RECORDS RETENTION SCHEDULE: WHY CONSISTENCY AND COMPLIANCE ARE VITAL

 

The records retention schedule (RRS) is perhaps the most important tool available to achieve consistency, risk mitigation and compliance. Organizations must ensure the RRS is always up to date, properly reflects record holdings and is consistently implemented across the enterprise.The records retention schedule (RRS) is perhaps the most important tool available to achieve consistency, risk mitigation and compliance. Organizations must ensure that the RRS properly reflects record holdings, is consistently implemented across the enterprise and is always up to date. For more at Records retention schedule RRS.

What Is a Records Retention Schedule?

Essentially, the RRS is a listing of all records in an organization — otherwise known as a record series — and is typically organized by function, such as legal, finance, human resources, etc. This policy document defines an organization's legal, compliance and operational business record-keeping requirements. It should be seen as a cornerstone piece of any successful records management program since it states how each type of record should be managed during its life cycle and what should be done with it once it has reached its full retention period. The RRS applies to all records regardless of format or media, making it a critical tool in achieving enterprise-wide consistency.

 

Things to Keep In Mind

Whether developing a new RRS for an organization or updating an existing one, it important for records and information management (RIM) professionals to ensure that the business areas with which they work fully understand the scope of the initiative; this way, nothing is overlooked. Once the RRS is developed and implemented, it should be regularly reviewed so appropriate updates can be made. There should also be an ongoing business process in place to add new items to the RRS. Staff members should be aware of this process to guarantee that the RRS is always up to date.An organization's RIM professionals and other stakeholders need to make sure the RRS is being consistently implemented across the enterprise. Many organizations have seen inconsistent implementation of their RRS because not enough importance was placed on following RIM best practices to integrate retention rules to new and existing document management systems. In a situation like this, it is important to gain support from senior management and have an accompanying change management initiative to help with user adoption. For any organization, having a records retention policy that is not followed is worse than having no policy at all because it brings even greater risk for noncompliance. For more at Records retention schedule RRS.

It may not be enough to rely on internal resources to achieve consistent implementation of RRS across all types of records in an organization. Organizations can partner with external consultants and vendors to build a customized solution that will improve consistency, increase compliance and reduce risk.