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Streamlining Onboarding Processes with PEO Support: Efficiency and Compliance

Efficiency and Compliance with PEO

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!

If you’re a business owner or human resources manager, you likely have your hands full managing current employees and working with new hires. When it comes to adding new people to your team, having a streamlined onboarding process is crucial. The onboarding process will be your new employees’ introduction to your business, so it’s important that it’s clear, concise, and engaging.

No matter the size of your company, HR efficiency is essential. It can be a great idea to have support with your onboarding processes—like new hire paperwork, orientation, and training programs. It’s also an opportunity to introduce your new employees to your company and help familiarize them with the culture.

Working with a PEO (professional employer organization) can help you get the support you need as you welcome new employees to your team. Let’s take a look at how PEOs can help streamline onboarding and ensure compliance, as well as what’s to come in the future for onboarding with PEO services.

How PEOs Streamline Onboarding

PEOs step in to handle the administrative tasks of your business, including onboarding new employees. PEOs have software that helps consolidate and simplify things like onboarding, payroll, and workers’ compensation. Companies that work with a PEO will likely have an app that’s accessible to all employees. Within the app, each new employee will receive access to their own personal portal where they can move through the entire onboarding process with ease—from entering their personal data to accessing training programs.

PEO software allows everything to be automated. This means, as a business owner or HR manager, you won’t need to worry about where new hires are in the onboarding process. You can rest assured that your new employees will have access to the materials they need at all times.

Automating these processes also means that they’ll be standardized for all employees—everyone will have the same experience as they’re welcomed into your company. Ultimately, an automated approach creates more consistency and simplicity when it comes to onboarding.

Partnering with a PEO for your onboarding processes also means you’ll have ongoing support moving forward, helping to ensure a smooth and simplified experience for both you and your employees.

Ensuring Compliance with PEO Support

As a business owner or HR manager, compliance with state and federal regulations is crucial for your organization. PEOs specialize in the administrative side of businesses, and a large part of that includes having knowledge and understanding of labor laws. They can help ensure that as you bring aboard new hires, your employees will have the necessary documents and training required to ensure compliance.

Because the onboarding process is the first step in ensuring compliance, it’s essential that all your bases are covered and nothing is overlooked. Onboarding is the best time to have your employees fill out required tax documents and jump right into training and development programs. This helps boost employee engagement and helps get your new hires involved in company culture right away.

Additionally, rules and regulations shift and change constantly, and it can be difficult to keep up with current laws. Part of the role of a PEO is to stay up-to-date with those changes and implement them accordingly for your business. When you partner with a PEO, keeping track of changes in regulations is just one more thing you won’t need to worry about.

The Future of Onboarding with PEO Services

PEO services continue to improve with technological advancements, relieving even more weight off the shoulders of business owners and HR managers. An automated onboarding process that is customized to meet the specific needs of your business is crucial for employee satisfaction and retention. It familiarizes new employees with your company culture, encourages them to get involved right away, and it helps ensure compliance with state and federal regulations.

If you’re ready to outsource the administrative tasks of your business and allow an experienced PEO to support you with your onboarding processes, reach out to our team at PEOPayGo. A streamlined and simplified onboarding experience is just around the corner!

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