This is a statement that explains in simple terms how the personal data of any user is safeguarded by an agency or organization. A privacy policy refers to an individual’s information (any details or opinions that describe you regardless of being true or false) that is provided to an organization and must be observed by anyone who has access or control of such information on its behalf. This policy pertains to contractors e.g. in corporate businesses or real estate management, job applicants or simply the operators of commercial websites that collect personalized data.
The Need For Devising Adequate Privacy Policies
The major emphasis is that a company’s privacy policy is a reflection of its actual practices, data collection and its use and security. Thus, a poorly written privacy policy which may not be understandable, is incomplete or not up-to-date may result in the company being held accountable and under the watch of the government. So investing in the advisory of a legal counsel to develop an adequate privacy policy is a must for any organization’s success.
The privacy policies are usually post on a company’s social media website through a hyper-link at the bottom of the page. Although it is accessible on-line, the practices for personal data collection that took place off-line can also be obtained through hard-copy files, audio or video records.
Is Formulating a Privacy Policy Worth the Investment?
Very few Federal and State Laws require privacy policies that too are limit to companies in certain industries collecting some specific information. No law lays compulsions for drafting an exact privacy policy for each company. Developing a privacy policy demands contribution from various stakeholders. A legal counsel, IT and website managers, human resources, sales and accounting are part of the team. Several knowledgeable sources are employed to learn how personal, medical and financial information is gathered, processed and protected, who has access to it and how editions can be made when urgent need arises.
Investing into the privacy policy leads to far-sighted benefits. There is no longer any need for unnecessary hard copy and electronic records that may be outdated, improvement in the methods to administer information, enhanced cyber security, and better communication between the stakeholders who were involved in creating the policy.
Why Privacy Policies Need to be Unique to a Company
Why is the option of copy pasting the privacy policy from another company’s social media site considering not only dangerous but also unlawful? It is a breach of copyright law and also puts the company at a great risk of moral examination.
In a hypothetical situation if a Company without a privacy policy decides to copy another company’s policy, firstly the former has no idea if the latter’s privacy policy agrees with the laws that apply to the former. Secondly, the former doesn’t know if the latter’s privacy statement is up-to-date. Thirdly, unless the former’s data collection, usage and security practices are identical to the latter, then using the same privacy policy can land the former in hot waters as this would mean unfair trade practice by not complying to its privacy policy.
What You Need to Know About a Company’s Privacy Policy
- Their name and concise detail
- Reasons for storing your private data
- What types of personal information do they collect?
- How do they collect and store your personal details?
- Procedure for requesting for corrections in your information
- How will the organization use and disclose your information
- Who can have access to your information if it is disclose?
- If the information handling practices of a company change. What website or email will be use to post the updated privacy policy?
Why do Companies/ Organizations Collect Personal Information?
- To communicate with clients more effectively
- And To learn more about the products and services being requesting from the company
- To legally carry out all services and activities
- For personalizing and tailoring the customer’s experience according to the organization’s regulations
- To easily fulfill clients’ orders and to deliver them the required services
- For marketing their products that may interest the customer
- For employment purposes when making offers to potential job applicants
What Type of Personal Information is Collecting?
The type of personal information collected depends on one’s relationship with the organization. Some instances include:
Job Applicant – seeking employment
Name, contact number, email, address, age, gender, payment details, medical history, resume, previous employment experience, qualifications, university degree etc.
Customer
Name, contact number, email, address, age, gender, passport, payment method, medical history, drivers license. And previous tenancy histories, tenancy database records and ownership records etc.
Supplier
Name, address, email address, contact telephone number, insurance policies, emergency contact, billing details, information about products and services supplied etc.
Employee
Name, contact number, email, address, age, gender, payment details, medical history, training, resignation, terms and conditions of the employment etc.
Sensitive Information
Sometimes very personalized information is also require but it is in line with the client’s approval and comfort. This may include one’s religious or philosophical beliefs, political inclinations, medical history, genetic conditions, sexual orientation, criminal records or racial background.
How do Companies Collect and Store Data?
This is done by fair means either by asking the client directly or through third party intervention.
- In person
- Emails or written correspondence
- Transactions
- Business cards
- Telephone calls
- Company’s website
- Surveillance cameras
- Application forms
- Third party medium such as publicly available sources – internet/social media
Therefore, the final takeaway is that regulation of appropriate privacy policies in 2022 is the need of the day. Investing the company’s resources into this will have unintended benefits and encourage the client’s confidence.
