3 Ways to Improve Your Privacy Policy and Compliance this Month

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

Privacy laws are constantly changing – and they’re not always straightforward. Regulatory compliance is a tricky issue — that’s why attorneys specialize in this area. Don’t be afraid to use your company’s attorney or in-house counsel as a valuable privacy policy resource. We recommend researching recent case decisions in privacy compliance in your state and making sure your privacy policy is updated with the latest compliance requirements. For example, The California Consumer Privacy Act became effective Jan. 1, and enforcement of the law began on July 1. There are 11 more states following close behind with similar privacy legislation. We understand that this aspect of compliance can be daunting. Having a Chief Compliance Officer or company attorney be responsible for staying abreast of the latest legislative news can mitigate risk.

3. A Great Privacy Policy Means a Great Business Reputation

Aside from regulatory compliance, there are other benefits to investing in a secure privacy policy. Your organization’s reputation with clients, partners, vendors, and the public relies on ethical business practices. Companies that make data privacy a priority tend to enjoy higher employee adoption of compliance policies and greater goodwill among customers and business stakeholders.

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
  • When developing contracts with partners or other organizations, ensure your attorney outlines a robust privacy policy standard
  • 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:

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