In an industry underpinned by data, it is unlikely that the acronym ‘GDPR’ is an unfamiliar term to those working in executive search. In May 2018, the rules and regulations regarding the way in which data is stored, shared and moved will change dramatically, and this will have a significant impact on the working practices of the executive search professional, whether working for a search firm or in-house.
With a plethora of information available, this five part insight series will provide a general overview of the GDPR, highlighting three key areas for consideration when preparing for the changes to data protection legislation as well as addressing some frequently asked questions.
An overview of GDPR
GDPR or General Data Protection Regulation will come into force in the UK by May 2018 and will safeguard European Union citizens with respect to their data privacy rights. The legislation will impact all organisations that are either based in, or do business in, the EU. In essence, the legislation will give individuals greater rights and control over their data by way of consent as well as the power to access, rectify or erase information held and the right to be informed.
What do the changes mean for executive search?
There is no doubt, the changes to GDPR will have a significant impact on the executive search profession. Any firm that operates in the EU, has clients that operate in the EU, or that processes data on EU citizens are subject to these changes in legislation, regardless of where information is stored, whether it is held in emails, a database or in spreadsheets. The rules will have a similar impact on technology suppliers to the industry, with those who act as a data controller or data processor also bound by and required to comply with the changes to GDPR. Executive search firms and in-house teams will have to show that their systems and technology are compliant.
With severe non-compliance penalties of EUR20 million or 4% of worldwide turnover, GDPR will make organisations more accountable for their approach to data and the changes must be given appropriate consideration.
To ensure you are well informed and aware of the implications of the GDPR, register your place at a complimentary breakfast briefing on Wednesday, 21st June in London
Breakfast Briefing – The GDPR: what does it mean for executive search
Wednesday, 21st June, 8 – 10.30 am, London
At this executive breakfast briefing event for C-level search professionals, three specialist speakers will share their insights on the latest developments to the GDPR, the key areas for consideration and the steps you can take to minimise risk of non-compliance. Register your place.
For additional information and resources relating to the GDPR visit www.invenias.com/gdpr or to request a free no obligation demo with a member of our experienced team to learn how Invenias will transform your search process.