Shared Services HR – An Overview
Companies today need all the benefits that they can get, and one of the biggest areas that often needs a bit of work is that of human resources. There are plenty of options for maximizing HR performance and cutting costs, and one of the best is that of shared services HR. Simply put, shared services HR is just what it sounds like – the sharing of human resource services between two or more organizations. While at first glance it may sound like a complicated and risky endeavor, the truth is that shared services HR can provide a company with a host of benefits and at the same time do so with less effort than you may realize. In fact, implementing shared services HR is often easier to do than other human resource options and could be exactly what you're looking for.
- Using shared services HR could introduce cost savings of up to twenty percent. Depending upon company size and HR expenses that could be a significant sum.
- The implementation of shared services HR reduces the overall number of employees needed to maintain good HR, reduces costs of equipment, lowers the price of upgrading hardware and software, and provides many other monetary benefits.
- The professionals that will be providing shared services HR will be skilled and professional, using abilities that are often hard to track down and add to a standard HR department.
- Most shared services HR will be fully functioning, meaning that virtually every aspect of human resources – from payroll to employee benefits management and beyond – will be dealt with through them.
- Often, using shared services HR actually increases the ability to communicate with your HR department. From managers to employees, getting HR related answers is usually easier when shared services HR are implemented.
- You don't necessarily need a nearby business willing to participate in shared services HR anymore. That's because so many shared services HR are actually managed over the internet today. In other words, you'll be sharing services with multiple companies that you'll never see. The HR services themselves are managed through internet communication and other steps, and will provide you with plenty of different benefits.
- It's easy to set up shared services HR thanks to the above point. You can find the right solution for your company and set it up quickly.
If you're struggling to maximize your human resources department, then you may want to step back and take a closer look at what shared services HR can do for you. It may not be for everyone, but the many benefits that it can provide make it well worth considering for many businesses. With a combination of increased quality and lower costs, these services simply can't afford to be ignored any longer.