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Meet the Black beauty execs

McKinsey&Company

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Meet the Black beauty execs

Creating a path to a more equitable beauty market for Black brands represents a $2.6 billion opportunity. McKinsey talked to four founders and entrepreneurs who are leading the way.

Take a new direction

Join us for 🎙Webinar: Remote for refugees

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There is still time to register for our next webinar. Register today for free.

🎙 Webinar: Remote for refugees

Date: 20th June

Times: 8:00 AM UTC | 9:00 AM BST | 10:00 AM CET

What will you learn?

Practical insights to help employers and hiring managers find forcibly displaced talent
Benefits of hiring forcibly displaced talent for the employee and the employer
Practical guidance on how to overcome challenges when hiring refugee talent
The state of refugee work rights around the world and the advocacy movement for right-to-remote-work
Announcement about a new platform to help employers find vetted refugee talent

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Peter Maher: Senior Special Operations Manager at Remote
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Lorraine Charles: Co-founder & Executive Director at Na'amal

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by "Remote" <hello@remote-comms.com> - 08:17 - 16 Jun 2022

Control data privacy with logs obfuscation, this month's free online training, and more resources

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by "New Relic EMEA" <emeamarketing@newrelic.com> - 02:49 - 16 Jun 2022

⚠️ Reminder Alert: Only 3 hours left for the upcoming webinar on How AI dash-cams are changing the way fleets get managed?

We are happy to announce that we’ve collaborated with Howen Technologies for another exciting webinar. Expert speakers from Uffizio and Howen Technologies will talk about the role of AI dashcams in the transport industry.

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If you’re in the business of fleet management or simply exploring advanced fleet management solutions—this webinar is for you.

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Agenda of the Webinar

1. Company profiles

2. Why does the transport industry need AI dashcams?

3. How are modern dashcams changing the face of fleet management systems?

4. Howen reveals their new Smart AI dashcams!

5. How do these AI dashcams function on Uffizio’s fleet management software?

6. Question and Answers

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by "Uffizio Technologies Pvt Ltd" <official@uffizio.in> - 02:30 - 16 Jun 2022

Prices are rising; brand loyalty is dwindling. Can retailers rise to the occasion?

McKinsey&Company

On Point | TODAY'S NEWS. TOMORROW'S INSIGHTS

Resilience in retail

In the news

•

Shrinkflation. You’ve probably noticed that groceries and other products are getting pricier. But you may not be aware that package sizes are shrinking, too. To shave costs and avoid price hikes that could hurt sales, companies are turning to “shrinkflation.” Cereal, chocolate bars, soap—anything in a package can be downsized. Some companies say that consumers favor buying cheaper goods, even when sizes are smaller. Shrinkflation is everywhere, but consumers can shop in stores where products are sold by weight or compare prices online. [Bloomberg]

•

Cutting jobs. Retailers are struggling amid high inflation and an excess of inventory. In May, the US retail industry cut more than 60,000 jobs. Big-box stores and grocery stores were among those slashing the number of employees on payrolls. As consumers spend more on services like traveling and going out to eat, many retailers are reporting lackluster earnings. Recalling the supply chain problems that led to empty shelves and shortages late last year, many department stores and warehouse clubs overstocked in early 2022. [WSJ]

The steepest drop in sentiment was among higher-income consumers, who traded up to more expensive brands in 2020 and 2021 but might soon rein in spending.

On McKinsey.com

•

Looking for value. Retailers are squeezed between rising costs and some slowing sales. So far, US household spending hasn’t been meaningfully affected, but there are early signs of a possible pull-back. Consumer confidence slipped in late February, per the latest McKinsey Consumer Pulse Survey. Just 38% of respondents said that they felt optimistic, down from 44% in October 2021. Shoppers are looking for value, with more US consumers reporting switching brands and retailers in 2022 than at any time since the COVID-19 crisis began.

•

How retailers can win. Retail leaders are facing the possibility of persistent inflation. But it’s still possible to respond in a way that retains customers and propels long-term growth. For instance, rather than broadly raising prices, which may erode consumer trust, retail leaders can tailor price increases by customer and product type. Companies that outperform during economic downturns tend to surpass their peers over the decade that follows, McKinsey research shows. See six ways for retailers to address inflation and become more resilient.

— Edited by Belinda Yu

Navigate inflation

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 10:15 - 15 Jun 2022

Accelerating toward net zero: The green business building opportunity

the Daily read

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AN ARTICLE A DAY, PICKED BY OUR EDITORS

Sustainability is top of mind for both consumers and businesses today. And while there is so much to be done to achieve net-zero emissions of greenhouse gases by 2050, the growing demand for zero-carbon technologies could present exciting opportunities to build new green businesses. Now is the time for leaders to act on the growing demand for net-zero offerings, which could generate more than $12 trillion of annual sales by 2030. Get updated on what it will take to see exponential growth, and the seven key principles to scaling green businesses.

— Katherine Tam, digital editor, New York

Accelerating toward net zero: The green business building opportunity

Surging demand for zero-carbon technologies, materials, and services gives companies opportunities to build new green businesses. Leaders that move quickly could see exponential growth.

Forge ahead

Quote of the Day

“If you take many of the sustainability-induced projects, they are no longer what I would call pure technical projects. . . . So the complexity is just significantly increasing and will require much more rigorous and sophisticated stakeholder management.”

—Christoph Schmitz, McKinsey senior partner on the increased complexity of managing an influx of capital in a recent episode of The McKinsey Podcast

Chart of the Day

See today’s chart

Also New

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Category management’s next horizon: How distributors can outperform

As prices and customer expectations rise, category management separates distribution leaders from laggards.

Get the scoop

The future of African oil and gas: Positioning for the energy transition

With momentum for sustainability building, Africa’s oil and gas producing nations have a unique opportunity to embark on an inclusive energy transition and chart a course toward a sustainable future.

Look ahead

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. Second in a series of India Ahead conversations with visionaries, future builders and thought-leaders on what it will take to drive India’s growth over the next 25 years.

Transform the mindset

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:54 - 15 Jun 2022

The space economy: Exploring new frontiers

McKinsey Quarterly

The future of the space economy

Space tourism is just the start. Future forays could expand from a “space for Earth” economy to a “space for space” economy.

Get your briefing

Some industries could benefit greatly in the space economy, capturing billions in value.

Exhibit of forecasted annual revenue at maturity of selected industries if they collaborate with space companies

Get into orbit

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by "McKinsey Quarterly Five Fifty" <publishing@email.mckinsey.com> - 02:29 - 15 Jun 2022

1 Day Left for the Free Webinar on How are AI dash cams transforming transport management systems? Register Now for Free!

We are happy to announce that we’ve collaborated with Howen Technologies for another exciting webinar. On 16th June 2022, expert speakers from Uffizio and Howen Technologies will talk about the role of AI dashcams in the transport industry.

Tune in with us and learn more about how AI dashcams are changing the face of transport management systems. See how artificial intelligence is affecting fleet management operations.

If you’re in the business of fleet management or simply exploring advanced fleet management solutions—this webinar is for you.

Agenda of the Webinar

1. Company profiles

See what Uffizio and Howen Technologies have to offer you.

2. Why does the transport industry need AI dashcams?

Let's speculate why AI dashcams have become so important in the transport sector. The risk of accidents, the rising cost of vehicle repairs, and pricey insurance premiums are just a few reasons to get you started.

3. How are modern dashcams changing the face of fleet management systems?

ADAS and DMS have raised the standards of safety. They have changed the way drivers get assessed and monitored. We’ll discuss how AI dashcams can enhance video telematics—in a way that benefits all involved parties.

4. Howen reveals their new Smart AI dashcams!

What makes Howen’s new dashcams so smart? Let’s find out together!

5. How do these AI dashcams function on Uffizio’s fleet management software?

You need a fleet management system to store, analyze, and understand the data generated by Howen’s AI dashcams. See how Uffizio’s platform can help you make the most out of your dashcams.

6. Question and Answers

Our speakers will take questions from the audience and answer them in this segment.

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by "Uffizio Technologies Pvt Ltd" <official@uffizio.in> - 02:44 - 15 Jun 2022

Don't miss! Meet Schneider Electric Industry Leader at IDC CIO Summit 2022 ASEAN

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Don't miss your chance to meet our Schneider Electric Industry Leader at IDC CIO Summit 2022 ASEAN

It is with great pleasure that we invite you to join us at the virtual IDC CIO Summit 2022 ASEAN.

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Where

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by "Schneider Electric" <reply@se.com> - 12:01 - 15 Jun 2022

What’s the biggest fear holding us back from being innovative at work?

McKinsey&Company

Fear and innovation

In the news

•

Hidden tensions. Success can be elusive when it comes to innovation. About three-quarters of new product launches fail. Such failures are often blamed on bad luck, or a shortage of talent or money. But the true causes are tensions arising from dynamic work settings, according to academic research. If mismanaged, these tensions can damage organizations. For instance, leaders should know when it is better to be disciplined versus flexible. It’s often better to be disciplined when selecting the right opportunity, but executing it calls for greater flexibility. [MIT]

•

Rethinking uncertainty. When early humans came across a cave, that could have meant they found a safe place to rest or, if a predator was hiding in that cave, just the opposite. To keep us alive, the brain interprets not knowing as threatening. That’s why uncertainty can feel scary. The brain’s bias for certainty is so strong that it makes up stories to provide closure. But when we prematurely fill in the blanks, we can oversimplify complex issues. Accepting uncertainty, however uncomfortable, allows us to be open to new ideas. [Quartz]

We were intrigued to find that the fear of career impact emerged as the biggest differentiator between those who work at top innovation companies and others.

On McKinsey.com

•

Three fears. Innovation is critical to growth. But fear can stop experimentation in its tracks, leading to less creativity and less ambitious ideas. To learn how organizations successfully create a culture of innovation, McKinsey surveyed and interviewed executives who lead innovative projects around the world. The top three fears holding back corporate innovation were fear of criticism, fear of uncertainty, and fear of negative impact on one’s career, McKinsey research found. Yet nine out of ten companies are doing nothing to relieve these fears.

•

Embolden employees. Executives at the leading innovators say that their workplaces are filled with positive energy and enthusiasm. Helping colleagues move past fear isn’t easy, but it’s necessary for companies to build a true culture of innovation. By providing employees with psychological safety, a purpose that prizes innovation, and recognition and rewards, organizations can embolden employees to be willing to risk failure. Explore five fundamentals of innovation culture and how top innovators nurture creative ambition.

— Edited by Belinda Yu

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 10:28 - 14 Jun 2022

Probing reality and myth in the metaverse

the Daily read

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AN ARTICLE A DAY, PICKED BY OUR EDITORS

Are you ready to dive into the metaverse? Whether you’re a proponent or a skeptic, chances are, you are already engaging in some form of the metaverse in your daily lives through immersive devices and experiences. While there is so much information about what it is, what it is not, who it is for, and how it is used, it is clear that consumers will be the driving force in its evolution, according to a new article. Get updated on the current consumer sentiment about the metaverse plus the six myths, and be prepared for the future.

— Joyce Yoo, digital editor, New York

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Probing reality and myth in the metaverse

Despite some skepticism, our recent insights show that Americans of all ages are ready to embrace the metaverse.

Grasp the discrepancies

Quote of the Day

“I’ve always been a big believer that people don’t experience your values; they experience your behaviors. They experience the way things happen, implicitly and explicitly, inside an organization. That defines the smell of the place—the culture of an organization.”

—Rishad Premji, executive chairman of Wipro, on the company's cultural transformation in “Inside Rishad Premji’s quest to create a high-performing culture at Wipro”

Chart of the Day

Chart of reasons why shoppers purchase dairy products

See today’s chart

Also New

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Black representation in the beauty industry

Black beauty consumers and brands face deep challenges when it comes to equity. Removing those barriers can lead to greater opportunity for everyone in the industry.

Flip the script

Growth sprouts for SMEs in e-commerce

Small and medium-size enterprises (SMEs) can capture a share of Europe’s booming online home-and-garden market—if they fine-tune customer insights and build new capabilities.

Build new capabilities

Author Talks: How to build a damn good business

Business guidance can hinge on an assumption of existing financial access, making the advice irrelevant to budding entrepreneurs with less privilege. Kathryn Finney seeks to level the playing field.

Make it fair

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:49 - 14 Jun 2022

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Level up your Kubernetes observability with New Relic

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Use a guided install for Kubernetes to instrument your cluster
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Use Terraform to automate the creation of the Kubernetes NRQL alerts above.

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by "New Relic" <emeamarketing@newrelic.com> - 03:37 - 14 Jun 2022

Learn More About Software Quality Market Trends from IDC Research Director [Webinar Invite]

Hey Abul!

If you missed our last email, you may have missed our exciting updated on our newest webinar "Leveraging Automated Software Quality to Optimize Applications and Business."

Join us on June 14th in this informative session where we’ll explore key findings from the recent IDC MarketScape research on Automated Software Quality and Continuous Testing.

Highlights include:

How shifting left approaches are pulling quality earlier into development to enhance relevance, and responsiveness, time, and expense
How AI and smart analytics are shaping the future of testing through automation, self-healing, and autonomous testing.
How to establish effective continuous testing and quality strategies that encompass new and evolving development approaches like cloud-native and no-code/low-code.

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by "Cynthia Gumbert" <cynthia@smartbearmail.com> - 01:31 - 14 Jun 2022

How are Americans feeling about the economy?

McKinsey&Company

Reflecting on the US economy

In the news

•

Turbulent times. Some financial experts are warning that the US economy could plunge into a recession in the next year, despite the current strength of the job market and robust consumer demand. Economists are worried about rising costs to borrowers, which they fear could lead to a sudden decrease in spending. The increasing cost of gas and commodities from the war in Ukraine and supply chain issues related to the COVID-19 pandemic have increased anxieties over a potential downturn. [WaPo]

•

Prices climb higher. Annual inflation ticked down slightly in April, but other key measures remained worrisome. The consumer price index increased at a brisk 8.3% in April. Core inflation—which policy makers consider an important barometer that helps to predict where inflation is headed—increased 0.6% in April, a speedier pace than its 0.3% increase in March. Services prices are also rising, as industries offer higher wages in response to shortages of workers. [NYT]

Across almost every demographic, income level, and age group, more respondents believe the US is doing a poor job of providing opportunities for all people.

On McKinsey.com

•

Mounting pessimism. Many Americans consider economic opportunity to be increasingly out of reach, despite rising wages, a sizable pick of jobs, and a low unemployment rate, according to McKinsey’s American Opportunity Survey. Across nearly every demographic group, Americans are more pessimistic than they were in two surveys from 2021. In March–April 2022, optimism dipped 5% lower when compared with a survey from six months ago and 3% lower than in a survey conducted a year ago.

•

Dwindling opportunities. More Americans reported having fewer economic opportunities than they did a year ago and said they expect even fewer opportunities in a year and five years from now. However, there were also bright spots: younger people (aged 25 to 34) had the most positive outlook of all age groups. Among these respondents, optimism was higher across all racial and ethnic groups, and highest among college graduates, higher-income earners, and those living in urban areas.

— Edited by Katrina Parker

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 10:06 - 13 Jun 2022

Black representation in the beauty industry

the Daily read

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AN ARTICLE A DAY, PICKED BY OUR EDITORS

Black Americans are a major force in the beauty industry. They are responsible for over 11 percent of the total beauty market in the US and spent over $6 billion on beauty products last year. Despite this spending power, however, the industry is rife with inequity—there’s limited resources and funding available for Black beauty brands and entrepreneurs, and Black consumers struggle to find quality products or see themselves represented in ad campaigns. This is a missed opportunity worth $2.6 billion, according to McKinsey research. Take a deep dive into the findings and see how investing in the Black beauty industry could lead to greater equity across the board—for shoppers, entrepreneurs, large beauty houses, retailers, and investors.

— Joyce Yoo, digital editor, New York

Black representation in the beauty industry

Black beauty consumers and brands face deep challenges when it comes to equity. Removing those barriers can lead to greater opportunity for everyone in the industry.

Flip the script

Quote of the Day

“It’s about going into that room and making everyone believe you are the coolest person they met that day for the sheer fact that you are probably vastly different than what they see on a daily basis. . . . You come in with that, and it helps you maintain that strength and that belief in yourself.”

—Kathryn Finney, founder and managing partner of the venture fund Genius Guild, on maintaining a sense of self-worth amid setbacks in a recent Author Talks interview

Chart of the Day

See today’s chart

Also New

Semiconductor shortage: How the automotive industry can succeed

As the semiconductor shortage persists, the automotive industry will likely benefit from new sourcing models and stronger bonds between OEMs, Tier 1 suppliers, and semiconductor suppliers.

Understand the challenges

Asian woman with shopping bags and mask on mobile phone

Catering to Asian consumers

The latest Consumer Pulse Survey reveals an optimism unmoved by current economic and geopolitical challenges, though sentiment may be shifting. How can retailers and consumer goods companies keep pace?

Keep pace with sentiment

What are the biotech investment themes that will shape the industry?

From 2019 to 2021, venture capitalists plowed $35 billion into biotech companies with advanced platform technologies that could transform the industry.

Accelerate the impact

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:50 - 13 Jun 2022

3 Days Left for the Free Webinar on How are AI dash cams transforming transport management systems? Register Now for Free!

We are happy to announce that we’ve collaborated with Howen Technologies for another exciting webinar. On 16th June 2022, expert speakers from Uffizio and Howen Technologies will talk about the role of AI dashcams in the transport industry.

Tune in with us and learn more about how AI dashcams are changing the face of transport management systems. See how artificial intelligence is affecting fleet management operations.

If you’re in the business of fleet management or simply exploring advanced fleet management solutions—this webinar is for you.

Agenda of the Webinar

1. Company profiles

See what Uffizio and Howen Technologies have to offer you.

2. Why does the transport industry need AI dashcams?

Let's speculate why AI dashcams have become so important in the transport sector. The risk of accidents, the rising cost of vehicle repairs, and pricey insurance premiums are just a few reasons to get you started.

3. How are modern dashcams changing the face of fleet management systems?

ADAS and DMS have raised the standards of safety. They have changed the way drivers get assessed and monitored. We’ll discuss how AI dashcams can enhance video telematics—in a way that benefits all involved parties.

4. Howen reveals their new Smart AI dashcams!

What makes Howen’s new dashcams so smart? Let’s find out together!

5. How do these AI dashcams function on Uffizio’s fleet management software?

You need a fleet management system to store, analyze, and understand the data generated by Howen’s AI dashcams. See how Uffizio’s platform can help you make the most out of your dashcams.

6. Question and Answers

Our speakers will take questions from the audience and answer them in this segment.

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by "Uffizio Technologies Pvt Ltd" <official@uffizio.in> - 08:30 - 13 Jun 2022

Sangoma Webinar: Sangoma’s new P- Series phone range for all your PBX & UC solutions

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by "Sangoma Technologies" <webannounce@sangoma.com> - 03:01 - 13 Jun 2022

Getting digital transformation right: A leader’s guide

Leading Off

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ESSENTIALS FOR LEADERS AND THOSE THEY LEAD

According to a popular meme, it isn’t the CEO or the CTO who is leading digital transformation at most companies—it’s COVID-19. The pandemic accelerated digital transformation at a speed once thought impossible: in a matter of months, companies worldwide adopted digital technologies that normally would have taken three to seven years to implement. By mid-2020, some organizations had sped up the development of digitally enhanced products and services by a stunning ten years. Although many companies adopted digital technologies in some form or other decades ago, only in recent years has digital transformation become a critical component of organizational health. The process can include anything from automating manual tasks to moving in-store sales online to delivering better customer experiences. It’s therefore important to become digitally savvy, no matter what your role is in a digital transformation effort. This week, let’s explore some best practices.

AN IDEA

Ensure deep involvement from leadership teams

While technology alone can’t guarantee the success of a digital transformation, it is becoming a crucial competitive advantage. More than half of respondents to a McKinsey global survey say that their companies rely on technology to strategically differentiate themselves from competitors. Top performers are ahead of their peers on key digital-technology capabilities and are nearly twice as likely to have technology leaders who shape overall strategy and play a major role in innovation and product development. The best performers are more than twice as likely as the lowest performers to have at least seven top leaders overseeing the technology-related thinking for their organizations. The growing importance of digital signals an urgent need for all leaders in an organization to understand and engage with technology, even if their roles did not call for this in the past.

A BIG NUMBER

10

Many things can go wrong in a digital transformation, but these ten pitfalls are particularly damaging to its success. Not surprisingly, most of them have to do with fundamental strategic blunders, such as lack of discipline and focus, moving too slowly or too fast, underestimating the talent needed, and—a proven recipe for failure—not learning from mistakes. Once a digital transformation project is under way, it’s essential for senior leaders to monitor its progress by checking digital metrics, especially key markers such as return on investment, spending on technology, and time to market. And if the transformation stalls, improving its economic model can keep the momentum going.

A QUOTE

“It’s best to start with a concentration in a particular area rather than sprinkle a little bit of digital or a handful of analytics use cases broadly across the organization.”

That’s just one rule of thumb that McKinsey’s Rodney Zemmel offers up in this podcast on how leaders can assess the transformative value of a digital business. Don’t spread your efforts too thin; rather, increase your odds of success by limiting digital initiatives to a single area at first before extending them to other parts of the organization. Another rule of thumb is to make sure that the transformation is big enough: it may not have much value if its economic impact is less than 15 or 20 percent of an organization’s earnings before interest, taxes, depreciation, and amortization. “If you’re not targeting at least 15 or 20 percent, in our mind it’s hard to call that a transformation and to sustain the level of organizational focus around it,” Zemmel says.

A SPOTLIGHT INTERVIEW

“When it comes to seeing a digital transformation through, you have to be practical,” says Alain Bejjani, CEO of Majid Al Futtaim, a global retail and lifestyle conglomerate. “This means you need to have one eye on the telescope—an ambitious vision—and the other eye on the microscope, which are the short-term developments where you have to adapt as you go.” In this interview with McKinsey, Bejjani discusses the critical role that leaders play in achieving this balance. Although short-term results are important to management teams, leaders must take the long view and serve as role models, inspiring and motivating people by creating a learning culture, investing in skill development, and changing course as needed to meet long-term objectives. “It’s important to avoid ‘transformation fatigue,’” Bejjani says. “Sometimes the actions that have had transformative results in the past don’t work as well in the future, or at a larger scale.”

PARTLY CLOUDY

Contrails from an airplane on blue skies

Can’t tell MLOps from qubits? Now may be a good time to enhance your tech vocabulary. Machine-learning operations, quantum computing, additive manufacturing, and edge computing are just a few of the advanced technologies that will transform businesses across industries and sectors. Companies are already investing heavily in cloud computing to improve their operations. Without an understanding of the impact of emerging technologies, leaders can’t make informed business decisions. Yet only 7 percent of large companies have digitally savvy executive teams, according to a global survey; those that do outperform companies without such teams by more than 48 percent based on revenue growth and valuation.

Lead digitally.

— 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> - 01:06 - 13 Jun 2022

David Gergen tells the boomers leading the US, “It’s time to move on”

McKinsey&Company

Passing the torch

In the news

•

Benching old-timers. Some of the most influential US leaders have the same thing in common, declares former presidential advisor David Gergen: they’re too old. Gergen says the baby boomer generation (and their elders) should stop trying to hold onto power and step aside so that young people—including an impressive cohort of veterans and Black women—can lead. An 80-year-old himself, Gergen says the US Executive Office of the President requires a younger, sharper mind. [PBS]

•

A moral crisis. The US faces a moral crisis that demands the talent of young people, says Gergen. Younger generations are hungry for tough, character-forming leadership experiences, as seen with young activist leaders fighting for changes in the environment and civil rights, he adds. Character, capability, and courage are leadership essentials, yet too many students plan to work in the private sector. We need to offer up public service “in a very big way,” says Gergen. [CBS News]

“What I see in the younger generations is real promise. They have a steel in them, they have an inner discipline, and they care greatly about the country.”

On McKinsey.com

•

New problem solvers. In an interview with McKinsey, David Gergen, who is also a CNN senior analyst and founding director of the Harvard Kennedy School’s Center for Public Leadership, discusses his new book, Hearts Touched with Fire: How Great Leaders Are Made. Gergen contends that the problems facing the US today—including the economy, racial inequalities, and climate issues—require a fresh, dynamic form of leadership. Young Americans show grit and idealism and should be encouraged to enter the political arena, Gergen says.

•

Harness the power of youth. Gergen believes that the US needs a national service program that would allow young people to work for their communities for a year in exchange for relief from college debt. Businesses can strengthen up-and-coming generations by committing to creating more jobs for people of color. But most of all, older leaders need to recognize when it’s time to step aside and offer the support and counsel the next generations need to eventually take over.

— Edited by Katy McLaughlin

Empower youth

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:41 - 13 Jun 2022

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