Essential Rules of Record Retention
Even though you may have digital backups of your files, your business is still obligated to retain physical records for a certain period of time. The retention process in New York City is easier when you know how long you need to keep your records for, and you can use this information to create a retention policy for your staff to follow. The records you store need to be in acceptable condition so you can refer to them if you need to, which means youâll have to find a way to keep them safe throughout the retention period. Read ahead for a look at the essential rules of record retention.
Know Your Minimums
You need to keep important documents around for a specific period of time, but that timeframe depends on the type of document. Certain documents, like Bylaws and Share Transactions are crucial to your business and should be retained for as long as possible. There are other important documents that come with legal record retention periods. Most documents that youâre legally required to retain should be kept for a minimum of seven years. This includes documentation of credits, income, and employee payroll. You should also hold onto leases and contracts for four or more years after the end of the term.
Create a Policy
Knowing how long you should keep your important documents allows you to set up an effective retention policy. Record retention might not be something you think about every day, so rather than looking up the minimums every time you need to know them, create a retention policy. The policy should outline how long each type of document needs to be retained, as well as when and how you can get rid of documents that have passed the retention period.
Store Records Safely
Part of record retention is keeping your documents safe. Thereâs no use in retaining documents if theyâre destroyed when you pull them up, so consider hiring a professional record retention service for assistance. The pros will keep your documents safe, and theyâll make sure they donât end up in the wrong hands.
Office Relocation is Our Specialty!
If youâve outgrown your office space, then moving can dramatically improve the way you do business. When a corporate move is on the horizon, you can rely on UMC Moving in NYC . Our skilled team of moving professionals has been managing corporate relocations for more than 20 years, and we remain committed to helping businesses of all sizes execute flawless, stress-free moves.
When you choose UMC, youâll work with a senior management team member, who will walk you through every step of the moving process. We will survey your office and inventory and create a moving timeline for your consideration. Once we begin working on your move, weâll make suggestions along the way to cut your costs and limit downtime for your business. Our extensive moving resources mean that we have the equipment that is necessary to relocate your office efficiently and safely. Thanks to our state-of-the-art communication, we can respond to all of your queries immediately, so you can continue to focus on what you do bestârunning your business.
Creating a Project Team for Your Upcoming Corporate Move
During your corporate relocation in NYC , having a project team that is focused on ensuring that your move goes smoothly is extremely important. Your project team can work directly with your moving company to minimize your companyâs downtime and prevent avoidable delays.
Watch this video for some advice on selecting your corporate relocation project team. Your team members should have a proven track record of overseeing large projects with impeccable attention to detail and accountability. Once your team is in place, determine how often you will meet with them to discuss things like your moving calendar, packing, and transferring things like phone lines, internet connections, and utilities.
Tips for Planning a Corporate Move in NYC
As businesses grow and change, they often find themselves sitting in offices that no longer work for them. An office that is a bad fit can compromise productivity and hamper employee satisfaction, but the idea of a corporate move can be overwhelming. Fortunately, there are steps you can take to ensure that your corporate move in NYC goes smoothly and doesnât disrupt your business. These tips will help you pull off your corporate move without causing chaos at your business.
Work with a Corporate Relocation Company
Rather than adding the task of planning your move to your plate, turn the job over to an experienced team of corporate relocation movers. By working with a company that specializes in corporate relocation, youâll get the benefit of their experience as well as a dedicated team of people working to facilitate a smooth moving experience for your business. With your movers focusing on the relocation, you can focus on continuing to run your business.
Organize a Team in Your Office
For efficient communication and planning, organize a project management team in your office to take the lead on moving-related tasks. This team can work closely with your corporate movers on creating a timeline for your relocation and executing the things that need to be done to prepare. If you have a large office, it can helpful to have someone from each department of your business on the relocation team, so that they can then take responsibility for ensuring that move-related work is completed within their own departments.
Plan for Customer Support on Moving Day
Determine how you will meet the needs of your customers on your moving day. This may involve leaving internet and phone service active at both locations for a period of time or allowing employees to work from home. It may also be helpful to let regular customers know when you will be moving so you can try to meet their needs before moving day. Keep in mind that employees should stay home on moving day, aside from a small number of managers. Asking employees to help while moving opens you up to insurance issues, and they can make it more difficult for the movers to do their job.