During the depths of the Great Recession, unemployment topped 10%, underemployment was even higher, and employer were clearly in control.
Employers with a single position to fill would often receive dozens, if not hundreds of resumes, most of them from qualified candidates. Those employers were free to pick and choose from the best employees, and they were able to make smart hiring decisions in what amounted to a buyer’s market. Times have certainly changed, and these days, it is the job candidates who are in charge.
With unemployment now less than 5%, employers can no longer rely on a steady stream of qualified candidates for every position.
Instead, they must work hard to attract the best and the brightest, offering a number of perks and benefits that would have been unthinkable less than a decade ago.
The best employers know that protecting the privacy of their employees is essential in the digital age, and the results of breaching that privacy can be extremely dire.
Those smart employers work hard to protect employer privacy, both because it is the right thing to do and because it is a sound business decision.
Privacy in the workplace has always been important, but it is more critical today than ever before. Privacy issues have come to the forefront of business considerations, thanks in part to the large-scale and high-profile data breaches that have affected companies from many different industries.
From department stores and big-box retailers to restaurants and manufacturers, no company is immune to the efforts of hackers and other criminals, and a single breach can compromise the privacy and integrity of the entire workforce. Knowing that their privacy has been compromised is disconcerting to say the least, and the results of those compromises in employee privacy can be dire for both the business and its workers.
The employees who have been affected by the data breaches and resulting loss of privacy may sue their employers, resulting in high legal defense costs and a serious loss of trust. The value of the brand may also suffer, especially once the public learns of the privacy breach and the ongoing impact on their employees.
Last but certainly not least, a compromise in the privacy of the current workforce can seriously compromise the ability of the company to attract and retain qualified workers, a consequence that could be deadly to future growth prospects.