Press Release

Going for Growth – CMI response to government strategy for economic recovery

7 January 2010

The Chartered Management Institute (CMI) welcomes the government's new strategy, announced today, for long-term economic prosperity.

Responding to the strategy, called 'Going for Growth' Petra Wilton, CMI's director of policy and research, comments: "Professional managers across the UK will welcome the Strategy's recognition that 'investing in the skills of its people is one of the most productive investments a country or business can make'.

"However, it is disappointing that there is no specific reference to management and leadership skills. Without a new focus on these pivotal skills, UK employers will struggle to meet the challenges identified in the Strategy such as creating a low-carbon economy or building innovative new businesses. Our latest research, published in partnership with NESTA, found that management and leadership support is one of the most important factors in successful innovation."

CMI has called for greater incentives for employers to invest in management and leadership skills. Wilton adds: "We lag behind many of our competitors in the amount we invest in management development. Eighty-five per cent of managers back fiscal incentives that encourage employer investment in accredited management development. New incentives could make a real difference.

"CMI is also seeking to develop a Youth Academy for Management and Leadership, as announced in its Manifesto for a Better Managed Britain. We support efforts to prevent a generation of young people from falling into long term unemployment. Young people will also benefit from learning about management earlier, which would increase their skills and confidence as they look to enter the workplace. Equipping school and university leavers with the skills that employers need will be vital for future economic growth."