Top 6 Payroll Operational and Compliance Risks
Even well-run payroll teams face ongoing risks. Operational missteps can disrupt processing, accuracy, and timeliness. Compliance lapses can expose your organization to legal penalties and erode both employee engagement and brand reputation.
The six biggest risks include:
- Payroll technology and systems — outdated tools and tangled integrations that put sensitive data at risk
- Regulatory compliance — falling out of step with shifting labor laws and tax rules
- Inaccurate recordkeeping — small errors that compound quickly across a workforcex
- Employee misclassification — getting the contractor-vs.-employee call wrong (and paying for it
- Late payments — processing delays that hit employee trust and trigger tax penalties
- Sudden lack of resources — turnover, M&A, or hiring gaps, leaving the team shorthanded
For organizations using Workday, the best way to overcome these risks is with a Workday-native payroll service partner like OneSource Virtual. Our in-tenant approach to service ensures that Workday remains your system of record, because it doesn’t rely on maintaining separate integrations or syncing data back and forth between systems.
What you'll find in the infographic
The infographic walks through each of the six risks, their real-world impacts, and specific actions you can take to minimize them.
If you're trying to stay ahead of payroll risk, download the infographic for a clear picture of where your exposure is highest and what to do about it.
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