Shared services are becoming increasingly important in organizations of all sizes. By consolidating common functions such as finance, HR, and IT, organizations can improve efficiency, reduce costs, and gain a competitive advantage. The Head of Shared Services is responsible for leading and managing these functions, ensuring that they are aligned with the organization’s overall strategy and goals.
Key Responsibilities
The Head of Shared Services is responsible for:
- Leading and managing the shared services organization
- Developing and implementing the shared services strategy
- Managing the shared services budget
- Ensuring that the shared services organization meets the needs of the business
- Collaborating with other business leaders to identify and implement opportunities for improvement
Qualifications
The ideal candidate for the Head of Shared Services position will have:
- A bachelor’s degree in business administration, finance, accounting, or a related field
- 7+ years of experience in a leadership role in a shared services organization
- A strong understanding of shared services best practices
- Excellent communication and interpersonal skills
- The ability to think strategically and creatively
Compensation
The salary for the Head of Shared Services position will vary depending on the size and complexity of the organization. According to Salary.com, the average salary for a Head of Shared Services in the United States is $150,000. However, salaries can range from $120,000 to $200,000 or more.
Benefits
In addition to a competitive salary, the Head of Shared Services will also be eligible for a benefits package that includes health insurance, dental insurance, vision insurance, life insurance, and a retirement plan.
Common Mistakes to Avoid
When hiring for the Head of Shared Services position, it is important to avoid the following common mistakes:
- Hiring someone who does not have the necessary experience or qualifications
- Hiring someone who is not a good fit for the organization’s culture
- Failing to provide the Head of Shared Services with the necessary resources to be successful
How to Apply
If you are interested in applying for the Head of Shared Services position, please submit your resume and cover letter to [email protected]
Step-by-Step Approach to Shared Services Implementation
- Identify the core functions that will be shared. This is typically done through a process of due diligence, which involves interviewing stakeholders and reviewing existing processes.
- Develop a shared services strategy. This strategy should outline the goals of the shared services organization, as well as the steps that will be taken to achieve those goals.
- Implement the shared services strategy. This involves setting up the shared services organization, developing and implementing processes, and training staff.
- Monitor and evaluate the shared services organization. This is an ongoing process that ensures that the shared services organization is meeting its goals and objectives.
Tables
The following tables provide additional information about shared services:
| Table 1: Benefits of Shared Services |
|—|—|
| Improved efficiency | Reduced costs | Increased agility | Improved compliance |
| Table 2: Challenges of Shared Services |
|—|—|
| Lack of understanding | Resistance to change | Cultural differences | Governance issues |
| Table 3: Key Performance Indicators for Shared Services |
|—|—|
| Cost per transaction | Cycle time | Customer satisfaction | Error rate |
| Table 4: Shared Services Best Practices |
|—|—|
| Establish a clear vision and strategy | Build a strong team | Implement robust processes | Use technology to your advantage | Monitor and evaluate your progress |
Conclusion
Shared services can be a valuable tool for organizations of all sizes. By consolidating common functions, organizations can improve efficiency, reduce costs, and gain a competitive advantage. The Head of Shared Services is responsible for leading and managing the shared services organization, ensuring that it is aligned with the organization’s overall strategy and goals.
