The decision last week by the Privy Council to grant chartered status to the personnel sector is a momentous achievement for the profession and the IPD.
It comes at the end of a six-year campaign to obtain the coveted moniker.
At the core of the decision by the council is the recognition that personnel management is a discrete area of expertise. It will confer equal status for the profession alongside those professions that carry weight in the board room like finance and marketing. What a fantastic boost for the profession.
The institute and the profession should take time to pat themselves on the back and enjoy a glass of champagne - even take a holiday. Because now the real work begins.
Yes, there are outstanding issues about the examination system and the granting of individual chartered status. And, of course, there is all that re-branding. Standards will also have to be maintained.
It is important to get these things right, but there is a more profound challenge for the institute. The new title is not only a chance to change the logo, it is an opportunity to reform the institute's values: to pull together its various factions with a single focus, and create an institute which will raise the standards and confidence of the profession to punch its weight in the workplace and in political circles.
This inevitably means continuing to push the cause of linking personnel to business and organisational needs. The demand is out there and the profession is crying out for help in developing the right skills.
We see this week that institutional investors - which, remember, own 75 per cent of the UK stock market - are calling on firms to put the money where their mouth is when they say people are their main asset.
The climate is there for a stratospheric rise for the profession, but the IPD needs to lead the way.
While there is no doubt the institute does a lot of good work, it is failing to get that message across and command the affection that might be expected. It is a wealthy powerful body, it is just lacks a bit of zing.
This is an exciting opportunity. Grab it with both hands.