What is a Standard

Standards are specifications, guidelines or characteristics that can be used consistently to ensure that materials, products, processes and services are fit for their purpose. International Standards mean that consumers can have confidence that their products are safe, reliable and of good quality

Business Benefits of Standards

International Standards are strategic tools and guidelines to help companies tackle some of the most demanding challenges of modern business. They ensure that business operations are as efficient as possible, increase productivity and help companies access new markets. For business, they are strategic tools that reduce costs by minimizing waste and errors, and increasing productivity. They help companies to access new markets, level the playing field for developing countries and facilitate free and fair global trade.

  • Cost savings – International Standards help optimize operations and therefore improve the bottom line.
  • Enhanced customer satisfaction – International Standards help improve quality, enhance customer satisfaction and increase sales.
  • Access to new markets – International Standards help prevent trade barriers and open up global markets.
  • Increased market share – International Standards help increase productivity and competitive advantage.
  • Environmental benefits – International Standards help reduce negative impacts on the environment.

Estimates by the Organization for Economic Cooperation and Development (OECD) and the US Department of Commerce both show that standards and related conformity assessment (checking that products and services measure up to standards) have an impact on 80 % of the world’s trade in commodities.

  • In Canada, growth in the number of standards accounted for 17 % of the labor productivity growth rate and about 9 % of the growth rate in economic output (real GDP) over the 1981 to 2004 period.
  • Over the 40 years to 2002, a 1% increase in the number of Australian Standards is associated with a 0.17% increase in productivity across the economy.
  • The economic benefits of standardization represented about 1% of GDP in Germany.
  • In the United Kingdom, standards made an annual contribution of GBP 2.5 billion to the economy, and 13% of the growth in labor productivity was attributed to standards. Standards were identified as enablers of innovation and facilitators of technological change. The economic return on investment in standards made sound business sense at both macro- and micro-economic levels.

ISO HR Standards

    • ISO 30408, Human Resource Management – Guidelines on Human Governance, provides the guidelines to structure an effective human governance system that can respond more effectively to organizational and operational needs but also foster increased collaboration across all stakeholders, anticipate and manage human resource risks and develop a company culture that is aligned with its values.
    • ISO 30405, Human Resource Management – Guidelines on Recruitment, provides guidance on effective recruitment processes and procedures, and can be used by anyone involved in recruiting staff, whether they be HR professionals or not.
    • ISO 3040, Human Resource Management – Workforce Planning, helps organizations respond more effectively to their current and projected requirements for staff.
    • ISO 30400, Human Resource Management – Vocabulary, provides a common understanding of the fundamental terms used in human resource management standards.

For more details click at https://www.iso.org/news/2016/09/Ref2111.html

Disclaimer

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