Benefits of IIP
Increase profitability
People and the way in which they are led, managed and developed are fundamental to increasing profitability. Investors in People can provides you with the guidance you need to ensure you have the structures in place for increasing the profitability of your business.
Investors in People accredited organisations generate higher gross profits per employee. A "typical" organisation that currently does not have Investors in People accreditation could generate an additional £94 per employee in gross profits per annum if they worked with Investors in People.
The Institute for Employment Studies "Does IIP add value to businesses?", 2008
Managing Your People
You need to ensure that your people use their skills to best effect when working with customers and that they reflect the values and brand of your organisation.
The relationship that you have with your people, directly and through their line managers, will be critical to this and you need to ensure that your managers are leading, managing and developing people in the way in which you expect.
Effective Sales and Marketing
More effective sales and marketing is dependent on your people having the right knowledge of your products and services and good understanding of the markets and the customers you are trying to reach.
Motivation levels of your people to use their knowledge and understanding to best effect will be impacted by the effectiveness of your managers to engage and motivate their teams.
New and innovative ideas for sales and marketing can be developed by tapping into the knowledge and understanding of your teams.
Quality of Service
Your levels of customer retention are likely to be linked to the quality of service that you provide – the better the service, the more likely people will return as customers and the more likely they are to recommend you to other organisations and people.
You need to be clear about the levels of service that you expect from your people, and to make sure that they have the skills to do this job.
Return on Investment
Learning and development, reward, recognition and other benefits can all cost money. The key to increasing efficiency in these areas is not to stop spending money because it’s not seen to be ‘core to the business’ but to:
- Look at how each activity contributes to what your key objectives are
- Consider whether there are alternative approaches to achieving the same outcome
- And most importantly, to assess whether your chosen approaches actually work.
Without a structure – formal or informal – in place which enables you to evaluate and review the effectiveness of your approach in these areas, you will never really be able to understand whether they are working for you, how you could make improvements which might save money, and improve the effectiveness of your approach.
If you would like more information about how we can help you to increase your organisation's profitability, please contact us.
