News: Performance Management
Weather economic storm with management training, say executives
13 October 2008
Improving management and leadership skills via training will see the majority of organisations weather the economic storm, according to a new poll of senior executives in the UK.
A fifth of over 1,000 leaders questioned by the Chartered Management Institute (CMI) admitted they do not consider their positions to be safe, although eight out of ten cited the training and development of staff to be key routes to businesses' long-term survival and competitiveness.
Jo Causon, director of marketing and corporate affairs at the CMI, remarked that the current challenging times have made it "more important than ever" for the nation's organisations to demonstrate strong and composed leadership.
"It's easier to manage when times are good, but the current climate is a real test of how strong the UK's leadership credentials really are," she noted.
Last week, Cass Business School chief executive Colin Carnall alluded to the positive impact of performance management during periods of economic instability as he analysed the fortunes of Britain's main banks.
Writing in the Financial Times, he singled out HSBC, one of the only institutions to emerge unscathed - thus far - from the credit crunch, for its regular management training and ongoing staff development.
