Source: Personnel Today
This article appeared in Personnel Today. The article is about a research which shows that business with good HR practices enjoys high profits.
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People and the Bottom Line, an in-depth two-year study by the Work Foundation and the Institute for Employment Studies, tested a range of people management practices with almost 3,000 employers to assess their impact on organisational performance.
It found that businesses with good HR practices - from resourcing to employee engagement and skills development, enjoyed higher profit margins and productivity than those without. The study concluded that if an organisation increased its investment in HR by just 10% it would boost gross profits by £1,500 per employee per year.
Penny Tamkin, associate director of the Work Foundation and lead researcher on the project, told Personnel Today: "The report found that it was the intensity of the HR practice that makes a difference - for example, not just whether companies do employee engagement, but how much and how often."
Tamkin stressed there was no one-size-fits-all approach to investment in people management. However, she said the key to success was HR departments working closely with managers to achieve results.
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