Will it help me move my career forward and become a more employable manager?
Before you make the decision to spend your time and money achieving a Chartered Management Institute qualification take a few minutes to read the statistics below:
Dr Chris Mabey, in a new research paper called ‘Management Development Works: The Evidence’ (part of the Achieving Management Excellence Series 1996 – 2004) used the following statistics:
- Over one-in-four employers report insufficient management skills (Hogarth and Wilson, 2002)
- According to the Labour Force Survey, around 35% of managers have no formal qualifications, around 25% are qualified to Level 3 or equivalent and fewer than 40% are qualified to level 4 or higher.
Therefore, qualified managers and those with evidence of their effectiveness in the workplace are those most in demand.
Respondents to the Government’s Workplace Employees Relations Survey (1998) found that:
- 24% of managers were poor at “dealing with work problems”
- 30% of managers were poor at “keeping everyone up to date about proposed changes”
- 34% of managers were poor at “responding to suggestions from employees”
- 38.5% of managers were poor at “providing everyone with a chance to comment on proposals”
Will a management qualification help me become better at my job?
LSE and McKinsey (2001) evaluated management practice in 100 firms in the UK, US, France and Germany to examine the role of management in explaining productivity. A 10% increase in ‘managerial practices’ is associated with a 5% increase in productivity.
Dearden (2002) used data from the Labour Force Survey and industry-level productivity data to show that investment in vocational qualifications increased the value of each worker in productivity terms far more than it cost in terms of the time needed to complete the qualifications.
So it does make a difference!
What makes an effective manager?
Management Development Works: The Evidence, is the latest research tracking trends over an eight-year period in employer’s attitudes to management development. This research shows that employers rate experienced-based learning most highly, as shown by the significant growth in both in-house management development and job-related management qualifications.
In August 2004, the Department for the Education and Skills (DfES) also published the findings of a detailed study into how management development affects performance. The DfES found that management and leadership development most clearly contributes to business performance when it is carried out in or close to companies and organisations, and for managers who are already in post or are seeking career progression.
The Qualified Manager, a CMI research report that surveyed over 3000 managers, published the following results: 72% of managers said it was an advantage to hold a management qualification as it was portable and could be taken from job to job 71% of managers said a qualification improves the chance of employment.
Almost all respondents believe there will be a growth in the demand for appropriate business and management qualifications
The report made the following recommendations for individuals:
- Managers must become more proactive in ensuring they are trained in the skills appropriate to the future job market
- Individuals should seek to increase their employability through the development of a range of transferable skills
So, if you were in any doubt as to whether a management qualification was worth the time, money and effort – the research says it will make a real difference to your chances and opportunities to progress your career.