People policies share credit for Standard Life success

Standard
Life is to create 400 new jobs in Edinburgh, thanks to a record set of annual figures.

The
past year has seen business for the insurance and investments group expand by
61 per cent to £8.3bn
46 per cent ahead of targets set a year ago.

Against the background of an
intensely volatile stockmarket and a global economic downturn, it represents a
victory for the organisations’ financial stability and capacity to adapt.

David
Barr, recruitment manager for Standard Life Assurance, also believes it has
much to do with their people policies.

He
said, "We have recently introduced a whole range of policies where HR has
worked very closely with the business, such as performance management systems and a restructuring of
the management job levels. We have also completely done away with grades and
instituted a market-related way of paying staff."

Standard
Life’s performance puts it ahead of industry rivals in Britain, many of which have also recorded a rise
in sales over the past 12 months.

Barr
believes this has much to do with the organisations’ ability to attract and
retain competent staff.

He
said, "We like to think that we are progressive and the company is
progressive. HR is heavily involved in getting the right people and training
them and we also help line managers to ensure that working conditions are as
competitive as possible.

"The
company recognises that the success of the last year is founded on investment
in the business and investment in the our people."

By Phil Boucher

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