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☆ More than 4 out of 5 of bosses are 'accidental managers' who stumble into leadership with little training, a UK survey found
▼ + stars: | 2023-10-17 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Around 82% of bosses lack any formal leadership or management training and qualifications. A new survey by the Chartered Management Institute surveyed over 4,500 managers and workers in the UK. The Chartered Management Institute released a nationwide study of UK management and leadership in October. Just over half of managers said they don't hold any management or leadership qualifications and a third said they had never received formal management and leadership training. Only 27% of workers rated their manager as highly effective and 37% said they're somewhat effective, the CMI survey showed.

Persons: —, YouGov, They're, they're, René Organizations: Chartered Management Institute, Service, CMI, Gallup

But while Rose's departure means Europe's 25 biggest banks by assets are still 96% male-run, an analysis by Reuters has found that broader executive management teams have become slightly more balanced since last year. Top management teams at Europe's largest lenders are now 30.6% female, data compiled by Reuters shows, up from 25.6% for the same group of banks in early 2022. Reuters GraphicsAcross the broader financial services sector, however, a recent study by EY found that hiring of women at board of directors level in Europe had actually dipped. Companies appointed women to 44% of board openings in the 12 months through June 2023, down from 52% during the previous year. The overall gender split has nevertheless improved to 43% female and 57% male on the boards of European financial firms, EY found, from a 37%/63% split a year ago.

Persons: Alison Rose's, Isabelle Ferrand, Ann Francke, EY, Brenna Hughes, Tom Sims, Iain Withers, Jesus Aguado, Catherine Evans Organizations: NatWest, Reuters, Reuters Graphics, UBS, European, Chartered Management Institute, Companies, Thomson Locations: ZURICH, Europe, Frankfurt, London, Madrid

☆ 'It's a no-brainer': U.S. beats UK investment scene, says British MP, calling for radical overhaul
▼ + stars: | 2023-05-18 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Rachel Reeves, Britain's shadow Finance Minister, has said that the current U.K. business landscape pales in comparison to that of the U.S.Britain's shadow finance minister on Tuesday lambasted the country's business environment under the current Conservative government, saying that companies currently deciding whether to invest in the U.K. or in the U.S. faced "a no-brainer" decision. "Businesses say to me: if we've got a choice between investing in the U.S. or investing in the U.K., I'm afraid, at the moment, it's a no-brainer," Reeves said at a conference hosted by the Chartered Management Institute. "The deeper capital markets, as well as the government support for those growing industries, means investment in the U.S. makes sense in a way that it does not in the U.K.," she said. Reeves said that under Labour leadership, Britain would implement a "modern industrial strategy" encouraging the government and businesses to work in partnership. "At a time of huge change, we've got to have a business and government partnership to seize some of these big opportunities that are out there for the taking," she said.

Several major finance companies also voluntarily reported ethnicity pay data for the period. The majority of major finance firms nonetheless made progress in narrowly closing their gender pay gaps, according to their disclosures. ETHNICITY PAY GAPSHalf of the 20 finance firms reviewed reported varying detail on ethnicity pay gaps, with some including insurer Phoenix doing so for the first time. Where pay gaps were further broken down by ethnicity, they showed the largest pay disparities were between Black and white employees. All the employers said in their pay gap reports they were taking steps to improve diversity, particularly at senior levels.

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