Small business owners have been warned that almost half of workers have quit their jobs due to bad management, according to the Chartered Management Institute (CMI).

The CMI's survey of 3,000 workers also revealed that 49% would be prepared to take a pay cut if it meant working with a better boss and 50% assert that they could do a better job than their current manager.

"The figures reveal the depth of the crisis of confidence in UK management and leadership, and the enormous toll bad management is taking on the UK economy and people's wellbeing," said Ruth Spellman, chief executive of the CMI.