The ACE Group in Bermuda today announced its successful recertification as an Investors in People organization with Silver status. Attainment of Investors in People Silver acknowledges that ACE consistently performs above and beyond the Investors in People Standard and demonstrates the company’s commitment to employee development and business improvement.
The Investors in People Standard offers a continuous business improvement tool designed to help organisations develop performance through their people. Developed in the UK and launched in 1991, it is an internationally recognised standard that provides a framework of best practice. Companies are required to adopt the framework and assess performance against the standard every three years to maintain their status.
Premier of Bermuda the Hon. Paula Cox, JP MP, attended an employee reception at the ACE Building in Hamilton to present the official Investors in People Silver certificate.
Samantha Froud, Chief Administration Officer of ACE’s Bermuda Operations said, “It gives me great pleasure to acknowledge ACE’s achievement. Our attainment of Investors in People Silver recognizes ACE’s ongoing commitment to employee development, management effectiveness, and the use of best practices designed to continuously improve ACE’s business performance.”
ACE is the first international business in Bermuda to achieve Silver status. ACE first became an Investors in People organisation in December 2004 and this year marks the company’s third successful assessment.
The recent assessment confirmed ACE’s adherence to best practices in its daily operations and highlighted some of the Company’s strengths including, its focus on the ACE Values and their integral nature to the way the company does business, ACE’s approach to social responsibility which is an important part of ACE’s culture, ACE’s management philosophy which helps to shape the approach of managers, and the wide range of personal and professional development activities available to employees.
On receiving the Investors in People Silver certificate from Premier Cox, Lisa Harvey Swan, Director of Human Resources at ACE Group, said “It gives me great pleasure to accept the Investors in People Silver certificate on behalf of the ACE Group. Achievement of Silver status demonstrates the progress we have made within the framework since 2004 when we first certified as an Investors in People company. This achievement is also evidence of our commitment to the continuous development of our employees and our company.”
Notes to Editor:
The IIP Standard
To achieve the IIP Standard a company must demonstrate examples of meeting evidence requirements in 10 categories: business strategy, learning & development, people management, leadership & management, management effectiveness, recognition & reward, involvement & empowerment, learning & development, performance measurement and continuous improvement. There are 39 evidence requirements in The Standard which all organisations need to achieve to become recognized as Investors in People and be able to display the Investors in People plaque and logo.
Beyond The Standard
Beyond The Standard, offers three opportunities to celebrate further achievement. You can achieve Bronze, Silver or Gold status by meeting additional evidence requirements from across the wider framework.
Organisations that achieve:
- The Standard plus 26 additional evidence requirements or more will be recognised as Investors in People Bronze.
- The Standard plus 76 additional evidence requirements or more will be recognised as Investors in People Silver.
- The Standard plus 126 additional evidence requirements or more will be recognised as Investors in People Gold.
Investors in People Background
Investors in People is a business improvement tool designed to help all kinds of organisations develop performance through their people. It is an internationally recognized standard that provides a framework of good practice for developing employees so they may achieve their business goals. The standard was developed during 1990 by the British Government's National Training Task Force in partnership with leading national business, personnel, professional and employee organisations and launched in 1991.
Investors in People Bermuda was incorporated in June 2000 as a not for profit organisation responsible for promoting Investors in People and maintaining the quality and integrity of the standard throughout Bermuda.
Additional information can be found at www.investorsinpeople.com
ACE Group
ACE Group is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), a component of the S&P 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries and commercial and individual customers in more than 170 countries. Additional information can be found at: www.acegroup.com.