We’re excited to announce that when the General Data Protection Regulation (GDPR) goes into effect May 25th, our Papaya Platform will be fully compliant so you can be too!
The GDPR will impact companies of all sizes who process, manage or store information of EU citizens, regardless of where they are in the world. Because of this condition, the GDPR applies to a majority of companies in the world, and almost every company looking to grow rapidly. Companies that fail to ensure complete compliance by the date the regulation goes into effect will be subject to heavy fines (up to 20 million EUR or 4% of annual revenue) as well as suffer reputation damage.
GDPR is so important because it is the first major regulation to immediately address digital data and privacy issues. Under the GDPR, individual citizens are given stronger control of their digital data, and companies are obligated to have solutions in place to ensure that information is not transferred in un-secure formats (such as emails), information can easily be accessed, modified and deleted by individual citizens, and is protected with the highest encryption levels.
For companies that are currently undergoing, or even considering global expansion, this is a critical regulation that cannot be taken lightly. Whether you create local entities in each new country or work with PEO’s and external suppliers to manage a global workforce, you are responsible for the information of each employee.
Because of the liability each company will have to assume, having a GDPR compliant Global Human Resources Information System (HRIS) in place is critical, and that’s exactly where our good news comes in!
Our GDPR compliant platform ensures you meet all GDPR regulations while simultaneously ensuring compliance with local regulations so you can grow globally worry free.