I accidentally became an RRS (records retention schedule) nerd overnight. It happened by inches. One minute I was gazing into the abyss while eating soup in the bathtub, and the next minute I was vehemently informing my friends about how if you keep a record for shorter than you’re supposed to, you can get in serious trouble, and if you keep a record for LONGER than you’re supposed to, you can also get in serious trouble. They looked slightly windblown, but also (I hope) impressed, as the wealth of this knowledge dawned upon them.
From the time of its inception, any organization (non-profits included, churches I’m looking at you) create, store, and dispose of information. Any time you write anything down, electronically or on paper, that captures a business decision, that constitutes a record. That little receipt from when you purchased a stapler? Record. The new hire form? Record. That email telling your boss that you’re going to book the company lunch at McDonald’s? Record. That CD of photos from the company picnic? RECORD. It’s ALL A RECORD.
Which is, like, ostensibly fine. Everyone is creating records, all the time, they just don’t know they’re doing it. Which is why it’s hilarious – to me – when ANY organization says, “We don’t really have or need a records program.” Good lady. Kind sir. Other gender-neutral non-binary term. I say this with the utmost fondness – you already have a records program. And thusly, you already have a records retention schedule. It has already happened. In the words of Aragorn to Theoden King in the Two Towers, “Open war is upon you, whether you would wish it or not.”
And as I often say to my close friends, just because I’m dramatic doesn’t mean I’m not right.
So now you know you have records, and now you know they have to be treated – legally and industry-wise – as such.
So what IS a records retention schedule?
A records retention schedule is simply a high-level overview of ALL of the different kinds of information you create, keep, and maintain, and it specifies how long you must keep each type of record before disposing of it, in accordance with your information destruction procedure. And it is NOT – I repeat, NOT – just “seven years for everything.”
Additionally, if you don’t have a documented information destruction procedure, one needs to be created – this can be done either before or in tandem with the records retention schedule.
Now, MOST companies will just keep everything in perpetuity and think to themselves, “We’re good legally, we still got everything!” But unfortunately, this is simply not the case. In fact, you’re quite bad legally if you still have everything (depending upon how long your company has been running for).
HOWEVER. A lot of companies may not get audited frequently, and some don’t EVER get audited, so the cost-benefit analysis doesn’t add up for them. Now, I personally feel that every organization, regardless of how closely they’re being watched, should have one. But if you’re not in an industry that isn’t regulated, or you’re very small, or you’re just out here vibing, it’s not necessarily deeply imperative that you DO have one. The corner convenience store, for example, will most likely not have an RRS, and there’s no one standing around being like, “Why do you still have these receipts from 1996? That’s a heavy fine and time in jail.” I guess the legal system has bigger fish to fry. Not me, though.
Here are some examples of organizations that should absolutely, imperatively have a records retention schedule :
1. Non-profit organizations – Churches. Please. I beg you. Stop keeping everything forever. Because of non-profit legislation, you will be in so much trouble, and not even Jesus will be able to fix it. Also, sometimes churches get involved in legal disputes. As soon as lawyers get involved, the paperwork becomes not only crucial, but life-saving (or incriminating, as the case may be).
2. Medical clinics/organizations/companies – for obvious reasons, the medical industry is heavily regulated by the government, AND they also have that whole privacy thing going on. If privacy is a big deal in your industry, you need an RRS.
3. The legal profession! But most lawyers know this, and MOST law firms already have an RRS in place. If you are a law firm and you do *NOT* have an RRS in place, I am clutching my pearls. I am in a paroxysm of shock. I need medical assistance. Someone call 911.
4. The mining profession? – did you know the mining industry is heavily regulated? I didn’t know that, but now I do. Honestly, I thought mining was a thing of the past. I thought it was like a cute old-timey thing that used to happen when everyone thought there was a bunch of gold in the Klondikes in the 1800s. BUT, dear reader, THIS IS NOT SO! Mining is alive and well, and honestly, thoughts and prayers for those people. I could not for even five seconds tolerate the amount of discomfort that they endure on a daily basis. But if you’re working for a mining company and you ask ANYONE in a position of authority, “Do we have a records retention schedule?” And they simply have zero concept of what witchcraft you are speaking, that is a bad sign. I repeat : this is a sign that there is a disturbance in the force, and you will need to hire me immediately to rectify this egregious oversight (that’s a quote from Disney’s Hercules.)
5. Oil & Gas –I have to give credit where credit is due. Oil and Gas companies are so heavily regulated that they HAVE to have their stuff together vis-à-vis recordkeeping, or the auditor will find out and they will be shut down. If they cannot find records or the records have been pre-emptively destroyed when an auditor comes to call, it is not – as Alexis Rose would say – a cute look. Out of all the industries, they’re one of the “most likely to get found out” if they aren’t keeping their records exactly as the government and their regulatory body is telling them to. It’s like George Orwell’s 1984 over there. I’m not mad about it.
6. Accounting Firms & Banks – is there anyone who keeps better records than an accountant? Amazing. Inspiring. Iconic. I have no follow-up questions at this time.
7. Higher Institutions of Learning – This includes, but is not limited to, Hogwarts School of Witchcraft & Wizardry
Find the full list for Alberta here : Federally regulated industries – Employment standards exceptions | Alberta.ca
If you have realized that you need a records retention schedule and you don’t have an official one, consult a professional. There are lots of little finicky bits of sneaky information & processes that need to be thought of when creating a Records Retention Schedule that will work for your organization.
For a free consultation….well, you know where to find me.
Love and Kisses,
MJB
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