Effective record management is the backbone of operational efficiency and compliance for businesses. This Record Management Policy provides a structured approach to organizing, retaining and disposing of company records while adhering to legal and regulatory standards. This tool equips organizations with the capabilities to safeguard sensitive information, reduce unnecessary storage costs and ensure timely access to critical documents. Designed for ease of implementation, it helps businesses mitigate risks associated with data mismanagement and fosters a culture of accountability and systematic record keeping.

This tool includes eight samples, each addressing a distinct aspect of record management. Sample 1 introduces the foundational policy for record retention aligned with legal requirements. Sample 2 emphasizes systematic procedures for managing company records, while Sample 3 focuses on the protocols for off-site storage and retrieval. Samples 4 through 8 provide detailed retention schedules tailored to various types of records, from financial statements to personnel files. Sample 9 highlights confidentiality measures for privileged documents and outlines best practices for document disposal. Collectively, these samples offer a framework to navigate compliance challenges and optimize record management processes.

Sample procedures include:

• Records must be stored in the boxes provided by the off-site storage facility. Contact maintenance for box supplies.
• Withholding tax and employment tax returns should be maintained for seven years.
• Departments generating nonshred items will deposit their material into a standardized black waste receptacle to ensure proper separation.
• Records must not be destroyed before the prescribed retention period has expired.