Effective design of records management policy can protect your company from litigation

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

Records management policy design

You need to formulate a records management policy. A lot of cases in recent years where companies and other organizations weren’t quite keeping up with their documents as well as they should have ended up putting them behind the eight ball in making employment decisions or in defending against litigation.

Why have a records management policy?
Number one, it helps you get a handle on the situation. It helps you avoid being Lucy at the end of the assembly line there. It helps you identify the documents and information that your company produces.

If everyone tries to get everyone together and say, “Okay, what forms is this department collecting and producing? What forms are the other departments collecting and producing? What files do they have? How long do they need to keep them?”

Records management policy helps you control how long you need to keep those documents for to meet number one, your business needs; and two, to meet your legal obligation. Most importantly, it provides direction as to when each type of document will be destroyed. Records management policy tries to bring some predictability to the process..

How do you implement a records management policy?
It’s going to be different for every company. If you’re a large multi-national conglomerate, your records management policy may fill an entire three-ring binder with all sorts of protocols and steps.

If you’re a smaller organization with not too many employees, you know, a fairly decent sized accounts receivable, accounts payable operations, your records management program may just run for a couple of pages.

But at the very least, regardless of whether you’re a large conglomerate, or whether you’re a small company, it doesn’t minimize the need for a records management program. The IBMs of the world aren’t just the ones that need a records management policy.

So, what you do in implementing one is that you assess the documents that you produce and how long you need to keep it. Then, take a look at the law, which was one of the two points that I made early on.

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.

Leave a Reply


Request a Free Demo

We'd love to show you how this industry-leading training system can help you develop your team. Please fill out this quick form or give us a call at 877-792-2172 to schedule your one-on-one demo with a Rapid Learning Specialist.