Business insurance holders are increasingly investing in management training as a way of surviving the recession, an expert asserts.
Ruth Spellman, chief executive of the Chartered Management Institute, claims that there is currently a lack of skill at the higher levels of companies.
She says that only one in five managers have a qualification in this area and this absence is "unhelpful", as this inability is more pronounced when the role is compared to other professions.
Business insurance holders are looking at investing wisely in developing competence, she asserts.
Ms Spellman states: "Government and employers need to think about how skills training can be accommodated because this thirst for knowledge and professionalism can only be good for UK gross domestic product."
Recent research published by the Chartered Institute of Personnel and Development shows that training has remained a priority for business insurance holders.
Firms prioritise leadership and management training as the key practice, despite budget reductions, it states.
