The majority of employers in the UK believe a lack of leadership and management skills are restricting business growth.
According to a new report co-produced by Cranfield School of Management, nearly two-thirds (64 per cent) of organisations questioned cited the problem, while just four in ten firms currently offer their workers training in these skills.
The publication - entitled The New Vocational Currency: Investing For Success - draws on new figures from YouGov that revealed 68 per cent of companies in Britain agree weaknesses in leadership and management are preventing employees from achieving their full potential.
It examines the importance vocational qualifications could have in the workplace for both individuals and bosses and analyses the state of management skills across the nation.
Dr Emma Parry, reader in human resource management at Cranfield School of Management and co-author of the report, said it is clear employers think a lack of management training is having a major negative impact on growth.
"British businesses have an opportunity to broaden their talent pool by recruiting more people who hold vocational qualifications and may have been overlooked in the past due to not having a degree," she added.
Recommendations made in the report included improving the status of vocational training in the UK through a government-led national campaign and the introduction of a new duty on schools to provide students with relevant information and advice.
It also urged the Department of Business, Innovation and Skills to team up with industry bodies and improve UK management by ensuring new government ministers and their shadows receive management training.
Ms Parry continued: "This research shows that employers regard vocational qualifications positively, so now has never been a matter time to study a vocational qualification."
This comes after The Campaign for Learning and the Chartered Management Institute recently called for improved business training and development for UK managers and leaders, claiming that while budgets may be tight, a renewed focus on training company heads is a necessity.