New qualification designed to boost economic growth

MOL has launched a new management programme to support business growth across the UK.

The CMI (Chartered Management Institute) Level 3 in First Line Management and Level 5 in Management and Leadership qualifications have been designed to help employees who find themselves in a managerial position yet require additional skills and knowledge to support them in their new role, and help them lead and develop their team.

Mike Spick, Product Manager at MOL, said: “As individuals, we work hard to progress in our careers, and similarly businesses are always looking to promote those employees who stand out with the right technical skills. However once in the new role, all too quickly people can find themselves out of their depth. The ‘accidental manager’ is not a new phenomenon, but it is something that is having a detrimental effect on industry, costing businesses huge amounts of money.”

The importance of management in driving economic growth is something that both business leaders and parliamentarians have focused on in recent years, creating the Commission on the Future of Management and Leadership to look at how the UK can produce the right kind of managers to galvanise business expansion and growth over the coming years.

Through consulting entrepreneurs, academic experts, young managers and established business leaders, the Commission found a substantial amount of evidence raised concerns about management and leadership shortcomings affecting organisations of all sizes, in short, many managers were simply having a detrimental impact upon business.

The general consensus is that the quality of managers is integral to performance, productivity and growth. Research by CMI shows that management and leadership development leads to a 23% increase in organisational performance and a 32% increase in employee engagement. The launch of these new CMI qualifications, delivered by MOL are focused on supporting businesses in upskilling valued employees in areas such as financial and project management.

Mike continued: “In today’s competitive world, training managers and leaders is not a ‘nice to have’ but a necessity. We firmly believe that better managers and leaders will lead to stronger economic growth. The new CMI qualifications we have launched have been specifically designed to support business growth across the UK, helping businesses and individuals become more efficient and effective.”

One of the benefits of the new MOL qualifications is the opportunity for learners to become a Chartered Manager, the ultimate recognition of the professional manager. And with research by CMI showing that Chartered Managers on average deliver £391,000 of value to their organisations, and that holding a professional qualification can lead to additional earnings of up to £81,000 over a career for individuals, the benefit to employers as well as individuals is significant.