Manufacturer receives third Royal Award in two years

Manufacturer 3P innovation has been awarded with a Princess Royal Training Award for its Graduate Development Programme – its third Royal award in two years.

Since launching the scheme, the Warwick-based company says it has seen a 16% decrease in staff turnover and a yearly average revenue growth of 23%.

As a high-tech engineering business working in a niche market, 3P innovation said its ability to grow as a business was limited by the ongoing technical skills gap in the industry.

To aid recruitment and boost business growth 3P launched the Graduate Development Programme (GDP) in 2017.

Founder and director of projects at 3P, Dr. David Seaward, said: “The GDP addresses skills issues which hampered growth. This initiative has been pivotal to our recent growth and we have seen a wide range of benefits. We have tangibly reduced staff turnover and recruitment costs.

“Staff satisfaction and improved morale are also very apparent as evidenced in our recent satisfaction survey, along with the desire to carry on working at 3P into the future. We have also seen rapid promotion of our graduate engineers as a further impact of the scheme. This enabled the senior management team to focus on other areas to further grow the business organically.”

This award follows on from 3P innovation’s previous two Royal awards; a Queen’s Award for Enterprise in Innovation awarded in 2020 and a Queen’s Award for Enterprise in International Trade awarded earlier on this year.