Member Article

Lowell Group demonstrates world class best practice

Leeds-based Lowell Group, one of the city’s major employers with 550 staff, has become one of just 600 organisations nationwide and only the 18th in West Yorkshire to be awarded Investors in People Gold status.

To mark the occasion, the Rt Hon Hilary Benn, MP for Leeds central and the Shadow Secretary of State for Communities and Local Government, visited the company (31 August 2012) to unveil a special commemorative plaque.

The prestigious award recognises that Lowell Group, a specialist debt purchaser, operates the highest standards of people management and development to achieve its business goals.

Lowell Group not only had to demonstrate commitment from senior management to team member communication, development and engagement; but also provide compelling evidence that all team members are fully engaged in the vision, values and development of the business.

Investors in People is the UK’s leading people management standard. Launched by the Government in 1991, it is a business improvement framework designed to help all kinds of organisations develop performance through their people.

Since being launched, over 30,000 UK organisations have gained Investors in People accreditation, but to date less than three per cent have gone on to achieve the Gold standard.

To achieve Gold status, organisations must meet a minimum of 165 evidence requirements compared to 39 for the Investors in People Standard.

James Cornell, Lowell Group’s chief executive officer commented: “Our success to date demonstrates that that we have a highly effective business strategy. It is built on the quality and commitment of our people, we have a fantastic team of ‘better people’ who understand what we are trying to achieve and work together to help us deliver our business goals. Investors in People Gold accreditation is the ultimate external endorsement of this and we are delighted that Hilary Benn has been able join us today and help us celebrate!”

Hilary Benn said: “I would like to congratulate the Lowell Group on achieving IIP gold status. It is a recognition of the culture of the company which deals with people who are often facing difficult circumstances. Listening and trying to help is really important and this IIP award acknowledges the way the company goes about its work.”

Lowell Group currently has over 8.8 million customer accounts, and estimates it has a relationship with over 20% of the UK credit population at an individual level. Since 2004 the business has grown its team from 30 to over 550 today.

In March this year Lowell Group successfully placed a £200 million high yield bond to refinance existing debt, established a solid long term financial base on which to continue to grow and develop the business.

If you would like to find out more about Investors in People and how it can mean business for your organisation, click here to visit the idg website, official Investors in People partner in the North of England.

This was posted in Bdaily's Members' News section by idg .