Record retention schedule is formulated by legal guidelines and business needs

by on July 8, 2009 · 0 Comment POSTED IN: HR Info Center

Record retention schedule is governed by how long the document has value to the company and employee

How long do we need these documents to run our business? This is the core question behind a record retention schedule. If it’s necessary to keep those documents around longer so that your business can run smoothly, by all means, keep the documents. So this is not just a legal compliance issue. This is also a business operations issue. Why keep personnel records? In other words, what’s the purpose of the personnel records?

An effective records retention schedule keeps the documents you need at your fingertips
Imagine that you’re at your job one day and an employee approaches you asking why they didn’t get the promotion. This is very likely if your are human resource professionals or personnel professionals, who have been known to have this question from time to time. This can be a very serious question.

Why a record retention schedule is important

A record retention schedule makes information available to the employee and the company. I talk about information that’s going to be valuable to the employee and the company, I’m thinking of things like employee performance evaluation so an employee knows what he or she is doing well and what he or she needs to improve upon to move up in the organization.

For example, a candidate who didn’t get a promotion probably could be mollified by a reference to a previous performance evaluation which said that he needed to learn certain other computer programs.

So, along those lines, you want to keep the personnel records just for information to make sure that the employee knows where he or she stands in the organization.

Edited remarks from the Rapid Learning Institute webinar: “Personnel Document Retention: What to Keep, How to Keep it & Why it Matters” by Matthew Gilley Esq.

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