Keeping Wages Confidential
KenB
28 Posts
Is anyone aware of a method for keeping the wages of top executives confidential so that no one in HR or finance knows of them other than the CFO and the Board of Directors? We outsource our payroll to ADP and currently there is someone who handles the payroll that reports the salary amounts to ADP.
Has anyone ever run across this where you want to keep wage information for certain people in the hands of only essential people who have to know?
Any input would be appreciated.
KenB
Has anyone ever run across this where you want to keep wage information for certain people in the hands of only essential people who have to know?
Any input would be appreciated.
KenB
Comments
Our ADP services group has been most cooperative in setting up various controls/"firewalls." If you cannot work out a viable arrangement with your ADP people, Don's suggestion about bringing it in-house is your other option.
By the way, if someone really wanted to know what your (I believe it is five)top executives are earning, they can get that information because it is a matter of public record.
From a practical standpoint, it is difficult to keep such information from intelligent accounting personnel and financial analysts because the transactions do hit the books and records and show up in all the places I mentioned above. But good luck, and think of all of the places this information goes and you will find lots of holes to plug to truly keep it confidential.