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Document Retention Schedules? Does Your Business Have One?

A document retention policy should include a schedule for when data must be destroyed to avoid any data theft or security incidents.

Running a business is a lot of work. No matter what industry you’re in, or the size of your business, there are certain rules and regulations that all companies must comply with. Making these regular practice is key if you want to protect your customers, employees and the future success of your business.

Since most companies retain records and create documents in some way, document retention schedules are important to establish early on. These should also be enforced and maintained regularly to ensure compliance with federal, state, and other regulatory requirements.

A document retention policy should also include document retention schedules for when data must be destroyed, how long it should be kept and the way in which it must be disposed of to avoid any data theft or security incidents.

Most document retention policies are created based on the type of confidential information included in documents and where/how they are stored. Coming up with a solid plan on how they are destroyed is the only way that data you’ve collected can be deemed safe from potential fraudsters hands. 

It is also important to understand the legal limitations and laws that govern your industry. As a business, it’s important to have a legal team review and suggest all procedures and policies you create and enforce. These professionals can assist you with sorting your documents and data and understanding how it needs to be destroyed to remain compliant so you’re not fined.

Creating a culture of security and trust is so important in today’s climate where identity theft and breaches are far too frequent. Having rules in place that you can monitor and tell others about, all help in the efforts to maintain trust.

Let Legal Shred help you create document retention schedules to ensure your business is always compliant and that all documents, data and hard drives are responsibly cleared, disposed of and destructed.

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Document Retention Schedules

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