Management community lives with regrets as individuals fail to achieve potential

05 October 2006 – Managers across the UK are plagued by a sense of regret, with many believing they have failed to reach their true potential.  According to a survey published today by the Chartered Management Institute, managers, at all levels, exhibit high levels of activity and energy at work, but are held back by red tape, poor resources and a lack of support.

Conducted during September 2006, the survey also suggests that organisations are failing to get the best from their employees.  Fewer than half of those questioned (47 per cent) believe they are fully using their skills in their current job.  Only 3 in 10 are adamant that they ‘play to their strengths’.

Key findings of the research include:

• Riddled with regret: more than one third (38 per cent) frequently look back over their career wishing they had developed new skills.  68 per cent also think they should have ‘asked more questions’ of their peers and colleagues and 1 in 5 (22 per cent) often consider how they could have progressed more quickly by ‘taking more risks’.

• Active management:  65 per cent of managers claim to be energetic at work.  Almost two-thirds (60 per cent) want to take on new projects and 53 per cent also suggest they ‘go the extra mile’ to achieve success.  However, more women (31 per cent) than men (25 per cent) constantly try to beat targets or deadlines.

• Stumbling blocks to success: Asked what reduces activity levels at work, managers cite bureaucracy (26 per cent) as the core problem and 23 per cent say they are held back by a lack of resources.  Junior and mid-level managers are more inclined to blame stress (10 per cent) than senior managers and directors (7 per cent) and more female managers claim they fail to achieve their potential due to a lack of internal support (21 per cent, compared to 14 per cent for male managers).

The survey also explored the factors that have most helped managers develop their career.  Top of the list is ‘developing experience within one organisation’ (17 per cent).  External influences such as the achievement of professional qualifications (14 per cent) and support from networking or mentoring (13 per cent) also rated highly.

However, signalling that they recognise there is room to improve and develop, many managers admit they are not keeping up-to-date with current market trends.  Less than half agree they are well informed about budgetary or financial management issues (48 per cent) and only 6 in 10 agree or strongly agree that they are aware of management best-practice.

Jo Causon, director, marketing and corporate affairs at the Chartered Management Institute, says: “The ability to achieve their potential is clearly at the forefront of individuals’ minds.  With only 20 per cent of the UK’s management community boasting a professional qualification, it should be a comfort to employers that their managers are actively seeking ways to improve.  However, it remains a concern that so many admit they are failing to keep up-to-date with vital skills and market trends.  If individuals and organisations are to prosper, this situation must be addressed.”

Reacting to the findings, the Chartered Management Institute has created a freely downloadable resource to help managers build their knowledge base.  A series of management checklists, diagnostic tools and general advice is available via a specially created website, www.managers.org.uk/active.  It will also host answers to career dilemmas, with advice provided by senior business leaders from Accenture, Britannia Building Society and National Express from December 2006.

- ends -

Further information:

Mike Petrook/Gemma Bird

Tel: 020 7497 0496; outside office hours: 07931 302 877

Email: press.office@managers.org.uk

Website: http://www.managers.org.uk

NOTES TO EDITORS

As the champion of management, the Chartered Management Institute shapes and supports the managers of tomorrow, helping them deliver results in a dynamic world. The Institute helps set and raise standards in management, encouraging development to improve performance. Moreover, with in-depth research and regular policy surveys of its 71,000 individual members and 450 corporate members, the Institute has a deep understanding of the key issues.  The Chartered Management Institute came into being on 1 April 2002, as a result of the Institute of Management being granted a Royal Charter.

This press release is designed to keep you informed of the latest Institute news. If you wish to unsubscribe from future mailings of this type please email with the word “unsubscribe” in the subject box. This will ensure you stop receiving all press release e-mails produced by the Institute, although you will continue to receive other types of electronic communication from time to time.