Investors in People is a standard of prestige in business, and it helps organisations to improve their business performance. The frameworks specified within the standard outline what a business needs to achieve in order to obtain the status. This article will explain how to get Investors in People status, the assessment procedure and benefits of holding the status.
How to get Investors in People status
In order to achieve the Investors in People status, there are 39 evidence requirements which all organisations have to achieve. These requirements of Investors in People UK are outlined below: - Business strategy: Improving the performance of the organisation - Learning and development: Implemented throughout the organisation to help to achieve the company objectives - People management: To promote equality and development opportunities - Leadership and management: Management capabilities to develop people effectively - Management effectiveness: Effective management styles of managers - Recognition and reward: How staff and others contribute to the organisation and ensuring that this contribution is recognised in some capacity - Involvement and empowerment: Staff are encouraged to take ownership and responsibility and have an input when decisions are made - Learning and development: Enabling staff to learn and develop effectively - Performance measurement: Ensuring that there are opportunities to invest in staff, which ultimately increases performance of an organisation - Continuous improvement: Ensure that opportunities for improvement are always pursued in relation to how people are managed and developed Assessment Assessment of the above criteria is simply through staff interviews. No paperwork has to be filled in or submitted, and the assessor will provide the business manager and business investors with a comprehensive assessment report with valuable feedback, which will identify potential areas for improvement in the future.
Benefits of the Investors in People status
- Research suggests that the status improves performance in all areas of the business including financial performance, increase in profits and assists organisations to meet their objectives. - It is a useful framework for organisations which are undergoing change in a time of the economic downturn. - The Investors in People framework can ensure that you make the most out of your business plan. - The assessors for Investors in People provide continuous advice and self-check tools which can help you to evaluate performance, identify performance indicators or provide comprehensive business advice.