UK managers: resigned to the recession?

Never mind job cuts - an increasing proportion of British bosses are showing themselves the door.

Last Updated: 31 Aug 2010

In these tough economic times, you’d think people would be more determined than ever to cling on to their jobs. But an annual survey from the Chartered Management Institute has revealed that the number of managerial resignations actually increased last year. According to its 2010 National Management Salary Survey, resignations were at 4.7%, up from 4.5%, while the labour turnover rate jumped from 12.4% to 13.6%. Despite the economy being about as fertile as the moon, people are clearly still prepared to jack in their job in the hope of finding something better.

So what’s going on? It seems the recession may have encouraged people to jump ship, as opposed to clinging onto its railings. Indeed, more than half the employers questioned admitted that recent restructuring and job insecurity had caused people to go.

However, it sounds as though managers could be doing more to stop it. For 38.5% of employers, their ‘failure to offer career opportunities and training’ contributed to people leaving, while 61.5% admitted that head-hunters and recruitment consultants had worked their black magic in luring people away. Surely if things were being run correctly on the inside, then these calls to go elsewhere wouldn’t have quite the same appeal? It’s like blaming the milkman for your wife’s indiscretions.

The survey also revealed that there are still plenty of opportunities going begging. Some 46% of employers admitted to having vacancies they can’t fill. This seems barmy given the above, and the fact that the unemployment rate stands at nearly 2.5m.  By way of explanation, 77% of employers blame a lack of specialist skills among candidates. Perhaps what we need is a skills tsar. Or have we already got one of those?

Then again, almost a quarter of employers blame their recruitment troubles on the salaries they’re able to offer – and the bad news is that things don’t seem to be getting any better on that front. The CMI report, which surveyed more than 43,000 people, found the average salary increased by 2.5% across the UK last year, standing at £21,876 for junior staff, and £43,119 for team leaders. Although in a year when so many saw their pay frozen entirely, that’s arguably a lot better than nothing.

In today's bulletin:

Lloyds boss Eric Daniels waives £2.3m bonus - under duress
Gaviscon scam claims hard to digest for Reckitt Benckiser
UK managers: resigned to the recession?
Psychology at Work: Five ways to tackle workplace bullying
Buy farms and gold, insists Faber (aka Dr Doom)

Find this article useful?

Get more great articles like this in your inbox every lunchtime

What are Simon Roberts’ big 3 challenges at Sainsbury’s?

The grocer's new CEO has taken the reins at a critical time.

Should CEOs get political?

The protests that have erupted over George Floyd’s murder have prompted a corporate chorus of...

“You literally have to rewrite your job description”

One minute briefing: In hard times, your network becomes more important than ever, says Prezi...

5 bad habits to avoid when leading remotely

In a crisis, it can be hard to recognise when you've taken your eye off...

A top-level guide to scenario planning

COVID creates unprecedented uncertainty, but there are tried and tested ways of preparing for an...

Is it favouritism to protect an employee no one likes?

The Dominic Cummings affair shows the dangers of double standards, but it’s also true that...