May 2018’s new General Data Protection Regulations (GDPR) undoubtedly require considerable time and resource investment in aligning organisational infrastructure and procedures.
However, organisations will greatly benefit in the long-run from the opportunities that new efficiencies and innovations will bring.
From an HR perspective, the opportunities are many, such as better reporting, improved employee insights and engagement, and reduced risk. As the market savvy Steve Jobs said: “Innovation is the ability to see change as an opportunity – not a threat.”
Improve data management
To comply with the new GDPR rules on documentation, HR teams are likely to have to reorganise and filter employee data. This will naturally improve employee data management, which can benefit the business in many ways, including improved customer perception, quicker provision of management reports and better response to business opportunities.
Increase employee engagement
Ultimately, the GDPR exists to protect an individual’s personal data. An employee will see a GDPR compliant employer positively, as they can feel confident their data is secure and protected, and that their employer is accountable to the Information Commissioner’s Office (ICO).
Improve employee data analytics and insights
In reviewing data processes and revising how they acquire, store and maintain data, HR will be able to provide the business with improved employee data insights.
Effective employee analysis is a key competitive advantage for businesses looking for higher returns through employee satisfaction, high retention rates and increased productivity. According to Deloitte’s Global Human Capital Trends 2016 report, 77 percent of executives consider people analytics a key priority, while 44 percent use employee data to predict business performance.
Reduce business risk
GDPR compliance demands strict data access authorisation rules. This will minimise the risk of data loss, and the likelihood of financial losses and reputational damage.
Increase business efficiencies
With all employee data in one place, for example under a cloud service, HR resources will be free to focus on other business priorities. Under the GDPR, information will be more reliable and current, allowing the business to make better decisions. It gives HR the opportunity to modernise its systems and make cost-effective managerial decisions.
If your business requires training in advance of the 25th May 2018 deadline for GDPR compliance, Me Learning can help.
Endorsed by specialist data privacy lawyers Clayden Law they have developed a suite of online GDPR courses aimed at employees right across the business, from the boardroom to the reception desk. To find out more click here.