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HR Shared Services, Realising the full potential of HR Shared Services
Business Intelligence [part of Optima Media Group]
Some companies have made dramatic improvements to the efficiency and effectiveness of HR through the introduction of shared services. But as many companies have discovered to their cost, there is no guaranteed payback from moving to shared services.- One survey found that while half the companies surveyed targeted savings of 20 per cent or more from the move to shared services, this was achieved by only a third. - Over a quarter of the organizations surveyed achieved less than 10 per cent savings. Yet for some companies the returns have been substantial. Standard Chartered achieved an $8 million saving with its move to HR shared services. Nor are savings the only form of payback. The introduction of shared services helped Scotiabank to raise its customer service performance to number one position for two years running.Ten steps to success:This report identifies the ten essential elements that underpin successful planning and implementation and shows how these factors are applied by high-achieving companies. Companies that implement effective HR shared services are successful because they:- Win management support - Plan for success - Design for efficiency and service - Communicate and consult - Build strong staff resources - Create a service culture - Draw on your e-HR strengths - Set the right goals - Apply the right measures - Drive the process forward HR Shared Services - Achieving the business benefits provides a clear analysis of all these principles and illustrates, with practical examples, how to put them into practice.