You may have heard the term GDPR in many blogs and forums lately, but what does it mean? The General Data Protection Regulation (GDPR) is a European Union regulation designed to give individuals control over their personal data. GDPR goes into effect on May 25, 2018, so it is extremely important for HCM and Payroll professionals and their organizations to fully understand both the terms of compliance and the potential risks of non-compliance.
Both data controllers, who determine the purpose and means of processing personal data, and processors, who process for controllers, are affected by this new regulation. Organizations that offer goods or services to – or monitor the behavior of – EU data subjects as well as those that process or hold the personal data of EU residents are subject to this regulation. In terms of enforcement, the potential fines for non-compliance are large. Organizations in violation can face penalties of up to 4% of annual global revenue or €20 million, whichever is greater.
Answers to 12 Questions Every SAP SuccessFactors Customer Should Know
It is imperative that HCM and Payroll professionals (and all of those responsible for employee data) understand the terms and purpose of the GDPR. In this article, we will answer 12 of the more commonly asked questions about GDPR. Complete the form below to download the free article.