The Future of HR Shared Services in North America
The future of work is changing dramatically. Every day we inch closer to automation or a new law passes that kicks us back a bit. As the future of work changes, you need a team of advocates who can help you figure out where you stand. As HR changes, so does HR shared services. When you are looking for the right team to partner with, you need a group that is as forward-thinking as you are. Today, let's talk about the future of HR shared services and how it can help your business.
How Shared Services Helps HR
Shared services provides one of the most important things HR can have: continuity. As you grow your business, take on new opportunities, and build your talent pool–you need a stable anchor from which your business can grow. Shared services is an outsourced team that your company can call on to ask for help as you get bigger. Instead of trying to keep everyone in your office up to date, you can depend on a group of experts whose sole job is keeping up with all things HR.
Four Ways HR Shared Services is Shifting
Now that we know why shared services helps HR, let's discover a few ways that HR shared services are shifting. If you want a forward-thinking shared services company, they should be focused on the below.
Understanding the Gig Economy
According to Forbes, “More than one third (36 percent) of U.S. workers are in the gig economy, which works out to a very large number of approximately 57 million people.” This number is growing every year as more people understand the value of flexible work. HR shared services helps us blend a variety of talent sources in an effective manner. If your company intends to take advantage of the gig economy, you need a team that can understand it. The gig economy is becoming even more complicated with new laws like California’s recent law AB5. Most HR professionals aren’t as primed on these gig economy laws because they are confusing. You need a team of people who can help decode these laws for you.
Figuring out Artificial Intelligence (AI) and Automation
You've probably seen an increased use of AI and automation on everything from games to grocery stores. Soon many humans will coexist with robots in some capacity. Humans need to be able to stay afloat in this economy and the automating tools we use need to be in line with the culture we're building. AI and automation are also bringing with them a new set of challenges and jobs. According to The HR Director, “The lessons from history are that while automation has an initial impact on jobs, new jobs then emerge, and we need to start planning for that transition now.” You need a shared services partner who can look past the current outlook on HR and technology to help you plan for the positions you’ll need to train and hire for.
Keeping Employees Skilled and Properly Trained
As we’ve talked about in other articles, upskilling is essential right now. You need an HR shared services partner who values the importance of learning and development for your team. Since we know that automation is happening, education can help us prepare for the jobs we’ll have after we lose some low-skill jobs. Overall, we want to make sure that our team feels prepared and ready to handle the future of work. Your employees need to feel secure and be trained so they feel less anxiety about where they will make money and how they will survive.
Utilizing Data to Make Huge Decisions
Last but not least, your shared services team needs to understand the importance of using data and analytics to make company decisions. One of the significant benefits of shared services is that it saves your company money. Technology and data help us make the best decisions for our team every day. Through the use of data, we can decide the best and most cost-effective form of action. Your HR shared services team should embrace technology, data, and how to make your company more efficient.
Make Sure Your HR Shared Services Partner is Looking Toward the Future
As you build your business and understand the unique challenges of our time, you need a strategic partner with the same vision of the future. Your HR shared services partner is a member of your team and should strive to move your business forward. You need someone in your corner who is considering things like utilizing data, how humans will coexist with robots, and how you can best use the gig economy in your work. If you aren't partnering with the right team, it will slow you down and make it harder for you to keep up with your peers.
HR, the future of work, and shared services are going through rapid changes right now. When picking a partner, you need to make sure that they match your business and the goals you have for the future. You don't have to know everything to understand whether or not a shared services company is an excellent fit for you. Get to know the team behind your shared services company so that you can make the best partner choice for your organization.