Archived Insight | December 9, 2020

An Approach to Maximizing the Value of Shared Services

For an effective business model that has been growing in use for 40 years, there are still some misconceptions about the shared service model. It is not outsourcing, and it is much more than co-locating staff.

Implemented well, shared services can address challenges faced by HR brought about by the growth and consolidation of organizations through mergers and acquisitions and affect process improvements in areas such as employee experience and engagement, cost and quality of delivered services, and operational areas related to processing times and scale.

Approach to Maximizing the Value of Shared Services

This webinar proposed a model for evaluating readiness for shared services and examine a process for ensuring a shared services approach you build today can meet both today’s and tomorrow’s needs. The topics covered will include:

  • How a shared service model can effectively and efficiently provide HR services to employees
  • How to assess institution readiness and available technology
  • Ways to get stakeholder buy-in and prepare employees for the change
  • How to identify transactional functions to centralize
  • The resources needed for executing your planned design
  • What is required for an effective communications strategy

The session will include a relevant case study that focuses on the method of continuous improvement and the success of a shared services HR model.

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This page is for informational purposes only and does not constitute legal, tax or investment advice. You are encouraged to discuss the issues raised here with your legal, tax and other advisors before determining how the issues apply to your specific situations.