Additionally, a third of the 2,000 people surveyed said they had left their job due to a negative work culture.
The Resolution Foundation recently warned that businesses in the UK are not as well managed as they are in the US, with dire consequences for investment, productivity and growth.
“Rising interest rates are having an impact across borders, with bad tax practices being found in many countries. But bad management is an area where the UK stands out,” it said in a major report. .
“Only a small proportion of British companies are managed as well as the top 25% of American companies.”
He added: “This is important for reasons beyond investment. But well-managed companies make better investment decisions and are clearly better at predicting the overall economy and their own growth.”
The UK productivity collapse means that US workers were 28% more productive per hour in 2019 than in the UK.
Economist John van Reenen added that the French and Germans were also about 13% more productive than the British.
An index of management practices compiled by prominent economists including Van Reenen of Stanford University and the London School of Economics suggests that more than 50% of the productivity gap between the UK and the US can be explained by poor management. are doing.
A Phoenix spokesperson said: “We always strive to operate efficiently and effectively and to have the highest caliber of leaders at every level who we know are important to our colleagues.
“Moving colleagues between different areas of the business is extremely helpful to our organization in terms of building expertise and inspiring others.
“This provides us with the opportunity to think freshly, maximize productivity and ensure that resources, including middle management, are always aligned in the best possible way. important for.”