Moves by the Chartered Institute of Personnel Management of Nigeria (CIPM) to sanction unprofessional practices in the industry through the localised Human Resource (HR) practice standard would soon be completed.
The Guardian gathered that the standard, when put in place, would open up a stream of possibilities, including specialisation in practice and provide a basis to sanction unprofessional practices.
Immediate past president of the CIPM, Wale Adediran, stated this during the institute’s 52nd yearly general meeting, during which a new president, Mojeed Taofik, emerged to pilot affairs of the institute for the next two years.
Adediran said the project which had taken off fully and expected to be completed by year end, had a strong coalition of the big four consulting firms.
He said subject matter experts also from various sectors had been constituted into a board and workstream teams under the coordination of the institute’s Registrar/Chief Executive Officer, Busola Alofe.
Giving an update into financial progress of the body despite disruption occasioned by the pandemic, he said the institute recorded one per cent increase in net surplus, delivering N121.7 million as against N120.1 million in 2019.
He said the institute had continued to maintain a total asset base worth over N1 billion; with N1.6 billion in total assets in 2020, showing a six per cent growth from N1.5 billion in 2019.
He attributed the growth to the increase in cash assets and the net surplus for the year.
He gave an update on progresses made on the four strategic thrusts he outlined when he took over the mantle of leadership.
He described 2020 as a year of significant disruption and impressive progress for the institute.
The pace, according to him, was encouraging, despite the economic challenges caused by the pandemic, adding that attaining the milestones had built upon the hard work, wisdom and vision of its founders and the immeasurable sacrifices of leaders, as well as the drive and support of members and volunteers, who serve meritoriously with passion.
