Alma Talent survey: The new Data Protection Regulation and its effects are still fairly unknown among decision-makers in Finnish companies

Alma Media Corporation          Press release                30 November 2017 at 10:00 AM 

ALMA TALENT SURVEY: THE NEW DATA PROTECTION REGULATION AND ITS EFFECTS ARE STILL FAIRLY UNKNOWN AMONG DECISION-MAKERS IN FINNISH COMPANIES 

Some two thirds of decision-makers in Finnish companies only had superficial knowledge of the EU’s Data Protection Regulation and its effects. About one fifth had not even heard about it. According to a recent survey, small companies and entrepreneurs are still not very well aware of the new regulation. In addition, only a few have prepared for the changes possibly introduced by the regulation.  

Commissioned by Alma Talent, IRO Research Oy conducted a survey on the preparedness of Finnish companies to adopt the EU’s General Data Protection Regulation, which shall apply from May 2018. 59% of the respondents only had fairly superficial knowledge about the new regulation and 18% had not even heard about it.  

The respondents regarded bureaucracy and the lack of resources as challenges. According to the respondents, the most difficult thing with regard to data protection and preparing for the new regulation, for example, was the ability to demonstrate and document that their operations comply with the new regulation. Challenges are also caused by data administration and data protection (29%) as well as the necessary changes to IT-systems (28%).  

According to the survey, companies with revenue exceeding EUR 40 million were the best prepared because they had both legal experts and employees specifically appointed to deal with data protection matters. In the companies, IT and HR also contributed to data protection, whereas in smaller companies the responsibility lies especially with the senior management. 

As expected, persons working with registers and databases come best prepared for the introduction of the General Data Protection Regulation. 54% of the respondents in that group felt that their companies have become familiar with and actively launched measures required by the new regulation. In addition, the companies have already assigned responsibility for the measures to specific persons (64%) 

Companies have prepared for the requirements of the Data Protection Regulation by arranging training for their personnel (54% of the respondents) and auditing their policies (43%). 21% of them have acquired help from a consultation firm. They still need further support in the form of materials and training.  

– General Data Protection Regulation concerns nearly all companies and affects many of their tasks. Therefore, it is not a question of a project concerning only the IT or Law department, but everyone processing personal data should update their knowledge and develop their competence. For example, the data controller’s responsibility regarding the new regulation cannot be outsourced, says Director Maria Ampiala from Alma Talent’s Books and Training business.  

– With training and securing the availability of information, we can promote the implementation of the measures required by the regulation in companies and, at the same time, ensure the personnel follow the new regulation in practice, Ampiala says. 

More information: Business Director Maria Ampiala, Alma Talent Oy, tel. +358 40 342 4608, maria.ampiala@almamedia.fi 

The survey commissioned by Alma Talent from IRO Research was conducted on 6-10 November 2017. There were 501 respondents. 

Focusing on Alma Media’s Financial and Professional media and book, training and information service business, Alma Talent produces content for professionals in the fields of business and finance, law, management, HR, sales and marketing, technology and health care. Alma Talent publishes professionally interesting content that reaches the majority of Finnish decision-makers and those involved in decision-making. More information: www.almatalent.fi  

Alma Media in brief

Alma Media is a media company focusing on the service business and journalistic content. The company’s best-known brands are Kauppalehti, Talouselämä, Affärsvärlden, Iltalehti, Aamulehti, Etuovi.com and Monster. Alma Media builds sustainable growth for its customers by utilising the opportunities of digitality, including information services, system and expert services and advertising solutions. Alma Media’s operations have expanded from Finland to the Nordic countries, the Baltics and Central Europe. Alma Media employs approximately 2,300 professionals (excluding delivery personnel), of whom approximately 30% work outside Finland. Alma Media’s revenue in 2016 was EUR 353.2 million. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com.

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