There is one certainty in 2019, the pressure to secure data and privacy will be greater. 2018 brought GDPR and despite many years of building awareness, many organizations failed to be compliant by May 25th.
By August, three months past the deadline, a third of European companies still had not adequately protected the personal identifiable information stored in their EU data repositories.
In the US, perhaps equally underestimating the impact of GDPR, a significant number of businesses were said to have strategically suspended activities in Europe.
GDPR, I’m confident, was the start of a global trend. One that will see organizations around the world changing the way they view privacy and personal data.
So far, there are few published accounts of GDPR breaches and the consequences of these. It is however thought that regulatory forces will come into play as we hit the one-year anniversary in May.
In 2019 we’re also likely to see the rise of the informed customer. This will highlight brands that care about customers and those that don’t. Lost customers equal lost profits. As does damaged brand value.
For CEOs that fail to see the direct value of data. They will find it when they realize they have no option but to adhere to the tightening of global data protection laws if their business is to continue.
In the US, business leaders from companies such as Google, Apple and Twitter, have said they’re keen to back national data regulation to replace current state-level laws.
It’s thought this will avoid a scenario similar to GDPR. It will also be easier to manage and comply with while still ensuring individuals maintain control over use of their personal data.
It’s not just data protection HR professionals need to consider as we move into the 2020’s. It’s how to release the value of stored data. Evidence shows that insights into people data can greatly improve business outcomes. Everything you need to know about your workforce is held in your HR data. From individual and group performance to breakdown of gender.
All the time new local, regional and global laws are being set-out to protect employees. Both sides of the Atlantic there are crackdowns on discriminatory job advertisements and efforts to prevent unconscious bias, for example.
Only by understanding the demographics of your workforce, the skills they have and the training needed to address future skills gaps can you ever hope to have a workplace that employs the best people for the job.
Beyond conscious decisions to run ethical businesses, changes will not be optional in the future. Organizations that don’t address workforce imbalances and behaviors will face potential legal consequences.
HR professionals striving to attract and retain the best talent, improve the workplace as well as protect and grow reputations, must keep ahead of changing expectations in HR compliance. This can avoid future challenges and breakdowns.
I recommend you keep an eye on The NGA HR blog for regular updates on HR compliance and legislation changes coming to you around the world in 2019 and beyond.