Cooperate sector has a huge competition nowadays however own assessment of business can be judged by keeping record. keeping record is a fundamental need of a business as starting a business or running a business is not only exciting but is also a responsibility therefore to record daily happenings and cash outflow and inflow is necessary. Importance of employee’s record is also an important management function as employees are a basic part of business that’s why recording their daily record is important.
Employee’s record can be stored on paper or electronic media depends on size and type of industry. If it’s a small business or owner is self-entrepreneur he can keeps record like financial budget in register however if it’s involved a big industry a more professional medium like electronic media is needed.
Principal Importance of Records Keeping Template
- Keeping records of employees is not only the need of organization but it is necessary according to employees act therefore it is our moral and ethical duty to follow the labor and employees rights.
- The records can be examine and wanted by legal authorities anytime therefore it is necessary to maintain proper records of employees.
- Records are needed in the industry sometimes by marketing team or needs to be examine for specific purposes.
- It is fundamentally important for all businesses whether small or large to keep proper records of all employees.
- However records can be divided into two types to help to maintain them according to the needs.
- Records should be compatible with employment law firms. Updated and properly formulated records can help monitor the performance of employees thus deciding for selection as a team member for specific projects.
A important reason of need of records is to take important decisions for selected individual like promotion or increment in salary.in some extreme cases decisions of dismissal can also be based on report therefore it’s necessary to have complete and updated records.