LONDON, UK, November 29, 2017 – The government’s announcement on plans to address UK productivity issues is a “step in the right direction” said Norman Broadbent plc Group CEO, Mike Brennan, in a letter published by the Financial Times. “There should be concerns, however, on how the government plans to tackle the looming shortage of management and future leadership talent and what must be done to address this potential crisis.”
His comments come against the backdrop of research from the Chartered Institute of Management and the Commission on the Future of Management. Both highlighted that poor management is costing our economy £84bn each year and that the UK labour market will need one million new managers by 2020.
“Staggeringly, four out of five British bosses are so-called ‘accidental managers’ who have received no kind of formal management training. Therefore, the UK ‘management gap’ in the years to come could be filled by managers who are inadequately prepared. This could exacerbate UK productivity further, significantly impacting our economy”, he said.
He continued: “Government urgently needs to help businesses create long-term sustainable programmes to bridge this gap and ensure UK PLCs remain competitive. Building a pipeline of talent and creating the next generation of managers and business leaders is vital. Not only is it essential to our country, but also our economy and the communities we live in.”
About Norman Broadbent Plc
The Norman Broadbent Group is an innovative provider of Leadership Acquisition & Advisory Services, comprising Board and Executive Search, Senior Interim Management, Research & Insight, Leadership Consulting & Assessment, and executive-level Recruitment Solutions. A UK-listed business, Norman Broadbent Group has a near 40-year track record advising UK and international corporates on leadership and management issues.
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