Incompetent managers are holding back the UK's recovery, according to the Chartered Management Institute (CMI).

The CMI's research showed that 47% of employees say they have left a job due to bad management, while 49% say they would take a pay cut to work with a better manager.

"Britain is suffering because our managers and leaders are simply not up to scratch. We need to put pressure on political parties to understand the impact bad management is having on the UK's profitability and the huge part they have to play in addressing the issue," said Ruth Spellman, chief executive of CMI.