The Butterfly Effect states that ‘Events as small as a flap of a butterfly’s wings in one hemisphere of the planet can so trigger a chain of events as to cause a storm in the opposite hemisphere!’ If events and processes are related to each other with such intricate mechanisms, then their effect can be seen in the fine machinery of large enterprises as well. A small untraceable obstruction in communication, coordination, information or execution could topple the net productivity of the workforce.
While functions and operations evident at a greater scale (like Employee skills, experience, team-effort, etc.) are directly responsible for an organization’s network-output, there are other ‘indirect’ functions that affect it equally. Record Management Efficiency is one such function of organizational productivity.
In this post, we will see some simple and immediately deployable Record Management Hacks to boost your enterprise productivity.
Let’s get going!
Begin with Decluttering!
‘Clutter is as much of a physical hindrance to work as it is to the mind.’ A decluttered place not only allows the employees to think and sort through the important records swiftly without many efforts but also project a positive mental attitude that promotes the cruciality of an organized workplace. Decluttering is a simple and effective hack when it comes to efficient Records Management. Look out for the following pointers before you begin to organize your records;
- Old receipts and ATM Slips- These bits of transactional receipts and ATM Slips pile up over time and can quickly invade every nook and corner of the Record Storage area. Declutter these first.
- Old letters and Applications- If an application or a letter is no longer relevant and is too old, it would not harm to discard them. However, keep in mind the nature of such documents as they hold legal importance. Take inputs from your legal department.
Retain Financial Documents as old as 7 Years (at least)
Confused as to how long should you retain your important financial documents? Well, there is a thumb rule you can follow. Simply consult your finance team and ask them to thoroughly sort all the important financial documents as old as 7 years. These will include bank statements, copy of cheques, demand drafts, quotation, sales, taxes, audits, etc. Look out for any financial record pertaining to disputes or legal importance. Preserve them as well. Securely shred the rest. Moreover, you can take a step ahead and digitize all your financial records. This will not only make the management seamless, but you also won’t have to worry about discarding them at regular intervals.
Train Employees & be Creative
Have you already set a system for processing your paperwork? Different departments have to process different types of records and have to follow different procedures. For example, the Human Resources Department has to be cautious about employee ID-related documents, the Finance Department has to preserve Tax & Audit records, and so on. You can create training material for each department guiding the employees about critical Record Management functions and processes. You can even place creative posters in each department so that important messages pertaining to correct Record Management practices are always visible to them.
Or, you can let go of the hassle and hire a Records Management Services vendor to get a better return on your investment. They are well trained and adept in preserving the most critical records with mission-sensitive importance.
Clear the Backlog!
There is always a certain amount of backlog pending in every enterprise. Though, as the new paper records pour in and new priorities keep stacking up upon each other, clearing the pending backlog amongst them can be a daunting task. If your records management system is efficient, you can clear those pending taxes, bill the pending invoices, check for any wrong transactions, dig through a suitable employee profile, etc. with minimal effort. For example, small leakages in company expenses, unaccounted receipts, etc. can lead to wrong tax filing. This can only be corrected if the backlog of the pending paperwork is cleared. If employees find every document and file in the respective place, you’d be amazed to see almost no overdue paperwork deadlines!
Keep the above Record Management hacks in mind and train your employees to develop a similar orientation. Good luck!