August 14th 2003

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OFFICE DEPOT RECEIVES INVESTOR IN PEOPLE AWARD 

Investor in People is a prestigious award designed to recognise companies with a real commitment to its people.  Office Depot first expressed a commitment to Investor in 1998.  In 2002/3 formal steps were taken by the HR & training functions to apply for assessment.

In August 2003, this was granted following an in depth analysis of Office Depot's people processes and interviews with employees on all levels across the business.
 

What is Investor in People?

Investor in People is the National Standard which sets out a level of good practice for training & development of people to achieve business goals.  The standard was developed during 1990 by the National Training Task Force in partnership with leading national businesses, personnel, professional and employee organisations such as the Confederation of British Industry (CBI), Trades Union Congress (TUC) and the Institute of Personnel and Development (IPD).  The work was supported by the Employment Department.  The experiences of the UK’s most successful organisations, large and small, representing all sectors of the UK economy, were very positive and the Standard received the full endorsement of a wide range of interested parties.

The standard provides a national framework for improving business performance and competitiveness, through a planned approach to setting and communicating business objectives and developing people to match these objectives.  The result is – what people can and are motivated to do matches what the organisation needs them to do.  Investor in People is cyclical and should engender the culture of continuous improvement.
 

The Investor in People Standard is based on four key principles

  • Commitment : Commitment to invest in people to achieve business goals
     

  • Planning : Planning how skills, individuals and teams are to be developed to achieve these goals
     

  • Action : Taking action to develop and use necessary skills in a well defined and continuing programme directly tied to business objectives.
     

  • Evaluating : Evaluating outcomes of training and development for individual’s progress towards goals, the value achieved and future needs.
     

Benefits of being an Investor in People

Over the past 12 years independent research has consistently shown that the Investor in People Standard provides real business benefits to organisations of all sizes and across all sectors.

There are currently over 34,000 recognised organisations in the UK employing over 27% of the UK workforce, and every one of those organisations is benefiting from the Standard in one way or another.

The practical benefits of working towards and achieving the Standard are many.  They include:

  • Improved earnings, productivity and profitability.  Skilled and motivated people work harder and better improving productivity.
     

  • Customer Satisfaction.  Investor in People organisations is central to helping employees become customer focused.  Thus enabling the organisation to effectively meet customer needs at a profit.
     

  • Improved motivation through greater involvement, personal development and recognition of achievement, motivation is improved.  This leads to higher morale, improved retention rates, reduced absenteeism, readier acceptance of change and identification with the organisation beyond the confines of the job.
     

  • Reduced costs and wastage.  Skilled and motivated people constantly examine their work to contribute towards reducing costs and wastage.
     

  • Enhanced quality investing in people significantly improves the results of quality programmes.  Investor in People adds considerable value to The Excellence Model, ISO 9000, BS5750 and other total quality initiatives.
     

  • Competitive advantage through improved performance, Investor in People organisations develops a competitive edge.
     

  • Public recognition.  Investor in People status brings public recognition for real achievements measured against a rigorous National Standard.  Being an Investor in People helps to attract the best quality job applicants.  It may also provide a reason for customers to choose specific goods and services.
     

  • Reviewing current practices against an external benchmark
     

Benefits for Employees

  • Good quality training when required
     

  • Improved job satisfaction
     

  • Better communication
     

  • Skill and career development opportunities
     

  • Increased responsibility and involvement
     

  • A better working environment
     

  • Health & safety gains

Office Depot views this as another affirmation of their quest to be a compelling place to work, shop and invest.