A record retention schedule is a policy that outlines how long an organization should keep its records before disposing of them. This schedule helps ensure compliance with legal requirements and industry standards, as different types of records have varying retention periods. It typically categorizes records based on their importance and the regulations that apply to them. By following a record retention schedule, organizations can manage their information efficiently, reduce storage costs, and minimize the risk of data breaches. It also aids in maintaining an organized system for retrieving important documents when needed, ensuring that valuable information is preserved while unnecessary records are safely discarded.