of the cost and the complexities of managing health insurance, voluntary contribution programs, employee assistance programs and more.
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HR management software makes the entire process may become more effective
I liked that you said that one thing to consider when hiring human resources services is that they are well educated and have the proper technology. I would imagine that education and technology would enable human resources to do their job correctly. I would be sure to hire professional human resources representatives in order to achieve proper work for my business.