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investors in people |
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The Investors in People Standard is a business improvement tool designed to advance an organisation’s performance through its people.
Developed in 1990 by a partnership of leading businesses and national organisations, the Standard helps organisations to improve performance and realise objectives through the management and development of their people. Since it was developed the Standard has been reviewed every three years to ensure that it remains relevant, accessible and attractive to all. The most recent review was completed in November 2004.
A proven framework for business improvement Investors in People provides a flexible framework, which any organisation can adapt for its own requirements. It mirrors the business planning cycle (plan, do, review) making it clear for organisations to follow and implement in their own planning cycle.
The framework involves:
• Plan – developing strategies to improve the performance of the organisation. • Do – taking action to improve the performance of the organisation. • Review – evaluating the impact on the performance of the organisation.
Over the past 12 years independent research has consistently shown that the Investors in People Standard provides real business benefits to organisations of all sizes and across the all sectors.
There are currently over 37,000 recognised organisations in the UK employing over 27% of the UK workforce. Every one of those organisations is benefiting from the Standard in one way or another and with a 90% retention rate, we must be doing something right! The practical benefits of working towards and achieving the Standard are many and include:
Improved earnings, productivity and profitability Skilled and motivated people work harder and better improving productivity.
Customer Satisfaction Investors in People is central to helping employees become customer focused enabling organisations to effectively meet customer needs.
Improved motivation Through employees greater involvement, personal development and recognition of achievement, motivation is improved. This leads to higher morale, improved retention rates, reduced absenteeism, readier acceptance of change and identification with the organisations goals beyond the confines of the job.
Reduced costs and wastage Skilled and motivated people constantly examine their work to contribute towards reducing costs and wastage.
Enhanced quality Investing in people significantly improves the results of quality programmes. Investors in People adds considerable value to The Excellence Model, ISO 9000, BS 5750 and other total quality initiatives.
Competitive advantage through improved performance Investor in People organisations develop a competitive edge
Public recognition Investor in People status brings public recognition for real achievements measured against a rigorous National Standard. Being an Investor in People helps to attract the best quality job applicants. It may also provide a reason for customers to choose specific goods and services.
The additional benefits an organisation can gain from the Standard are: • The
opportunity to review current policies and practices against a
recognised benchmark
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