Investors in People
Investors in People ('IIP') is the national standard which sets out a level of good practice for training and development of people to achieve business goals. The standard provides a national framework for improving business performance and competitiveness through a planned approach to setting and communicating business objectives and developing people to meet these objectives. The result: what people can and are motivated to do match what the organisation needs them to do. Investors in People is cyclical and should engender the culture of continuous improvement.
The practical benefits of working towards and achieving the standard include:
- improved earnings, productivity and profitability. Skilled and motivated people work harder and better, so improving productivity
- customer satisfaction. IIP organisations are central to helping employees become customer focused, thus enabling the organisations to effectively meet customer needs.
- improved motivation. Through 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 organisation 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. IIP adds considerable value to The Excellence Model, ISO 9000 and other total quality initiatives.
- competitive advantage through improved performance. IIP organisations develops a competitive edge.
- public recognition. IIP 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 to accrue from the Standard are:
- The opportunity to review current policies and practices against a recognised benchmark
- A frame work for planning future strategy and action
- A structured way to improve the effectiveness of training and development activities
Informantion on the scheme can be sought from the Department of Economic Development.
Department of Economic Development
St George's Court
Upper Church Street
Isle of Man
+44 1624 687333