Education and employment minister James Paice said:
'If anyone still had doubts, this work proves that training pays. The research offers further evidence that developing people has a positive impact on business performance. Prior to the study, there was only anecdotal evidence and some survey data which linked the use of management competencies to improved business performance.
'The findings should encourage organisations of all sizes to adopt competence-based management development methods and provide further support for the approach behind our 'Investors in People' initiative.'
-- improved personal competence and confidence at individual management level
-- increased productivity and efficiency at an organisational level
-- increased market share and profitability at the business level
Business performance was found to be further enhanced where the organisation integrated management development standards with access to management NVQs (National Vocational Qualifications).
'The Business Benefits of Competence Based Management Development' is available from HMSO price £25.95.