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September 14, 2018 | Research Report
In a post-GDPR world where data privacy is a growing concern, companies must earn the trust of employees, job applicants, and contingent workers if they want to continue analyzing human capital data to generate business insights. Companies need to demonstrate how they manage and protect personal data to ensure that individuals won’t be adversely affected. Only by building trust can HCA continue to leverage the growing amounts of data about workers and workplace trends. HCA leaders, therefore, should focus on stewardship and not just the science of big data, algorithms, and analytics.
BRIEF
The European Union’s new General Data Protection Regulation (GDPR) is a direct hit on companies’ use of human capital analytics (HCA). As a result, HCA leaders are concerned—and, in many cases, confused—about how it will affect their ability to deliver strategic insights to the business. GDPR offers potential benefits and challenges for HCA; leaders will need to act to ensure that HCA complies with GDPR, but not overreact, stripping HCA of its business value.
Ultimately, GDPR will be good for HCA:
In the short term, however, GDPR constrains many current HCA practices and requires companies to find ways to protect individuals’ private data:
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