The EU General Data Protection Regulation (GDPR)
In April 2016, the EU Parliament approved new regulation aimed at providing EU citizens protection and empowerment when it comes to their data. GDPR protects anyone living in the EU and therefore impacts any organization based in the EU or that does business in the EU.
By May 25, 2018, businesses must be compliant with the regulation or face financial consequences. Penalties for non-compliance of the regulation are severe with maximum fines up to 20 million euro or 4% of worldwide turnover.
We encourage everyone to learn more at EUGDPR.org.
How GDPR Affects Executive Search
GDPR greatly impacts the executive search and leadership consulting profession in Europe and across the globe. The regulation changes the parameters of data privacy and strengthens the requirements of consent. It applies to everything that firms do with personal data for people in Europe – that of their candidates, clients, and their employees.
What Clients can Expect from AESC Members
AESC is the exclusive global association representing only the highest quality firms in our profession worldwide. AESC members always respect any confidential information entrusted to them by clients and candidates.
The new GDPR regulations align with the standards of our profession and AESC is working with European regulators to develop a Voluntary Code of Conduct for Data Privacy that will be for the exclusive benefit of AESC Members. By virtue of selecting an AESC member, clients can be secure in their choice of consulting firm, and can reap the benefits that only a trusted advisor can deliver.
How AESC is Supporting our Members
Early planning for GDPR is essential. We are actively working with legal firm White & Case to interpret the regulation. AESC is offering to members three different approaches to GDPR, reflecting the variation in our global membership, in order to provide members with the knowledge and tools for them to continue to conduct business at the highest standards of excellence.
Additionally, we are offering both online and offline forums for peer-to-peer discussions as we embark on our journey of compliance. Stay tuned.