It’s incredible to believe that we’re already over halfway through the year. As businesses are beginning to operate fully in-person or in an in-person/remote hybrid functionality, the need for a privacy and compliance strategy is increasing. With confidential company information traveling across multiple channels and networks, it’s important to make sure your company is compliant with regulatory guidelines that protect data and privacy.
1. Regulate Data Sharing with Other Companies
While you may consider your company’s privacy policies to be very robust and secure, privacy isn’t just isolated within your organization. Depending on your industry, it’s likely that you occasionally share private data with other organizations for business purposes. Have you ever stopped to consider what other companies’ data privacy policies are like? Your compliance obligations could become intertwined with another organization. When data is passed, effective data privacy policies should include standards for ensuring data remains secured even after it’s been transferred to a third-party. Make sure part of your privacy and compliance program addresses data sharing and develop a plan to ensure information remains secure at all times – even when it’s shared with others.
2. Monitor State and Federal Changes to Privacy Laws
If you’re privacy program needs some TLC, now is the time to update it! Here are some tips to get you started:
- Include a data privacy strategy if going through a merger or acquisition
- Consider personally identifiable information (PII) storage before upgrading to a new IT system, or changing how your company collects information
- Develop a solid document retention policy for business records, customer files, HR records, tax records, and more
If you’re interested in learning more about how your company an develop a data privacy strategy, keep information secure, and stay compliant, check out these other blogs: