| Half of senior managers to quit within two years |
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| | A UK study anticipates a
looming leadership
crisis. Research by
independent management
consultants, Berkshire
Consultancy, has
revealed that Britain’s
largest companies risk a
leadership
‘merry-go-round’ as
economic stability
returns.
The Agile Leader
Report, examining the
views of senior
executives at top-500 UK
companies, has uncovered
a worrying level of
career dissatisfaction
and a growing appetite
for new employment.
Dissatisfaction
pandemic
Berkshire
Consultancy’s research
found that almost two
thirds (62%) of UK
business leaders are
dissatisfied with their
current roles and more
than half (57%) are
unhappy with their
employers.
As a result nearly
half (43%) are actively
looking for a new role
outside their current
organisations. Almost a
third (29%) plan to
leave their jobs within
the next year, rising to
54% within two years.
Sarah Hunter, account
director at Berkshire
Consultancy, said:
“Leadership succession
planning and development
took a back seat during
the recession, leaving
many senior executives
feeling unsupported and
unsatisfied. Those
companies that are
already struggling risk
losing critical talent | |
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| | just when they need it
the most.”
A waiting game
The research
indicates that, despite
high levels of
dissatisfaction, many
leaders are biding their
time and awaiting
clearer signs of
economic recovery before
moving on. Almost half
(43%) of senior
executives cite economic
uncertainty as their
primary reason for
staying put.
But executives are
poised to move on with
56% saying they would
have left in the last
year had an appropriate
opportunity arisen. One
in 10 have already
accepted another job.
Berkshire director
Joanna Knight said:
“Companies have
performed well through
the recession are well
placed to gain further
competitive advantage by
tapping the increasingly
fluid management talent
pool. Those businesses
guilty of neglecting top
talent need to act fast
to avoid a serious
brain-drain.”
Hunter added: “While
many executives are
already set to jump
ship, changes can be
made to re-engage
leaders and reduce the
severity of the
approaching management
merry-go-round. Those at
the top need to be
honest and visible and
involve leaders fully in
taking the company
forwards.
“Companies should | |
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| | also think creatively
about the way senior
managers are catered for
and positioned in the
business – lateral moves
and new responsibilities
are great places to
start,” she said.
Talent retention
challenge
Increasingly ‘itchy
feet’ among senior
executives has left
bosses downbeat about
retaining their best
leadership talent.
Half of bosses admit
they lack confidence in
their organisation’s
ability to hold on to
the best leaders as the
economic outlook
improves. On average,
they expect to lose
nearly a third (29%) of
leaders over the next
year, and close to two
fifths (38%) over the
next two years.
On a broader economic
level, the UK economy
could also face a
worrying drain on
leadership talent.
Nearly three quarters
(71%) of senior managers
say they would consider
a move overseas.
Knight commented:
“Remedial action is
vital if UK businesses,
and UK PLC as a whole,
is to hold onto its top
talent. It is time for
firms to provide their
management teams with
the skills and
challenges needed to
secure their buy-in and
enthusiasm for the
future of their
company.” | |
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