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Investors in people

For organisations that want to achieve business goals and develop their people, then the Investors in People (IIP) award provides an excellent framework to follow. But what is it and what's involved in achieving the award?

Investors in People background

Investors in People celebrated its 10th anniversary in 2001. It was developed in 1990 by the National Training Task Force in conjunction with the Confederation of British Industry, Trades Union Congress and the Institute of Personnel and Development.

It is now run by Investors in People UK. Since its launch, tens of thousands of organisations, involving millions of employees, have worked to achieving the award.

What is the award?

Investors in People is the national standard which sets a level of good practice for training and development of people to achieve business goals. Achieving the award means that the organisation is - and can claim to be - an investor in people.

Essentially, the standard recognises and promotes the link between business performance and the achievement of business goals, with the provision of training and development for employees to help the organisation reach those goals.

It provides a national framework for organisations to set and communicate their business objectives and to develop people to meet those objectives. The outcome is that what people do and are motivated to do in the organisation matches the organisation's needs. It's a cyclical process leading to an organisational culture of continuous improvement.

Investors in People Standard

The standard is based upon four key principles:

• Commitment
  The organisation's commitment to invest in people to achieve business goals.
• Planning
  Organisational planning how skills, individuals and teams are to be developed to achieve business goals.
• Action
  Developing and using necessary skills in a clear and ongoing programme linked to business objectives.
• Evaluating
  Evaluating the outcomes of training and development for individuals' progress towards goals, the value achieved and future needs.

For further details see the Investors in People Standard for full details.

What do you need to do?

• Read through the standard. It provides a recognisable standard externally to your customers and internally to your employees. Consider if the framework is something that you feel you can commit to.
• Take a strategic view on how Investors in People can be introduced in a way that suits your organisation's needs. It's important to gain commitment from your team here.
• Check to see how your organisation measures against the standard.
• Produce an action plan of what needs to be done to meet the standard and set aside the resources to do this.
• If you would like advice and support, then contact one of the following bodies:
  • England: Your local Learning & Skills Council or Business Link (for companies with up to 250 employees)
  • Wales: Education and Learning in Wales
  • Scotland: Scottish Enterprise or Highlands & Islands Enterprise
  • Northern Ireland: Department for Employment and Learning
• Contact the above when you are ready for assessment, which is carried out by an independent assessor. Remember that how you achieve the standard is up to you; what is important is to follow the framework.

How much, how long?

The biggest element of cost will be the resource you need to set aside to achieve the standard. Your only direct costs will be that of assessment, and these charges vary according to the size of the organisation.

There's no fixed length of time that it takes. If you are already providing training and development that fits in with business goals, then you are already on the way. It also might take longer for very large organisations. It will probably take at least several months to attain.

When you have achieved the Investors in People award, it lasts indefinitely, subject to reviews that are no more than three years apart.

Further information

See the Investors in People website at www.iip.co.uk.

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