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. You can read an overview of the GDPR here.
Below are some frequently asked questions relating to the GDPR:
Q. What impact will the GDPR have on companies based outside of the EU?
The GDPR is focused on the rights and freedoms of EU citizens. If you are processing data on, or providing goods or services to, EU citizens, then you will need to comply, regardless of your location.
Q. Will Britain’s decision to leave the EU impact on the GDPR?
The UK Government has committed to complying with the GDPR by 25 May 2018, under the same timescales as the EU. So, Brexit makes no real difference assuming that post Brexit, the UK will have implemented the GDPR and will be deemed an adequate jurisdiction for data privacy.
Q. How will the GDPR be enforced?
The EU Commission will increase the powers of Supervisory Authorities (SAs), the local geographic data protection bodies. These will include investigative powers (audits, reviews, notifications) and supervisory powers (warnings, compliance orders, fines) and will be supported and underpinned by the rule of European Law. Member States will have individual discretion to decide the rules on criminal sanctions for infringements of the GDPR.
Q. Will the new legislation be applied to information we already have stored within our systems?
Yes. Once the act is in force it will apply to all personal data relating to EU citizens regardless of when it was acquired.
Q. What are the financial implications for non-compliance?
Fines imposed could be up to the greater of EUR20 million or 4% of worldwide turnover.
To ensure you are well informed and aware of the GDPR, join us at a complimentary breakfast briefing.
Breakfast Briefing – The GDPR: what does it mean for executive search
Wednesday, 21st June, 8 – 10.30 am, London – register your place
Thursday, 21st September, 8 – 10.30 am, Reading – register your place
At our executive breakfast briefing events 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.
For additional information and resources relating to the GDPR visit www.invenias.com/gdpr or request a free no obligation demo with a member of our experienced team to learn how Invenias will transform your search process