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The Actuary The magazine of the Institute & Faculty of Actuaries

Professional management

The Chartered Management Institute has launched a unique professional designation to meet the nation’s need for greater productivity and better management.

The launch represents the coming together of private and public sector leaders with the aim of raising management performance. Called ‘Chartered Manager’, this new hallmark also recognises management as a profession in its own right.

Research has demonstrated that there are approximately 4.5m managers in the country, yet 36% of organisations say that their managers are not proficient. Ivan Lewis MP, minister for adult skills, a keynote speaker at the launch, says: ‘There is compelling evidence of management skills shortages hampering business. Chartered Manager is a vital step towards maintaining up-to-the-minute skills in the workplace and tackling this longstanding issue. That is why Chartered Manager is supported in the government’s skills strategy white paper.’

The Chartered Manager programme enables employers to benchmark individual performance in the workplace. It tests leadership skill-sets required in all walks of professional life and the launch follows completion of a pilot scheme in which 70 managers from organisations such as Shell, Rolls-Royce, and the National Probation Service, participated.

The introduction of Chartered Manager represents a significant advance from traditional chartered awards, as managers will only be able to retain Chartered Manager status by demonstrating a commitment to continuing professional development through a reassessment process.