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Managers 'remain confident over growth prospects'
HR News |
Managers remain optimistic about their organisations' future prospects despite the UK's slide into a double-dip recession, it has been reported.
Research conducted by the Institute of Leadership & Management (ILM) found that 60 per cent of bosses believe their organisation will grow its output over the next year.
Almost a fifth (19 per cent) are expecting it to grow significantly, despite the current economic climate.
Some 71 per cent of managers said their organisation is well placed to capitalise on new growth opportunities.
And 85 per cent felt that growth was a priority for their organisation with 82 per cent confident in their own ability to drive expansion.
When asked about the key barriers to growth, respondents highlighted a shortage of skilled staff (25 per cent) and organisational processes (24 per cent) as the two main challenges they faced.
This was particularly acute in the public sector, where a third (33 per cent) of managers identified organisational processes as the most significant challenge they faced.
In the private sector, just 16 per cent identified this as their principle concern.
Charles Elvin, chief executive of the Institute of Leadership & Management, said that with the faltering economic recovery and recent reports of a double-dip recession, it is "encouraging" to see high levels of confidence and optimism amongst UK managers.
"Effective leadership and managerial skills are key to driving organisational growth, and at a time when they are being tested more than ever, the availability of support and development for managers is critical," he stated.
"Our findings also point to skills shortages as a key challenge for businesses."
Now, more than ever, it is important that business leaders equip employees with the skills they need for a better performing workforce, Mr Elvin added.
This can optimise organisational performance and move towards sustained growth.
Posted by John Lynes
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