Managers’ “Broadly Positive” About Prospects For 2020Thursday 02 January 2020
New CMI research finds managers more optimistic for 2020 than they were for 2019.
The latest Managers’ Voice survey from the Chartered Management Institute (CMI) finds that managers have a broadly positive outlook on the forthcoming year. Emerging from a year of low productivity and Brexit-induced uncertainty, the future appears to be ‘brighter’ for most managers surveyed. The survey took place between 24th October and 5th December 2019:
- 60% were optimistic about the prospects for their organisation
- 68% expected to receive a pay rise from their current employer
- 69% think it likely they will keep their job
However, although Managers’ optimism about the economy increased from 25% to 29% between 2018 and 2019, the majority were not actively optimistic.
Ann Francke, Chief Executive of the Chartered Management Institute, said:
Our managers are a vital barometer for business as a whole. It's good news that our members are positive on issues like salary increases and job security, but it is concerning to see so few respond positively about the outlook on the economy. This should act as a trigger for the government to invest in management and leadership skills in order to turbo-charge the economy and restore the confidence of British businesses.
Increased financial and job stability has emerged as a growing trend in the results, with 68 percent of managers expecting a pay rise in the new year, compared to 59% in 2018. Our research shows more managers think it likely they will keep their jobs (68% for 2020 versus 61% for 2019). However, managers employed full-time were more optimistic and secure about their economic prospects in the new year than managers employed part-time:
- Full time employees were 12 percentage points (62% versus 50%) more likely to be optimistic about the prospects for their organisations than part-time employees;
Full time paid employees were 11 percentage points (76% vs 57%) more likely to expect a pay rise than part time paid employees;
- Part time employees were over twice as likely to think they could lose their job in 2020 compared to full-time employees.
- Levels of optimism also vary across demographics and business size. Women were more likely to be pessimistic than men about prospects for their organisation (21% versus 15%) and prospects for the economy (49% versus 39%). Age was another trend, with managers under 50 over three times more likely to expect a promotion than managers over 50.
Contrasts also emerged between private and public sector organisations. Private sector managers more likely to be optimistic about about wider economic prospects in 2020, but public sector managers expecting better career prospects. While private sector managers were more optimistic about prospects for their organisation, public sector managers were:
- more likely to expect to receive a pay rise from their current employer in 2020 (72% versus 64%);
- more likely to think they would keep their job (74% versus 66%).
CMI welcomes the increase in optimism from managers for the new year, and hopes that concerns about the economy will be allayed by renewed inward investments and increased political and financial stability.
Notes to editors
The CMI Manager’s Voice Survey:
- The winter edition of the survey, which is the third edition, was undertaken between 24th October and 5th December 2019. 1,104 UK-based members responded.
Chartered Management Institute
- 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.