Human resources (HR) professionals fully understand the risks of being out of compliance. Failing to adhere to complex regulations governing personnel records management can create some major nightmare scenarios for HR:
In the complex world of HR rules and regulations, the length of time you hold on to sensitive employee records matters. As retention periods vary and personnel files grow, purging documents on the required date can be difficult if your HR department doesn’t have a reliable records management solution.
The Society for Human Resource Management defines the key components of an effective retention policy as retention schedules, file access restrictions, designated record storage locations and formats, file storage security, defined document destruction methods, and consistent rules and procedures for implementation and audits.
OnBase by Hyland employee records management software minimizes risk and supports your organization’s personnel records management and retention policy by offering:
Audits are stressful, and the fines for non-compliance can add up fast, especially when they’re charged per document. Automating personnel records management allows HR to lower both the stress and costs of non-compliance.