Saltaire, 23 November, 2009 – Pace (LSE: PIC), a leading global developer of digital TV technologies for the payTV industry, has scooped another two prestigious HR awards. The judges at the CIPD (Chartered Institute of Personnel and Development) 2009 People Management Awards selected Pace as winners of the Change Management category and the overall winner at a ceremony in Manchester on Wednesday evening.
The awards, which follow closely Pace’s win in the CBI’s Human Capital Award, recognise the huge impact the company’s HR strategy has played in transforming its business success and driving towards the goal of being the world’s best set-top box company.
The overall transformation objective was to create a new company culture, organisational structure and management systems through several key areas:
- developing great leadership
- delivering an efficient and effective organisation design
- improving individual performance
- ensuring HR functional excellence
- improving the working environment
In practice, this led to a new global customer-focused organisation structure, a behaviours model incorporating a broader performance management approach, and a redesign of the total reward structures to align individual and company performance in both the short and long term.
Following the transformation project, Pace has grown into a truly global business, with 2008 revenues of over £745 million, profits of £28.5 million and net cash of nearly £40 million. Customers have increased from 20 customers to over 100, including more than 35 of the world’s top 100 operators, and market share has doubled.
“We’re all very proud of what we’ve accomplished over the last few years and it’s a huge achievement to add the CIPD’s recognition to the CBI award we won only last month,“ commented Jill Ezard, HR Director, Pace. “The real payback, however, is the company’s tremendous business success, and the contribution our employees have made to this.”
Jackie Orme, CIPD Chief Executive, says: “Pace plc’s journey is a wonderful example of the degree of success that can be achieved when a clear strategy is developed and delivered. It puts business success at its heart, which is especially important when implementing a wide-ranging change programme. By aligning cultural, leadership and performance transformation to the corporate objectives, the HR team are putting the HR agenda at the forefront of business strategy. They have also demonstrated that strong leadership and a commitment to employee engagement and professional development are essential ingredients in the recipe for organisational success.”
About Pace plc
Pace plc (LSE:PIC) is a leading technology developer for the global payTV industry, working across satellite, cable, IPTV and terrestrial platforms. Pace has one of the world's most experienced specialist engineering teams, developing intelligent and innovative products and services for both payTV operators and retail markets across the world.
Pace employs over 950 people in locations around the world, including France, the USA, India and Hong Kong. Pace's international headquarters are in Saltaire, West Yorkshire, UK. For more information on Pace, please visit http://www.pace.com.
For further information, contact:
André Labadie
Pace
+44 (0)1274 538133
+44 (0)7812 476206
andre.labadie@pace.com
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