Keeping Payroll Secured
Keeping Payroll Secured
There is a lot of important information in your payroll department. Not just for you, but for everyone in the company. Along with financial information and access to the company, it also has the social security number of every single employee, along with their name and address. For some, it might even have banking information if they have direct deposit. The wrong person gets inside your payroll and everyone is in danger. Even if you do outsource your payroll to an outside company, there are still risks to consider on your end. The outsource company will take various steps to ensure that your payroll information is secured. Your end of the payroll, however, is something you have to keep secure.
If you are not using an outsourced company, there is more security you need to place around your payroll. In all honesty, this goes beyond payroll. All financial information should be given the same level of security if not more. For this article, we will approach it from the viewpoint that your payroll department is performed in house. So if you are ready to trade that padlock in for some real security, read below.
Limited Access: Only the people directly involved with the company’s payroll should have access to it. Anyone who isn’t involved should only have access to their own paystubs. If a manager does not directly work with paying employees, they shouldn’t be able to get into the software.
Change Passwords: There are three times when you should change the passwords to the payroll software and records.
- When someone with access to payroll leaves the company
- When you feel security has been compromised
- At regular time intervals.
The first two are pretty straight forward. You don’t want anyone that’s not an employees having the password, even if you trust them. You also don’t want to risk the payroll information being at risk. Changing the password regularly will lock out anyone who got their hands on the password without you knowing. It is good to change it bi-weekly or monthly.
Log Out: If you are not using the software, make sure you log out of it. This counts for finishing a task or just stepping away from the computer. If it is even a quick trip to the restroom, log out of the software. Also, make sure that your computer doesn’t save your login information or anyone can use your computer to log in with just two clicks. It’s also a good idea to logout of your computer when you are not on it.
Secure Digital Copies: If you save your payroll information to any kind of storage device that is not on a computer, make sure the device is encrypted. Create a unique password so if the device goes missing or is stolen, the person responsible can not access the files. For further security, lock up the device with any hard copies of payroll. Speaking of hard copies.
Secure Hard Copies: If you have physical copies of any payroll documentation, make sure they are locked up when you are not using them. Either in a safe or in a secured file cabinet. Don’t place them in the same safe you place the money that other people have access to. Keep them in a separate safe that limited people have access to.
Use Trusted Software: There is a lot of software out there designed to handle payroll. If you are going to use any of it, make sure you look at reviews and testimonials. You wouldn’t let a stranger watch your home while you were on vacation, so why let an unknown software handle your payroll?
Outsource Payroll: You have to make sure your payroll is secure along with the rest of your company. An outsourcing company only has to worry about securing your payroll. They will use software that is secure, make sure any copies they have are locked up, and monitor it for potential threats. They also help employees access their pay stubs easily without being able to see other employee’s payroll records.
Security is an important part of any company, so why settle for less? When you outsource your payroll, you get security and convenience all in one package. So why wait, request a free quote from Vision H.R. today, your Ormond Beach Payroll Specialists.