The new vocational currency: investing for success shows only four in 10 companies offer their staff training in these crucial skills.
The report examines the value of vocational qualifications to both individuals and employers, and also looks at the issue of management skills in the UK. It draws on the results of a survey of more than 550 senior decision makers from UK employers in May 2013.
It found more than two-thirds (68%) of UK employers agree weaknesses in leadership and management skills are preventing employees from reaching their full potential.
"This research clearly shows that employers agree a lack of management training is having a negative impact on business growth and yet only four in ten companies offer their staff training in these crucial skills," said co-author of the report and reader in HR management at Cranfield School of Management, Emma Parry.
"It is clear from these results that vocational qualifications are a strong currency in the UK employment market.
"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."
Other recommendations in the report included improving the status of vocational education and training in the UK, and for the department of business, innovation and skills (BIS) to work with industry bodies to improve UK management.
Gill Craven, director of service development at learndirect, said: "There's no doubt the government focus on vocational qualifications, particularly apprenticeships, is the right one to build a skills base for the UK which is fit to compete in the twenty-first century.
"However, the issue of poor leadership and management is holding back the success of both companies and individuals."
