Good quality leadership and management has always been a linchpin for the growth and sustainability of any organisation. Its absence can lead to a serious decline in performance through disengaged employees and a lack of a coherent strategy, ultimately leading to a loss in revenue. In today’s commercial world the current business environment means that there has never been a greater need for outstanding management and leadership.
Recent research by the Chartered Management Institute (CMI) has revealed that management in the United Kingdom is being out-performed by the United States, Germany and Japan. Not only is this costing the UK £19 billion a year, it is having an impact on employees. A recent survey revealed that a shocking 80% of employees feel that their managers set a bad example, and 72% of organisations feel they lack good management and leadership.
These findings make for alarming reading and, if the status quo is allowed to continue, the consequences could be catastrophic. The results of the survey would suggest that this is not an emerging problem; it is something that is entrenched in the culture of many organisations. Clearly the time has come for organisations to take active steps by improving their management and leadership skills.
Currently, only one in five UK managers are professionally qualified. Two thirds of organisations in the UK offer no formal management training with the average manager waiting 10 years before they receive any. With training having been found to boost organisational performance by 23% and people performance by 32%, this deficit can, at least partially, be attributed to a lack of proper learning and development strategies within management and leadership field.
It is no wonder that surveys consistently find that professionally qualified managers command higher salaries than their contemporaries who’ve received no training. Professionally qualified managers that possess the skills necessary to boost the performance of their employees and their organisation are worth their weight in gold.
The same research from the CMI found that a manager who is professionally qualified brings approximately £390,000 in added value to their organisation, with two thirds of them being able to exceed their objectives. From the sample of managers who had undergone training:
87% noted improved confidence
62% noted a sustained improvement in people management
61% noted increased performance at work as a result of their training
Overall 73% recognised improved management ability
What is clear is that companies in the UK need to recognise the problem and investigate the causes and develop effective solutions. Training brings immense benefits to the entire organisation it will tackle the widespread and persistent problem of managers failing to inspire and engage their staff. There is a clear link between Management and Leadership training. As management begins to professionalise, organisations must treat this as a matter of urgency.
Leaders with the necessary skills are able to excel in their role by boosting employee engagement, thinking strategically and achieving overall growth and productivityThe organisations that offer the opportunity to develop those skills will be able to attract and retain the best managers, as well as making the most of their existing talent. Now is the time to wake up and tackle the problem head on and the first step to doing that is to start taking management and leadership training seriously.
With training budgets being arranged for the new financial year, this is the perfect time to make arrangements for 2016/17. MOL specialise in professional learning solutions that target your specific learning requirements.