New data suggests that half of all recruiters have no understanding of their data security obligations. As we launch a new guide to ensure GDPR compliance for recruiters, we consider how prepared the industry really is.
Recruiter readiness: remaining on the right side of privacy laws
With 23 weeks remaining until GDPR comes into effect, recruiting firms across the globe are implementing their readiness initiatives. At least – that is what one might assume. But new data reported this week by
Silicon Republic found that 44 per cent of HR firms had never even heard of the law changes.
Slightly more positive was the finding that four fifths of remaining organisations expected full readiness by the deadline.
And, while half of businesses have no concept of GDPR, the other half is spending big bucks on guaranteeing compliance. That, at least, is the message to be taken from data released this week by global payrolling firm SD Worx. Their survey of businesses found that 48 per cent of companies have allocated at least $1 million for readiness initiatives. Of that group, 15 per cent reported an expected expenditure of more than $5 million to attain full compliance.
Jessica Lee, a lawyer at Loeb & Loeb said: “The first trend we’re seeing is panic. For the companies who rely on third party data, there are real concerns about whether their current business model will continue to work”.
The panic may explain the high figures being thrown around in the discussion (although that may also be because many of the surveyed businesses were large multinationals). Many of these organisations’ resources are not comparable to the average recruitment start-up. Their budgeting is, however, a strong indicator of just how seriously brands are starting to take their data privacy commitments.
Ms Lee added: “there are concerns about the level of transparency and specificity needed to obtain consent.”
eBoss guide solves GDPR compliance for recruiters
This week, we published our very own guide to help clients prepare for changes in the law.
Available free of charge, the eBoss team has explored every area of GDPR, in a wide-ranging report.
Intended to bring recruitment enterprises like your own up to speed in the legal process, the definitive GDPR guide for recruiters takes you from the first steps to finishing touches.
We consider some of the key aspects that will affect the industry. The legal implications of social media strategies, recruitment software, and the handling of bulk personal data are all explained.
Although it stands for General Data Protection Regulation, GDPR could just as easily be called “global” regulation. It is the first EU privacy law to have worldwide consequences. Businesses around the globe are obliged to show compliance, or face fines in the many millions.
But despite the sensationalism concerning new penalties, there are voices of clarity among the panic, too. eBoss has set out ways to improve the overall performance of your business while making GDPR compliance adjustments. That optimistic tone was echoed this week by Lisa Jones of Barclay Jones. In a talk with UK Recruiter, Lisa highlighted the opportunities created by GDPR. Once you have picked up a copy of the eBoss guide, we strongly encourage you to follow that link and watch the video discussion as well.
UK recruiters enjoy record-breaking year
More than 9,000 new recruitment start-ups – 818 each month – were created since January: making 2017 a record-breaking year for the industry.
ClearlyPR – who used data from Companies House – found that 9,001 new businesses had formed since the beginning of the year. It is the fastest level of growth in the recruitment sector on record. The expansion takes the number of firms currently operating in the UK to 35,275. In an industry which finds staff for client companies, the sector itself is now responsible for more than 100,000 jobs of its own.
While experts have recently stated that Britain could expect a jobs slowdown in 2018, the sector saw £32.2 billion in combined revenue from permanent and temporary placements in 2017.