5 Key Elements in a Document Retention Policy

My colleague, Kristin Kreuder wrote about 5 Key Elements in a Document Retention Policy: Who, What, When, Where and How:

"A document retention policy is a set of practices adopted by a company to guide how documents, records and other important information are to be stored, saved and destroyed. Companies adopt document retention policies for any number of reasons, but many do so in order to comply with state and federal laws mandating either specific retention periods for certain types of records or document destruction protocols. A comprehensive policy also plays a critical role in helping to determine the existence and location of certain records in the event of litigation. At a minimum, these policies can help to control document storage costs by eliminating retention of any records whose maintenance may no longer be necessary or required by law. No two document retention policies will be exactly alike since each policy depends on the specific legal requirements to which a company is subject and tends to reflect a company’s particular priorities. In spite of these variations, the following points should be addressed in any document retention policy..."

To read the rest of the article, including an explanation of each element (WHO, WHAT, WHEN, WHERE & HOW) click here: https://www.outsidegc.com/blog/5-key-elements-of-a-document-retention-policy