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Posted by on in Employment
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Managers see glimmers of hope amidst economic gloom

In the wake of the news that the UK has officially entered a double dip recession, a report released by the Chartered Management Institute reveals the concerns held by the UK’s managers and leaders about the current economic situation.

Questioning over 700 respondents about a variety of economic performance indicators, including GDP, business insolvencies and levels of employment, key highlights from the report include:

  • Greater belief in job and business security: The number of managers feeling insecure in their jobs has fallen from 48% six months ago to 43% now, and the number who believe that business insolvencies will increase has fallen from 76% to 71%.
  • Continuation of a tough climate: 83% of managers report that the state of the economy is having a negative impact on their organisation (this number has held steadily above 80% since March 2009). Some 57% of managers report pay freezes in the last six months, with 50% attempting to reduce business overheads and 49% seeing a recruitment freeze in their organisation. Nearly two thirds of managers (64%) say that staff morale has got worse in the last six months.
  • Public sector faring the worst: Managers in the public sector feel most affected by the current economic conditions, are the least optimistic about the future, are the most insecure about their jobs, and are seeing the lowest morale.



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