So the Chartered Management Institute’s National Salary Survey found average bonuses for under-performing company directors was £45,000, and for under-performing senior managers was almost £9,000.

Yes, the money is a shocking figure and could, and should, be better spent.

But what should be of concern to employers today is not the money, but the fact that 30% of managers did not meet expectations.

That’s a shocking figure.  If each manager manages say 10 staff, that’s a huge number of staff not getting the support, direction, performance management, and development that would enable them to perform strongly and productively.

As the CMI said, there’s a skills shortage that means finding and holding on to good staff is difficult.

This is what we should be addressing.   UK’s managers simply need to be better.  Some of the issue will be technical specialist skills, I have no doubt; but most of the problem lies in managers who are not able to manage as well as they could and should.

Managers who don’t see poor performance in themselves and then seek support and development are very unlikely to see it in others.