Wanted: Innovative managers to drive economic recovery

The UK’s managers and leaders are searching for innovative people to help them overcome the challenges of the recession, according to research into innovation in organisations across the country.  The report, called ‘Innovation for Recovery’, highlights the behaviours and characteristics that British managers need to exhibit to drive economic recovery – and explores how improved teamwork is helping to turn innovative ideas into business reality.

Published by the Chartered Management Institute (CMI) and the National Endowment for Science, Technology and the Arts (NESTA), the report reveals that 70 per cent of managers believe that their ‘focus on innovation will be reinforced’ as a result of the downturn. According to the data, which is based on a survey of 850 private, public and third sector organisations, one in four respondents believe that executives will now spend more of their time on innovation than day-to-day operations. 

Asked specifically about the three most important character traits of ‘innovative employees’, respondents focused on individuals’ ability to embrace change and tackle difficult situations.  According to the survey, the most important characteristic of innovative managers is that of ‘openness to ideas’ (59 per cent), followed by ‘problem solving’ (50 per cent) and ‘personal initiative’ (43 per cent). 

CMI’s chief executive, Ruth Spellman, says: “As we emerge from one of the deepest recessions in British economic history, it is clear that employers have recognised the value of finding and developing staff with a capacity to innovate.  It is, after all, a skill that should be cherished because the ability to find and try something new or different is a critical differentiator for businesses in what is an increasingly competitive marketplace.”

Innovative Teams

The report makes it clear that employers also recognise that they cannot rely on the innovative skills of a few individuals to create a culture of innovation.  Instead, according to the research, the recession is having some positive effects on teamwork. Just over half (54 per cent) of respondents claim that ‘team members will become more co-operative and willing to combine their efforts’ and two-thirds (69 per cent) say they now benefit from a shared ‘we’re in it together’ attitude.  A similar proportion (66 per cent) also say the general management style they increasingly see is ‘participative and collaborative’, with many employers now trying to create a ‘culture of innovation’ in their organisation – despite the threat of cut-backs as growth has faltered.

Jonathan Kestenbaum, NESTA’s Chief Executive, comments: “Innovation doesn’t take place in a vacuum and it’s often the most unusual collaborations that spark the best new ideas. When budgets are tight and resources limited, those organisations that have empowered their employees to come up with new approaches are those that will stay ahead of the game’.

The executive summary and full report can be downloaded via www.managers.org.uk/innovation.

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Further information:

Mike Petrook / Jo Bowles, CMI Press Office

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

Email: press.office@managers.org.uk

Chartered Management Institute

Press Office

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London WC2R 0EZ

NOTES TO EDITORS

• The Chartered Management Institute (CMI) is the only chartered professional body in the UK dedicated to promoting the highest standards of management and leadership excellence.  CMI is the guardian of the National Occupational Standards for Management and Leadership and sets the standards that others follow

• As a membership organisation, CMI has been providing forward-thinking advice and support to individuals and businesses, for more than 50 years, and continues to give managers and leaders, and the organisations they work in, the tools they need to improve their performance and make an impact

• As the only organisation to offer qualifications from Level 2 (GCSE) to Level 8 (PhD), CMI is committed to equipping individuals with the skills and knowledge to be exceptional managers and leaders.  Qualifications and accreditations such as Chartered Manager, combined with products such as CMI’s Continuous Professional Development scheme and the online support resource, ManagementDirect, support the development of management and leadership excellence across the UK

• Through in-depth research and policy surveys of its 81,000 individual and 450 corporate members, CMI maintains its position as the premier authority on key management and leadership issues

• NESTA is the largest independent endowment in the UK. Its mission is to support innovation to drive economic recovery and solve some of the UK's major social challenges. NESTA is a world leader in its field and promotes innovation through a blend of practical programmes, policy and research and investment in early-stage companies.  www.nesta.org.uk