2. What is GDPR’s Impact on Payroll?
Payroll deals with personal information all of the time (e.g. names, addresses, social security numbers, employee contact information, bank data, social security data). So treating payroll information with privacy and confidentiality is critical. The new GDPR requirements therefore are particularly applicable to the Payroll function and places a great burden on every Payroll team to be compliant. For many companies this means reviewing their payroll processes and controls and implementing changes to communications and data handling processes, platforms and tools to reach the new GDPR compliance standards. For example, emailing payroll data between the customer organization and the local payroll provider or storing it on local FTP servers or Sharepoints will no longer be acceptable to demonstrate stringent data protection. At a high level, every company – small or large – needs to be able to demonstrate strong controls in place around: