A thirst for knowledge and development rather than academic prowess could be key to better job prospects, the Chartered Management Institute (CMI) has found.

The CMI study revealed that while almost two thirds of employers and 74% of individuals believed management qualifications will become more important over the next five years, 95% of those polled were motivated by the 'portability' rather than the prestige of general management qualifications.

However, a number of barriers still prevent people from improving their skills. The study showed only one in five managers hold any type of management qualification, complaining a plethora of types and levels made choosing a course too confusing.

Other obstacles included the amount of time needed to study, diverting energy from other interests.

Despite this, Mary Chapman, CMI chief executive, believes it is encouraging to see a thirst for change. "Significant numbers are looking for training and development as part of their remuneration package," she said.

"Employers should take note of this because by offering professional development, they are more likely to retain the top talent and build for the future."