Your employees give you the most personal and important information, like their bank account number, PAN number, AADHAR number, and other information. If you can’t keep this information safe and secure, which is a critical task in a world that’s barraged with electronic information like that, then your company is going to lose quite a lot of talented employees.
If you think with all the cybersecurity in place, that your employee information is safe and impenetrable, then think again. In a world where identity theft and cybercrimes are at an all-time high, and probably the norm, you have a lot to lose than just talented employees; you have their trust and your image to lose.
How do you ensure that your company’s employee information is in safe hands? You either follow safety norms now and then, or you outsource to a credible data handler.
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Either way, you have to ensure from your end that you have chosen the right methods because security starts with you. Nevertheless, we’ll help you establish some basic principles of electronic data safety to get you started on the right foot.
Awareness campaigns
Electronic data safety is a big thing, and once you know the laws pertaining to it, you are obliged to make your staff aware as well. You need to conduct internal training, as well campaigns to keep your staff tuned in with a data safety attitude.
Trustworthy staff
Your staff needs to be trustworthy. Are you sure that your HRMS(Human resource management system) is not leaking information? Are you sure there are no moles in the organization? Is your data security structure free of loopholes?
You should be very careful with who you impress upon the responsibility of data protection.
Additional Layer of security
Any department that deals with information can lead to a disaster even if a small mistake occurs. It’s advisable to have an additional layer of security for any information that’s being handled. For example, always double-check the methods of digital information disposal.
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Learn about state cybersecurity laws & measures
You can never be better than knowing state cybersecurity laws. Keep your staff updated on cybersecurity laws, and it’s better to always run an email circular containing all the information that your staff needs to know. You can never be too sure of how well your employees’ vital info is being stored.
Hire an expert team
A credible team of experts can always take the load off your internal team and help you stay streamlined. Look at the bright side, you have more free-minded human resources, you have saved money, and you have security experts to take care of your data.
In conclusion
Payroll management is not a small task, and data protection catering to payroll confidentiality is even more crucial. Keep your staff on track with cyber laws, keep them trained, run campaigns, and always know that no amount of security is enough for vital information.
Also, learn about our services:
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In this Article
editor
Maanoj Shah is the Co-founder & Director of Growth Strategy & Alliances at Finsmart Accounting, where he pioneered the “Accounting Seat” model—a revolutionary offshore embedded staffing solution purpose-built for Accounting and CPA firms. Widely recognized as an outsourcing and offshoring expert, Maanoj’s insights have been featured in leading accounting publications, and he regularly speaks at premier industry conferences including Scaling New Heights, Bridging the Gap, BKX, and Women Who Count.
A dynamic growth leader with over two decades of experience, Maanoj has incubated, scaled, and exited ventures across Fintech, HR, and Consulting sectors, holding various CXO roles throughout his career. His passion for scaling businesses is matched by his commitment to social impact. He is the Co-founder of Mission ICU, a national healthcare initiative that installs critical care units in underserved areas of India, and was recognized by the World Economic Forum for its last-mile impact.
Outside of work, Maanoj leads an active lifestyle as an avid tennis player and passionate golfer, blending strategy and agility on and off the court.
CONTENT DISCLAIMER
The content in this article is for general information and education purposes only and should not be construed as legal or tax advice. Finsmart Accounting does not warrant or guarantee the accuracy, completeness, adequacy, or currency of the information in the article. You should seek the advice of a competent lawyer or accountant licensed to practise in your jurisdiction for advice on your particular situation.
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