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Shared services is different from the model of outsourcing, which is where an external third party is paid to provide a service that was previously internal to the buying organization, typically leading to redundancies and re-organization. There is an ongoing debate about the advantages of shared services over outsourcing.
A shared service is an accountable entity within a multi-unit organization tasked with supplying the business unit, respective divisions and departments with specialized services (finance, HR transactions, IT services, facilities, logistics, sales transactions) on the basis of a service level agreement (SLA) with a costs charge out on basis of some type and system of transfer price.
Strategic business partners (what used to be referred to as shared services or service providers) require a common methodology to drive true business innovation and strategy. These strategic business partners (IT, Finance, HR, external providers, etc.) are converging with the business.
Shared services are services provided by the corporate headquarters for various business units. Owing to the aggregation of demand for these services, the headquarters can realize scale effects and provide them at lower total costs. Typical shared services are HR, IT, and marketing services. [14]
HR organizations in large companies are typically divided into three sub-divisions: HR business partners (HRBPs), HR centers of excellence, and HR shared services. Compensation & benefits is an HR center of excellence, like staffing and organizational development.
E-HRM is seen as offering the potential to improve services to HR department clients (both employees and management), improve efficiency and cost effectiveness within the HR department, and allow HR to become a strategic partner in achieving organizational goals. However, several things may overshadow the intended goals and potential benefits ...
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