According to the California Employment Development Department, 66,100 jobs were created between September 2011 and September 2012 in Los Angeles County. As businesses grow, so does the number of records they need to create and maintain. These documents each have a specific retention schedule that is usually based on their usefulness. A retention and destruction system offers numerous benefits to businesses such as the following:
Minimal space requirements
Creating new records is a part of the daily operations of most businesses, and as new records are created, additional space is needed to store and keep them safe. Documents should also be categorized into active and inactive, with inactive documents typically requiring secure and thorough disposal. Since inactive records may contain pertinent information, they should be destroyed in a secure manner with the help of professional Los Angeles shredding specialists.
Maintaining records doesn't only require space; it also entails costs. Sensitive documents simply can’t be left lying on top of employees' desks; they need to be stored inside durable filing cabinets with secure locks. As the company accumulates documents it may need to purchase additional cabinets. By disposing of documents that are no longer relevant, such as 10-year-old sales training manual, more cabinet space can be freed up.
Fulfillment of legal retention requirements
By law, certain business documents need to be kept according to the stipulated regional or local time period. Tax-related records are usually retained for a period of three years, although in some cases, it's necessary to keep them for as long as six years due to auditing purposes. The retention period for personnel records varies depending on the document type, although employee files should generally be kept for as long as the employees work in the company.
Identity theft crimes are very common these days, and the perpetrators of such crimes often look into documents that contain credit card and bank account information. Organizations that deal with customers on a daily basis therefore need to ensure that all customer and transaction records are discarded in a secure manner when they are no longer needed. Companies can count on reliable Los Angeles shredding professionals for help with this task.
Records retained according to schedule help maintain consistency. Documents with outdated information are kept out of the way, enabling the company to keep moving forward. For more information, visit wisegeek.com/what-are-the-best-tips-for-business-records-retention.htm.
Benefits of Document Disposal with the Help of Los Angeles