7 Tips for Business Success
Today’s HR Guest Voice is from Jon Freeman of the UK’s Chartered Management Institute:
Revealing the secrets of success of high performing organizations, a report from CMI-Penna, produced with Henley Business School provides a number of practical questions for all employers to consider:
• The importance of evaluation: what measures do you use to know that your development activities are aligned to your business targets and achieving maximum impact?
• Qualifications hit the ‘sweet spot’: being seen as the most effective way for developing managers’ skills to do their jobs – have you considered opportunities for your managers to have their skills accredited?
• Creating a rich learning environment: given the reliance upon on-the-job training, are you providing a sufficiently strong learning environment through the use of coaching, access to e-learning resources and external networks?
• Making leadership and management skills an essential part of the ‘skills for growth’ strategies, at national and local level.
• Enabling young people to have earlier access to management and leadership development activities through reviewing services at schools and colleges.
• Taking an active role in promoting high quality management training and accredited learning by supporting organization engagement with university business schools and professional bodies.
• Investing strategically in the leadership and management skills of the Civil Service and public sector.
Background to the research
43% of managers believe their line managers to be ineffective, according to the largest ever in-depth investigation into the business benefits of management and leadership development, released by CMI and Penna.
The research shows organizational behavior and leadership abilities to be clearly linked – with only 39% of managers in low performing businesses deeming their line managers to be effective, compared to 80% in high performing organizations.
The CMI-Penna report, produced with Henley Business School, draws on findings from almost 4,500 managers, including over 300 CEOs and 550 HR managers. The research provides additional evidence showing how managers and leadership development activities can lead to increases of up to 32% in people performance and 23% in overall organizational performance, across organizations of all sectors and sizes.
The research finds that too few employers are doing the right things to strengthen the returns on investment in management and leadership.
Although many employers are investing in a vast array of 26 management types and leadership development activities – with the average manager having been exposed to six over the last three years – types of training being offered are not always those rated by managers as most effective.
Accredited education and qualifications, including MBAs and professional bodies’ qualification, are rated as having the most impact on individuals’ performance, yet there is still widespread reliance on ‘on-the-job’ experience and short courses.
The effectiveness of different types of training also varies between certain management levels – for example, many CEOs wish they had access to coaching earlier in their careers while professional qualifications are seen as particularly valuable for new and junior managers.
Management Dynamic tools
In response to research, the Chartered Management Institute (CMI) – the UK’s only Chartered professional management body- is offering employers the opportunity to use their FREE online Management Dynamic tool
The tool will enable them to connect their company’s priorities in just 2 minutes and see how tailored management and leadership development could improve their manager’s work more effectively and ultimately improving organizational performance. The Management Dynamic tool also offers:
- A free management checklist based on your company’s challenges
- Bespoke tips
- Opportunities to download latest research reports
In addition, those that completed the Management Dynamic before 30th November will get 3 months’ FREE access to ManagementDirect, CMI’s comprehensive online resource portal – for up to 50 of their managers – allowing them to apply directly lead management practices and add substantial value to their organizations.
For those that prefer a face-to-face consultation, CMI is offering a FREE consultation with a CMI specialist. CMI can be contacted HERE.