Management has a reputation issue in the UK. Many workers in organisations across the economy mistrust their managers, lacking confidence in their ability to do their jobs well. The public are suspicious too, laying the blame at managers' doors for the scandals and crises that have erupted at the heart of institutions from the BBC to Barclays. Despite the fact that UKCES/government figures predict the UK will need 544,000 new managers by 2020, it isn't seen by young people as a desirable profession to enter into.
Taking up this theme, another British institution - Which? - has launched a campaign calling for perhaps those most maligned of managers, bankers, to be forced to comply with a code of conduct. Those failing to comply in the most serious instances would not be allowed to work in the sector again.
This is something that, at CMI, we've been calling for to be applied to the whole management profession. Our members must work to a code of conduct and ethics and we are currently working with a range of UK employers to help them measure their management and leadership performance accordingly.
Our most recent research into management professionalism shows that managers are acutely aware of these reputational and performance issues. It seems they are responding by seeking to prove their professionalism through acquiring a seal of approval for their abilities and integrity. They want something that sets them apart - demonstrating that they are excellent managers and leaders who make a tangible difference to the organisations they work for.
Almost all (97 per cent) managers achieving chartered status did so in order to build professional recognition. In a similar vein, more than nine in 10 said they sought to become accredited to prove their commitment to ongoing professional development and to management as a profession. At a time when scandals that seem predominantly motivated by greed break all too often, just 24 per cent of Chartered Managers surveyed were motivated by the prospect of a pay rise.
There are financial and career benefits be made through accreditation, but it is employers that stand to benefit in particular. More than two thirds of the managers consulted reported making significant savings or performance improvements as a result of chartership, with a similar number implementing product, service or market innovations. In monetary terms, these contributions were valued at over £326,000 in added value, on average. Managers who have signed up to perform their roles with integrity, following a set code of conduct, perform better - as do the organisations they work for.
I hope this is the start of a new era for management. After the last few turbulent years, we need individuals to demonstrate that they work to the highest standards, while employers must seek out those employees and support them in meeting those standards. If managers and management are to gain the trust and confidence of their employees, customers and stakeholders, they must first take action to show they deserve it.