How do you create a compliant retention schedule?

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Creating a compliant retention schedule

A retention schedule aligns legal requirements with business needs. It lists record types, assigns retention durations, and specifies actions at the end of retention.

Steps to build one:

  1. Inventory records and map applicable laws and industry rules.
  2. Categorize records by legal, operational, or historical value.
  3. Set retention periods with documented rationale and reference laws.
  4. Define end-of-life actions: delete, archive longer, or review.
  5. Implement automated enforcement and legal hold processes.

Ensure stakeholders—legal, compliance, IT, and business units—agree on classifications. Keep schedules documented and versioned, and review them periodically to reflect legal changes or evolving business needs.