UK employers are prioritising cost management over growth as rising business costs and global uncertainty continue to weigh on confidence. This is according to the latest Labour Market Outlook from the CIPD. The survey of more than 2,000 UK employers found that cost management is now the top priority for organisations of all sizes and across all sectors, ahead of improving productivity and growing market share. (more…)

A new report from Hogan Assessments suggests that the qualities helping managers rise through organisations may be very different from those employees believe make effective leaders. The study, The Leadership Divide: Global Insights on Who Leads vs. Who Should [registration], found no overlap between the characteristics most commonly associated with senior executives and the qualities employees say they value in managers. Hogan analysed personality assessment data from more than 21,000 executives and surveyed 9,794 employees across 25 countries. The findings indicate that executives are often distinguished by confidence, competitiveness, visibility and self-promotion, while employees place greater importance on communication, integrity, accountability and decision-making. (more…)

Small businesses across the UK are expected to receive more than £7.4 billion a year in direct government spending by 2028 under new procurement targets published by ministers. For the first time, individual government departments have been given specific targets for the proportion of spending that should go directly to small and medium sized enterprises. Departments will also be required to publish annual progress updates, with those falling short expected to outline how they will improve performance. (more…)

Small business innovation in the UK has fallen for the fourth consecutive year despite record levels of entrepreneurial ambition, according to the latest State of Small Business Britain report from the Enterprise Research Centre. The annual study draws together findings from a range of business surveys and shows that 36 percent of working age adults are now starting, running or planning to launch a business. This is the highest level recorded since the Global Entrepreneurship Monitor began tracking activity in 1999. Early stage entrepreneurial activity has doubled since the early 2000s and has stabilised at around 12 percent. (more…)

New research from King’s Business School has suggested that too much success can be a problem, at least when it comes to the implementation of new ideas. The study, carried out with colleagues from University of Liverpool Management School, University of Hohenheim and Rotterdam School of Management, Erasmus University and published in the journal Research Policy, suggests that employees who experience exceptionally high levels of success are less likely to see their next ideas implemented. (more…)

A new study suggests that overconfidence can persist even in situations where people receive frequent and accurate feedback about their performance. The findings, published in The Journal of Occupational and Organizational Psychology, raise questions about how effectively feedback mechanisms improve self-awareness in professional settings. Researchers analysed data from 3,388 competitive chess players across 22 countries. Chess provides a clear test of confidence and self-assessment because performance is tracked continuously through the Elo rating system, which adjusts after every match. Players have access to detailed, objective feedback, allowing them to compare their results with others and track progress over time. (more…)