In times of uncertainty, High Performing Organisations (HPOs) effectively address new challenges and opportunities, regulatory change and market shifts with new organisational structures, new operating models and new technologies.
The ever-changing needs of the business and its operating environment make it imperative for organisations to continuously reassess their core processes, and especially those that relate to their people matters.
Adapting the core businesses to meet future challenges, shaping the portfolio in an ongoing way to respond to a changing environment, and building the next generation of businesses.
The Future in the management of transactions, risks and compliance requirements.
As companies gain more experience with the shared services, the list of HR functions (payroll, risk and compliance, benefits, recruitment and training and development) being outsourced is expanding.
The shared services infrastructure acts in effect as an extension of the company’s back office; a business relationship sometimes referred to as the ‘extended enterprise’.
In its broadest sense it encompasses the total management and provision of all the services that support the core HR function of an organisation, with an increasing emphasis on achieving value for money, constrain costs, changes in work patterns, taking advantage of advances in technology and ensuring continuous improvement.
Organisations need constant compliance support and guidance, to remain compliant and updated with changes in the HR legal system.
Operational Transaction Support Services that Drive Performance
HR administration, payroll processing, benefits administration and auto enrollment and risk and compliance management are key New-Era-of-Workplace enablers with the highest value and strategic relevance that:
- Close functional gaps
- Strengthen core operations
- Significantly reduce costs & improve operational efficiency
- Enhance overall business objectives
Reduce the financial impact of your HR function
Organisations need to consider the total cost of their workforces. The Total Cost of Ownership (TCO), consolidates spending on employees plus the management of those employees. However, many organisations fail to calculate the TCO, that includes costs associated with:
- Payroll processing
- Risks and compliance management
- Managing salaries and benefits
- Time and attendance
- Talent management
- The systems and processes to support all of this activity
The Shared Services Extended Enterprise business model offers operationally focused support and advice on the integration process across the HR transaction life cycle – by centralising, standardising and automating aspects of the transaction processes where it makes sense – to meet regulatory and accounting requirements.
- HR Administration
- Payroll Processing
- Risk & Compliance Management
- Benefits Administration
It helps you mitigate compliance risk, exposure to legal action, improve transactions and business outcomes.