An alarming study has revealed that more than a third of global businesses are unsure whether they are compliant when it comes to data privacy.
The study, sponsored by Watchguard Technologies, found that 37% were unsure if they needed to comply with the General Data Protection Regulation (GDPR) – the most important change in data privacy regulation in 20 years, which comes into force on 25th May 2018.
The study, which examined the views of more than 1,600 organisations, also highlighted that of those businesses who don’t believe the law applies to their organisation, 14% collected personal data from EU citizens, whilst 28% of organisations who were unsure about GDPR compliance also collected the same data, meaning that the regulation does indeed apply to them.
Organisations found to be in breach of the Regulation can expect administrative fines of up to 4% of annual global turnover or €20 million for the most serious infringements – whichever is greater.
2018 is also expected to bring with it a number of employment law changes, including changes to tax treatment of termination payments, gender pay gap report deadlines and shared parental leave extended to grandparents.
Whether you are an employer, an HR professional, or have responsibility for managing personal data or data protection in your organisation, make sure that your business is prepared for the GDPR and employment law changes on the horizon.
To help businesses across Cornwall get up-to-speed with these impending changes, Cornwall College Business (CCB) are holding their next free-to-attend Business Networking Breakfast at The Business Space, Truro on 23rd November (7:45am to 9:30am).
Guest speakers from Foot Anstey LLP, one of the UK’s top 100 law firms, and Bluegrass, a Devon-based IT Support Service Provider with extensive GDPR knowledge, will help delegates to prepare for the employment law changes that 2018 has in store.
Sally Foard, Head of CCB, said: “It is incredibly important that businesses are proactive in understanding what these new regulations mean for them, identifying potential risks and the changes that need to be made in the workplace.
“2018 will soon be upon us, staying on the right side of the law whilst remaining competitive is going to be a major focus for many businesses next year”.
If you would like to book your free place at the next Truro Business Networking Breakfast on Thursday 23rd November, please contact CCB on 0800 731 7594, email firstname.lastname@example.org or visit www.ccbtraining.co.uk .