Feature insight - payroll data and benchmarking
bank details of all employees a disgruntled employee could then decide to leak this information, which would be a serious issue. It only takes one small mistake for a data breach to occur, making it extremely difficult for HR and payroll professionals to ensure data security in today’s digital landscape. The key to data security Like many other sectors, kickstarting change in HR and payroll can be a difficult process. However, with the volume of data being generated in today’s omnichannel digital world continuing to increase, businesses cannot afford not to have the right processes, policies and solutions in place. When it comes to securely storing and processing employee data, HR and payroll departments need to look further for solutions that will enable them to navigate the new realities of today’s digital workplace. This will likely involve updating the existing technology behind many data processes. For many businesses the problem is that the technology underpinning many data processes was not designed to cope with the exponential
volumes of data that are now being generated, alongside the innovation of new applications and communication channels, which when combined result in data inadvertently escaping through the cracks. ...mitigating the threat of a data breach but also increasing service efficiencies and business agility Currently, when businesses do take steps to secure their networks, it’s often a defensive process that involves plugging holes as they appear, rather than being able to deploy proactive measures. On too many occasions, cyber-criminals get to these cracks first, which is why cyber- attacks and data leaks are rarely out of the headlines. If they ever want to escape this cycle, businesses need a proactive data management solution that is designed for
today’s digital workplace. This is where decentralised technology such as blockchain can have a major impact. Distributed ledger technology (DLT) adds a much needed and unprecedented infrastructure layer of data access and security, which can be applied to many of the challenges facing HR and payroll professionals today. DLT technology creates a single version of the data which is near impossible to tamper with or corrupt, meaning organisations can be sure that they are accessing the latest single version of the data. Control of this data can then be retained whether shared between employees internally (intra-enterprise) or between partner companies (inter- enterprise). This architecture creates a network of trust for secure data collaboration, not only mitigating the threat of a data breach but also increasing service efficiencies and business agility. The potential is there for businesses to truly transform the way they work with personal data, increasing the levels of privacy and data compliance, with HR and payroll being at the centre of it. n
PAYROLL ASSURANCE SCHEME Don’t wait until it’s too late
With penalties for non-compliance of up to £10,000 per day * , can your business afford not to be CIPP Payroll Assurance Scheme accredited?
Visit cipp.org.uk/PAS , email compliance@cipp.org.uk or call 0121 712 1000 for more information.
cipp.org.uk CIPP_UK cip .org.uk @CI P_UK
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| Professional in Payroll, Pensions and Reward |
Issue 52 | July/August 2019
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