Building a Culture of Trust
When it comes to managing sensitive data, we at RadarFirst understand the stakes of trust management. At RadarFirst privacy isn’t just what we do, it’s who we are and we are proud that our culture shares our customers’ deep commitment to privacy as a fundamental right.
Data Privacy is an Organization-wide Initiative
Amid data proliferation, a droves of large and increasingly costly breaches, trust has taken a front seat among issues that drive business. Leading organizations have taken steps to facilitate trust-building actions by focusing on environmental, social, and governance (ESG) initiatives and diversity, equity, and inclusion (DEI) initiatives. But how can they get ahead of rapidly growing and changing data privacy laws?
Cultural change within an organization occurs when an initiative is adopted at every level of the company and brought to life to consistent actions. When it comes to building trust, the impacts of a culture of trust can ripple both internally and externally for organizations that implement change effectively.
A recent study from PwC titled Trust: the new currency for business found that 71% of consumers say they’re unlikely to buy from a company that loses their trust.
More costly still, the same study reports that 71% of employees said they’d leave a company that loses their trust. A statistic that would make any hiring manager uneasy given the challenges of filling privacy roles in today’s climate. According to the IAPP-EY Annual Privacy Governance Report 2022, “Privacy is hiring, but not enough” to keep up with the challenges of the role and growing demand for privacy professionals.
At such a rate, the responsibility to build trust through privacy doesn’t rest solely on privacy roles within an organization but must be embraced by the company at large to promote cultural change.
To begin the cultural shift to prioritize privacy, leaders should think holistically about compliance as one part of an operationalized organization.
The IAPP expresses this sentiment well in their piece How to build a ‘culture of privacy’ by saying, “In a privacy program operating within a culture of privacy, legal compliance should be one result of a successful program, not the goal.”
Privacy leaders know this well. In the event of an audit from regulators, a successful program isn’t merely demonstrating a compliant effort focused on one specific incident. Instead, they attempt to demonstrate how the incident operated within a framework designed for compliance and how a series of protocols were active to ensure data integrity throughout the incident lifecycle.
When you Build Privacy, Trust Falls into Place
To build a culture of trust that prioritizes privacy as the status quo, check out these resources
- Driving Value with Privacy: The Business Case for Automated Incident Management
- Building Trust Through Privacy Incident Documentation
- Boardroom Breakthroughs: Innovations in Trust Management