Management turnover doubles in 2011
Thu, 19 Apr 2012
Almost 300,000 managers walked away from their jobs in the year to September 2011, with overall labour turnover for such roles has near doubled from 10.5% in the previous year to 20.3% in 2011.
Turnover rates refer to those resigning (9.4% of all managers), transferring internally (6%), being made redundant (2.7%) and retiring (0.4%).
This is according to the 2012 ‘National Management Salary Survey’, published by the Chartered Management Institute (CMI) and online HR information source XpertHR.
It also shows that overall, managers received an average pay rise of 3.1%, a significant increase on the 2.2% rise the year before.
Christopher Kinsella, acting chief executive of CMI, says: “There is a risk that a substantial proportion of these managers left the profession altogether, a grave situation when UKCES/government data estimates that the UK needs 544,000 new managers by 2020.”
Mark Crail, head of salary surveys and HR benchmarking at XpertHR, adds: “It is worth pointing out that with an average basic pay rise of 3.1%, managers and professionals have still seen a fall in the real value of their incomes thanks to relatively high rates of inflation. With inflation now falling, this may change over the coming year, and for many that would mean the first real-terms pay increase in nearly five years.”