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7 year
http://www.employmentlawcenter.org/PersonnelFile.pdf
For the term of their employment.
In Canada you should keep all financial files for 7 years as the government can go back this far to audit.
The term retaining employees refers to keeping employees at the job long term instead of quitting. Retention can be desirable to keep highly valued people with the company.
I would think they are allowed to keep them for as long as they wanted to. Whether they are required to keep them or, not is another issue, that I do not have the answer for.
Infinitely long
As long as the software has an easy and quick to use interface, it will keep employees focused.
How long should a medical record be retained
not reqauired
It depends on how you define "company" and what type of "data". A prior employer can keep information for as long as they choose to. However most "companies" purge their files after seven years.
This is from FAQon ImageShackHow long will my uploaded files be available?Your files will only be deleted if they do not adhere to our Terms of Service. If you are registered, your files will be available forever. If you are not registered, any file that you upload will continue to be available if it is accessed by anyone at least onc per year.