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| Primary purpose Summary Potential benefits Who can use the tool? What resources are needed? Development, ownership and support Social enterprise examples Further sources of information Footnotes Investors in People Standard The Investors in People Standard is a business improvement tool designed to advance an organisation’s performance through its employees. It helps organisations to improve performance and realise objectives through the management and development of their people.1 It has three principles to which an organisation must subscribe and key indicators to work towards. An external assessor will look for evidence that these principles and indicators have been implemented throughout the organisation. Investors in People provides a flexible framework, which any organisation can use. 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 is based on three main principles:
Plan
Do
Review
Organisations pursuing the Standard then prepare their work against these criteria with support from a recognised Investors in People Adviser and guidance from detailed evidence requirements.2 External assessment is subsequently carried out to ensure the organisation has met these principles and underpinning criteria. The organisation can request an assessment at any time once it has decided to work towards the Standard. Supporting evidence for the assessment is gathered from a range of sources and is not necessarily paper based. Evidence may include verbal and observed feedback, for example, through one-to-one interviews with employees or staff appraisal. As long as the criteria are adhered to, there is complete flexibility in how the organisation seeks to improve its staff development. Once the organisation has been recognised as an ‘Investor in People’ it is subject to regular reviews no more than three years apart. An organisation can be assessed on a more regular basis if it so wishes.
Potential limitations
Who can use Investors in People? Any organisation with two or more employees that wants to improve the skills of its workforce and encourage their commitment to become part of its vision can undertake the Investors in People Standard. Over 37,000 organisations have achieved the Standard, many in the voluntary and third sector. Although co-operative organisations have successfully implemented the Standard, they will need to be aware of its management approach to an organisation’s employees. Leadership An individual or team can lead with Investors in People, with support from management and all staff involved. Proficiencies or skills No specialist skills are required to pursue the Standard. An Assessor will gather evidence, mainly through confidential one-to-one interviews with a staff sample. The organisation may choose to conduct a self-assessment in order to plan what it needs to do. This might involve social research methods, such as surveys and interviews. An Adviser may be able to help with self-assessment as part of the support package. Costs may be involved in implementing the Standard. At the time of going to print the current maximum daily rate for Assessment is approximately £550 per day. The Assessment package, including additional activities, may be charged up to a maximum of £750 per day for organisations with 1000+ employees. Assessment for organisations with up to 20 people usually takes 1.75 days. Larger organisations are assessed based on a percentage or sample of people. Staff time The amount of time taken to become an Investor in People will depend upon what kinds of changes need to be made and the degree of management commitment. It is realistic to suggest that an organisation could achieve the Standard within a year, but it may take up to two years. Timeframes are fairly flexible as the organisation itself determines when it is ready to be assessed. Whilst it is management led, it will require all staff to be involved in some capacity, for example in staff appraisals. Investors in People is reviewed regularly for further improvements and assessment every three years. Courses, support, and information Initial support in the form of workshops and training is available to organisations through the Learning and Skills Councils and Business Links in England, Education and Learning in Wales, Local Enterprise Company in Scotland or the Department for Employment and Learning in Northern Ireland and is usually free. The IIP UK’s website is comprehensive and includes case studies of organisations working with Investors in People. Investors in People UK has awarded ‘Champion’ status to a number of exemplar organisations that have been ‘outstanding’ in promoting the values and principles of Investors in People and who have led by example in the way they manage and develop people.3 These organisations provide a mentoring service and host site visits to learn more about getting the most from the Investors in People Standard. Development, ownership and support The Standard was developed in 1990 by the UK National Training Task Force in partnership with leading national, business, personnel, professional and employee organisations, such as The Confederation of British Industry and The Trade Union Congress. The Standard is promoted, developed and quality assured by Investors in People UK – a non-departmental public body (NDPB) led by the UK Government’s Department for Education and Skills. From its inception the Standard has been reviewed every three years. A non-printable .pdf of the Standard is available at the Investors in People website. A hard copy of the Standard can be ordered for around £8 plus postage and packaging. It is possible to read the Standard and guidance is available to run through it yourself, but Advisers are available and external assessment is needed to obtain the Investors in People Standard. Social enterprises that have used Investors in People:
Further sources of information information@iipuk.co.uk www.investorsinpeoplechampions.co.uk ‘How to become an investor in people: A guide for the Voluntary Sector’ is available at www.ncvo-vol.org.uk Paton, R. (2003) Managing and Measuring Social Enterprises, (London: Sage) provides an exploration of Investors in People and performance improvement. 1 For Investors in People, this is anyone who helps the organisation to achieve its objectives – whatever role they play, including part-time workers and voluntary workers. It would also include self-employed people who do a lot of work for the organisation or people on renewable short-term contracts and regular casual employees. 2 An Adviser helps organisations put in place the practices and processes they need in order to gain the maximum benefit from the Standard in a cost-effective way. The Adviser provides client-focused feedback on an on-going basis and works with the Assessor to help customers plan their assessments and reviews. Advisers are licensed practitioners and have to keep up to date with good practice. They must follow a programme of continuous professional development. 3 For further details visit www.investorsinpeoplechampions.co.uk |
“Because we were already engaged in social accounting, we had already given significant attention to issues covered by Investors in People and put relevant systems in place so Investors in People was much easier to manage.” – Community Enterprise Unit Ltd |
