28 February 2020 AnkitChadha

Five Trends In HR Shared Services

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The HR functions in most companies get remodelled to narrow down the gap with present business requirements. For a successful HR set-up, a company requires well-established HR operations or HR shared services organizations. In the last decade, many organizations have implemented significant HR transformation plans to create a base for efficient HR functions.

At TRC Consulting, we offer client-focused, responsive, cost-efficient and consistent HR services. The setup of our HR functions for HR Shared Services usually look like this:

  • Our experts support every single point of contact and contact centres
  • We are the first point of contact for any HR-related functions for all employees and managers
  • Our professionals consistently reduce the time spent by managers and employees on any HR functions
  • We help you understand and streamline various features of HR services, including:
  1. What Are The Functions Of HR?
  2. What Are HR Functions And Responsibilities?
  3. What Is Core Hr Functions?
  4. Which HR Functions Can Be Outsourced?

 

Here are five popular trends in HR Shared Services, based on some of the best of organizational practices:

  1. Data And Analytics

A breakthrough trend in HR shared services; data analytics helps leverage facts and evidence to help organizations carry out resource management. Standardized data access through shared services facilitates the organization to analyze relevant information. This centralization of data permits the management to make prompt and informed decisions concerning employee issues and various business operations.

  1. HR Functions As A Business

Based on their size, businesses can include a large part of the total budget under HR functions to hire skilled HR professionals. Organizations can select advanced HR functions, such as HR Shared services, to drive integrated improvements and systematic methods such as LEAN. Besides, HR functions as a business help decision-makers to work with:

  • Comprehensible Case Studies For Investments
  • Explicit Multiple Targets
  • Agreed Budgets With Business
  • Monitoring Client Satisfaction
  • Transparent Cost Models
  • Regular Reviews On Business Activity And Performance
  1. Integration Of Advanced Technology

The HR functions are now leveraging the latest cloud technologies to implement integrated HR solutions. The increasing use of digital technology has made HR shared services almost paperless. All personnel and employee data files are digitized, saving the organization’s storage space and geographical restrictions on HR functions and responsibilities.

  1. Unified Services

The highly efficient HR service organizations maximize their potential by combining these services and implementing them across the organization:

  • Talent Management Recruitment
  • Payroll
  • HR Data and Analytics
  • Learning
  • Organization Data Management

The HR Shared Services also provide fact-based feedback for rewards and recognition.

  1. Consolidated Back Office

The current trend seen in most organizations is the establishment of a back-office focusing on specific HR services. Centralization offers HR-related information and services through a single source to all company personnel and management. This, in turn, achieves the following objectives:

  • Efficient use of expertise
  • Save HR Partners a lot of time
  • Better Focus on primary business activities
  • Less HR transactional issues for managers and employees
  • Cost-effective and consistency

 

A Trusted HR Shared Services Partner

Integrating all these trends into your HR functions is a journey that requires a professional approach. As a whole, HR Shared Services brings a substantial amount of benefit to the business. It also generates an organizational capacity for the management and HR to keep their focus on their front-line issues. When you partner with TRC Corporate Consulting, you can expect support for the consistent implementation of business practices.

You can contact us to discuss your organization’s core HR functionalities and responsibilities. We at TRC Consulting truly understand the notions of difficulties that can arise on your path to efficiently set up your business. Partner with us and let us take care of the rest. Get in touch with our team to know more.