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AN ARTICLE A DAY, PICKED BY OUR EDITORS

by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:42 - 13 Apr 2023

Better Log Analytics - On-Demand Webinar

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What it takes to become a CEO: 8 lessons from the McKinsey Leadership Forum

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Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities

In today’s rapidly changing and volatile world, how does one prepare to become CEO? What insights are needed to make it to the top? Drawing on their work with more than 300 leaders who have participated in the McKinsey Leadership Forum—including current and former CEOs, as well as McKinsey experts—Meagan Hill, Celia Huber, Ishaan Seth, and Kurt Strovink share eight lessons about the process of preparing for the CEO role in a new McKinsey Quarterly article. Read about the aspirations, career paths, and leadership philosophies of C-suite executives and see what it takes to become a better leader.

Rising CEOs: Lessons from the McKinsey Leadership Forum

Preparing for the CEO role can be a challenge and a reward. These eight lessons drawn from more than 300 McKinsey Leadership Forum participants and the CEOs who advise them will benefit any top executive or aspiring CEO.

8 key lessons

Quote of the day

“A lot of folks have felt that the nature of the post-COVID period and economic shock mean that we can go back to the old way on the talent value proposition. I think that’s a mistake. The world is moving and adapting, and companies need to adapt with it.”

—McKinsey senior partner and chief client officer Liz Hilton Segel on leaders prioritizing talent in a recent episode of The McKinsey Podcast

Chart of the day

See today’s chart

ALSO NEW

Scaling analytics across financial services: Understanding the value of model life cycle transformations

To address the challenges of scaling up analytics business areas, financial institutions can accelerate value delivery with four efficiency levers.

4 types of efficiency levers

Missing piece in the brain shaped jigsaw puzzle fits into place. - stock photo

Modern marketing: Six capabilities for multidisciplinary teams

The business-as-usual approach to marketing is no longer sufficient. To succeed in modern marketing, professionals must develop broad skillsets and prioritize collaboration.

Six marketing core capabilities

Logistics Disruptors: Using big data to spot shipping anomalies

Intelligent Audit’s Hannah Testani says the company uses machine learning to help customers eliminate unnecessary shipping costs.

Throw away your ballpoint pens

— Edited by Joyce Yoo, editor, New York

Follow our thinking

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by "David" <davidmoussavou@getnada.com> - 06:26 - 12 Apr 2023

Increasing US productivity could add trillions in GDP over the next decade. Here’s how.

On Point

TODAY’S NEWS. TOMORROW’S INSIGHTS.
A daily newsletter from McKinsey & Company

Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities

Revitalizing US productivity

In the news

•

Missing workers. Economists’ predictions of a pending recession are at odds with one aspect of the US economy: the tight labor market. The US labor supply has reached prepandemic levels. Still, labor demand (especially in the service sector) has seen an increase of 3 million jobs. Much of the shortage stems from the number of older Americans who left the workforce during the pandemic. Illness may have also contributed to a current lack of workers. In 2022, 1.6 million employees were out sick at least one week each month, up from 1 million prepandemic. [Economist]

•

A tech-based generation gap. Despite being digital natives, members of Gen Z entering the workforce report that they lack critical tech skills. More than half of Gen Zers say that they received very little (or no) instruction in digital skills, per a survey of about 15,000 adults. An existing education gap between lower-income and affluent students means many Gen Zers are falling behind. Even as companies invest in automation and other digital tools, they often lack the training resources necessary to get workers up to speed. This has left many Gen Zers suffering from “tech shame.” [Fortune]

Today, the most significant challenges to US productivity are insufficient skilled labor supply, uneven technology adoption, and stalling investment.

On McKinsey.com

•

A $10 trillion opportunity. Despite technological advances, US labor productivity has fallen from a long-term trend of 2.2% annual growth to an average of 1.4%. At the same time, inequality among sectors is increasing. While some industries have benefited from tech adoption (such as finance and insurance), services-led sectors (such as healthcare) are badly lagging on productivity growth. Boosting US productivity to historical levels could add $10 trillion in cumulative GDP over the next ten years, finds research by McKinsey North America managing partner Asutosh Padhi and coauthors.

•

Accelerating productivity. Cities, states, sectors, and individual companies can all play a role in addressing the labor participation rate, workforce shortages, and skills gaps. Improving potential barriers to interstate mobility, like the high difference in housing prices across regions or the growth in requirements for occupational licensing; scaling up talent reskilling programs; and adopting hybrid-work practices could increase labor participation. See five areas where business leaders and policy makers can take action to lift US productivity and deliver greater prosperity.

Jumpstart US productivity

— Edited by Gwyn Herbein, editor, Atlanta

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TODAY’S NEWS. TOMORROW’S INSIGHTS.
A daily newsletter from McKinsey & Company

by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:48 - 12 Apr 2023

The wait is over: Announcing the 2023 Remote Influencer Report 🎉

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We are excited to announce that the 2023 Remote Influencer Report is now available!

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by "Hallie Wiseman at Remote" <hello@remote-comms.com> - 08:03 - 11 Apr 2023

Travelers are back in full force. Can short-staffed hotels still deliver quality service?

On Point

Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities

Solving hotels’ staffing shortages

In the news

•

Robot helpers. From hotels and restaurants to grocery stores, the use of service robots in customer service is becoming more common. Many organizations turned to self-service kiosks as the COVID-19 pandemic created anxiety over in-person transactions. Adopting service-robot technologies could potentially increase efficiency, trim costs, and automate routine tasks. However, research finds that customer satisfaction is likely to be higher if service robots have human qualities, including the capacity for emotion. [HBR]

•

Changes to cleaning. Damp towels heaped on the floor, unmade beds, piled-up trash: daily housekeeping is becoming rarer in hotels. The COVID-19 pandemic interrupted cleaning routines as guests hesitated to have people in their rooms. Travelers have returned to hotels, but amid widespread staffing shortages, daily cleaning largely hasn’t. Major midlevel hotel chains are requiring guests to ask to have their rooms cleaned. Sectorwide, eliminating daily housekeeping could cut US hotel housekeeping jobs by 39%, a trade union estimates. [NYT]

At one resort, weekly hours could be reduced by up to 18% by applying three staffing innovations, specifically to front-desk and housekeeping roles.

On McKinsey.com

•

Fewer hotel workers. Many hotel workers have exited their jobs for others that offer more flexibility or higher pay. As travelers return in full force, hotels are left operating with fewer staff members. Yet this could give hotel leaders a chance to think creatively about roles and staffing, McKinsey partner Ryan Mann and coauthors state. For instance, many hotels base their staffing levels on average weekly occupancy, which doesn’t reflect real need. Occupancy often fluctuates from day to day and week to week.

•

Shifts in staffing. By staffing according to peaks in occupancy instead of weekly averages, one hotel trimmed the total labor hours it needed by about 10%. The hotel accomplished this by scheduling an additional front-desk employee to work the hours associated with high checkout volumes. This also created better work–life balance for front-desk staff. See three innovative practices that could help hotels deliver high levels of service even if they are short staffed.

Discover new ways to staff

— Edited by Belinda Yu, editor, Atlanta

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:42 - 11 Apr 2023

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by "Sunny Thakur" <sunny.thakur@uffizio.com> - 12:30 - 11 Apr 2023

Ready, set, go: A leader’s guide to action in 2023

Harmony Internal - McKinsey

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ESSENTIALS FOR LEADERS AND THOSE THEY LEAD

Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities

Leaders are used to deciding what should happen when. Yet sometimes the goal may be clear but the path murky on the way there. Or it may be difficult to detect which of many possible actions is most suited to a specific situation. In an uncertain world, the test of a leader’s skill may lie in reading and responding to signals accurately: our research shows that this capability may be what kept some organizations more resilient than others during the pandemic-induced downturn of 2020. If you’re not sure which signals are red flags or green lights, read on for some indicators.

AN IDEA

Wintery aerial view of a red ice-breaker ship pushing through cracked sea ice.

Watch for three signs that need action

Leaders have a multitude of priorities, but CEOs the world over agree on what matters most. In our latest CEO Excellence Survey, led by McKinsey senior partners Carolyn Dewar, Scott Keller, Vikram Malhotra, and Kurt Strovink, the heads of leading companies name disruptive technology, the economy, and geopolitics as the top signals that they expect to monitor and act on in 2023. A mix of defensive and offensive moves takes center stage in this new playbook. For example, in response to digital disruption, many global companies are spending heavily on advanced analytics to gain competitive advantage. They’re also fortifying cybersecurity infrastructure as online threats escalate. And the growing number of geopolitical risks has many leaders enhancing their organizations’ compliance and early-warning capabilities: “Globalization is changing, but it’s not disappearing,” says one CEO. “We need to plan for multiple scenarios and have a game plan for each contingency.”

A BIG NUMBER

1

That number stands for the ‘superpower’ that your organization needs to set it apart from the rest, according to research by McKinsey senior partners Homayoun Hatami, Brad Mendelson, Michael Park, Liz Hilton Segel, and Rodney Zemmel. “Around the world, CEOs are concluding that success in congested, increasingly commoditized markets can be achieved by building a superpower,” they say. This is an institutional capability whereby an organization consistently does something better than its competitors. Six elements go into building such a capability, which could be a functional one—such as sales or supply chain management—or an enterprise-wide strength such as agile decision making, the ability to innovate, or customer centricity .

A QUOTE

‘Risk needs to be part of everyone’s job.’

That’s McKinsey’s Jim Boehm, Jan Shelly Brown , Lama Sabbagh, and Karim Thomas on the importance of aligning everyone in the organization on risk control initiatives. Business units and the risk function tend to be at loggerheads, but as organizations grapple with geopolitical and economic uncertainty, they should consider adopting a unified mindset regarding risk controls. “We’ve found that the best companies establish active collaboration between risk, security, IT, and the business units,” the authors note. “They have a comprehensive understanding of the changes needed at the operating-model, technology, and culture levels, and a coordinated approach to the actions to take and in what order.”

A SPOTLIGHT INTERVIEW

Grass growing through cracks in a concrete footpath

Short-term disruptions may distract companies, but “the long-term direction doesn’t change: the commitment is to net zero,” says McKinsey senior partner Humayun Tai in this podcast on achieving a balance between building resilience and committing to clean energy. Companies may need to adopt a mix of strategies to move closer to this goal, such as tapping into both public- and private-sector funding, investing in sustainable materials, and forming green partnerships. According to McKinsey partner Anna Moore, an essential action for leaders is to be “laser focused on where there truly is market share gain, or green premium to be had, from new, sustainable value pools.” For example, she says, “tooling and machinery companies [are] shifting from serving oil and gas to serving renewables. It’s tweaking the existing asset base to match where the direction of travel is around sustainability.”

STUCK IN TRAFFIC

Death by committee. Paralysis by analysis. These are phrases commonly used to describe situations where actions come to a standstill because of too much debate, persistent disagreement, power plays, or fear of making a wrong turn when economic and business signals are ambiguous. Leaders may need a structured way to break such gridlocks. McKinsey senior partner Aaron De Smet and colleagues suggest a framework called DARE—standing for deciders, advisers, recommenders, and execution stakeholders—that outlines a well-defined path from decision to action. “It can be helpful to involve more people in making a decision—but only when roles are clearly articulated,” they say. “Give more people a voice, but fewer people a vote.”

Lead with action.

— Edited by Rama Ramaswami, senior editor, New York

After nearly 60 years as a print magazine sent mostly to McKinsey’s clients, the McKinsey Quarterly is going digital—and bringing its groundbreaking management and leadership insights to you, a valued McKinsey.com subscriber. Sign up for a free membership to start reading.

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TODAY’S NEWS. TOMORROW’S INSIGHTS.
A daily newsletter from McKinsey & Company

by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 02:41 - 10 Apr 2023

What will it take to close the data gaps in women’s health?

On Point

Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities

Data disparities in women’s health

In the news

•

Talking about taboos. Women’s medical care is rife with biases that affect every part of their lives. Nonetheless, health leaders at a panel in March struck a note of optimism. With stigmatized topics such as menopause and menstruation being discussed more openly, things are changing, says a leader at a US research institute. Another encouraging sign? In 2024, UK medical schools will require students to complete training in women’s health. Still, a dearth of data makes it hard to truly understand wellness in women, the leader added. [Wired]

•

Unconscious beliefs. From discounting pain reported by women to assuming that White patients are likelier to comply with taking medicine, research suggests that hidden biases are all too common in healthcare. Providers’ decisions about treatment and diagnoses are likely influenced by their unconscious beliefs. These often focus on people’s appearance, gender, sexual orientation, and race. By mounting cameras in exam rooms and using AI to analyze doctor–patient interactions, some US researchers are helping to reduce implicit bias. [Science]

Women represent approximately 40% of primary care physicians (PCPs) but nearly 50% of PCPs documenting diagnoses of key women’s health conditions.

On McKinsey.com

•

Blind spots in healthcare data. Health-related data play a key role in delivering care. But despite rapid growth in healthcare data, notable gaps remain in women’s health, McKinsey senior partner Lucy Pérez and coauthors stress. For every one woman diagnosed with a women’s health condition, roughly four go undiagnosed, McKinsey analysis of US insurance claims data finds. Inconsistencies in diagnoses and biases in delivering care generate blind spots in real-world healthcare data sets that undermine understanding of disease states.

•

Documenting diagnoses. Female primary care physicians are disproportionately the physicians diagnosing women’s health conditions such as menopause and polycystic ovary syndrome, according to the claims data that McKinsey examined. Since claims data inform investment decisions in life sciences, blind spots in these data sets may contribute to a perception of less unmet need and less need for continued innovation. Examine opportunities to close gaps in generating, collecting, and analyzing women’s health data.

Improve data in women’s health

— Edited by Belinda Yu, editor, Atlanta

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ยกเลิกการเป็นสมาชิก | นโยบายความเป็นส่วนตัว

by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:13 - 10 Apr 2023

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by "Schneider Electric" <reply@se.com> - 10:00 - 9 Apr 2023

The week in charts

The Week in Charts

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ALL THE WEEK’S DATA THAT’S FIT TO VISUALIZE

Our McKinsey Chart of the Day series offers a daily chart that helps explain a changing world—as we strive toward sustainable and inclusive growth. In case you missed them, this week’s graphics explored scaling climate technologies, vacated office space, the mobility consumer landscape, the ten rules in mapping growth, and the uptick in African digital health start-ups.

FEATURED CHART

Out of office, for three years

Chart of office space net absorption, 2007-21, square feet, million

This week’s other select charts

Scale up, bring emissions down

On the move

Road map to growth

A healthy jump in funding

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FOUR OF OUR BEST NEW IDEAS

by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 11:03 - 8 Apr 2023

What’s your superpower?

The Shortlist

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Curated by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities

Twice monthly, we bring you four new insights out of the dozens we publish that we think are worth a second glance from any business leader in any geography. In this edition, we look closely at CEOs and how they create alpha, explore skinny design, and more. We hope you enjoy the read.

—Liz and Homayoun

What’s new

Last year, our book CEO Excellence introduced you to the world’s best business leaders (and landed on dozens of bestseller lists). Now, a new article brings you up to date on how these CEOs are handling one of the most difficult operating environments in memory. The best in business are spending most of their time on three areas: digital disruption, the macroeconomy, and geopolitics.

Take a look inside the C-suite in Actions the best CEOs are taking in 2023, by Carolyn Dewar, Scott Keller, Vikram Malhotra, and Kurt Strovink.

What’s now

What do those top CEOs have that others don’t? One quality is “CEO alpha”—the ability to create more value than average in their industry. And not just a little more: CEO alpha can be worth up to 16 percent in excess returns annually. Our new research focuses on CEO alpha in private equity, where sponsors employ a lot of CEOs for their portfolio companies. (For more on private markets, see the new edition of our annual report.)

Want to beat beta performance at your company? Read CEO alpha: A new approach to generating private equity outperformance, by Marla M. Capozzi, Sacha Ghai, John Kelleher, and Kurt Strovink.

Silhouette of person wearing blue cape with glowing bars of light behind them

What’s next

Look, up in the air … it’s Superman … it’s Wonder Woman … it’s an analytical pricing capability? Yes, or an imaginative customer experience, or a new supply chain operating model, or you name it. In a word, it’s a superpower: a company’s one great strength that allows it to vault over its competitors.

For concrete tips on how to identify and nourish your organization’s superpower, based on interviews with hundreds of leaders, read What’s your superpower? How companies can build an institutional capability to achieve competitive advantage, a new article by Homayoun Hatami, Brad Mendelson, Michael Park, Liz Hilton Segel, and Rodney Zemmel.

What’s needed

Tired of having to go through three boxes and five pieces of plastic to get to the tiny, single item you actually ordered? You may be in luck. Skinny design—which simply means making product packaging smaller—is having an enormous impact in a wide variety of industries. Smarter packaging can mean less material cost, less shipping cost, and fewer stockouts. But most important, it means much less environmental impact.

For the big picture on skinny design (and a startling new idea about shampoo), check out the new podcast Skinny design: Smaller is better, featuring Dave Fedewa, Lea Kobeli, and Benedict Sheppard.

We hope you find this synthesis helpful. See you in two weeks with four more ideas from McKinsey.

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by "McKinsey Shortlist" <publishing@email.mckinsey.com> - 02:22 - 7 Apr 2023

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by "Sunny Thakur" <sunny.thakur@uffizio.com> - 12:30 - 7 Apr 2023

สัมมนาออนไลน์ : Ecostruxure Specification Tool

Schneider Electric

สอบถามเพิ่มเติม		ดูออนไลน์

Innovation Talk : Ecostruxure Specification Tool

ชไนเดอร์ อิเล็คทริค ขอเชิญเข้าร่วมสัมมนาออนไลน์

หัวข้อ : ใหม่! เปิดตัว Ecostruxure Specification Tool แพลตฟอร์มช่วยออกแบบระบบไฟฟ้า สำหรับการเขียน Tender Specification เพื่อความสะดวกสบาย แม่นยำและประหยัดเวลามากยิ่งขึ้น

ไฮไลท์ :

ทำความรู้จัก Ecostruxure Specification Tool
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by "Schneider Electric" <reply@se.com> - 11:01 - 6 Apr 2023

Typecasting can lead to murky decision making. How can leaders combat it?

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Making better decisions

In the news

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Biased brains. When making decisions, the human brain tends to employ shortcuts that can help people interpret information more quickly. Such cognitive biases, however, might lead to flawed conclusions. For example, the halo effect is a form of social bias that can lead people to unthinkingly accept information offered by those they admire or like. To counter bias, pinpoint your first idea after considering a problem, and analyze the validity of that thought, says one clinical psychologist. [Business Insider India]

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Blind spots in business. Cultural norms, one’s upbringing, and social experiences often generate blind spots in thinking, two UK-based business school professors explain. Unconscious biases factor into many decisions, including who is hired, promoted, or fired. An example is affinity bias, wherein people tend to like those who remind them of themselves. Since decision makers are likely to share an organization’s values and choose to promote them, companies can reduce hidden biases by enshrining diversity as a core value. [Financier Worldwide]

Decision making can be clouded when people attribute others’ actions and motivations to the societal roles that they play.

On McKinsey.com

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Thinking traps. Role theory is a common obstacle to good decision making, McKinsey partner Tim Koller and coauthors share. This concept suggests that most people categorize themselves and others according to socially defined roles. For example, when a CFO recommends divesting an underperforming product line, her colleagues may dismiss her suggestion as classic CFO cost-cutting behavior. This role-based perspective allows them to discount the CFO’s idea out of hand without fairly evaluating its merits.

•

Focusing on facts. Organizations must encourage dissent and make it safe for every individual to share contrarian ideas. If the CFO could separate her idea to divest from her status in the organization, she might be treated more fairly. For example, the CFO could engage colleagues with a range of perspectives to help make objective cases for both investing in the asset and divesting. That could provide a reality check against prevailing perspectives. See more ways to counter bias and put more facts into strategy discussions.

Improve decision making

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