Can you believe how much people will seriously pay for a safe? Cardboard boxes are right there — usually for free! So long as they don’t get wet, burned, torn, rattled or tampered with in any way, they’re practically the same thing!
Except they’re absolutely not. This applies to HR technology, too! In fact, a December 2021 survey from Pollfish and commissioned by Paycom of 800 C-level executives revealed 87% believe security is important when evaluating new workforce technology. At the same time, only 27% of respondents said they have a definite contingency plan for if they experience a significant HR and payroll outage.
Yet for some, the differences between tech providers are a bit harder to grasp when you can’t easily see them. Like a particularly flimsy box, let’s break this myth down:
Painful for leaders, detrimental for employees
When security measures fail, everyone loses. But some have the potential to lose far more than others. According to the American Payroll Association, nearly 69% of employees would experience financial difficulty if their paychecks were delayed for a week.
Most leaders know when their staff is in trouble, so are their operations. This may explain why, according to the Pollfish survey, 60% of business leaders said they would switch HR and payroll tech providers if they experienced a significant outage because of a security issue.
That’s the thing about security: Provided it’s working as intended, most of your employees won’t need to think about it. But the moment it’s compromised, HR and payroll security can outweigh virtually every other concern.
Security simplified
Let’s consider the safe again. While the best models will withstand nearly every natural disaster you could think of, you still have to be able to open them. Similarly, HR data needs to be protected, but it also needs to be readily available whenever and wherever employees need it.
When employees have access to their information through one login — and just one password — it addresses some of the biggest security risks. For instance, if employees have access to everything they need to manage their HR life cycle through one fully encrypted, single-database system, they don’t have to exchange this important information through less secure channels like text, emails or, worst of all, sticky notes.
And while great HR tech makes lives easier for employees, it should also provide evidence of its enhanced security measures, including:
- ISO 9001, ISO 22301, ISO 27001 and SOC 2 certifications
- 256-bit encryption
- multilevel, customizable user logins with audit trails
- a 24/7/365 security command center
Unlike our old friend, the cardboard box, HR tech should be easy to access for those who need it and impenetrable to everyone else.
For what it’s worth
Today, many leaders have seen enough headlines to know their organization’s security matters. This may explain why, in the Pollfish survey, 63% of executives said they would pay more for HR tech they knew was more secure than other options. Similarly, in a 2020 OnePoll survey, 67% of employees said they would be willing to take a pay cut for tools that are twice as good as what they’re currently using.
Like a lock and key, greater security and a better experience go hand in hand with the right tech. After all, when leaders and their HR professionals are confident their employee’s data is secure, they have the opportunity to spend more time and energy on strategies and initiatives that elevate the entire business.
Check out our YouTube series to unravel other HR Myths. And explore Paycom to see how it unites exceptional security and a better employee experience into one easy-to-use app for HR and payroll.
DISCLAIMER: The information provided herein does not constitute the provision of legal advice, tax advice, accounting services or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional legal, tax, accounting or other professional advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation and for your particular state(s) of operation.