Oil Group of Companies and BF&M Limited have been praised by Investors in People after a reassessment showed they were continuing to meet the IIP standard.

Oil Group of Companies and BF&M successfully completed the reassessment phase in November, 2005.

IIP chairman Jocene Wade said organisations who use the standard find that it makes a real difference. Benefits include improved performance, better teamwork, and a built in ability to manage change.

"On behalf of IIP Bermuda we congratulate Oil Group of Companies and BF&M for achieving the high standards set by IIP and praised the companies for their commitment to employees," Ms Wade said."

The ongoing development of employees is one of the keys to a successful business and encouraging people to be as successful in their lives as possible is an added benefit."

BF&M CEO John Wight said: "BF&M is very proud to have continued to maintain the IIP Standards. We were the first local company to qualify in 2002 after the initial pilot, a true milestone. BF&M thanks all our dedicated staff who continue to make this possible."

Oil Management president and CEO Robert Stauffer said: "Investors In People has been something we have worked very hard to achieve, it is something that we believe this truly recognises our efforts to invest in our people and their future careers and our future success."

Gail Pantry, Oil Management Services director of human resources, said: "We were the first international company to receive this award.

"While that was an an accomplishment, it is even more of an accomplishment to be re-certified which means we have maintained those high standards and are our committed to doing so in the future as our employees are our most important asset."

The IIP standard provides a framework for improving business performance and competitiveness through a planned approach to setting and communicating business objectives and developing people to meet these objectives.

"Recognition means that you have joined the thousands of other organisations internationally that value the impact of developing their staff," Ms Wade said.