What does records retention policy dictate?

The records retention policy is primarily concerned with governing the management of records throughout their lifecycle, which includes how long to keep them and when and how to dispose of them. This policy ensures that organizations retain records that are significant for business and regulatory reasons while also safeguarding against unnecessary storage costs and legal liabilities associated with retaining records for too long. By specifying the duration for which different categories of records should be preserved and outlining the appropriate methods for their secure disposal after they are no longer needed, the records retention policy plays a crucial role in records management and compliance.

The focus on keeping and disposing of records highlights the importance of not only maintaining records in an orderly manner but also determining a systematic approach for their eventual disposal, which helps in managing information overload and protecting sensitive data. Thus, the correct answer centers on these essential aspects of handling records effectively, ensuring compliance with relevant laws and regulations.