Co-op boosts profits after gaining IIPOn 3 Sep 2002 in Personnel Today The Co-op has improved staff retention and boosted profits by almost aquarter, following the successful introduction of the Investors in People (IIP)Standard. The group, which employs about 50,000 staff across several industries, hasbenefited from improved training through gaining IIP accreditation early lastyear. Since then, it has seen a 24 per cent increase in pre-tax profits. The Co-op has also improved staff morale and seen a reduction in staffturnover by 3.1 per cent, saving it more than £430,000. Adrian Egglestone, general manager for HR development at the Co-op, is in nodoubt that achieving IIP accreditation has played a central role in improvingthe business. He said IIP had been used as a vehicle to help unite the business and raisethe performance of the HR team. “This wasn’t just preaching from the HR team – it was a partnershipright throughout the organisation. All parts of the business have sat down,looked at training and started working together,” he added. Egglestone said training was at the heart of the improvements and theinitiative began with a course communicating the business values to all staff. “There were training events for everybody, from executives to checkoutoperators, which highlighted our unique values. We’re owned by the consumer andnot the City,” he explained. As part of the campaign towards IIP accreditation, the Co-op introduced anew performance management system, improved communications and began aninduction scheme ensuring all new staff were trained within the first month ofjoining. Comments are closed. Previous Article Next Article Related posts:No related photos.