If your business is attempting to go paperless and cut down on clutter in the office, it’s important to know what items you’re expected to keep as part of record-keeping requirements and laws for your business. Failing to keep accurate records could land you and your company in a world of trouble, so taking the time to understand your responsibilities makes life (and filing) easier. If you’re involved in any type of legal action or claim, it’s much easier to obtain necessary documents for your attorney if you have already kept them filed properly.
- Even if an employee has left your company, you need to keep personnel or employment records for a period of one year.
- Any information regarding employee benefit plans should be kept together for as long as the plan is active and for up to one year after an employee is terminated.
- Any payroll history must also be kept on file for up to 3 years.
- Information like merit systems data, wage rates, or any job evaluations should be kept on hand for at least two years. This is largely in place to serve as a reference if there are claims that different sexes were paid with different rates.
It’s important to note that these files should always be kept on hand whether a charge has been filed or not. Putting in place a record-keeping system that works for you is important for ensuring that you’re in compliance with all necessary regulations, but it also makes it easier if an employee or former employee threatens charges against you. Having documentation to back up your side of the story can be tremendously helpful. If you have been contacted by an employee regarding a potential charge or lawsuit, don’t hesitate to retain the services of an experienced Illinois employment attorney.