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British firms are failing to invest in the next generation of leaders, according to a new survey of employees.
The research – commissioned by ACCA (the Association of Chartered Certified Accountants) – found a quarter (23%) of British workers don’t think there is training for potential leaders before they move into leadership positions and more than a fifth (22%) say there aren’t support structures in place for people who move into management positions.
The ACCA says poor management costs the UK economy £84bn each year.
The study also shows that a third (33%) of UK employees don’t think their company is doing enough to groom or identify people with leadership potential and a quarter of UK employees couldn’t name their next boss if their existing one quit tomorrow. The ACCA says this highlights how British firms aren’t investing enough in succession planning.
The survey also shows a gender difference in perceptions about leadership potential: 83% of men questioned think there is a support structure in place for people to move into management/ leadership positions, compared to only 69% of women.
Workers were asked why they hadn’t considered moving into management positions, and just under a third (29%) said there was ‘no opportunity to move up’. A quarter (25%) said there was a lack of financial incentive to compensate for additional responsibility and more than 1 in 10 said it was because there weren’t any inspirational leadership role models.
The poll surveyed 1,508 employees between 14 May 2018 and 18 May 2018, in companies with 10 or more employees.