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Economic gloom – senior executives call for long-term focus
From the Chartered Management Institute - Temptation to make knee-jerk responses must be held in check by experience and considered, decisive, action
A poll of 1,118 senior executives reveals that the UK’s managers and leaders are calling for calm in the face of the continued economic gloom. Respondents to a survey, published today by the Chartered Management Institute, argue that the temptation to make knee-jerk responses must be held in check by experience and considered, decisive, action.
The survey shows that just 1 in 5 individuals feel secure in their current job. However, although half (54 per cent) admit that ‘work has become more stressful’, indications are that respondents are able to deal with the pressure. For example, 75 per cent view the downturn as presenting them with ‘greater challenges’ and one-third (37 per cent) say it has ensured they are ‘more focused at work’. Only 22 per cent claim that fears over the economy have caused them to ‘lose sleep’.
In a sign that managers have confidence in their ability to deal with the current situation, the study shows that a significant proportion are still keen to take risks (33 per cent) or accept extra work (57 per cent). Many are also not prepared to ‘sit tight’ during the downturn, with 60 per cent suggesting they would be ‘tempted to move if the right offer came along’. Perhaps surprisingly, 36 per cent claim to be ‘actively looking for a more senior position’.
The research also identifies the top factors currently putting most pressure on the financial performance of UK organisations. Rising energy costs top the list (32 per cent), followed by concerns over employee motivation (29 per cent) and weak demand (27 per cent). However, despite a clear majority (66 per cent) admitting that the current state of the UK economy is having a negative impact on their organisation, more than half (55 per cent) are either ‘optimistic’ or ‘very optimistic’ about business prospects in the next 12 months.
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A poll of 1,118 senior executives reveals that the UK’s managers and leaders are calling for calm in the face of the continued economic gloom. Respondents to a survey, published today by the Chartered Management Institute, argue that the temptation to make knee-jerk responses must be held in check by experience and considered, decisive, action.
The survey shows that just 1 in 5 individuals feel secure in their current job. However, although half (54 per cent) admit that ‘work has become more stressful’, indications are that respondents are able to deal with the pressure. For example, 75 per cent view the downturn as presenting them with ‘greater challenges’ and one-third (37 per cent) say it has ensured they are ‘more focused at work’. Only 22 per cent claim that fears over the economy have caused them to ‘lose sleep’.
In a sign that managers have confidence in their ability to deal with the current situation, the study shows that a significant proportion are still keen to take risks (33 per cent) or accept extra work (57 per cent). Many are also not prepared to ‘sit tight’ during the downturn, with 60 per cent suggesting they would be ‘tempted to move if the right offer came along’. Perhaps surprisingly, 36 per cent claim to be ‘actively looking for a more senior position’.
The research also identifies the top factors currently putting most pressure on the financial performance of UK organisations. Rising energy costs top the list (32 per cent), followed by concerns over employee motivation (29 per cent) and weak demand (27 per cent). However, despite a clear majority (66 per cent) admitting that the current state of the UK economy is having a negative impact on their organisation, more than half (55 per cent) are either ‘optimistic’ or ‘very optimistic’ about business prospects in the next 12 months.
Read more
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