Updated: Mar 5
It’s Friday and we’re already heading towards February; wow time goes fast like they say. By you time you know it, it will be Christmas 2022. Anyways back to business, it is vital that your payroll is highly secure and protected. As it contains highly confidential data such as bank details, tax codes and national insurance numbers. If you want to know how to improve the security of such private information. Here are five ways to improve the security of your payroll.
Disposing Data Properly
Whenever you are deposing of data such as bank details, tax codes, p50s, tax audits and so on. It is essential that you make sure that all data is shredded so it can’t be used again by other people to commit potential fraud. They are companies such as Shred It that specialises in waste disposal to prevent financial crimes from happening. Also not disposing of highly confidential data can be a breach of GDPR. Therefore, you should take action to make sure all your payroll documents that you no longer need is disposed in the correct manner. As GDPR fines can cost a business in the millions. Which could be money better spent on improving your business operations and hiring better talent.
Payroll data should only be accessed by certain people to prevent potential fraud from occurring. As a business you should have a protocol on who can access to your payroll data. An employee should have access to their payslips but none of their other colleagues should have access to their payslips. Make sure you have clear guidelines on who has access to such sensitive data. Also having guidance whilst a person is accessing such information also helps maintain security.
Nowadays most companies handle their payroll electronically through a payroll software. It is so important that you choose software that the correct security measures to data from being hacked and stolen. Having a Firewall in place can help improve security of your software. In addition, having an IT consultant who does regular checks on your systems can greatly improve the security measures. Furthermore, password protection measures also helps achieve better security for your payroll software.
Protected Building of Operations
Make sure that all your payroll if kept in your office or place of operations in a secure place such as cabinet that requires a key or an ID card. Also make sure only certain people such as the payroll department or authorized managers have access or know where the data are kept.
In House Training
Last but not lease make sure all your staff members are trained on the importance of securing confidential data such as payroll information. As you may get requests from third parties on previous employee information. Make sure that any data is shared in accordance with your security measures as well within the data protection regulations. As companies will try to get data from you so they can use it or sell it to third parties for economic gain. Thus, make sure that staff is trained on data protection regulations and how to not breach GDPR protocol.
Here at Quinton Oakes are always doing our best to educate you on how to make your payroll more efficient for your business as well as your employees.