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Adapting PEO Services for Hybrid Work Models: Challenges and Solutions

Adapting PEO Services for Hybrid Work Models

Why Payroll Is a Prime Target for Cyberattacks

 

The digital space is continuing to grow and evolve every day. With so much of life conducted online, it’s more important than ever to protect your personal information from vulnerability.

 

Payroll systems, however, have become a prime target for cyberattacks. They contain some of the most confidential employee information that a business manages—including Social Security Numbers, tax identification numbers, addresses, salaries, and direct deposit information. A single breach can expose hundreds of records—if not more—leading to financial fraud, identity theft, and compliance violations.

 

Cybercriminals may not even need to break into a company’s system to gain information. They may simply trick an employee into handing over credentials or clicking on a malicious link, making payroll fraud prevention crucial for any business. It’s essential for business owners, HR managers, and IT directors to know how to protect their employees and prevent data breaches.

 

Let’s dive into the types of threats facing payroll systems today, what businesses risk without proper security, and how PEOPayGo prioritizes cybersecurity in payroll services.

 

Types of Threats Facing Payroll Systems Today

 

There are many types of threats facing businesses that may not even require a hacker to gain access to their payroll system. Let’s take a look at some of the most common cybersecurity threats.

 

Phishing

 

Phishing scams occur when cybercriminals trick individuals into providing sensitive information. Many attackers will impersonate someone from the HR or IT department and send fake emails to employees to steal their login credentials.

 

Ransomware

 

Hackers may use malicious software to lock payroll systems until a ransom is paid. If the company chooses not to pay the ransom, the cybercriminals may leak the stolen data.

 

Insider Threats

 

Insider threats come from the organization itself rather than someone outside of it. Unhappy employees or contractors could misuse their access to payroll data.

 

Insecure Integrations

 

In some cases, attackers find poorly secured third-party apps connected to the payroll systems and take advantage of those vulnerabilities to get the information they want.

 

Weak Passwords

 

When employees create weak passwords or fail to use the multi-factor authentication, it makes it far easier for hackers to guess their credentials and break in.

 

What Businesses Risk Without Proper Security

 

A lack of security can have a major negative impact on a company. Here are some of the things that businesses risk when they don’t have proper security in place.

 

Financial Loss

 

Companies can face significant financial losses during an employee data breach. From incident response and legal fees to lost revenue and reputational damage, the impact of financial loss on a company can be drastic.

 

Employee Trust

When personal information is compromised, employees may lose confidence in their employer. When trust dwindles in the workplace, employees tend to walk away.

 

Operational Downtime

 

The financial loss and legal consequences that stem from compromised payroll systems could result in payroll delays and operational downtime.

 

How PEOPayGo Prioritizes Cybersecurity in Payroll Services

 

Professional employer organizations (PEOs) take on the administrative tasks of businesses like payroll, workers’ compensation, benefits administration, and risk management. Because they’re regularly handling sensitive employee information, cybersecurity is essential. Here’s how PEOPayGo prioritizes security in their payroll services.

 

End-to-End Encryption

 

This is a security method that ensures when messages are sent via their platform, only the sender and receiver can read them.

 

Multi-Factor Authentication

 

By requiring more than one form of identification, multi-factor authentication ensures only verified users can access payroll systems.

 

Regular Security Audits

 

Trusted PEOs want to make sure they’re in compliance with industry regulations and best practices. PEOPayGo undergoes third-party security audits in order to maintain that standard.

 

Role-Based Access Control

 

Ensuring permissions are granted based on user roles means a lower possibility of security threats from within the company.

 

Employee Training and Awareness

 

PEOPayGo implements training programs that help keep employees educated on how to spot phishing attacks and manage payroll securely.

 

Secure Your Payroll Data with PEOPayGo’s Trusted Protection

 

A payroll breach can be detrimental to your company. When you partner with a trusted PEO like PEOPayGo, you can rest assured that your systems are secure. If you’re ready to secure your payroll data with PEOPayGo, reach out to their team of experts today.

 

Contact us today to get the coverage and support you need!

The hybrid work model has become increasingly popular in recent years—particularly since the pandemic in 2020. A blend of working from home and working in an office environment has been shown to have a positive impact on productivity and overall employee satisfaction. When your company partners with a PEO, however, what does that mean for the services you’ll receive as a business owner or manager?

Professional employer organizations—or PEOs—handle the administrative tasks of a business like onboarding, payroll, workers’ compensation, and risk management. Relieving the administrative burden can create space for business owners and HR professionals to focus on the employees themselves. But what challenges come with adapting PEO services for hybrid work models, and what solutions can be offered?

Challenges of Managing Hybrid Work with PEO Services

 

PEOs typically offer software for both employers and employees to have easy access to things like personal data and payroll. A portal or dashboard specific to each employee can be incredibly helpful for time-tracking and communication. However, there can also be challenges when it comes to the hybrid work model.

When employees work in an office, it’s easy to see when they arrive at work in the morning and leave at the end of the day—there’s no question about clocking in and clocking out. When an employee works from home, however, there has to be accountability for when they start working and when they finish for the day.

While an employee dashboard can help make tracking time easier for your team, it also makes it easier for people to be deceptive about when they are or are not working. The hope, of course, is that every employee would be honest about the time they’ve worked, but that may be something difficult to ensure.

Solutions Offered by PEOs for Hybrid Work

 

Though there may be some challenges to managing hybrid work with PEO services, there are also many benefits. Partnering with a PEO can make the onboarding process smooth and streamlined, no matter where in the world your employees are located. Onboarding new hires can be complex, but with PEO software to help walk each new employee through the required documentation and training programs, the process is much more straightforward.

PEOs also specialize in having a full understanding of state and federal rules and regulations surrounding labor, which helps ensure compliance no matter where your employees are located. These ever-changing labor laws can be difficult to keep track of for employers—particularly when they have employees all over the world. Working with a PEO ensures your company stays up-to-date with those regulations, avoiding the issue of non-compliance.

One challenge of working remotely is keeping employees engaged at work. PEOs offer solutions to this by providing training and development programs for employees to work through within their dashboard. This not only helps employees continue to grow and evolve, but it also allows them to feel more involved within the company.

Adapting PEO Services to a Flexible Workforce

 

PEO services are easily adaptable to a hybrid work model, and advancements in technology mean even more features unfolding with time. Offering chat options between employees is a great idea going forward to help maintain open lines of communication. Without the ability to have quick, in-person chats with your coworkers at the office, it can sometimes be challenging to keep certain tasks moving forward. A chat option would help employees easily communicate throughout the day, boosting productivity and engagement.

The Future of PEOs in Hybrid Work Environments

 

Streamlined onboarding for employees worldwide, compliance with state and federal labor laws, and increased employee productivity, engagement, and overall morale are crucial ways that PEO services have solved hybrid work model challenges. Technological advancements continue to improve the way PEOs can support business owners and HR professionals in the future.

If your company has a hybrid work model and you’re ready for support when it comes to the administrative tasks of your business, reach out to the experienced team at PEOPayGo. We can help you streamline and simplify your onboarding, payroll, and everything in between.

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