The global pandemic we are facing today is not purely a health problem but also an economic one. Along with the issues of quarantines and lockdowns, companies are also pressured and struggling to operate and keep their stores open while the world fears of the spreading COVID-19.
Services including those given by payroll providers are crucial to their clients and their employees whose monthly salaries are essential in surviving this crisis. Thus, it is important for them to fulfill their duties for the sake of many families.
Having a business continuity plan that’s clear and comprehensive for payroll outsourcing providers is a must as part of their preparation not only for pandemics such as the one brought by Coronavirus but also of other unfortunate events spreading globally. This business continuity plan must take into account and analyzes potential impacts that can affect the business. It also has to include recovery procedures that need to be in place in case of a disaster.
Major considerations for payroll providers include physical data and office space security and management, IT for basic data security and general services quality, and a Business Continuity Plan that includes the processes and rules of the operation in case of calamity.
Companies treat payroll and the relevant personal data with outmost confidentiality and payroll outsourcing providers play a vital role in securing this information. Service providers should employ measures to protect confidential online and physical data stored in their offices. It is safe to assume that movement would be limited so it is a must to have backup and be prepared. The use of asset management tools would also become important to secure both hardware and software. Times of crisis will also highlight the value of regular employee training which seeks to prepare them in case of security issues.
During the crisis, it is advisable to allow work from home setup, or if that’s not applicable, at least limit your workforce to a skeletal unit just to make sure that operations will still push through and data remains monitored and protected. To succeed on this, a stable communication protocol must also be in place. Forming a quick response management team is also vital so there will be people in charge to troubleshoot in times of unexpected circumstances.
Managing cyber security is also one of the areas that must be focused on especially due to the advancement of technology which requires a more sophisticated approach. That’s why now more than ever, employees must have adequate training and payroll providers must issue enough policies involving secured and encrypted means of communication and data storage. Using anti-malware software is also advisable for an added security.
Meanwhile, the company’s Business Continuity Plan (BCP) should contain clear guidelines on different procedures involving employees, partners, and subcontractors. It should clarify the system of communication between each stakeholder and how the company can provide information about their employees.
It should also tackle different scenarios including the worst cases. This is where alternative workplace and setup must be pointed out. It must also discuss the directives involving how to protect confidential information and what are the backup plans.
A BCP can be improved over time through consistent testing and assessment which involves both the management and the employees. It must recognize arising threats and developments on tools and strategies which can be used as solution to whatever issue may come.
