IIP (Construction, Education, Finance, Retail Sectors)

Finance Sector

“Without doubt, our employees feel much more involved in the business and its future.”

Menzies staff partner Richard Dodd

Welcome to those working in finance sector companies and who want to find out more about Investors in People.

Number of Finance sector organisations working with Investors in People (based on SIC* code 65) 1637 as of February 2005

Finance Sector

The finance sector currently faces many challenges not least in overcoming low consumer confidence: the ongoing pensions debate plus individual cases such as Enron have meant the public has heard much poor press about the sector. The swelling credit card debt of the nation continues to be a growing issue with many people having liabilities far exceeding their income. There is a constant concern over interest rates and the high levels of competition. The finance sector is heavily regulated and it is a changing marketplace, one where new products with greater complexity are being released continuously.

The result is that there are considerable skills shortages and recruitment challenges for finance sector companies. For the period 2000-2010 forecasts indicate an aggregate turnover of 80% of staff, mainly in customer services and administration. Ironically the biggest demand for financial services is in the South-East and yet this is where the largest skills shortages exist.

Investors in People can help manage these issues and build a culture of continuous improvement. By building better communication channels, individuals have a clearer understanding of their role within the organisation and how they contribute to that organisation. This leads to an increase in motivation and morale which in turn leads to greater staff retention


Paul Monteath, Managing Partner, Monteaths Accountants:

“The Standard means a great deal….it sets us aside from our competition and gives our clients confidence that the firm they’re employing is good because it in turn looks after the people it employs.? It really is a measure of excellence.”

Case Studies

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*standard industry classification

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