Have a Records Management Policy and Stay out of the Headlines

by on July 6, 2009 · 0 Comment POSTED IN: HR Info Center

A Records Management Policy can save you from endless headaches

So, here are some various rules of thumb for the formulation of a records management program. This is how you keep all that stuff for all that time.

A records management policy is especially important these days so that you don’t end up in the headlines along with the likes of let’s say Enron or Martha Stewart or a very large Wall Street bank that will remain nameless on here at least that had a very hard go of it down in Florida.

They kept finding different backup tapes containing different emails that have been produced. The judge finally lost confidence in their ability to certify that they have produced all the documents that they had ever had in their possession. And because of the various shenanigans that went on, the judge really ended up slapping them around for their inability to control their records.

So, that’s issue number one for why you want to have a records management policy, but there are plenty of other issues as well. It helps you identify the documents and information the company produces and maybe even cut down on some of the records that you produce as being unnecessary.

It also helps you control how long you need to keep those documents for your business needs and to meet your legal obligations. That way you don’t have paper just sitting around for years and years and years when there is no business or legal need to keep them around. And it also provides direction as to when and how you’re going to destroy these various types of information.

So, implementing a records management policy really involves you bringing a lot of different people to the table. What you need to do is assess the documents and information that your business produces and determine how long you need that information for business purposes.

Edited Remarks from “Personnel Document Retention: What to Keep, How to Keep & Why It Matters” by Matt Gilley

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