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Manage attention, not time: A leader’s guide
Harmony Internal - McKinsey
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Edited by Rama Ramaswami
Senior Editor, New YorkLeaders are expected to be productive. And by the yardstick of conventional time management, they are: they attend meetings, check off lists, multitask on projects, and manage deadlines. Why, then, isn’t anything getting done? Pointless interactions, information overload, and distractions leave executives too drained for much else, according to this McKinsey article. “Every minute spent on a low-value interaction eats into time that could be used for important, creative, and powerful activities,” say the article’s authors. The solution may lie in managing your attention, not your time. Here are some ways to do so—and perhaps increase your efficiency and task enjoyment as a result.
AN IDEA
Since there will never be enough time to “do it all,” deciding what not to do may well be the most strategic time management decision. A simple rule of thumb for leaders is to identify a maximum of five things to focus on for the year and spend 95 percent of your time doing those things. McKinsey’s Frankki Bevins and Aaron De Smet suggest that organizations can help by establishing time limits for projects, reducing the number of decision makers involved, and ensuring that leaders dedicate most of their time to the organization’s priorities. Being productive is about timing, not time, says organizational psychologist Adam Grant in the New York Times: “So if you’re trying to power through a boring task, do it after a moderately interesting one, and save your most exciting task as a reward for afterward.”
A BIG NUMBER
That’s the percentage of time lost every year by knowledge workers because of distractions, for an estimated loss of 581 hours per person. Both remote and in-office workers find it hard to focus on any given piece of work for very long—little more than half of respondents to a survey of 600 knowledge workers devote more than an hour to a task in an average day. Email is the top distraction for all workers; interruptions from colleagues and background noise such as ringing phones are the worst offenders in the office, whereas at home, the temptation to relax, finish up household chores, or tend to family obligations top the list. Even a three-second interruption can double the error rate for tasks—primarily because of workers’ shift in attention from task to task.
A QUOTE
That’s the wizard Gandalf in J. R. R. Tolkien’s The Fellowship of the Ring advising his hobbit friend Frodo before his epic adventure begins. A quest to manage time in the workplace may not be as arduous, but it can seem that way. In this hypothetical day in the life of a middle manager, the central character spends six hours on email and social media; three hours switching between TV, smartphone, and computer; and, deeply tired, falls asleep after having checked his phone a total of 150 times that day. Learning how to distribute cognitive work across three “gears”—low, medium, and high—could help this manager a great deal. He spends most of his day in medium gear, focusing on quick tasks and switching his attention constantly. If he spent more time in high gear, he could focus on demanding tasks for longer periods, bringing more mental energy to the task at hand.
A SPOTLIGHT INTERVIEW
“One thing we often notice these days is people feeling bad about themselves for the inability to focus,” says former policy maker Justin Zorn in this conversation with McKinsey senior partner Kunal Modi. Zorn—coauthor with consultant Leigh Marz of the book Golden: The Power of Silence in a World of Noise—believes that “moments of pristine attention,” when we’re not distracted by the noise of the world, can boost physical health and mental concentration. Silence doesn’t have to be auditory: people can find inner quiet even while dancing to loud music or carving wood with a chainsaw, for example. “We’re looking at silence as a starting place to discern the signal from the noise,” says Marz. “It is a place for us to take stock of what is true and needing our attention—a signal—and what is noise—a distraction—distracting us from what we want to put our attention to.”
CHILL
You don’t need to create elaborate systems to stay focused—sometimes, a simple productivity hack or two can energize you for the day ahead. One executive makes a ritual of checking email just twice a day, giving it full attention for 45 minutes at a time. Another dedicates the first hour of every day to the most important challenge of the day. Still not convinced? Consider these tips from celebrities: make your bed neatly, drink room temperature water, make any crucial decisions at the same time each day, and take freezing-cold showers to be “fresh as a daisy, all the time.”
Lead attentively.
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by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 02:20 - 25 Jul 2022 -
Our potential to be productive starts from early life. How do we make the most of it?
On Point
Edited by Belinda Yu
Editor, AtlantaThis email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy.
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:24 - 25 Jul 2022 -
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by "Zoho | Mani" <onlineevents-apac@zohocorp.com> - 11:48 - 24 Jul 2022 -
The week in charts
the Daily read
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ALL THE WEEK’S DATA THAT'S FIT TO VISUALIZE 
Our Charting the path to the next normal series offers a daily chart that helps explain a changing world—as we strive for sustainable and inclusive growth. In case you missed them, this week’s graphics explored inflation’s effects on food, commodities, housing prices, and real wages. FEATURED CHART Paying more to fill plates 
See more
This week’s other select charts Double Trouble Commodities costs see widespread gains Prices through the roof Paycheck pinch
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by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:16 - 23 Jul 2022 -
Feminine leadership traits, the future of the US healthcare industry, and more: The Daily Read weekender
Harmony Internal - McKinsey
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CURATED PICKS FOR YOUR DOWNTIME, FROM OUR EDITORS
Joyce Yoo
Digital Editor, New YorkAs you get ready for the weekend, catch up on the essential reads from the week and explore topics including leading like a girl, a low-emissions materials transition, the future of healthcare, and more:
Quote of the day
—McKinsey senior partner Bill Schaninger on how we accumulate human capital in a recent episode of The McKinsey Podcast
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:33 - 22 Jul 2022 -
MD, last chance to let us know your opinion. don’t miss out!
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by "Remote" <hello@remote-comms.com> - 12:32 - 22 Jul 2022 -
Asia’s business leaders on navigating choppy economic waters
The Shortlist
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Our best ideas, quick and curated | July 22, 2022 View in browser
This week, snippets of wisdom from a wide range of Asia’s business leaders interviewed by McKinsey since the pandemic began. Plus, the future of health equity, and six secrets of profitable airlines (yes, there are a few). 
Stepping back. Business leaders in Asia have been focusing on some big issues, from the threat of climate change to sluggish infrastructure development to the rise of a new, digitally savvy generation. While the region’s dynamism is a given, leaders have had to navigate these challenges against the backdrop of a pandemic that has left no aspect of business or society untouched. In the video series Leading Asia, McKinsey asks some of Asia’s most influential business voices what they have learned from navigating the past few years of choppy waters and what they see as the greatest opportunities ahead for the region. New ground. Top of mind now for the business leaders McKinsey has spoken with are how to tackle the weaknesses in performance among Asian companies that preceded the pandemic and how to position themselves for success in an era shaped by accelerating technological change. There is no question that in such a competitive region, new opportunities are arising in services, digitization, and technology that demand new capabilities. Against this backdrop, CEOs are shifting priorities and revisiting their own leadership journeys. Reconnecting with purpose. Sumant Sinha, managing director of ReNew Power, India’s largest renewable-energy company, discusses his company’s position amid Asia’s energy transition: “We’re working to further our purpose and expand our role in civil society by starting more conversations about the need for a clean-energy transition and creating more pressure to make that transition.” India’s success will hinge on equality, Sinha notes: “I feel a personal responsibility to advance gender equality, but this is not just about doing the right thing. India will not realize its growth potential without achieving gender equality, including in the workplace.” ESG as a core value. Karen Wood, chairwoman of South32, has devoted much of her time to environmental, social, and governance (ESG) issues, including what steps the Australian diversified resources company is taking to prepare for a low-carbon future and the opportunities for multistakeholder collaboration to tackle some of the world’s pressing challenges. “A clear purpose statement is a unifying statement and a benchmark to test decisions,” Wood tells McKinsey. “Ours is built off of three planks. First, to make a difference by developing natural resources to improve people’s lives. Second, to [consider the impact] on future generations. Third, to earn the trust of our owners and our partners so they know that we realize the value of their resources.” Digital past, present, and future. Jessica Tan, co-CEO of Ping An, has been an architect of the Chinese conglomerate’s digital-ecosystem-based business model. In an interview, Tan discusses how the digital transformation in Asia is affecting professional services, as well as the synergies that big and small companies can share in digital ecosystems. When asked to picture Asian business in 2030, she says that we can expect digital to continue to blur industry lines, supercharge scalability, and loosen geographical restraints for professional services.
OFF THE CHARTS Sustainable fuels are key to meeting 2030 decarbonization targets Even in a world with fast electric-vehicle uptake, reaching regulatory greenhouse-gas-reduction targets for transportation could require a significant contribution from sustainable fuels. While the growth of battery electric vehicles in the passenger vehicle segment is strong, electrification of commercial-heavy transportation, such as trucks and buses, is expected only in the longer term. 
Check out our chart of the day here.
PODCAST The future of health equity “Health equity means all of us having equal access to healthcare, regardless of one’s circumstances, zip code, economic situation, or level of support.” So says Daniel E. Greenleaf, president and CEO of healthcare services company ModivCare. US-based ModivCare provides a platform of integrated supportive-care solutions, including nonemergency medical transportation, personal-care services, remote monitoring, and meals, for public and private payers and their patients. In this episode of the McKinsey on Healthcare podcast, Greenleaf talks about his family’s emphasis on service and how that shaped his mindset.
MORE ON MCKINSEY.COM The six secrets of profitable airlines | The airline industry has failed to earn its cost of capital in every year of its existence. Despite this overall weak performance, however, a small group of airlines managed to create shareholder value. We look at six things they do right. Your questions about automation, answered | A new survey sheds light on the state of automation, the benefits that it brings, and best practices for scaling automation technologies successfully. A single approach to culture transformation may not fit all | It can be hard for organizations with many independent business units to achieve cohesion among them and transform their culture. Remember: it’s better to bend than to break.
PARTING STAT 
— Edited by Barbara Tierney
BACKTALK Have feedback or other ideas? We’d love to hear from you. Tell us what you think
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by "McKinsey Shortlist" <publishing@email.mckinsey.com> - 02:38 - 22 Jul 2022 -
Catching up on your favorite show this weekend? See the future of video entertainment.
On Point
Edited by Belinda Yu
Editor, AtlantaThe future of video entertainment
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:47 - 22 Jul 2022 -
How can individuals use their influence for positive change?
Harmony Internal - McKinsey
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Edited by Joyce Yoo
Digital Editor, New York
Quote of the day
—Nandan Nilekani, cofounder and nonexecutive chairman of Infosys in a new interview in the Leading Asia series
Chart of the day
ALSO NEW
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This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:42 - 21 Jul 2022 -
You're' invited 🎙Webinar: The Practical Approach to Growing Remote Teams
You're' invited 🎙Webinar: The Practical Approach to Growing Remote Teams
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🎙Webinar: The Practical Approach to Growing Remote TeamsWednesday, July 27, 2022
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by "Remote" <hello@remote-comms.com> - 10:02 - 21 Jul 2022 -
Invisible no more: It’s time to talk about Asian American mental health
On Point
Edited by Katherine Tam
Project Manager, New YorkComing home for Asian Americans
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:57 - 21 Jul 2022 -
How can CFOs rebrand themselves as innovation allies?
Harmony Internal - McKinsey
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Edited by Joyce Yoo
Digital Editor, New YorkCFOs are traditionally seen as authority figures who manage the budget and annual planning—and not so much collaborators when it comes to innovation. But CFOs who are allies to innovation projects can improve both the company culture and the bottom line, as well as promote growth and resilience. So how can they flip the script and rebrand themselves? A new article outlines five actions CFOs can take to develop an innovation mindset and create value. Be sure to check it out and be set up for success.
Quote of the day
—McKinsey senior partner, Kristi Weaver, on what it means to be a Black brand in a recent episode of the McKinsey on Consumer and Retail podcast
Chart of the day
ALSO NEW
You’re invited: Join us for a webinar on Building resilience amid economic uncertainty on Thursday, July 28
Join senior partners Ida Kristensen and Maria Martinez to discuss the concrete changes leaders can make now to not just survive the current inflationary environment, but thrive.
Author Talks: Older, wiser, and not going anywhere
As people live longer and work longer, the market for where they spend their money continues to grow in size and variety.
It’s time to become a digital investing organization
In the investment sector, AI and other digital technologies are ushering in the next horizon of performance differentiation. Here’s how to level up.
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This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:25 - 20 Jul 2022 -
Do you know your work persona? Why that should matter more than ever to employers
McKinsey&Company
Talent search In the news • Second thoughts. In the US, roughly 20 million workers quit their jobs sometime between January and May 2022. Now, some of them are having second thoughts. About one in four workers are questioning their decision to quit, according to a survey of more than 15,000 people. Of those who started a new job after leaving their old one, 42% report that the new position isn’t what they were expecting. However, workers in some fields (such as healthcare) expressed much less regret. [Bloomberg] • Counteroffer with caution. To keep star employees from leaving, it’s tempting for employers to dangle the prospect of better pay and promotions. Offering a generous raise makes sense when considering how much it costs to replace workers. But unless properly handled, making a counteroffer could backfire. A big pay bump might leave workers fuming about having been previously taken for granted. It may also make other workers think that they’ve paid a “loyalty tax” for being committed to the company. [FT] Workforce discontent has worsened in certain markets. In India, more than 60% of respondents expressed a desire to leave their current posts, well above their counterparts in Australia, Canada, the UK, and the US. On McKinsey.com • New trends. Competition for talent is still fierce. But new trends are making it even harder to woo workers, find McKinsey senior partners Aaron De Smet, Bill Schaninger, and colleagues. Many workers are not just leaving their old jobs behind; they’re also leaving their industries. Of the employees who quit in the past two years, just 35% took a job in the same field, while 65% either found a new line of work or left the workforce, reveals a new McKinsey survey. Employers are competing within their industry and across industries, too. • Five types of workers. Even though the employment picture is changing, companies keep using the same methods to attract and retain people—including pay and titles. These are important, particularly to traditional workers, but there aren’t enough “traditionalists” to fill all of the open jobs. Companies also need to win back nontraditional workers. For instance, “idealists” tend to care much more about flexibility, career development, and meaningful work than they do about salary. See five types of workers and strategies to reach them. — Edited by Belinda Yu Learn what workers want Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 11:51 - 19 Jul 2022 -
Save the date for Adobe MAX!
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by "Adobe Creative Cloud for Business" <demand@info.adobe.com> - 11:06 - 19 Jul 2022 -
Want to keep and attract employees? Consider all their experiences
the Daily read
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AN ARTICLE A DAY, PICKED BY OUR EDITORS
Looking to fast-track your career? On-the-job experience matters more than you think—and certain kinds of on-the-job experience matter far more than others. Credentials count, but new research suggests that almost half your lifetime earnings could be attributable to skills acquired at work. And making what experts Anu Madgavkar and Bill Schaninger describe as “bold moves”—taking on new roles that require you to stretch your skills and responsibilities—opens up possibilities that can reshape your future. Tune into a new episode of The McKinsey Podcast to understand what employees and leaders can do to identify and encourage these bold moves and create, in Madgavkar’s words, a “story of possibility… You can defy the odds.” — Katherine Tam, digital editor, New York 
Learning and earning: The bold moves that change careers McKinsey’s report on human capital highlights the importance of internal mobility in organizations. Here’s how to encourage your employees to try more new things. Value employees’ experience 
Quote of the Day “When I think about everyone else who has to deal with coming out, whether that be in a safe or unsafe environment, I recommend to just think about whether or not it's the right time for you, if the person you're coming out to will make you a better person, and be in the right company. But don't be afraid to do it if it's a safe environment.” —David Baboolall (they/them/theirs), associate partner, on coming out to a manager in the latest episode of My Rookie Moment
Chart of the Day 
See today’s chart
Also New 
Black beauty brands and consumers: Where do we go from here? Inequity is rife in the beauty industry, says a new McKinsey report. Ulta Beauty CEO Dave Kimbell and two of the report’s authors discuss how to better support Black brands and serve Black consumers. Pay attention 
Scaling textile recycling in Europe—turning waste into value Fiber-to-fiber recycling at scale could be achieved by 2030, creating a new and sustainable circular industry in Europe. Reuse and recycle
McKinsey for Kids: Space Junk—it’s out of this world Rockets, satellites, moonwalks and more: let’s explore space in this seventh edition of McKinsey for Kids. Find your flight suit and buckle up for a closer look at the future of space and how people are trying to deal with the stratospheric equivalent of your family’s junk drawer. Up up and away
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Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:19 - 19 Jul 2022 -
SmartBus - Managing School Buses and Student Transport
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by "Uffizio Technologies Pvt Ltd" <official@uffizio.in> - 09:14 - 19 Jul 2022 -
Where are you most seeing inflation? McKinsey experts parse the latest data.
McKinsey&Company
Up, up, and away In the news • The (rising) price of beauty. Looking a little shaggy? Spiffing up with a haircut in the US will cost you 6.2% more than last year. That’s the biggest annual increase since 1982, but some hairdressers have hiked the tab by far more. Soaring salon bills reflect higher costs of rent and labor; they are an expense American consumers cannot skirt by buying from overseas. This is why some economists see haircut prices as a sign of entrenched domestic inflation. [WSJ] • A common concern. The world doesn’t agree on much, but it’s come together over one big source of anxiety: inflation. For the third consecutive month, inflation is the most-cited worry in a global survey, identified as a top concern by 37% of respondents in 27 countries. In general, economic issues weigh heavily on minds around the world. Next to inflation, the second biggest worry is poverty and social inequality, followed by unemployment, finds the survey of about 19,000 adults. [WEF] Food prices today are considerably higher than in past surges in 2008 and 2011, which were precipitated by the turmoil of the global financial crisis. On McKinsey.com • Silent tax makes noise. In the past six months, surging inflation has more than doubled projections in many countries, with Europe particularly affected. Inflation in Poland is at 11% and UK inflation is at 9%, both well above projections. However, Asia is seeing a more moderate change, with inflation remaining muted in China and Japan. Real wages are creeping higher in some of the world’s largest economies, but the rising tide of inflation is eroding purchasing power. • Pinning down rising costs. In many economies, prices for food and commodities have risen sharply. A spike in fertilizer prices, along with other fallout from the war in Ukraine, has pushed prices for basic foods much higher. Meanwhile, the outlook for growth for most G-20 economies has moved in the opposite direction—with one notable exception. From rising lending rates to the soaring cost of housing, see how inflation is affecting every part of the global economy in seven charts. — Edited by Katy McLaughlin Understand inflation Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:54 - 19 Jul 2022 -
Space out with the latest McKinsey for Kids
the Daily read
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AN ARTICLE A DAY, PICKED BY OUR EDITORS
You may have seen the stunning new images captured by the James Webb Space Telescope last week. Space is an endlessly fascinating topic, and there is a lot of excitement and activity surrounding it, especially in recent years. While satellites have helped make important advancements in space exploration and in our everyday lives, did you know that they are also giving way to more space junk—objects, paint flecks, or pieces of inactive satellites and rockets that remain in space? The latest edition of McKinsey for Kids delves deeper into the future of space, explains ways to help safely deal with its junk, and offers fun factoids, interactive components, and cool graphics. Whether you’re a space aficionado or have a passing curiosity about space, there is something for everyone. — Joyce Yoo, digital editor, New York
McKinsey for Kids: Space Junk—it’s out of this world Rockets, satellites, moonwalks and more: let’s explore space in this seventh edition of McKinsey for Kids. Find your flight suit and buckle up for a closer look at the future of space and how people are trying to deal with the stratospheric equivalent of your family’s junk drawer. Over the moon
Quote of the Day “We’re not in elderhood, we’re in furtherhood. We keep going further, and we have more to look forward to. This can be the happiest time of life and one of the most productive times of life, rather than an ending stage that goes on for a long period.” —Susan Wilner Golden, a lecturer at the Stanford Graduate School of Business on marketing to members of the 60-plus crowd in a recent Author Talks interview
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Self-learning: The dawn of a new biomedical R&D paradigm Science and technology are driving breakthroughs at each stage of the biomedical R&D value chain. Enhancing feedback loops among them could unleash a self-learning model that would benefit patients. Gain insight
The Great Attrition is making hiring harder. Are you searching the right talent pools? People keep quitting at record levels, yet companies are still trying to attract and retain them the same old ways. New research identifies five types of workers that employers can reach to fill jobs. Reassess now
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:24 - 18 Jul 2022 -
What really motivates people to grow and change? A leader’s guide
Harmony Internal - McKinsey
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Edited by Rama Ramaswami
Senior Editor, New YorkThe theory of self-determination holds that people are motivated to grow and change when three innate psychological needs—autonomy, competence, and relatedness or connection—are fulfilled. Applying this concept in the workplace may be the next frontier for companies seeking to retain talent. Organizations have run employee physical-fitness programs for decades and, in recent years, have begun to pay serious attention to mental-health issues. The stresses of COVID-19—such as workers’ feelings of isolation and burnout—have given rise to a slew of employer-sponsored mental-health programs, as well as to benefits such as flexible work arrangements. But as people continue to leave the workplace in record numbers, leaders may need to improve workers’ job satisfaction by focusing on their psychological well-being. Here are some ideas and strategies to think about.
AN IDEA
That really isn’t as difficult as it sounds. Most people, regardless of their income level or occupation, rate having an “interesting” job at least as important as having a high income. But organizations tend to cater more to the psychological needs of higher earners, who are likely to be managers and professionals. Meeting the psychological needs of employees in lower-paying, routine, or repetitive jobs such as clerical work or machine operation could enhance their job satisfaction, productivity, and loyalty to the organization. This may not work in all cases: for example, it could be challenging to redesign a machine operator’s job to make production line tasks less repetitive. But simple steps such as recognizing mastery of a skill or granting frontline workers discretion to make appropriate decisions can go a long way toward making jobs more psychologically satisfying for lower earners.
A BIG NUMBER
That’s the percentage of American workers who say they are in ‘good’ jobs, as defined by their satisfaction with the job characteristics they value the most. These include not only good wages and benefits but also factors unrelated to pay, such as enjoyment of their day-to-day work, having a sense of purpose at work, and having the power to change things that don’t satisfy them. An attractive pay package does get people in the door. Once they are in, though, leaders will need to provide opportunities for advancement and skill development, as well as restructure jobs wherever possible to avoid employee boredom and job dissatisfaction.
A QUOTE
That’s from psychology professor Julia Boehm, whose research examines the correlation between positive feelings and improved cardiovascular health. Even if people don’t exhibit symptoms of depression, stress, or anxiety in the workplace, they may not be functioning optimally: it’s essential for leaders to proactively enable employees to thrive. The American Psychological Association (APA) suggests several tactics that go beyond minimum mental-health offerings. For example, instill a sense of belonging for employees of all backgrounds, institute unconscious bias training, and make sure that workers take paid time off to recover from stress. According to the APA, “Encouraging employees to carve out time for their well-being not only protects their mental health but can also improve job performance.”
A SPOTLIGHT INTERVIEW
Whether you approach it through mindfulness, meditation, or building a sense of community, psychological well-being has become critical to succeeding in the workplace. In this interview with McKinsey, former Medtronic CEO and Harvard Business School professor Bill George shares his views on how to create, protect, and expand well-being within our teams and in our lives. “As a leader, you want to give encouragement to the people you work with to bring their ideas forth, to be real people, to be authentic and to be mindful and to have their own practices and give them the opportunity to do that,” he says. Take the time to engage with people authentically and with humanity, George advises. “Make everyone at your organization feel like, ‘This is my home. This is where I want to be, and you respect me for who I am.’”
PICK A NUMBER
Does a big paycheck guarantee happiness? Scientists have long debated this question—and the jury’s still out. A well-known study conducted in 2010 found that happiness leveled off once household income topped $75,000 a year. More recent research has upped that number to $95,000, although that’s for overall “life satisfaction”; the price of day-to-day well-being comes in at $60,000 to $75,000. And it is possible to make too much money: happiness levels decline once you earn more than $105,000. To make things more confusing, new research from 2021 suggests that the more money people make, the happier they become. For leaders trying to make sense of it all, the focus should be on developing nonmonetary rewards that motivate workers to look beyond a paycheck.
Lead by supporting well-being.
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Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 03:46 - 18 Jul 2022 -
As more companies pursue automation, what new skills will workers need?
McKinsey&Company
Automate it In the news • Turning to robotics. Booming e-commerce, persistent worker shortages, and a vulnerable supply chain have led to surging investment in automating logistics. Retailers are spending billions on robotic arms, autonomous vehicles, and collaborative robots to speed operations in warehouses across the US. The movements of one humanoid robot, designed to perform warehouse tasks such as unloading boxes, was based on studying walking birds. Businesses are increasingly turning to automation as technology costs have come down. [NYT] • Filling in the blanks. Software developers are among the most desired tech workers in the US, with more than 200,000 job openings in May. Much of their work is done manually, but a new tool powered by AI aims to take some of the tedium out of writing long lines of computer code. By predicting and filling in lines of code—similar to the predictive-text function on a smartphone—the coding bot can cut in half the amount of time it takes to develop an app. [WSJ] Automation technologies are being adopted globally: more than six in ten respondents in each region report at least piloting automation. On McKinsey.com • Growing adoption. In every region of the world, a growing share of companies are adopting automation technologies, find senior partner Rohit Sood and colleagues in our latest McKinsey Global Survey. Seventy percent of respondents say their companies are at least piloting automation in one or more business units or functions, up from 66% in 2020. But few are reaping the full potential of automation: less than one-fifth of respondents report that their organizations have already scaled automation technologies across much of the business. • Changing skills. Survey responses show that the most common reasons for automating are to improve business processes’ effectiveness and to create better experiences for customers or employees. Respondents report many benefits from automation, including increased customer satisfaction. But as more tasks are automated, organizations will need workers with more advanced cognitive skills like critical thinking. Learn where successful companies are focusing their automation efforts, and what tools and technologies are most commonly used. — Edited by Belinda Yu Succeed at automation Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:40 - 18 Jul 2022
