Risk Management In Payroll Systems

If you are the leaders of an enterprise or Head of HR, have you ever undertaken a self-assessment of the risks in your enterprise’s payroll system or procedures? Have you ever thought about what would happen if your enterprise has problems with its payroll? How long would it take for you to discover the problem and the cause? How much time, effort and cost would be required to set things right?

If your enterprise has never conducted such an assessment you might find it helpful to consider the questions below. Answering these simple questions will help you to not only recognize and assess any risks in your enterprise’s payroll procedures but also ensure your enterprise is handling its payroll procedures with the professionalism you expect and require.

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