• How Long to Keep Records?

    Records are at the very core of what a human resources (HR) department does. As the managers of an organization’s most vital resource pool, HR professionals must maintain the records of every hiring, firing, and grievance. 

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    HR is the backbone of a good corporate culture. An effective HR department will mean employees that feel looked after and a sense of trust in the management of the business. Properly managing the records of your employees is a huge part of establishing that trust.

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    For many businesses, the HR manager or department also manages payroll. So, on top of the personnel files and other records, they must also maintain records of employee earnings, invoices, and a host of other important documents come tax time. With so many varying record types and such a vital role in managing them, it is only natural that HR professionals would be constantly searching for more efficient ways to manage records. With that in mind, let’s take a look at what records retention and management means in the context of human resources.

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    What is a Human Resources (HR) Record?

    There is no simple answer to the question of what, exactly, qualifies as an HR record. This is because the answer largely depends on how an organization is structured and how broad the purview is of the HR department. For some smaller businesses, the HR department may deal with almost all of the accounting and payroll records for the business. For larger organizations, they may play a more segmented role.

     

    At their most fundamental level, HR records can be described as any record of the internal functioning of a business or organization. They are the memory of the organization, serving to ensure that failures are documented and learned from, that legal disputes can be resolved effectively, and ultimately that the business or institution can continue to build on a foundation of defined processes. A business with no memory is a shaky idea indeed.

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    Types of HR Records

    While what is considered an HR record may differ from organization to organization, there are some fundamental categories of HR records that will be consistent across just about any business or industry. Here are a few of the most common examples.

    Personnel Files

    Personnel files include everything that was generated and collected during the on-boarding process, including offer letters, signed contracts, copies of any signed employee handbooks etc., as well as any ongoing assessments of performance. These records are generally available to the HR manager and any superiors or managers of the employee.

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    Payroll Files

    Payroll files should be a record of any and all things related to an employee’s compensation or taxes. This includes direct deposit forms, filled out W2 or 1099 forms, W4 forms, time-off requests, and anything else that may need to be referred to in any wage disputes or questions about tax withholding.

    Medical Records

    Not every organization will keep extensive medical records for their employees. Most medical records will generally only apply to businesses that provide their employees with health care. However, there are some exceptions that apply to hourly employers, such as records of any injuries sustained while on the job. Broadly, medical records are any personnel records that pertain to medical treatment, insurance, or liability, such as health insurance application forms, physician’s notes, worker’s compensation claims, drug tests, and many more.

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    Confidential Employee Files

    These are secure employee files that should only be viewed or managed by HR professionals. They will include all of the sensitive or personally identifiable information that relates to an employee, such as their social security number, their marital status, their criminal background, or any other protected private information.

    Investigation Files

    Investigation files will be created in response to a specific investigation into an incident or an employee’s conduct. They will include any interviews, depositions, or other documentation that pertain directly to the investigation. As with confidential employee files, they should only ever be accessible to members of the HR department.

    Training and Development Records

    While these are sometimes contained within the individual personnel files of employees, some HR departments also choose to maintain a separate record for employees detailing their professional development, including any certifications that they have attained through any company-sponsored programs.

    HR Record Retention Guidelines

    Record retention is obviously fundamental to the operation of human resources. Keeping a clear, accessible, and accurate record of a business’ operations and employees is vital. However, it’s not quite as simple as just “retaining records”. This is because of a dichotomy that is at the heart of all records management: the demands of regulation and the limitations of storage.

    Regulation

    Keeping accurate records of your organization, employees, and payroll isn’t just necessary for the effective operation of a good business. Much of it is also necessary to be on the right side of the law or, rather, several laws. Every record should have a retention schedule, even if it is indefinite, to ensure that your business is able to meet legal challenges and weather audits without unnecessary losses.

    Storage

    The answer to legally-mandated record retention periods seems obvious. Just keep everything! Unfortunately, even in the age of ever-expanding digital storage capacities, keeping everything is not a cost-effective option. Paper-based records require adequate, temperature-controlled storage space and even in the case of digital files, keeping every record of a large organization could result in a massive amount of redundant, obsolete, and trivial (ROT) files. Thus, the constant dance between efficient records retention and the letter of the law.


  • Toys Business Ideas and Manufacturing Plan

    When we hear this word toy, all the pleasant childhood memories with toys flashback in our mind. You must be eagerly waiting for your birthdays, Diwali and Christmas to get your favourite toy. All of us wish to be the owner of the toy making company in our childhood. Toys business ideas are one of the most researched ideas of starting a business.

    The market for this business is very high. If you have a good plan, you can easily beat your local competition in your area. You have to decide the location, the categories of toys, brand name, investment, marketing cost, marketing methods and the ROI from your toys business ideas.

    The market of toys business ideas

    We all know, toys are not going from the trend. Every day, new toys are manufactured for people of all age groups. You can see toys for small kids and remote control toys for teenagers. As the population is increasing, the demand for toys and dolls are also rising among boys and girls. You can easily set up your toys shop and earn huge profits if you don’t have a toy shop in your locality.

    Toys business ideas

    Steps for toys shop business plan.

    If you are planning to start your toys shop business, then some of the steps you need to plan and implement to get the fruitful results are:

    Research and competition

    Before planning any steps, you have to research your business idea. Make a note of the following points

    • How many toy shops are there in your area?

    • Which toys are trending in your area?

    • Are there any toy shops near the hospital or nearby?

    • How are your competitors marketing to attract customers?

    • When you have the proper research plan and answers to the above question, you will get a clear idea to start your toy business ideas.

    If you are satisfied with the answers, you can move on to the second step.

    Investment

    The most important factor for setting up your toy shop business is an investment. If you have a low budget, then you have to be very selective in your materials. Now, from the above research, you know which toys are treading in your area. Get the wholesale quotation from the market to know the approximate investment needed in your first toy stock.

    Location

    For any successful business, location plays an essential part in its process. If you want to start your toy business ideas, then you can look for shops in the area where people travel a lot. One of the recommended places is near children hospitals. Because in hospitals, many children are admitted, and they need some toys to distract them from their pain. Some of the sites you can set up your store are:

    • Train Station

    • Bus stops

    • Near Cafe

    • Birthday lawns

    Brand name for toy manufacturing business plan in India

    When you have the required investment and location for toys, business ideas shop. It's time to get your shop a cute name.

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  • How to Start Soya Chaap Manufacturing Business?

    If we talk about soya chaap, then the trend of serving it as a starter in parties and marriage functions is increasing in India. The main feature of soya chaap is it cooks in the oil pan as well as tandoor. You will find this food item easily from malls to Dhaba ( Roadside Restaurant). In this article, we will talk about all the information on How to start soya chaap manufacturing business in India?

    People are changing their food habits and shifting from non-veg to veg to start a healthy and non-meat eating lifestyle. Many are aware of their health and want to adopt a healthy way of life. In today’s time, people are very busy with their work and career that they forget to give for their health. Eating proper and healthy food is a necessity in today’s running life.

    Marketing

    The best way to market your products are using social media like Instagram marketing and offline marketing like banners. 

    Creating websites for your products and promoting the site using SEO like proper on-page SEO and Off-page SEO to get better results. Best way to rank the site is to make proper backlinks in your domain but we are aware of the domains with DA manipulation work like Redirects

    Another way of offline marketing is advertising using speakers. If you are planning to set up shops or do retail marketing yourself then you need to buy speakers or repair them with some high volume to get the attention needed. 

    For good health you need to eat healthy food which has many nutritional value. At the top of the list of healthy food items, which are rich in proteins and less in cholesterol is soyabean. For vegetarians, soyabean is very effective as it substitutes their protein needs from meat and eggs. Many doctors also prefer to eat soyabean for heart patients as it is low in cholesterol and fat. This is the reason, soyabean items like soyabean milk, chunks, soyabean chaap, flour, soya Paneer, soya sauce, etc are used in our diet daily.

    Raw Materials

    You should have the proper soya chaap making and processing business plan before starting this business, the first thing you will need is the raw materials. Some of them are:

    • Soyabean Flour

    • Wheat Bran or Wheat Flour

    • Oil

    • Maida or All purpose Flour

    Area Requirement

    Soya chaap making business is a small scale business and needs very less area when compared to other heavy work business. The area required to start this business on a small scale is minimum 1500 to 2000 Sq.ft of land. If you want to store the frozen soya chaap in your cold storage, then the area will also increase. If you want to start this business, then you can store the soya chaap in other cold storage to save your place and investment and track the status using GPS trackers.

    Process of making soya chaap

    While starting any food business, the main ingredient which makes them unique from other competitors is the recipe and taste. The process of making plays an important role in the taste of the final product. You should try many recipes and then fix the portion and quantity of every item which is used in the process.

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