What does the tool measure?
‘Investors in People’ (IIP) is a tool which can be used to improve aspects of a business in relation specifically to their staff and achieve a series of strategy steps, involving consideration of learning and development employee opportunities, and improving managing of employees. Successfully completing this process can result in being granted the ‘Investors in People’ standard by an external assessor.
Who can use the tool?
Organisations with two or more employees can users the Investors in People Standard to improve their employees skills and involvement within the overall organisation’s strategy. Many third sector/voluntary organisations have obtained the standard.
How does the tool/approach work?
The IIP framework is based upon three principles:
- Development of strategy
- Learning and development planned to achieve objectives
- Management of staff strategies developed
- Competencies required at management levels for leading staff are decided
- Management of people in reference to staff strategies carried out
- Recognition given to people’s contributions to organisation
- Involve staff in decision making
- Effective learning and development by staff
- Performance in organisation improved due to application of Investors in People
- Continuous improvement to management and development opportunities to staff
The tool can be used in consideration of all staff within an organisation, including staff that are not full-time, consultants, volunteers, etc can be involved in the process, which can be useful for sourcing any potential issues. The IIP standard can enable organisations to examine management of staff, employee satisfaction levels and other factors such as training and development. As part of the framework, there are a series of obligations to follow, after assessment and the commitment to internal improvement.
By aiming to improve an organisation through its employees, organisations can put measures in place in order to improve management of staff, satisfaction of employees and learning and development provisions.
Assessment continues over time in order to review an organisation’s progress and maintenance of the standard, at least within three years, post award. There is further recognition available – Investors In People – Bronze, Silver or Gold.
Further information and getting started:
For further information on the Investors In People tool please see the IIP website, which includes a number of case studies and online tools:http://www.investorsinpeople.co.uk/interactive/Pages/default.aspx
Costs for assessment are dependant on the number of days required for assessment, size of organisation and the level of IIP framework being used. Organisations working towards the Investors In People standard can obtain support from an Investors in People Adviser as part of the external assessment process.