More security safeguards needed for global payroll systems

With more global organisations hit by cybersecurity breaches in recent times, more payroll leaders are recognising the importance of data security.
By: | March 10, 2023

The payroll operation of about six in 10 global organisations were impacted by a cybersecurity breach at least once in the last 24 months.

Of these instances, 40% were minor breaches, 45% were a combination of minor and major breaches, while 12% represented major breaches, according to ADP’s new The Potential of Payroll report.

As part of the report, a survey of 1,468 global payroll leaders also found that data security topped the list of payroll improvements that respondents are implementing in the next two to three years (44%).

John Antos, Vice President Strategy, Global Payroll & Asia Pacific, ADP, said, “Organisations know that they must act now to protect their data or face the consequences. Almost all (98%) of the senior payroll leaders we surveyed felt that data security had become more important in the last 12 months. Concerningly however, less than half said they have a full contingency plan in place across their territories.”

Besides cybersecurity, payroll leaders also identified their top concerns in 2023 to be data security (44%), accuracy of employee pay (36%) and reporting capabilities (32%).