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At the heart of this transformation is workforce analytics, often powered by advanced HR software. This technology not only centralises essential HR functions but also provides deep insights into workforce patterns, enabling HR leaders to make informed decisions.
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It explores key areas where automation can lead to significant savings, such as payroll processing, employee onboarding, benefits administration , time and attendance management, and recruitment. These tasks include employee onboarding, payroll processing, benefits administration, timekeeping, and compliance reporting.
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These often include payroll, benefits administration, employee data management, onboarding, and helpdesk support. Rather than duplicating these services in every region or business unit, shared services consolidate them into one location or digital platform. Centralised systems simplify audits and ensure uniform service levels.
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Improved employee retention rate : Employees are more likely to remain with the company if they have professional growth and development opportunities. Lower hiring costs: Internal employee promotions require less extensive employee onboarding and minimize the recruitment expenses associated with hiring externally.
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