Your payroll system holds a huge amount of sensitive data. Unfortunately, this makes it a powerful entry point for suspicious and fraudulent activity. Cyber attacks can have severe consequences for your team and business. These attacks may expose personal information about your business or your employees. Any reputational, financial or legal implications from these attacks are difficult to recover from. So, it’s important to know exactly how to protect payroll.
The coronavirus pandemic has put even more pressure on your payroll security and cyber attacks have become more sophisticated, too. They often target your payroll’s most valuable data, like your business’s or employee’s bank account details.
Fortunately, there are ways to prevent fraud. Here we share five ways to protect payroll, so your data remains secure, confidential and protected.
The security of your payroll reflects the security of your entire business. Firstly, carry out an audit of your existing security measures. Your first audit may be timely, but don’t let this hold you back. A complete overview will highlight your business’s current security operations and any areas that require improvement.
Start with your HR and payroll team and speak to each of your staff individually. You should ask each of your employees a series of questions. For example, ask your payroll staff to share exactly what they do on a daily basis, as this should reveal a lot about your business’s daily security practices. This will help to protect your payroll.
Lastly, review all of your data and document payroll processes from end to end. Not only will these identify any potential data breaches, but it will highlight any areas of improvement.
We understand it’s a busy time for employers at the moment. So, Global HRIS are on-hand to support with any payroll security worries you may have. We’ll review your payroll system and help to protect your payroll.
Your payroll and HR team are at the core of your business. One of the most important ways to secure your payroll is to create a security culture, so everyone is aware how crucial it is to protect payroll.
You can do this in a number of ways. Firstly, invest in security training and resources for your employees. Your team should update their passwords at least every month and ensure they contain a mixture of letters, numbers and icons. Lastly, remind them to delete any suspicious emails. Train your staff well so they keep your company’s network safe.
If your payroll staff are still working from home, it’s important to put extra security measures in place. Make sure they’re aware of any latest scams and they encrypt their home wi-fi. They can do this through an update of the router’s default password. Simple steps like these can protect payroll.
If you need extra support during the coronavirus pandemic, look no further. We’ll help to protect your payroll and keep it secure.
Covid-19 continues to impact your payroll in lots of different ways. Your payroll team may still be experiencing issues with working from home, sickness or childcare issues. The pandemic we are all facing highlights how important a contingency plan is.
Every business should have an up-to-date list that shows exactly who has access to payroll. You should only allow access to your payroll to employees that have been appropriately trained. Also, make sure this list is updated as soon as new users gain access.
Aim to carry out a monthly audit of users that have access to payroll, to ensure it remains correct. If you outsource your payroll, this will likely be a regular occurrence. You should always receive updates that detail who has access to your payroll. So if you aren’t, check-in with your provider.
If your payroll is kept in-house, it’s still important to prioritise a monthly audit. Your payroll manager should review this list frequently, and make sure you involve your IT team. This can help you take quick action if any changes to access are required.
To help protect payroll, focus on your data security. Out-of-date software will leave your payroll vulnerable to cyber attacks. So, make sure you are using only up-to-date software to protect your payroll.
Your payroll software should always be up-to-date, so it’s in-line with current payroll legislation, too. A good payroll provider will carry out updates on a regular basis: these updates should ensure your software is accurate and compliant.
Are you worried about your existing payroll security? Global HRIS will work with you to protect your payroll and identify any areas to improve.
Privacy and security standards will vary for all payroll providers. So make sure you check your provider’s payroll security measures to help secure your payroll.
If you currently use an external payroll provider, ask about their approach to GDPR. You should feel confident and satisfied that your data is being securely transferred to your employees. There are also a number of accreditations your payroll provider should have. These should demonstrate their commitment to a secure payroll, like a security management certification.
Simply ask exactly what accreditations they have to put your mind at ease.
Finally, if you require additional support to protect your payroll, Global HRIS can help. We provide a wealth of payroll support, including payroll project management. Get in touch today.