Why is payroll confidentiality important?
We live and work in an era when personal information protection and privacy have never been more important. Your company’s payroll data might not be the first thing that comes to mind when you think of privacy protection, but it contains extremely sensitive information about your business, your employees, and their earnings.
A payroll information leak can result in serious HR issues, a loss of competitive advantage in the market, or even legal action.
Payroll data typically includes full employee information with the date of birth, ID and address details as well as insurance, health and retirement contributions of every employee. If this data falls into the wrong hands it can put your employees at risk of identity theft and worse.
And that’s just one of the reasons why it’s so it’s essential to maintain full privacy with a comprehensive payroll management service.
Here is an in-depth look at payroll privacy and why it’s a non-negotiable aspect of every management strategy in today’s data intensive world.
Keeping payroll information safe
Whether you manage your own payroll or take the recommended route and use an outsourced payroll solution, one of your primary responsibilities as an employer is to keep the flow of information about your employees remuneration, paid leave allocation, and deductions strictly private.
- A data leak that reveals information about your employees’ pay packages and other benefits can create serious morale issues within your team – especially if employees of a similar level of seniority receive significantly different remuneration packages.
- Payroll information that leaks outside of your organisation can be equally damaging, especially if your competitors have access to it and use it to launch a headhunting exercise to lure members of your team away.
- The POPI (Protection of Personal Information) Act places the onus on employers to keep their workers’ information safe. If payroll information is leaked, it could result in legal issues for your business.
Top payroll confidentiality with an outsourced payroll solution
Growing your business is a full-time job, and the last thing a busy entrepreneur needs is to be stuck calculating salaries and wages – especially when so much information needs to be kept 100% safe and private.
Bletchleys outsourced payroll solution guarantees a professional, smoothly running payroll management system with privacy guarantees in place. Outsourcing your payroll means you have access to all the latest technology that will also give you important insights into your payroll and HR management, saving you money and reducing compliance risk.
Outsourcing your payroll is planning ahead.