The Chartered Institute of Personnel Management (CIPM) has recorded a 117.32% growth in income during the financial year ended December 31, 2011.This represents a record of income over expenditure of N81.5 million as against N37.5 million in the previous year.The company's net asset stood at N411.93 million in 2011 as against N330.39 recorded in 2010, amounting to a growth of 24.68 per cent. The management attributed the increase to improved performance, expansion of the company's asset base and increase in bottom line.The President and Chairman of the council of CIPM, Mr Abiola Popoola, speaking at the institute's 43rd annual general meeting in Lagos, said the performance was a recovery from the surplus trend established in 2009 where it posted N63.5 million as surplus, adding that the company was determined to sustain the upward trend of surplus.Popoola noted that while the institute would commend members for the timely payment of their annual dues, it was however regrettable that from the company's records only 1,971 out of 12,120, about 16 per cent of members, were financially up to date as at the end of 2011.He, however, appealed to defaulting members to make good their financial obligations, adding that the company would continually improve its services to ensure that it deliver on its promise to members.Popoola noted that the e-library valued at N24 million recently inaugurated by the institute was part of the institute's contribution towards enhancing the development of the people as human resources managers.Popoola said the idea of the e-library emanated from the library development plan brought forward by the institute management in 2008.He noted that the initial idea was to have just aesthetically updated library that would be conducive enough for information assimilation.'With more innovative ideas however, it was discovered that it would not be good enough to have an updated reading environment that lacks world-class learning materials that would serve the institute's members anywhere they are, hence the concept of the e-library,' Popoola said.He noted that the e-library was designed to meet the needs, yearnings and aspirations of the modern library users who are no longer satisfied with the traditional library with its attendant limitations.The institute had recently inducted 289 persons for successfully scaling through its qualifying examination processes while 55 others were inducted for having 10 years post graduation experience, five years of which was in Human Resources.
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