Businesses today have become complex due to globalization and are facing challenges related to skills shortage and cost crunch. It is therefore vital for organizations to adopt a matrixed structure that can address these issues by introducing a shared service model. This helps reduce unnecessary hiring costs and improve project delivery.
A matrix model refers to a defined system wherein employees have multiple reporting lines and report to more than one manager. It allows the organizations to leverage the existing workforce potential to the maximum and stay sustainable and profitable in the long run.
