Managers across the south west have accepted their own redundancy as ‘inevitable’, according to evidence compiled by the Chartered Management Institute (CMI).
Analysis of calls to the CMI’s redundancy hotline, combined with a series of polls, shows that executives have moved from ‘concern about job security’ to ‘preparing for a job hunt’.
Against a backdrop of over 50,000 job losses since January 5 and a total of 1.92 million unemployed, key findings show that:
– amongst the most common ‘redundancy checklists’ sought by individuals in December and January, was ‘coping with redundancy: the next day’. The lowest recorded request was for help ‘managing the survivors’
– Around 1 in 3 respondents in the south west (30%) admit they are currently updating their CV in readiness for a job search
– 21% in the South West are making extra efforts to develop business networks, hoping to uncover job opportunities
– 57% in the region have worked in an organisation where others have been made redundant
However, despite clear evidence of a “managers’ malaise”, the survey also uncovers some positive news. 74% in the south west, for example, argue that there is less stigma attached to redundancy than during the 1990s and 54% believe the current economic climate is the ‘perfect opportunity to reassess my career’.
Evidence also suggests that managers and leaders in the south west are making plans to survive the recession and build their career over the long-term. 29% indicated that they intend to develop transferable skills during 2009, with 23% also saying they plan to undertake a qualification. Surprisingly, 5 % also intend to start their own business.
Ruth Spellman, Chief Executive of the Chartered Management Institute, said: “Quite clearly, any suggestion that there is already ‘light at the end of the tunnel’ is misplaced. However, if we can help people to dig deep and develop their skills this may enable them to move forwards as well as to move on. There is a worrying lack of concern about helping those who survive redundancy and unless these individuals are given a focus or sense of direction, the spiral of low productivity and morale will continue on a downward trend.”