construction; government contractor and technology; not-for-profit; real estate; emerging growth companies
business advisory; risk services
Abstract:
Almost any self-help guru will tell you to clear out clutter and simplify your life. This usually includes throwing away old papers and files that seem to pile up everywhere, never to be looked at again. But while it's true that we all need to dispose of unused or unwanted items every once in a while, tossing the wrong paper or deleting a necessary file can have dire consequences, especially for a business.
Welcome to the world of document-retention policies, which are guidelines to help you determine when to toss and when to keep. The objective of a document-retention policy is to reduce the volume of paper or data in storage, meet legal requirements for record-keeping and stem paranoia. Policies can vary greatly from general procedures to extremely specific instructions, and neither is necessarily right or wrong.
Tossing the wrong paper or deleting a necessary file can have dire consequences - especially for a business.
What's important is to have something in place to help you determine what you need to keep and what is OK to trash. Please download the below PDF for some general guidelines pertaining to document retention that will serve as a good starting point if you feel that it's time to develop or re-evaluate your personal or company policy.