Today's younger workforce, the ones we like to call Millennials (aged 18 – 35), are switching jobs faster than the older generations, and that poses a security risk. This is according to a new report by storage and information management services provider Iron Mountain. The idea is simple – every time a person works somewhere, the HR department must store certain amount of information on them. That information remains within the company long after they've gone, and often longer than the company is legally required to keep it.
If the company gets breached, the data lying around might get stolen. Now, with people switching jobs as frequently as they do nowadays, means the amount of data on them rises fast, and with it – the possibility of data theft. Iron Mountain's research says that half of mid-sized European businesses have outdated HR records management processes. Almost a third (31 per cent) store HR documents longer than they are legally entitled to, and a quarter (25 per cent) don't know their legal requirements.
“The days of a ‘job for life’ are long gone,” comments Sue Trombley, Managing Director of Thought Leadership at Iron Mountain.
“Imagine just how many clocks will be ticking in every HR department – all set to go off at different times five, six or more years into the future. It’s notoriously hard to get event-based retention right and many organisations will be uncertain whether or not they have disposed securely of information when they should have. If you keep records for longer than their designated retention period, you can find yourself on the wrong side of the law, putting your organisation’s information and reputation at unnecessary risk.”
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