How the PSA can fulfil your GDPR needs9th Oct 2017
With GDPR just seven months away, we’ve all heard of it – but what does it actually mean? This blog will explore the key challenges that payroll departments face ahead of GDPR, and how exactly the Payroll Services Alliance (PSA) can help.
What is GDPR?
The General Data Protection Regulation (GDPR) is a new law that affects how businesses deal with data protection, introduced to replace the Data Protection Act 1998. GDPR will take force from 25th May 2018 and aims to bring data protection laws in line with advancements in technology. It will give individuals greater control over how their data is dealt with and impose greater fines on businesses for data breaches.
Who does it affect?
The regulation will apply not only to any organisation situated in the EU, but also to any organisation that processes the personal data of EU citizens regardless of where they are situated. Where existing laws only apply to data controllers (the owners of the data), GDPR also applies to organisations that process data on behalf of data controller: this includes HR and payroll providers.
Who are the PSA – and how can they help?
- The alliance
The PSA is made up of seven leaders in payroll services, who have combined their services into a unified offering that consists of strong local expertise, supplemented by an international level of coordination and integration. The alliance acts essentially as an extension of its members’ organisations, delivering local expertise on a global governance level, while ensuring scalability, flexibility and visibility: all important factors for companies looking to expand regionally.
- Addressing the compliance headache of GDPR
Payroll is driven by local legislation, and businesses with multinational locations need experts to ensure these laws are followed in each region to ensure peace of mind, including GDPR. As a member of PSA, not only do you have one global system of record that you can manage your entire employee population in, but you don’t have to become an expert in each region in terms of governance and compliance. Instead, you can rely on PSA to ensure you remain compliant with a ‘glocal’ mentality, whatever the legislation may be.
- Ensuring compliance of your HR and payroll business partners
For global organisations, payroll professionals can face a multitude of challenges. These include compliance with legislation in each country and partner management: both of which become more complex with GDPR in play.
GDPR makes you liable as a data controller if you do not have sufficient guarantees that 3rd parties you work with are compliant. On the contrary, strong HR and payroll business partners can assist you in becoming compliant and reduce the burden, as well as the risk.
The focus of the PSA partnership is on high quality and guaranteed compliancy rely on the unique combination of an international framework (one contract, harmonised service levels), while providing customers with packages to suit their specific needs, which in turn help them to tackle key business challenges on a global scale, with GDPR in mind.
To learn more about the PSA and find out about the benefits of going global in payroll, click here. Want to get involved in the global payroll discussion? Tweet us at @PayrollPSA using #GlobalPayroll and follow us on LinkedIn: Payroll Services Alliance.
To learn more about what the Payroll Services Alliance can do for your business, please get in touch.
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