You’re right on track to managing your employees and business. Gathering all the proper paperwork and employee information you need creates professionalism and transparency for your employees.
A final note to remember is that having an organized system is essential for an employer to manage employees and their paperwork to make it easier to find and update records.
If you are a federally regulated company, you must keep employee records for at least 36 months once an employee leaves the company. However, provincial and territorial employment standards vary in how long employers must retain records. The reason for holding records is that the government may need access should they inspect the business or investigate a complaint. Once that time has passed, you can securely dispose of all employee documentation.