Pkware aims to take pain out of crypto (and give IT the golden key) Related: Smartcrypt (Video|Get Started) -- Tom
Yes, management doesn't like the idea of employees losing access to data through error, or hosing it for revenge.
Having been on the "side" of management, I'd observe you are the bad guy either way. You have legal requirements/liabilities and data risks and no real way of satisfying them to anyone's satisfaction (including, it has to be said, that of ethical managers). But that's the fault of rubbish laws.