Every organization needs to keep a backup of their proceedings and various activities. Before computers were incorporated, large shelves of files containing hard copies of records were maintained. This old system of record keeping was done in the form of a library where relevant files were stored in alphabetical order, serial numbers or subject wise. Today, proper data retention and storing is extremely essential as analysis of these records helps the company to learn from past business trend patterns, preparedness with regards to legal issues and many other critical fields of operations.
How to get in the schedule:
The first step towards an effective record retention schedule is to assign a team of individuals, preferably from all the levels of hierarchy. Each one of the employees can contribute their insight into the process that will help to filter data. A call needs to be taken as to what documentation needs to be handled internally and what task should be outsourced. This basic roadmap will help to build the schedule. Post this; a thorough inventory needs to be taken of all documentation in the company. This will give an idea about the scope of work. Taking inventory may be time-consuming. But its main benefit is that it helps to classify the documents into various categories. A proper record management process needs to be inked out, and policy needs to be put out in black and white.
What is your company’s record retention policy?
Some of the salient features of a record retention policy will include clear-cut division of responsibilities of maintaining various sections of the record — a designated location for keeping records and properly outlined disposal methods for the same. The ideal retention schedule will cater to the unique needs of your organization.