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Don’t worry, be happy: Why having fun should be high on your to-do list
The Shortlist
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Our best ideas, quick and curated | July 8, 2022 View in browser 
This week, how to make fun a priority, not an afterthought. Plus, personalized vitamins and the future of wellness, and Tech for Execs explains the crucial role of data products. 
Are you having enough fun? It’s a darn good question, especially during this mellower summer season for many of us. McKinsey recently interviewed Catherine Price about her new book, The Power of Fun: How to Feel Alive Again. She offered tips on how to incorporate more playfulness—both at work and at home—and why having fun boosts happiness and resilience. Here’s an edited version of her Author Talks conversation. Fun as a tool. We typically think of fun as something that we can only have or experience when things are already going well, but what I’ve come to realize is that the opposite is true. Actually, fun can boost our resilience and our spirits in a way that makes it easier for us to cope with whatever life may throw our way, whether it’s a global pandemic or anything else. We really need to rethink how we think about fun—less as a treat that we have only if everything’s already going great and more as a tool that we can tap into to help ourselves weather the challenges that life may present. Go with the flow. Flow is the psychological state in which you get so absorbed in your present experience that you lose track of time, like an athlete in the midst of a game or a musician playing a piece of music or even when you’re in the middle of a really engaging conversation. The important point here is that flow is very different from what’s known as “junk flow,” which is the passive state we get into when we’re just consuming content. I’ve come to conclude that when we are having what people describe as fun—true fun—three elements are present: playfulness, connection, and flow. It takes effort to prioritize fun. Think back on your own life to reflect on what activities, people, and settings typically generate fun for you, and then actually make space for those things in your calendar. You will be happier, you’ll be healthier, you’ll be more productive and creative. I signed up for guitar class, and I started feeling this buoyancy and energy that really kept my spirits raised for the rest of the week. I thought, “This is really interesting. What is this feeling that I’m experiencing?” And I realized that the best word to describe it was fun. Start a ‘delight’ practice. This is a way to introduce a fun mindset, which means becoming more appreciative of opportunities for fun that already exist. Simply resolve to notice things in your environment that bring you any delight. They don’t need to be profound or awe inspiring. A friend texted me a picture of ice crystals on his windshield, along with the word “delight.” He lives in Boston where it’s cold, and he could have said, “I hate scraping ice off my windshield all winter.” Try spending time at work sharing delights. You can do it on Slack or wherever you use workplace communication. It brings people closer, gives them something positive to notice in their lives, and is self-reinforcing. And guess what? It’s fun.
OFF THE CHARTS Europe converges on digital adoption McKinsey’s third annual Digital Sentiment Survey in Europe found that digital adoption remains strong and that there has been a convergence in capabilities among countries in the European Union. Austria and Germany, which have traditionally been slower to adopt digital behaviors, saw the greatest surge in adoption, catching up in industries such as banking, healthcare, and grocery. The United Kingdom had the highest adoption overall, while the Czech Republic, France, Greece, and Portugal saw the greatest decreases in adoption. 
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INTERVIEW ‘Find the smartest technologist in the company and make them CEO’ Marc Andreessen, a Silicon Valley stalwart who has launched the likes of NCSA Mosaic, Netscape, and Opsware, has a unique perspective on how new technologies develop, disrupt, and create opportunities for business. In an interview for the McKinsey Quarterly, he tackles tech trends such as artificial intelligence, crypto, and Web3—and digs into why incumbents still have a tough time competing with digital start-ups. “No matter what big Fortune 500 companies say, they still don’t consider themselves technology companies first and foremost,” he says.
MORE ON MCKINSEY.COM Are personalized vitamins the future of wellness? | Two fast-growing vitamin companies, HUM Nutrition and Vous Vitamin, are betting on personalization. In this podcast, their CEOs discuss the biggest trends in consumer health and wellness. Proposed climate rule signals new era for real estate | The SEC’s draft regulation would require all public companies to disclose emissions and risks related to their real estate. Here’s why the real-estate industry should move preemptively. Reinventing credit cards: Responses to new lending models in the US | Buy now, pay later could pose a challenge to credit cards’ leading position in US payments. To sustain profitable growth, issuers may need to rethink their products, economics, and value propositions.
TECH FOR EXECS Getting out of the data doldrums with data products McKinsey experts serve up a periodic look at the technology concepts that leaders need to understand to help their organizations grow and thrive in the digital age. What they are. Data products are high-quality, ready-to-use, and reusable sets of data that people across an organization can easily access and apply to different business challenges. For example, a data product could provide a 360-degree view of an important entity, such as customers, employees, product lines, or branches. Or it could deliver a given data capability, such as a digital twin that replicates the operation of real-world assets. Data products sit on top of existing data lakes and storage, and they incorporate the wiring and technologies necessary for different business systems to consume the data within them. Think of them like Lego bricks that are readily available in a published catalog and can, for example, snap into an AI application, like a product recommendation engine, quickly. Why you need them. While nearly every company recognizes the power of data, most still struggle to harness it. Typically, data teams end up piecing together the data sets and technologies anew for every application they build. This approach results in significant duplication; a tangle of bespoke technology architectures that are costly to build, manage, and maintain; and neither the near-term nor long-term ROI that companies seek. For teams building data-driven applications, data products eliminate the long cycles spent searching for data, processing them into the needed formats, and building bespoke data sets and data pipelines. We’ve seen businesses use this approach and deliver new business applications as much as 90 percent faster. Data products can also reduce total cost of ownership—including technology, development, and maintenance costs—by 30 percent and significantly lessen the risk and data-governance burden. A large national bank, for example, developed a customer data product that has powered nearly 60 use cases, ranging from real-time scoring of credit risk to chatbots that answer customers’ questions, across multiple channels. These use cases already provide $60 million in annual incremental revenue and eliminate $40 million in losses annually (for example, those related to fraud). The impact will continue to grow as new use cases are supported. How to make data products work for you. A data product is quite similar to a consumer product and should be managed like one. Each data product should have dedicated management and funding, a set of standards that governs its development, quality assurance, and a way to track both the product’s performance and user input so it can be improved over time. Want more on the “how” of data products? We recently shared our thoughts in this Harvard Business Review article. What technology concepts would you like us to help explain next? Let us know. — Edited by Barbara Tierney Share this Tech For Execs
BACKTALK Have feedback or other ideas? We’d love to hear from you. Tell us what you think
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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 Shortlist newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Shortlist" <publishing@email.mckinsey.com> - 02:45 - 8 Jul 2022 -
How’s your nest egg? When you’re old and gray, you may wish you’d saved more.
McKinsey&Company
Save it In the news • Regrets, I’ve had a few. A survey of more than 1,100 Americans over age 55 with at least $50,000 in assets revealed what they would most like to tell their younger selves: start saving sooner for retirement. About half the respondents wished they had invested more aggressively, been more frugal, or saved more. These rueful realizations are especially intense right now amid high inflation—respondents’ top financial worry. [CNBC] • Do it my way. Only 33% of families have conversations about investing, revealed a survey of 2,000 13- to 17-year-olds. Educating kids about investing can yield big returns, because if they get started soon enough, they may enjoy 40 years of compounded interest before retirement. An 18-year-old with a $100 a month investing habit—and a 6% return—will be looking at more than $313,000 by age 65. [MarketWatch] “Start saving and investing so you can create income for the future tired—or even lazier—version of you.” On McKinsey.com • Who wants to be a millionaire? Julien and Kiersten Saunders, creators of the rich & REGULAR blog, are part of a movement known as FIRE, for “financial independence, retire early.” In this edition of McKinsey’s Author Talks, the couple discusses paying off their debts and saving and investing aggressively so that they can retire by their 40s. Their blog shares tips on frugal living and investing, with a special focus on people of color, who may have fewer role models in their lives who have achieved financial independence. • The best is yet to come. The Saunderses’ new book, Cashing Out: Win the Wealth Game by Walking Away, says an important step toward achieving financial independence is to give your income a purpose: for example, it can buy freedom from labor for when you eventually become tired and need to slow down. When income is tied to purpose, it’s less tempting to fritter it away on goods that expert marketers convince us we need. For Black people, there is a special significance, because while Black buying power is high, Black net worth is declining, the Saunders say. — Edited by Katy McLaughlin Save for that rainy day 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> - 12:09 - 8 Jul 2022 -
SmartWaste - Waste Management Software - A Greener, More Sustainable Telematics Solution
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by "Uffizio Technologies Pvt Ltd" <official@uffizio.in> - 07:00 - 7 Jul 2022 -
Best developer events, free online training, and API governance practices
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by "New Relic EMEA" <emeamarketing@newrelic.com> - 04:47 - 7 Jul 2022 -
Frontline nurses are still leaving patient care. What will keep them in their roles?
McKinsey&Company
Fighting for frontline nurses In the news • In need of nurses. Burnout, mental-health issues, unrelenting pressure: frontline nurses are quitting their jobs at a time when strained health budgets and the COVID-19 crisis have made recruiting more difficult. Between April 2021 and March 2022, more than 27,000 nurses and midwives in the UK left the register of workers who can practice in the country, a 13% increase from the prior year. National leaders need to provide more training opportunities in addition to improving working conditions for nurses, says a senior fellow at a UK healthcare charity. [FT] • Overworked. Frontline nurses in the US are fighting an uphill battle to properly care for patients. All over the country, nurses say they are exhausted and overwhelmed. Ongoing staffing shortages have left them working the equivalent of multiple jobs, with long hours, no breaks, and too many patients. Nursing advocates want hospitals to mandate minimum staffing levels, but hospitals say they can’t bear the expense. One US hospital group estimates that members have lost upward of $400 billion from the COVID-19 crisis. [Bloomberg] Surveyed nurses in most countries highlighted the ability to take time off and to work specific hours or days of the week as important. On McKinsey.com • Leaving the front line. It’s no secret that the COVID-19 pandemic has taken a toll on nurses. But globally, a substantial population of frontline nurses still want to leave their current roles, reveals a March 2022 survey of nearly 800 nurses in Brazil, France, Japan, Singapore, the UK, and the US. In five out of six countries, more than a quarter of nurses say that they will likely quit direct patient care in the next year. That means the risk of global nursing shortages may be rising. In the US alone, an additional 200,000 to 450,000 nurses could be needed by 2025. • Why nurses stay. Across geographies, there is a striking degree of consistency about how nurses feel in their roles. In most countries, nurses say that pay is not a top factor influencing them to stay. Instead, they overwhelmingly state that doing meaningful work, having a positive and engaging work environment, and feeling healthy and safe are among the biggest reasons keeping them in direct patient care, McKinsey research reveals. See a snapshot of nursing in six charts, and the two things nurses believe will most effectively support their well-being. — Edited by Belinda Yu Learn what makes nurses stay 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> - 12:13 - 7 Jul 2022 -
พบกับ ชไนเดอร์ อิเล็คทริค ในงาน Future Energy Asia และ Future Mobility Asia
Schneider Electric
เตรียมพบกับ ชไนเดอร์ อิเล็คทริค ในงาน Future Energy Asia และ Future Mobility Asia 2022 กับธีม Electricity 4.0: Powering the New Electric World
พบกับวิทยากรจากชไนเดอร์ อิเล็คทริค นายมงคล ตั้งศิริวิช รองประธาน ชไนเดอร์ อิเล็คทริค ร่วมพูดคุยใน panel discussion หัวข้อ US$1.2 Trillion Opportunities in Digitalising & Modernising ASEAN’s Grid และ Weili DING ผู้อำนวยการฝ่ายสวิตช์เกียร์ไฟฟ้าแรงดันสูง นำเสนอในหัวข้อ SF6-Free: Sustainable Growth with MV Innovation
ร่วมพูดคุยกับผู้เชี่ยวชาญถึงโซลูชันต่างๆ ได้ที่บูธ ชไนเดอร์ อิเล็คทริค (MK01 ฮอลล์ 98) ณ ไบเทค บางนา ในวันที่ 20 - 22 ก.ค.
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by "Schneider Electric" <reply@se.com> - 04:02 - 6 Jul 2022 -
Big, global trends are shaking up the fashion industry. How can brands thrive?
McKinsey&Company
Fashion forward In the news • Dressed to impress. After two-plus years of staying in, consumers are ditching the sweatpants in favor of party dresses and tailored suits. As people return to in-person socializing, major brands in America and Europe are seeing a rise in the demand for nice clothes. Consumers have a lot to shop for: in the US alone, around 2.5 million weddings are scheduled for 2022. One company that rents out designer clothes reported a doubling of sales in the first quarter of 2022. [Bloomberg] • Borrow or buy? As people become more ethical consumers, paying to wear a stranger’s clothes no longer raises eyebrows. In the UK, renting clothes isn’t as popular as it is in the US, but that may be changing. In 2021, 27% of UK consumers said they were interested in renting apparel, up from 22% a year prior. One London-based clothing rental app recently received $3 million in funding to expand to new markets. Globally, the sharing economy (including peer-to-peer rentals of consumer goods) could total $1.5 trillion by 2024. [FT] “We were all surprised by how quickly luxury returned from the lows of the pandemic. This return has mainly been driven by China but also by a strong recovery in the US.” On McKinsey.com • Looking for luxury. The fashion industry is facing a raft of challenges, including conflict in Europe, the COVID-19 crisis, and continued high inflation. But despite economic headwinds, consumers are raring to spend on high-end fashion, with very strong demand for luxury so far, says McKinsey’s Achim Berg. Companies are ready to dress consumers for celebrating and entertaining, and categories that were hit hard throughout the COVID-19 pandemic, such as high heels, dresses, and suits, are as of now making a strong comeback. • A global shake-up. Travel picking up in Europe, North America, and parts of Asia will affect consumer spending. However, the recovery of fashion will highly depend on how long the war in Ukraine lasts. If energy prices and cost of living continue to increase, consumers could return from their summer vacations feeling pinched by budgets, which might put a damper on large parts of the fashion industry, says Berg. Explore how global trends are shaking up the fashion industry and what companies can do to adapt. — Edited by Belinda Yu See how fashion can thrive 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> - 12:39 - 6 Jul 2022 -
Video entertainment in 2030
McKinsey&Company
Share this email New from McKinsey & Company 
Video entertainment in 2030 McKinsey experts predict that video entertainment, in all its forms, will become more immersive, gamified, and personalized. Immerse yourself Related Reading 
The future of video entertainment: Immersive, gamified, and diverse You’re at the movies with friends—but the movie is more like a game with a narrative. You feel like you’re in the movie because your seat gets hot when there’s a fire on screen. And everyone can see and hear the movie in whatever language they choose. That scenario could represent the next normal in video entertainment, according to McKinsey experts and industry executives. Watch what happens 
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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 Next Normal newsletter list. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey & Company" <publishing@email.mckinsey.com> - 04:21 - 5 Jul 2022 -
What’s your digital persona? Here’s what most excites metaverse consumers.
McKinsey&Company
Creating value in the metaverse In the news • What’s real? People’s digital lives are just as meaningful as their real lives, claims one philosopher. Reuniting with family members by videoconference can be touching. Bullying on social media involves real emotions and consequences. Investing in cryptocurrency leads to real money being gained or lost. As everyone spends more time online, it’ll become even more important to discuss the nature of reality. Yet if consumers can have meaningful experiences in the metaverse, digital worlds can be just as real as anything else. [NYT] • India’s first metaverse influencer. Meet Kyra. She’s 21 years old, has around 100,000 followers on social media, and calls herself a “dream chaser, model, and traveler.” Oh, and she’s rendered entirely in CGI. Brands are using virtual influencers like Kyra to market their products, promote events, and support social movements. Consumers engage with digital influencers more frequently than with their human counterparts, but some experts are concerned that digitally enhanced images will perpetuate body image issues. [Quartz] With its potential to generate up to $5 trillion in value by 2030, the metaverse is too big for companies to ignore. On McKinsey.com • Real-world benefits. The metaverse is still being developed, but its real-world benefits are already coming to light. Leading brands are using metaverse platforms to increase consumer loyalty and build community around digital goods, such as virtual clothing and NFT art. One sportswear company’s recent NFT collaboration led to sales of more than $100 million, and millions of gamers are regularly attending virtual concerts. It’s no wonder that investors have poured more than $120 billion into metaverse projects in the first five months of 2022. • Excited and engaged. Consumers are already engaging with the metaverse in many ways, finds a McKinsey survey of more than 3,400 consumers and executives. They’re most excited about connecting with people through virtual immersive experiences and exploring digital worlds. Executives are also keen on metaverse opportunities, with around 95% expecting the metaverse to affect their industry positively within five to ten years. Explore the skills, technologies, and strategies needed to unleash the full potential of the metaverse. — Edited by Belinda Yu See the value in the metaverse 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> - 10:10 - 4 Jul 2022 -
Most popular recent issues—and a brief pause
McKinsey&Company
Share this email Thanks for your continued interest in The Daily Read, and we hope you’ve been enjoying our editors’ picks of McKinsey’s must-read article, chart, and quote for each day. The Daily Read will be taking a break for the next two weeks, but we’ll see you back in your inbox on July 18. In the meantime, you can always browse through our archive of top editions, and here are three of our favorite recent issues featuring some of our most-read articles. Take a look in case you missed them the first time around. And if you have friends or colleagues you think might enjoy The Daily Read when it’s back, we hope you’ll consider forwarding this email or sharing it on LinkedIn, Twitter, or Facebook. If they want to get future issues in their inbox—or to see our 40+ other free email products—they can sign up at mckinsey.com/subscriptions. (You might want to check it out, too, to revisit your subscriptions or find out about new publications.) 
War in Ukraine: Twelve disruptions changing the world 
Fight burnout by asking eight key questions 
The metaverse could generate up to $5 trillion in value by 2030 Follow our thinking McKinsey Insights - Get our latest
thinking on your iPhone, iPad, or AndroidThis 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> - 06:28 - 4 Jul 2022 -
Creating (nuanced) autonomy in the workplace: A leader’s guide
Leading Off
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ESSENTIALS FOR LEADERS AND THOSE THEY LEAD
As the US celebrates its independence on July 4, references to freedom are everywhere. It might be worthwhile to reflect that while freedom is a privilege to be grateful for, it also comes with checks and balances. This tension is apparent in the postpandemic workplace, where many leaders support employees’ growing demands for autonomy—the ability to control how, when, where, and, increasingly, if they work—but struggle to set parameters around it. Finding the right balance between employee autonomy and management oversight is an enduring challenge: as McKinsey’s Bryan Hancock puts it, “What drives me crazy is when I hear an executive say, ‘This is just a near-term employee power thing.’ No, it’s not.” This week, let’s explore the issue of employee autonomy—and how best to approach it. AN IDEA 
Flexible work is for (almost) everyone Not all work is remote, but more of it is than you might think. That’s one of the notable findings of McKinsey’s latest American Opportunity Survey. At first viewed as a temporary pandemic response, hybrid or remote work has become an enduring feature of the modern world across most industries, occupations, and regions—58 percent of Americans can work from home at least one day a week, 87 percent would work flexibly if offered the chance to do so, and flexible work is one of the top three motivators to find a new job. Flexible work options are available even in traditionally labeled “blue collar” jobs that might be expected to require on-site labor. As new working models evolve, leaders will need to explore which roles can and cannot be performed remotely, how much day-to-day flexibility their teams expect, strategies to integrate on- and off-site workers, and—perhaps most important—ways to measure how well their chosen models are working.
A BIG NUMBER $200 billion That’s how much employers pay every year in healthcare costs for workplace stress, much of which results from limited job control—the amount of discretion that employees have to determine what they do and how they do it. Research shows that people in roles with more autonomy experience less physical or mental stress in the workplace even if they face greater job demands. Leaders who are challenged to define flexible work options may want to consider the negative impact of restricted job control and the positive impact of employee autonomy: workers who have more control over their jobs are healthier, more engaged, and better motivated, thereby boosting organizational effectiveness. 
A QUOTE “For leaders to facilitate flexibility and succeed in hybrid work, enabling employee autonomy will be paramount.” That’s one of the conclusions of a study of hybrid work published in the Harvard Business Review. According to the researchers, what employees really mean by wanting “flexibility” is wanting autonomy, or the ability to be the primary decision makers of where and when they do their work. By directly blocking this ability, mandates such as requiring a certain number of days in the office are likely doomed to fail. Instead, establish principles, not policies: for example, rather than dictating three days a week in the office, you may want to encourage employees to decide which locations best enable them to carry out certain tasks. Also, consider investing in tools and training to build the skills that employees need to work autonomously.
A SPOTLIGHT INTERVIEW 
Giving his teams a high degree of autonomy has paid off for Prashant Gandhi, managing director and head of digital payments at JPMorgan Chase. But it didn’t happen at the expense of structure. “While autonomy is celebrated and talked about frequently, I find that what’s often missing is a careful discussion on the management systems needed to support it,” he says in this interview with McKinsey. “Otherwise you get chaos.” Gandhi’s organization uses a shared culture and guiding principles—in this case, centered on customer satisfaction—to set up a management system that rewards independence and initiative. “If you lay out principles, give people autonomy to deliver on those principles, and provide a system of reviews that’s fair and rigorous, people get it and rally around it,” he says.
CATCH ME IF YOU CAN 
Flexibility has its downsides. Employees who work remotely report burnout, alienation from colleagues, feeling invisible to management, and a host of other ill effects. For employers, the implications are different but no less dire. There is often a lingering fear that remote workers may slack off during business hours, moonlight, leak confidential information, or otherwise abuse their flexibility. Using remote monitoring tools without disclosure may raise legal risks. Ultimately, creating a culture of trust and transparency may be the best way for leaders to ensure autonomy—within necessary limits. Lead flexibly. — Edited by Rama Ramaswami, a senior editor in McKinsey’s Stamford, Connecticut, office
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by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 02:44 - 4 Jul 2022 -
Top 5 from the McKinsey Global Institute
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New from McKinsey & Company Top 5 from the McKinsey Global Institute Many of our most popular recent articles come from the McKinsey Global Institute, which you’ve let us know you’re interested in. In case you missed these insights in your inbox, we’ve bundled them up here for another chance to check them out. We hope you enjoy them as much as others have—and that you share them with colleagues and friends who might also be interested. We’re continually developing new articles and reports on these topics, so keep an eye out for those in the days and weeks to come as well. 
Human capital at work: The value of experience Human capital represents two-thirds of wealth for the average individual—and work experience contributes almost half of that value. Follow the knowledge
The rising toll of the war in Ukraine Lives lost and upended. Soaring food and energy prices. Supply chains at risk. Much is at stake as the war continues. Understand the crisis
Securing Europe’s future beyond energy: Addressing its corporate and technology gap European leaders have shown great resolve in their initial response at scale and speed to the war in Ukraine. They will need to build the same momentum to face the region’s slow-motion corporate and technology crisis. An estimated €2 trillion to €4 trillion of annual value could be at stake—six times the amount needed for the net-zero transition—and with it Europe’s long-term prosperity and strategic autonomy. A program of 11 actions can turn the tide. Understand regional trends
Forward Thinking on tech and the unpredictability of prediction with Benedict Evans One of the tech world’s sharpest analysts talks about the frontier and how we got here, connecting the metaverse, Web3, and crypto with everyone from industrialist Henry Ford to writer Voltaire to historian Hugh Trevor-Roper. Look ahead
Taking the first steps toward net-zero emissions The path to net-zero emissions is full of challenges. Leadership must understand the risks and commit to change now—or face an even thornier transition down the road. Shift to green
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by "McKinsey & Company" <publishing@email.mckinsey.com> - 11:51 - 3 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, inclusive growth. In case you missed them, this week’s graphics explored the value of diverse-owned businesses, long-duration energy storage (LDES) technologies, the corporate sector’s reaction to the war in Ukraine, sustainable operations for semiconductor manufacturers, and Americans’ pessimism about economic opportunity. FEATURED CHART Diverse building blocks 
See more
This week’s other select charts Storage as a power play Corporations take a stand Sustainable sources for fabs Tempered expectations
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by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:28 - 2 Jul 2022 -
Here’s how work experience adds to the value of human capital
McKinsey&Company
Share this email Monthly Highlights, July 2022 As humans, we each have a unique living, breathing set of capabilities. We also have an innate set of fears: in the workplace, this can translate to fear of criticism, fear of uncertainty, and fear of harming one’s career. Organizations that prioritize and strengthen employee development not only enable their workers to realize their full career potential but also foster an organizational culture of innovation. This month, our featured stories look at how work experience contributes to almost half of the value of human capital—that is, the collective knowledge, attributes, skills, experience, and health of the workforce—as well as why the culture and employee experience of innovation correlate highly with an organization’s overall success at innovating. Other highlights in this month’s issue include the following topics: - Silicon Valley’s Marc Andreessen on tech trends such as artificial intelligence, crypto, and Web3
- the emergence of the metaverse and its value creation potential
- the latest on inflation and an analysis of the world economy
- how public- and private-sector organizations can achieve resilience and be ready to withstand shocks
Editor’s choice Human capital at work: The value of experience Human capital represents two-thirds of wealth for the average individual—and work experience contributes almost half of that value. Follow the knowledge 
Fear factor: Overcoming human barriers to innovation Worries about failure, criticism, and career impact hold back many people from embracing innovation. Here’s how to create a culture that accounts for the human side of innovation. Embrace new possibilities THIS MONTH’S HIGHLIGHTS 
‘Find the smartest technologist in the company and make them CEO’ In the first episode of the new The Quarterly Interview: Provocations to Ponder series, Silicon Valley’s Marc Andreessen tackles tech trends like artificial intelligence, crypto, and Web3—and why incumbents still have a tough time competing with digital start-ups. Join the conversation Value creation in the metaverse With its potential to generate up to $5 trillion in value by 2030, the metaverse is too big for companies to ignore. Enter the metaverse 
Global Economics Intelligence executive summary, May 2022 Central banks move against inflation; US industry expands while China’s economy contracts amid COVID-19 measures; supply challenges persist. Get updated 
Resilience for sustainable, inclusive growth Resilience should be seen as the ability to deal with adversity, withstand shocks, and continuously adapt and accelerate as disruptions and crises arise over time. Withstand shocks 
Inside Rishad Premji’s quest to create a high-performing culture at Wipro The executive chairman of global technology services company Wipro wants to promote cultural change at the 77-year-old organization by institutionalizing five habits in the workplace. Transform the mindset 
Reflections on 20 years of McKinsey on Finance—and three challenges ahead Revolutionary innovations, brilliant ideas, and climate imperatives will change everything—except the fundamentals of finance and economics. Take a step back SPECIAL FEATURES 
Environmental, social, and governance report Last year marked a pivotal moment for McKinsey, which set a long-term aspiration to help shape and accelerate a new era of growth that is both sustainable and inclusive. Download the full report 
Author Talks Discover our latest interviews with authors of books on business and beyond. Smarten up 
My Rookie Moment McKinsey senior colleagues share their formative early-career experiences to help you navigate yours. Watch the latest episode 
The McKinsey Crossword Sharpen your problem-solving skills the McKinsey way, with our weekly crossword. Play on 
McKinsey Classics Basic trends and responses in bank risk can reveal the future of the risk function throughout big business. Read our 2016 classic “The future of bank risk management.” Rewind 
Leading Off Read a sample of our Leading Off newsletter, and sign up for it or any of our 40+ free email subscriptions. Subscribe — Curated by Eleni Kostopoulos, a digital publishing manager in McKinsey’s New York office Follow our thinking McKinsey Insights - Get our latest
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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 are a registered member of our Monthly Highlights newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Highlights" <publishing@email.mckinsey.com> - 11:58 - 2 Jul 2022 -
Sustainable and inclusive growth, cybersecurity, and more big reads for the weekend
Harmony Internal - McKinsey
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CURATED PICKS FOR YOUR DOWNTIME, FROM OUR EDITORS
Joyce Yoo
Digital Editor, New YorkIt's a long weekend for many in North America, with Independence Day and Canada Day. As you unwind, take a moment to catch up on the latest reads from this week, with topics including cybersecurity, allyship, and more:
Quote of the day
—Christoph Böhm of Deutsche Börse on how the company’s cloud IT team engaged with cybersecurity and privacy functions in “The cloud as a strategic ecosystem for innovation and growth”
Chart of the day
ready to unwind?
The future of video entertainment: Immersive, gamified, and diverse
You’re at the movies with friends—but the movie is more like a game with a narrative. You feel like you’re in the movie because your seat gets hot when there’s a fire on screen. And everyone can see and hear the movie in whatever language they choose. That scenario could represent the next normal in video entertainment.
Explore McKinsey Themes
Essential reading on topics that matter. This weekend’s posts touch on Pride Month, stepping out of your comfort zone, sustainable, inclusive growth in the US, and more.
54-Down: Future leaders ... and the dedicatees of this puzzle
Know the answer? Test yourself with the latest McKinsey Crossword, Future Leaders | No. 82.
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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> - 06:56 - 1 Jul 2022 -
What’ll you watch tomorrow?
McKinsey&Company
Share this email The Next Normal | What’ll you watch tomorrow?
The future of video entertainment: Immersive, gamified, and diverse You’re at the movies with friends—but the movie is more like a game with a narrative. You feel like you’re in the movie because your seat gets hot when there’s a fire on screen. And everyone can see and hear the movie in whatever language they choose. That scenario could represent the next normal in video entertainment, according to McKinsey experts and industry executives. Watch what happens
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thinking on your iPhone, iPad, or AndroidThis 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 Next Normal newsletter list. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey & Company" <publishing@email.mckinsey.com> - 02:52 - 1 Jul 2022 -
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by "Remote" <hello@remote-comms.com> - 08:02 - 1 Jul 2022 -
Et tu, inflation? First a pandemic, then a price squeeze. Can retailers bounce back again?
The Shortlist
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Our best ideas, quick and curated | July 1, 2022 View in browser
This week, retailers feel the big (price) squeeze. Plus, what’s putting the sizzle in semiconductors, who’s leading the transformation at Wipro, and how tech is transforming higher education. 
Roiling retail. What haven’t retailers been through since 2020? A dramatic consumer retrenchment in the early phases of the pandemic, a fierce shift to online sales, a return to omnichannel, followed by in-store shoppers again—thankfully—and now rising inflation in many markets. The price isn’t right. Retailers must contend not just with the rising cost of merchandise but also with cost increases on everything from manufacturing inputs and freight to fuel and wages. Consumer sentiment is darkening, and spending has eased in some categories that were previously growing, causing them to flatline or even drop. For instance, US consumers are paying more for but consuming less in restaurants, travel, and gasoline. Wall Street is also showing concern about retailers’ prospects. There’s no magic cure, but there is hope. Retailers that take a comprehensive approach can develop solutions that sustain their businesses, retain customers, and ensure long-term growth. Taking several actions now, including revisiting their category strategies to reflect shifts in consumer purchase behavior and margin profiles, rethinking operations to optimize productivity, and enhancing supply chain visibility and diversification, can help. An inflation ‘win room.’ Managing the implications of inflation across a broad operational landscape calls for an agile response. A flexible, cross-functional structure can set clear goals for the organization, increase the speed of decision making, and apply lessons learned. Retailers can turn these challenges into opportunities—if they make bold, deliberate decisions. The longer view. Companies that achieve breakthrough performances during economic downturns tend to outperform their peers over the decade that follows. The world saw this following the Great Recession of 2007–09; the most resilient retailers were able to drive 11 percent annual growth in TSR—more than five times higher than their peers—through 2018. The retail environment is likely to remain challenging for some time. Recognizing that inflation is likely to persist can give companies a solid incentive to act holistically across the organization and value chain.
OFF THE CHARTS Putting the sizzle in semiconductors With demand for chips continuing to outstrip supply, strong growth is possible for all semiconductor companies, regardless of size. While the largest companies generate the greatest profits, our analysis also found that small, niche players have high operating margins. 
Check out our chart of the day here.
INTERVIEW Long history, strong culture, big transformation The software giant Wipro has more than 220,000 employees across six continents and is now India’s third-largest IT services provider by market cap. Rishad Premji, who became its executive chairman in 2019, felt that the company’s performance didn’t reflect its true potential. In an interview with McKinsey, he talked about his determination to make Wipro “a high-performing organization that still has a soul—that is empathetic, vulnerable, collaborative, and decent.”
MORE ON MCKINSEY.COM How technology is shaping learning in higher education | Students and faculty are eager to continue using new classroom learning technologies adopted during the pandemic, McKinsey research shows, but institutions could do more to support the shift. Reskilling older workers for new careers in tech | We debunk the misperceptions hiring managers have about job candidates who are between 45 and 60 years old—that they won’t catch on to technology, will have a hard time developing new skills, and won’t relate to younger teammates. Mastering the dual mission: Carbon and cost savings | OEMs will need to move quickly to achieve their “dual saving” ambition of reducing both total product emissions and costs. A limited supply of low-carbon materials adds pressure to act now.
PARTING QUOTE 
— 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> - 01:16 - 1 Jul 2022 -
The space industry is growing by leaps and bounds. Where does that leave governance?
McKinsey&Company
The new space race In the news • Keeping well in space. As space agencies contemplate sending humans to Mars, there’s growing concern about what traveling long distances will do to astronauts’ mental and emotional health. In a 2021 study, astronauts were slower to recognize emotions after two months of simulated weightlessness and more likely to interpret facial expressions as angry. Researchers have learned that growing vegetables can lift the spirits of crew members; they’re also exploring how VR may help explorers experience Earth’s comforts from far away. [CNN] • To Uranus and beyond. The only visit humankind has made to Uranus was in 1986 via a robotic spacecraft. Although the planet is more than a billion miles from Earth, a distance that could take 15 years to travel, top US scientists are recommending a return trip. A limited understanding of ice giants Uranus and Neptune is hindering what we know about planetary science. While a mission to Uranus would carry a price tag of over $4 billion, it could attract the next generation of scientists, engineers, and leaders in space. [Bloomberg] The principles for operating in space were largely set forth in five UN treaties penned in the 1960s and 1970s. On McKinsey.com • A space renaissance. A golden age for space is at hand. Around the globe, commercial funding for space is at an all-time high, while advancements in technology have opened access to space for more countries and companies. But as the space economy expands, competition is increasing, with public and private stakeholders all jockeying for resources. At the same time, progress in the space sector has reached a point where commercialization is starting to outpace governance, finds a joint research effort from McKinsey and the World Economic Forum (WEF). • Five key actions. By 2030, more than 100 countries may have space agencies and about 15,000 satellites could be in orbit, according to analysis by McKinsey and the WEF. As space grows more crowded, so too does the need for nations, sectors, and industries to collaborate on issues such as reducing space debris, managing space traffic, and providing critical infrastructure. Discover five actions leaders can take to realize the full potential of space, ensuring that it remains accessible—and safe—for all. — Edited by Vanessa Burke Secure the future of space 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> - 10:13 - 30 Jun 2022 -
Digital trends show big gains and new opportunities in Europe
the Daily read
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AN ARTICLE A DAY, PICKED BY OUR EDITORS
While offline activity has picked up following the end of COVID-19-related quarantines, digital adoption in Europe remains strong. As consumers, businesses, and governments deal with increasing economic and geopolitical uncertainties, a strong focus on digital will help companies become more resilient, improve efficiency, and enhance decision making. McKinsey’s third annual Digital Sentiment Survey in Europe highlights the 9 digital trends and the opportunities that lie ahead. Check it out and see why digital should reign supreme. — Joyce Yoo, digital editor, New York 
Opportunity knocks for Europe’s digital consumer: Digital trends show big gains and new opportunities Despite still high digital adoption rates, our latest Digital Sentiment Survey finds that consumers are uncertain about the future. But clear opportunities for digital growth exist for companies that know where to look. Explore the survey results
Quote of the Day “[Really] good tech companies build really good stuff. To compete with them you have to be in the game. . . . You need people who really know what they’re talking about to make really good decisions around this stuff. So, at some point, yes, you need to put the technologist in charge.” —Marc Andreessen of venture capital firm Andreessen Horowitz on how big companies can digitally transform in "‘Find the smartest technologist in the company and make them CEO’"
Chart of the Day 
See today’s chart
Also New 
Nature and financial institutions in Africa: A first assessment of opportunities and risks Africa’s climate resilience can be strengthened by redefining its economic model to leverage natural capital and designing financial systems to redirect critical nature-based investments. Leverage natural capital
Americans are embracing flexible work—and they want more of it The American Opportunity Survey illuminates how many people are offered the option to work from home, who works flexibly, and how they feel about it. Dive into the data
Managing financial crime risk in digital payments To face down the financial-crime threat, payments service providers can learn from banks while utilizing their own advanced technological skills. Understand the risk
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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> - 06:51 - 30 Jun 2022
