Poor management is costing billions

Talented management is key to boosting productivity in British businesses as nationwide productivity dips. Making this the first time the country has seen a decline in productivity since 2015, it marks the lowest average productivity recorded in over 20 years and concerns are being raised that poor management is to blame.

Worried that four in five British bosses are ‘accidental managers’ who have never had any formal training or preparation, the Chartered Management Institute (CMI) is calling for greater investment for managers. Urging businesses to invest in increased skill training for managers, the firm is pushing for more businesses to take up schemes and programs such as apprenticeships to ensure more efficiency and lead to a more cost-effective workplace.

The CMI believes that Britain is currently lagging behind, and with the effects of Brexit putting more pressure on recruiters, more needs to be done now to stay globally competitive. Closing the gap and maintaining the UK’s position in as a strong business force is essential, according to the team.

“Action needs to be taken before this becomes a downward trend,” said Ann Francke, chief executive of the CMI. “We need better home-grown leaders, and more of them, to close the productivity gap and investing in management apprenticeships will provide school leavers and existing workers alike with the hands-on, practical experience needed to gain those management and leadership capabilities.”

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