Hi Raheja,
Here is what the web brought in from employment-studies.co.uk
What are HR shared services?
A shared services model presupposes central provision.
The key dimension of HR shared service is that the activities involved are available to a number of parties. They are common services.
A variety of activities can be covered in shared services. These include principally administrative tasks (eg payroll changes, relocation services, recruitment administration, benefits administration, company car provision, pensions administration, etc.), but also frequently include providing information and advice, or consultancy and high level professional support.
Why shared services?
there seem to be three principal drivers to the introduction of HR shared service. These are:
* cost
* quality
* organisational change.
You may see the source for more info - employment-studies.co.uk