Final answer:
The statement is false. Org-level retention settings override workspace-wide retention policies to ensure compliance with regulatory needs, but workspaces may have some flexibility to customize their policies within the org-level parameters.
Step-by-step explanation:
The statement is False. Org-level retention settings take precedence over workspace-wide retention policies in most data management systems. This means when there is a conflict between org-level settings and workspace policies, the org-level settings will override the workspace retention policies. However, some systems do allow workspaces to customize their own policies, but these cannot conflict with the overarching org-level retention settings.
Organizations implement retention policies to ensure compliance with legal and regulatory requirements and to manage the lifecycle of data effectively. Workspaces can set their own retention policies within the boundaries of the org-level guidelines to address their specific needs.