Another solution (cf to @Raoul722 comment) is the following:
It is easily feasible with a mix of symmetric and asymmetric encryption.
Assume each user $k$ have a key pair: $(K_{pub}^k,K_{priv}^k)$.
The admin also have his key pair: $(K_{pub}^{admin},K_{priv}^{admin})$ where $K_{pub}^{admin}$ is known by all.
Encryption scheme for a user $k$:
- generate a random key $K_{sym}$.
- Encrypt your file with an asymmetric encryption devices such as AES with $K_{sym}$.
- Encrypt $K_{sym}$ with asymmetric encryption (RSA, ECC...) with the
$K_{pub}^k$, let's call it $K_k$.
- Encrypt $K_{sym}$ with asymmetric encryption (RSA, ECC...) with the
$K_{pub}^{admin}$ let's call it $K_{admin}$.
Decryption scheme for a user $k$:
- Decrypt $K_k$ with his private key ($K_{priv}^k$), he will get $K_{sym}$.
- Decrypt the file with $K_{sym}$.
Decryption scheme for a user $admin$:
- Decrypt $K_{admin}$ with his private key ($K_{priv}^{admin}$), he will get $K_{sym}$.
- Decrypt the file with $K_{sym}$.
The sole problem is where do you store the encrypted keys: $K_{k}$ and $K_{admin}$ (maybe in the meta-data of the encrypted files? :) )
About the key privacy: In this scheme, having an asymmetric scheme prevents the admin to know each user's private key.
Note: this kind of scheme is useful in the company in the following scenario. Assume that everybody encrypts his files. One happens to have a lethal accident (R.I.P.), how do you retrieve his work?
The problem that will arise is the safe storage of the master key (usually off-line and sealed to prevent malicious usage).