“Achieving the Investors in Excellence Standard is a sign that in these difficult times, we are still travelling in the right direction. Recognition as an Investor in Excellence shows our stakeholders that not only are we holding our ground with profit lines, but we are investing in the depot, our people and our customers”
Lee Morton, Depot General Manager, 3663 Catering Equipment (pictured middle receiving the Investors in Excellence plaque from Ian Nield, chief executive at Investors in Excellence and double Olympic gold medalist Steve Williams OBE)
By working with the Investors in Excellence Standard, 3663 Catering Equipment has identified several key benefits of implementing the Standard as an improvement framework including:
• Increased profits: From a loss-making position in 2009, the depot now delivers double digit profits resulting in a 160% increase in profits to date (2011).
• Improved employee satisfaction: Increase in overall employee satisfaction results to 82% making it one of the leading arms in the business with the company overall average at 67%.
• Enhanced customer credibility: The kudos of achieving certification as an Investor in Excellence has helped the depot gain major national accounts.
• Smarter working: A structured approach to business improvement gave 3663 Catering Equipment the roadmap it needed to effectively keep out-going costs at a minimum while with careful planning, tripling its output.
• Staff engagement: The Standard involved everyone at the right level helping the depot to get to know its team and understand what each individual can bring to the table.
• Common improvement language: All employees are able to translate and understand the importance of improvement in their daily work; set the process up, Plan, Do, Check, Act and repeat
To read more about how 3663 Catering Equipment successfully implemented the principles of excellence please CLICK HERE for the full case study.
If you would like to read more about how IiE has helped organisation in other sectors please CLICK HERE.