A study by Investors in People and economic research consultancy TBR has found a performance premium of up to 11 per cent for companies focusing on better people #management. Small firms (less than 50 employees) and large firms (greater than 250) could see £33bn and £32bn respectively, by closing this people management gap. The study is the first of its kind to calculate the monetary benefits of implementing more effective people management approaches.
The ‘Impact of investing in people’ report was commissioned to identify the key management factors driving workplace performance. The study investigated a set of 10 people management approaches common to many high performing businesses, finding that 6 factors were significant in explaining direct improvements in performance and efficiency.
Key findings highlight employers that adopt more sustainable practices, responding flexibly to change, whilst planning for the future, will drive the most improvement in their performance.
Curated from www.investorsinpeople.com