Figures have shown that only half of UK companies (51%) offer career development training for employees and 78% claim staff retention has become more difficult.
Jo Causon, director of marketing and corporate affairs at the Chartered Management Institute (CMI), which completed the research, said: “Feedback from managers indicates that pay is not their major motivator.
“They want employers to show commitment in the shape of on-going professional development and, if organisations are serious about retaining the best talent, they urgently need to meet these needs.
“Failure to do so will, in the short term, ensure the top talent leaves. In the long term it will also mean that a solution to the skills crisis will be no nearer reality than it is today.”
CMI figures also showed that almost three-quarters (74%) of employees believe management qualifications are becoming more important.