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Moving on up: A leader’s guide to career development

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Leading Off

Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
An image linking to the web page “Cracking the code on digital talent” on McKinsey.com.

You’ll need a large base of digital talent to power your organization in the future—and attracting the best may take more than hefty paychecks. Our latest research, led by McKinsey senior partner Paul Roche and colleagues, shows that career development and advancement opportunities rank equally with compensation as the top factors determining whether people accept, stay in, or leave a job. It’s critical for leaders to understand that “digital talent has a unique view of what ‘good’ looks like,” note the McKinsey experts. “For today’s digital talent, career development is not simply about securing tickets to buzzworthy conferences a few times a year.” Rather, leaders may need to enable digital talent to learn and grow alongside world-class experts, establish nontraditional career paths, and offer continuous and tailored training programs, besides providing the flexibility and commitment to diversity and employee well-being that many workers have now come to expect.

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An image linking to the web page “Author Talks: Deanna Mulligan on smart skill building” on McKinsey.com.

One of the best ways to advance one’s career is to anticipate uncertainty, says Deanna Mulligan, former chair and CEO of Guardian Life Insurance Company of America, in a discussion with McKinsey. Organizations can “give you career-planning workshops and self-assessment tests and all kinds of things you can use to think about your future,” she says. “But just know that your future may be very different from the job you’re in today, and let’s all work together and learn what might be coming and how we can prepare for it.” Young people especially need to develop a mindset of flexibility and resilience and understand that their education may not guarantee them employment in a specific area for the rest of their lives, Mulligan says. “It doesn’t work that way anymore. We’re all going to be learning, exploring, adding new skills to our portfolios. Changing jobs, changing careers.”
An image linking to the web page “Unlocking the industrial potential of robotics and automation” on McKinsey.com.

For decades, people have feared the rise of the machines—perhaps with good reason. For example, industrial robots already perform many manufacturing jobs, and social robots—AI platforms that are equipped and trained to interact with humans—demonstrate leadership behaviors. The results of the 2022 McKinsey Global Industrial Robotics Survey reveal that automated systems will account for 25 percent of industrial companies’ capital spending over the next five years. But it will likely still take a human to support your career development. The machines themselves think so: in response to a prompt, a chatbot told us that “while robots and AI can assist in various aspects of career advancement, human skills remain invaluable and essential for navigating the complexities of the corporate world and achieving long-term success.”

Lead by supporting career development.

— Edited by Rama Ramaswami, senior editor, New York

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by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 02:25 - 16 Oct 2023