To Unleash Britain’s Potential, Invest In Management and LeadershipWednesday 18 December 2019
The Chartered Management Institute sets out key ways for the Conservative Party to deliver on their promise to “unleash Britain’s potential”.
With a majority government and clarity on Brexit, businesses can begin bouncing back from years of uncertainty. To assist this, the government must work with business and professional bodies to invest in, upskill, and diversify the workforce. Only through a better-educated and inclusive workforce will we be able to boost productivity and equip businesses across the UK to build a brighter future.
CMI knows that better management and leadership is key to harnessing people’s potential. Skilled managers and leaders empower their teams. Together they take advantage of our newfound political certainty and turbo-charge the economy.
Ann Francke, Chief Executive of the Chartered Management Institute, said:
The new Government must invest in the skills of the modern knowledge economy - digital, advanced manufacturing, healthcare and infrastructure. But it is vitally important to include management and leadership skills in that investment. Without good management practices, it will be tough to turn the investment in these vital sectors into a meaningful boost for Britain's productivity and future potential.
The government must also work with British businesses to create a more inclusive, diverse workforce, because balance makes business sense. McKinsey estimates that inclusive leadership could produce a £150 billion “productivity dividend” for the UK economy. If we are to capture this financial benefit, we need skilled and conscious leaders across the country, creating positive change.
Government policy and spending is key to achieving these productivity goals. The ‘accidental manager’ - those promoted without formal training or management qualifications - costs the UK economy up to £84 billion pounds a year. To avoid this and propel the UK into greater growth, the government must work to upskill the nation, creating conscious leaders who act as agents for positive change and economic growth.
Notes to editors
- The Chartered Management Institute is the Chartered professional body for management and leadership, counting more than 132,000 managers and leaders in its membership community
- There are 7,697 Chartered Managers
- Backed by a unique Royal Charter, CMI is the only organisation able to award Chartered Manager status - the ultimate management accolade, which is proven to boost individuals’ career prospects, management capability and impact in the workplace.
- New research by CMI, Russell Reynolds Associates and 30% Club on “Sponsoring women’s success” - executive leaders views on sponsoring and mentoring” is out now - to receive copies of the report please contact CMI.