The EU is preparing to upgrade its data protection regulations this year, and there are changes in store for employers regarding the protection of employee data. The EU has had the same regulations regarding data protection in place since 1995. The new regulations will address the wide-ranging changes in technology over the past 20 years, and they will also try to bring into synch the various European agencies dealing with data protection.  

These negotiations represent the most significant change to data protection in the UK and EU since 1995. – Information Age

Big fines

It’s not clear yet exactly what impact the new regulations will have on employee monitoring. But one thing seems clear: the EU will be coming down hard on any companies that are not in compliance. Such companies may face fines of as much as €100m or 5% of global revenue, whichever is higher.

Companies are fast running out of time to reform their data protection processes. – Information Age

Get ahead of the curve

Here are some things you should do:

• Implement data protection best practices. For example, encrypt employee financial information before sharing it with pension providers or insurers.
• Consider hiring staff whose sole job is protecting employee data. Even small companies may have to take this step in order to be in compliance.
• Store data in a secure cloud.
• Use an employee benefits portal. This will add an extra layer of protection to the wealth of sensitive data used to calculate benefits.

Companies should also consider adding another layer of protection against internal threats by installing employee monitoring software. Many data breaches are unwittingly brought on by employees who use an infected USB to download or upload a file, or who or click on a bad link in an email. Monitoring software can alert employers to these actions and help prevent them crating irreparable damage. Visit the Digital Endpoint website for more information on employee monitoring.