Why investing in nurses pays off in excellent patient care

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Our best ideas, quick and curated | June 3, 2022

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This week, we look at why high quit rates for nurses may imperil high-quality healthcare. Plus, new sources of lithium mining can help keep the electric-vehicle market moving, and how the war in Ukraine has caused 12 disruptions around the world.

Care crisis. If you or a loved one have ever spent time in a hospital, you know the power of nurses to provide expertise and give comfort. But who is giving comfort to nurses, whose ranks have been stretched thin throughout the COVID-19 crisis? Over the past two years, McKinsey has found that nurses consistently, and increasingly, report planning to leave the workforce at rates higher than in the past decade.

Supply–demand imbalance. Before the pandemic, the number of new nursing licenses in the US continued to grow at around 4 percent per year, infusing the nursing workforce with fresh talent to replace those who retired. In the latest McKinsey survey of healthcare professionals, 29 percent of registered nurses in the US (consistent with numbers in France, Japan, Singapore, and the UK) indicated that they were likely to leave their current role in direct patient care, with many saying they intended to leave the workforce entirely. This attrition rate, while bad for the nursing profession, also has broad implications for the overall US healthcare sector, which is already grappling with the challenges of caring for an aging population with an increasing number of chronic care needs.

A growing gap. Earlier in 2022, 90 percent of COVID-19 Hospital Insights Survey respondents said workforce shortages were a barrier to addressing the increasing elective-surgery volume, up 11 percentage points from 2021. By 2025, McKinsey estimates that the US may have a gap of between 200,000 to 450,000 nurses available for direct patient care, equating to a 10 to 20 percent gap. To meet this demand, the US would need more than double the number of new graduates entering and staying in the nursing workforce every year for the next three years straight.

Support on the front lines. While nurses respond to compensation as a factor in remaining in their positions, they say doing meaningful work is crucial. Factors such as feeling engaged by work and maintaining good health are also top drivers in surveyed nurses’ decisions to stay. What else would retain nurses? A McKinsey Frontline Workforce Survey in March 2022 revealed that nurses who had left direct patient care said a more manageable workload, increased total compensation, ability to take time off, and being more valued by an organization would be the most important factors they would consider when evaluating a return.

There is no one-size-fits-all solution to the challenges of being a nurse. However, key stakeholders, such as healthcare providers, could focus on leadership support and better workforce planning and deployment. Positive leadership initiatives—such as directors doing rounds to show their support—have been correlated with higher retention, reduced medical errors, and administrative efficiency. If no actions are taken, there will be more patients in the US who will need care than there will be nurses available to deliver it. That’s a position that benefits no one. In the long run, investing in nurses is also an investment in patient care.

OFF THE CHARTS

Minding the gap in the lithium-mining map

Lithium is the driving force behind electric vehicles, but will its supply keep pace with demand? New technologies and sources of supply can fill the gap. Currently, almost all lithium mining occurs in Australia, China, and Latin America, which account for a combined 98 percent of production in 2020. An announced pipeline of projects will likely introduce new players and geographies to the lithium-mining map. This reported capacity base should be enough for supply to grow at a 20 percent annual rate to reach over 2.7 million metric tons of lithium carbonate equivalent by 2030.

Check out our chart of the day here.

Photo of Arundhati Bhattacharya, CEO of Salesforce India

INTERVIEW

Approach every situation with ‘a learner’s humility’

When Arundhati Bhattacharya retired as chairwoman of the State Bank of India in 2017, many observers thought her corporate journey had reached its end. But a few years into retirement, Bhattacharya became the CEO of Salesforce, India. Her move marked the beginning of a new professional chapter on several fronts: a shift from the public sector to the private sector, from banking to technology, and from a legacy Indian institution to an American software company. Yet, Bhattacharya has always believed that lifelong learning is the key to success. “When I think of the future, I see people having multiple careers,” she told McKinsey in a recent interview. “People will have to unlearn, relearn, and be on a learning curve for a very long time—in fact, for as long as they work.”

Unlocking the value of human capital

the Daily read

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AN ARTICLE A DAY, PICKED BY OUR EDITORS

Human capital—the strength of all the collective knowledge, attributes, skills, experience, and health of its workforce—is the most vital resource for any organization or economy. Individuals accumulate human capital throughout their working lives, and taking on new roles helps them become upwardly mobile. In fact, work experience can contribute to 40-60 percent of the average individual’s lifetime earnings. But making bold moves that stretch a worker’s potential is not possible unless employers take a chance on hiring them and provide opportunities. Don't miss a new report on how to unlock the power of your people. And to learn more about the research, be sure to register for a virtual event on June 15.

— Sarah Skinner, digital editor, New York

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

Quote of the Day

“We found that women are not doing [nonpromotable] work because they really enjoy it or care more about doing the work. . . . Rather, it’s because we all have the expectation that women will do this work. That collective expectation is held by managers and people who are asking them to do this work. ”

—Lise Vesterlund, director of the Pittsburgh Experimental Economics Laboratory in a new Author Talks interview

Chart of the Day

See today’s chart

Also New

Innovation sourcing in biopharma: Four practices to maximize success

Biopharma companies’ pipelines are full of assets they source externally to access innovation. Four practices will help ensure their investments flourish at a time of fierce competition.

Understand pharmaceutical innovations

Addressing unequal opportunity in an American city

Spatial inequality limits opportunities for millions of Americans. How can companies leverage their unique positions to promote sustainable, inclusive growth in the communities they call home?

Build a better future

How banks can reimagine lending to small and medium-size enterprises

If banks reimagine and modernize their business-lending processes, they can take advantage of new opportunities with SMEs and capture more of the forecast growth.

Take a new approach

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 05:07 - 2 Jun 2022

Forward Thinking on measuring the value of the digital age with Avinash Collis

McKinsey&Company

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New from McKinsey Global Institute

Forward Thinking on measuring the value of the digital age with Avinash Collis

Born in India and now a professor in Texas, Avinash Collis talks about his work on creating a data dashboard that will enable us to measure the true value of the digital age.

Innovate the process

Explore this and future episodes of the McKinsey Global Institute’s Forward Thinking podcast on our site, and subscribe to ensure you never miss a new one. Subscribe via Apple Podcasts, Google Podcasts, Spotify, Stitcher, and Amazon Music.

Nine industries could lead the way toward a net-zero future. Here’s how.

McKinsey&Company

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

A net-zero world

In the news

•

Buying green. An alliance of around 50 businesses has committed to buying green materials, such as low- or no-carbon steel, by 2030. At the World Economic Forum Annual Meeting in Davos, Switzerland, the First Movers Coalition—a group whose members are collectively valued at more than $8.5 trillion—announced that it seeks to cut emissions in heavy industry by investing in climate tech and creating a market for environmentally friendly materials, such as low-carbon cement. Aluminum, aviation, cement, chemicals, and steel today make up about 30% of the world’s emissions. [NYT]

•

Hydrogen hubs. Climate scientists think that clean hydrogen could become an important source of zero-emission energy in industries that typically depend on fossil fuels. That’s why “hydrogen is crucial” in the fight against climate change, according to one professor and climate change researcher. But making hydrogen in a clean and cost-effective way has so far been difficult. The US Bipartisan Infrastructure Law, passed in 2021, funnels $8 billion to establish hydrogen hubs to generate, store, and use clean hydrogen. [NPR]

Over the past decade, the costs of renewables have dropped substantially (solar power by as much as 80%), making them competitive with conventional fuels.

On McKinsey.com

•

Nine key industries. Decarbonizing emission-intensive industries may be challenging, but McKinsey research shows that solutions are within reach. Nine key industries—power, oil and gas, automotive, aviation and shipping, steel, cement, mining, agriculture and food, and forestry and land use—could lead the way to a net-zero economy. More than 50% of the world’s power could come from renewable sources (such as solar, hydro, and wind) by 2035, McKinsey analysis finds.

•

Transformation ahead. Electric-vehicle sales, along with planned production of low-emission cars, are surging. McKinsey estimates that virtually all new passenger vehicles sold in China, the EU, and the US will be electric by 2035. But getting to that point will take some effort: companies (and car owners) will need new supply chains, manufacturing know-how, and infrastructure, such as charging stations and hydrogen-fueling sites. That’s just one example covered in McKinsey’s net-zero guide for nine critical industries.

— Edited by Belinda Yu

See paths to net zero

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:14 - 2 Jun 2022

Addressing employee burnout: Are you solving the right problem?

the Daily read

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AN ARTICLE A DAY, PICKED BY OUR EDITORS

Did you know that nearly one in four employees globally report experiencing symptoms of burnout? While unprecedented resources are being invested in wellness programs, findings from a recent McKinsey Health Institute global survey suggest employers are underestimating the critical role of the workplace in reducing burnout. Across 15 countries, toxic workplace behavior was the biggest predictor of burnout symptoms and intent to leave. So what can employers do? A new article outlines actions to address the issue, as part of a McKinsey Health Institute flagship initiative to convene leading employers globally around the urgent priority of mental health. You don’t want to miss it.

— Emily Adeyanju, digital editor, New York

Addressing employee burnout: Are you solving the right problem?

Employers have invested unprecedented resources in employee mental health and well-being. With burnout at all-time highs, leaders wonder if they can make a difference. Our research suggests they can.

Battle burnout

Quote of the Day

“To me, fundamentally, inclusive growth is about creating agency within people’s lives so that they have the ability to make the best decisions for themselves and their families”

—Lata Reddy, senior vice president of Inclusive Solutions at Prudential Financial, on sustainable and inclusive growth in a new episode of the Future of America podcast

Chart of the Day

See today’s chart

Also New

What will it take to boost Latino economic power?

McKinsey research reveals interventions that can help boost Latino participation in the US economy and strengthen the nation’s economic performance overall.

Listen and support

Author Talks: Flex your ‘no muscle’

Nonpromotable work profoundly affects women’s careers and lives. In her new book, Lise Vesterlund explains why women so often agree to it—and how they can say no.

Set boundaries

How inflation and the conflict in Ukraine are impacting European consumers

The latest Consumer Pulse survey shows that, across Europe, people have changed their habits and adopted new behaviors in response to new stressors.

Understand regional views

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 05:14 - 1 Jun 2022

Here's the UC Productivity Report you requested.

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by "Sangoma Technologies" <webannounce@sangoma.com> - 01:38 - 1 Jun 2022

Anxiety can be good for you—really

McKinsey&Company

Everybody hurts

In the news

•

Fearful. Is fear something to be completely avoided? Or is it perhaps a useful tool in this game called life? Definitely the former, says one professor of psychology, who compares not listening to our fears with not listening to pain: you can risk getting injured if you don’t feel the sensation. It’s not about whether your fears are rational. The big question those working through fear should ask themselves is if it’s proportional to the real-life threat. In other words: Does this particular fear matter in your daily life? [NYT]

•

Fearless. Worldwide anxiety and depression increased by 25% because of the COVID-19 pandemic, WHO reported in March. At work, anxiety and depression can manifest as not just stress but fear, multiplied by pandemic-induced situations over which we have little to no control. Ever-present anxiety can lead to burnout, depression disorders, and panic attacks. But understanding what’s causing your fear can help you come up with potential solutions and discern what influence you may have to effect change. [FT]

“How does anxiety help you? To see possibilities. Anxiety is that feeling that there is a possibility of possibilities.”

On McKinsey.com

•

Good for you. Anxiety isn’t a malfunction, says Tracy Dennis-Tiwary, professor of psychology and neuroscience and founder of Wise Therapeutics. Nor is it an automatic signal that something is terribly wrong. While anxiety has been a ubiquitous experience during the COVID-19 pandemic, it’s still misunderstood. She believes it’s in need of rebranding as a helpful, potentially transformative function of being human that allows us to create, be creative, and find meaning and purpose.

•

Though it can feel bad. In McKinsey’s latest edition of Author Talks, Dennis-Tiwary discusses her new book Future Tense: Why Anxiety Is Good for You (Even Though It Feels Bad) and how we can reframe our relationship with anxiety. Mental-health professionals, she believes, have unintentionally communicated harmful information about anxiety. Dennis-Tiwary proposes a different, healthy mindset about anxiety—including treating it as helpful “information, not a failure of happiness.”

— Edited by Justine Jablonska

Make anxiety your ally

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:16 - 1 Jun 2022

Saying no could help advance your career

the Daily read

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AN ARTICLE A DAY, PICKED BY OUR EDITORS

When was the last time you were asked to take on nonpromotable work? These are tasks, often done behind the scenes, that help the organization but don’t help advance your career. Unsurprisingly, women take on the bulk of nonpromotable tasks because there’s an expectation that they will do the work—which makes managers more likely to make these requests. This cycle is an organizational problem that not only hurts women’s careers but is also detrimental to the organization’s productivity and profitability, argues Lise Vesterlund, Pittsburgh Experimental Economics Laboratory Director, in a new Author Talks interview. Be sure to check it out and see how saying “no” can help advance gender equality.

— Katherine Tam, digital editor, New York

Author Talks: Flex your ‘no muscle’

Nonpromotable work profoundly affects women’s careers and lives. In her new book, Lise Vesterlund explains why women so often agree to it—and how they can say no.

Set boundaries

Quote of the Day

“For Latinos, the concept of the American dream is ingrained in who they are, and this idea that the children do better than their parents. And when we were looking to see if the facts support this, what we see is that Latinos in general have rates of intergenerational mobility that are comparable to those of the White population.”

—Lucy Pérez, McKinsey senior partner, on boosting Latino economic power in a new episode of The McKinsey Podcast

Chart of the Day

See today’s chart

Also New

Outgoing New Zealand Rugby President Bill Osborne on strategy and leadership

The outgoing president of New Zealand Rugby discusses how his Maori background and time playing for the All Blacks have shaped his business career.

Learn from a leader

Black and white photo of two women smiling at each other

Employers look to expand health benefits while managing medical costs

A survey of US employers reveals their strategies and approaches for designing appealing health benefits packages and managing costs.

Discover employer strategies

Graphic of some balls rolling down a track

Bias Busters: When the crowd isn’t necessarily wise

Leaders need to recognize herd mentality when it happens—and explore the contrarian view to help break the spell.

Make bold moves

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:16 - 31 May 2022

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by "Intel Corporation" <intel@plan.intel.com> - 02:00 - 31 May 2022

What the best CEOs do to lead a successful digital transformation

McKinsey&Company

Change for the better

In the news

•

Getting ahead in the cloud. Executives say that the constant pressure to operate faster and to expand their businesses is leading them to spend more of their budgets on cloud computing. Advanced software applications such as AI, Internet of Things, and business intelligence—which, for many companies, became necessary during the pandemic—consume large amounts of processing power, nudging up cloud expenses. Globally, businesses are projected to spend nearly $500 billion on cloud capabilities in 2022, a 20% hike over last year. [WSJ]

•

Beyond tech trends. With the onset of the COVID-19 crisis came a flood of digitization efforts across industries. But how do you get from the “valley of tears” (a time after the trendy new tech is adopted but actual business value is unclear) to the “plateau of productivity” (where there’s meaningful change)? One expert says to view digitization as a change in business model rather than in technology. Using a tool called the business model canvas can help leaders break down the different parts of a business and establish a baseline against which to measure change. [HBR]

“The point of digital transformation isn’t to become digital. It’s to generate value for the business.”

On McKinsey.com

•

A marathon, not a sprint. To undertake a successful digital transformation, companies need to define what “good” really looks like, says McKinsey’s Kate Smaje. “There isn’t a point in time when digital transformation is done,” suggests Smaje. “It’s more about, ‘How am I building a real muscle for the organization to continue getting better?’” One common mistake that can put success out of reach: every leader follows their own digital road map instead of having one clear set of priorities for the entire organization, adds senior partner Rodney Zemmel.

•

The metrics that matter. How can a business measure what’s working in a digital transformation? Clearly defined metrics are a start, and it’s best to look beyond operational and financial objectives (although those are, of course, important). For instance, companies can determine if decisions are being made faster, capabilities are improving, and the culture is being transformed. Listen to this episode of The McKinsey Podcast to learn three guidelines for getting the most value from digital initiatives.

— Edited by Sarah Thuerk

Start your digital journey

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:10 - 31 May 2022

A leader’s guide to better brainstorming

Leading Off

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ESSENTIALS FOR LEADERS AND THOSE THEY LEAD

The concept of brainstorming has been around for decades. Originally introduced in the marketing world more than 80 years ago, it has since become a universal collaborative process for businesses everywhere. At its core, brainstorming is a useful way for teams to participate in group idea generation, but the approaches to it have diverged—especially in the wake of new ways of working, including hybrid models. This week, let’s explore ways to improve your brainstorming sessions and the likelihood that they will generate innovative, valuable ideas.

AN IDEA

Illustration symbolizing various brainstorming techniques

To boost your brainstorming, ask better questions

Does your team dread brainstorming sessions or find itself hitting creativity roadblocks? The good news is that there are ways to break out of the rut of traditional brainstorming techniques and renew energy, productivity, and even excitement about the process. To start, make sure that you’re asking the right questions—ones that encourage new perspectives on the problem at hand while staying within the parameters of suitable exploration. Try conducting “question bursts,” in which the group brainstorms more questions rather than answers. Coming up with as many open, descriptive questions as possible prevents groupthink, challenges assumptions, and illuminates uncharted paths to potential solutions. Research also shows that creative juices flow better when the left and right hemispheres of the brain collaborate, mixing logic with imagination. To spark communication between the two brain hemispheres, all you need is 30 seconds of bilateral eye movement. This trick can also help with virtual brainstorming—remote meetings can dampen creativity if participants are too focused on their screens, which limits their visual scope and, in turn, their cognitive scope. So let your eyes roam and see what new ideas come to light.

A BIG NUMBER

16%

That’s the increase in the number of ideas generated by groups encouraged to criticize one another’s ideas during brainstorming sessions compared with teams that were told to withhold criticism. Furthermore, the ideas that the former group generated were deemed 17 percent more creative by independent observers. Here’s the rub: that only holds true in cooperative contexts. In a competitive context, groups whose participants criticize one another’s ideas generate fewer and less creative ones. Most brainstorming sessions take place in environments with a mixture of these characteristics, yet if facilitators can create a perception of cooperation and mutual interest or benefit during a brainstorming exercise, criticism can be a boon to creativity.

A QUOTE

“Using a structured approach to brainstorming removes some of the risks that can thwart honest discussion.”

So say McKinsey experts in one of the latest Bias Busters installments. In brainstorming sessions, people may hold back for a variety of reasons, such as feeling pressured to conform to a group consensus, wanting to avoid conflict or judgment of their ideas, or trying to maintain a perception of authority. People with social anxiety or those with more introverted personalities may also be less inclined to participate actively, finding it difficult to get a word in or needing more time to react to others’ contributions. To create a more inclusive and productive brainstorm, leaders can use anonymous brainstorming and silent voting, or even silent meetings, to capture ideas more comprehensively and fairly. The extra time and effort devoted to overcoming these risk aversions may lead to your team’s best ideas.

A SPOTLIGHT INTERVIEW

What’s a good way to think about brainstorming in your company? “If you had an organization and there was an oil well on the property, you’d do everything you could to extract that natural resource and deploy it for your growth,” says Josh Linkner, founder and CEO of five tech companies and author of Big Little Breakthroughs: How Small, Everyday Innovations Drive Oversized Results. “We have the proverbial oil well inside all of our people, and what a shame if we don’t let them use it.” In an Author Talks interview with McKinsey, Linkner discusses how leaders can “democratize creativity and innovation” by developing systemized ways to unlock the dormant idea reservoirs within their organizations. Thinking of new ideas as sparks instead of fully baked or endorsed ideas is one way to reinforce the iterative approach to idea generation during brainstorming. For team members held back by fear—of expressing a bad idea, being judged, or facing retribution—“rolestorming,” or brainstorming in character, can also be a liberating approach.

CREATIVITY THROUGH CONSTRAINTS

Image of a comb in front of a tangled web of string

Sometimes constraints are exactly what you need to allow room for your team’s creativity to shine. A great brainstorm requires direction, facts, and a variety of perspectives. Brainstorming sessions that are too unstructured can lead to time wasted on exploring irrelevant ideas or ones based on incorrect assumptions, while constraints in the form of proper framing and a fact base can help focus participants’ attention on what matters. Artificial but tailored constraints can also unlock fresh ideas by challenging your team to overcome new complications. As an emeritus professor at Duke University’s Fuqua School of Business says, the most effective brainstorming happens when people “think inside the box—the right-sided box.”

Lead by brainstorming better.

— Edited by Dana Sand, an editorial production manager in McKinsey’s Cleveland office

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by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 01:12 - 30 May 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—during the pandemic and beyond. In case you missed them, this week’s graphics explored how companies can retain design talent, global disease burdens, the largest lithium reserves, the popularity of grocery delivery, and working moms in the US.

FEATURED CHART

The art of talent retention

This week’s other select charts

Healthy people could lead to healthier economies

These countries are driving lithium production

A taste for home delivery

Working moms bear the care burden

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by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:58 - 28 May 2022

Conscious capitalism with Fortune’s Alan Murray

Readers & Leaders

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THIS MONTH'S PAGE-TURNERS ON BUSINESS AND BEYOND

In conversations with corporate executives, Fortune Media CEO Alan Murray has noticed a common theme: business leaders feel that companies could be doing more to positively impact society. In this edition of Readers & Leaders, catch a discussion with Murray about stakeholder capitalism and why companies can’t afford to misalign with consumer values. Don’t miss highlights from interviews on reframing your anxiety, saying “no” to nonpromotable work, and more, plus this month’s bestselling business books, prepared exclusively for McKinsey by NPD BookScan. Itching for more good reads? Check out McKinsey on Books for the latest.

AUTHOR TALKS

Once a choice, soon a necessity, social consciousness in business is here to stay, says Alan Murray. Companies are increasingly taking a side, be it climate justice, transgender rights, or other divisive matters. In a recent edition of Author Talks, the Fortune Media CEO and lifelong journalist shares how business leaders are pairing profits and social purpose, plus more from his new book, Tomorrow’s Capitalist: My Search for the Soul of Business.

“What’s happened over the course of the last decade, in part because of the failure of governments, is that companies have said, ‘We’ve got to pay attention to these long-term effects if we want to be around.’ They’ve also been pushed to do that by their employees. That’s probably something we should talk more about—it’s a big part of the dynamic—but a number of things have come together to force companies to say, ‘We need to pay more attention to the positive impact on society because if we don’t, we may have an existential problem down the road.’” Watch the full interview.

IT BEARS REPEATING

“What I have found in the younger generations is a grit and an idealism that I think is rare. I associate them a lot with the World War II generation, which was the most effective we’ve had in recent times. There are a lot of people who are young now who remind me of World War II veterans, especially those people coming back from Afghanistan and Iraq, in the US military. They learned hard discipline.”

–David Gergen, former editor of US News & World Report, four-time White House adviser, and author of Hearts Touched With Fire: How Great Leaders are Made, in a recent edition of Author Talks.

IN CASE YOU MISSED IT

Seth Stephens-Davidowitz warns us against trusting our gut: “There’s more data out there than has ever existed, and sometimes the data really does go against what you think. This approach of winging it in life isn’t the best one.” Watch the full interview.

Dr. Tracy Dennis-Tiwary shares how to turn anxiety from an adversary into an ally: “We mental health professionals have unintentionally given people damaging information about anxiety. We’ve essentially spread two fallacies about anxiety. First, that it’s always a debilitating experience.” Watch the full interview.

Lise Vesterlund says no to preparing someone else’s deck and other nonpromotable work: “Managers are 50 percent more likely to ask women to do nonpromotable work, and when women are asked, they are 50 percent more likely to say yes to these requests to do nonpromotable work.” Watch the full interview.

BUSINESS BESTSELLERS TOP

8

Whether you’re going away for the weekend or enjoying a late-spring staycation, take advantage of extra downtime with the top business bestsellers in eight categories, prepared exclusively for McKinsey by NPD BookScan. Explore the full lists on McKinsey on Books.

BUSINESS OVERALL

Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones by James Clear (Penguin Group USA)

BUSINESS HARDCOVER

Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones by James Clear (Penguin Group USA)

DECISION MAKING

Blink: The Power of Thinking Without Thinking by Malcolm Gladwell (Hachette Book Group)

ECONOMICS

Basic Economics: A Common Sense Guide to the Economy by Thomas Sowell (Hachette Book Group)

ORGANIZATIONAL BEHAVIOR

Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones by James Clear (Penguin Group USA)

WORKPLACE CULTURE

Who Moved My Cheese?: An Amazing Way to Deal with Change in Your Work and in Your Life by Spencer Johnson (Penguin Group USA)

DIVERSITY & INCLUSION

Caste (Oprah’s Book Club): The Origins of Our Discontents by Isabel Wilkerson (Random House)

SUSTAINABILITY

Net Positive: How Courageous Companies Thrive by Giving More Than They Take by Paul Polman and Andrew Winston (Harvard Business Review Press)

BOOKMARK THIS

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Download McKinsey’s signature reports and special collections on the management issues that matter, from leading through the COVID-19 crisis to managing risk and digitizing operations.

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The Titanium Economy

McKinsey’s forthcoming #TitaniumEconomyBook explores industrial tech and reveals this underappreciated and undervalued sector for what it really is: a reliable source of high-paying domestic jobs and soaring stock prices.

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The graduate’s guide to the world of work

A collection of recent insights and interviews to help you hit the ground running at your new job or internship during a period of continuing—and profound—change.

Get oriented 

If you’d like to propose a book or author for #McKAuthorTalks, please email us at Author_Talks@Mckinsey.com. Due to the high volume of requests, we will respond only to those being considered.

—Edited by Molly Liebergall, a digital editor in McKinsey’s New York office

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by "McKinsey Readers & Leaders" <publishing@email.mckinsey.com> - 11:53 - 28 May 2022

How inflation and the conflict in Ukraine are impacting European consumers

the Daily read

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AN ARTICLE A DAY, PICKED BY OUR EDITORS

Rising prices and the war in Ukraine are top of mind for Europeans who are slowly emerging from the pandemic. Consumer pessimism is at an all-time high, and people are changing the way they spend amid economic uncertainties. Nine charts from McKinsey’s latest European Consumer Pulse Survey dig deeper into the changing habits and new behaviors of consumers in France, Germany, Italy, Spain, and the United Kingdom. Dive into the data to see how Europeans are navigating change.

— Joyce Yoo, digital editor, New York

How inflation and the conflict in Ukraine are impacting European consumers

The latest Consumer Pulse survey shows that, across Europe, people have changed their habits and adopted new behaviors in response to new stressors.

See the trends

Quote of the Day

“In transformation, every organization looks like a start-up. … The conditions in large enterprise look very much like the conditions have always looked in a young company trying to create a segment or a category or launch a new product.”

—Deidre Paknad, co-founder and CEO of Workboard, in a recent episode of the McKinsey on Start-ups podcast

Chart of the Day

Chart of parents' reasons for leaving the workforce

See today’s chart

Also New

Image of two people studying their household finances at a desk

For many Americans, economic opportunity seems increasingly out of reach

Low unemployment doesn’t seem to dispel the gloom about inflation, the McKinsey American Opportunity Survey shows.

Understand national sentiment

Leading from the heart: How Freshworks’ CEO built a global tech unicorn

Girish Mathrubootham, CEO of the India-born, US-headquartered software-as-a-service start-up believes that this is the decade for India as a product nation.

Keep up

The McKinsey Crossword: Degree Holders | No. 77

39-Down: Skill whose development is critical to long-term career success

Play now

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:25 - 27 May 2022

🎙 Webinar:Improving Life-Work Balance for Your Remote Workforce

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You are invited to join four experts from Remote as they share practical strategies for managers and people leaders at every level to protect remote team members against burnout.

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by "Remote" <hello@remote-comms.com> - 08:02 - 27 May 2022

Meet Uffizio at SECUREX Expo in South Africa on Booth No: D35

Uffizio is traveling all the way to South Africa to talk about our platform’s security features. Meet us at Securex Expo

We’ll talk about Fuel Monitoring, E-locks, ADAS, Driver Monitoring Systems, and more.

See you there! We’ll be waiting at booth #D35

Check the new updates on our platform

Elexee - Electric Fleet Management Software

It is only a matter of time until electric fleets start replacing fuel-powered vehicles. That’s why you need our electric fleet management software more than ever.

Elexee is here to help you monitor your electric fleets in a way that saves you time and money. It can address range anxiety and prolong the life of your EV batteries.

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Rosterz Management

Managing transportation of employees just got easier. With our newly launched Rosterz application suite, office managers can now automate commute trips and manage employee attendance.

We offer separate applications for office managers, employees, and drivers. Managers can use the web app to design optimum pick-up & drop routes. They will be able to respond quickly to emergencies with timely alerts and analyze fleet activity trends with reports.

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by "Uffizio Technologies Pvt Ltd" <official@uffizio.in> - 04:30 - 27 May 2022

Meet Schneider Electric Industry Leader at IDC CIO Summit 2022 ASEAN

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Meet 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.

Join and experience the Virtual Summit as subject-matter experts and industry leaders will shed light on the strategies and best practices helping IT leaders like yourself navigate their organization’s digital transformation journey.

Agenda & Register

Register for OnDemand

Date & Time

Schneider Electric | Main Series Sponsor

Date: 16 June 2022, Thursday
Time: 11:20am - 11:40am (BKK time)

Where

IDC Arena Platform https://www.idc.com/ap/media-center/idc-arena

+ Lifecycle Services

From energy and sustainability consulting to optimizing the life cycle of your assets, we have services to meet your business needs.

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by "Schneider Electric" <reply@se.com> - 01:01 - 27 May 2022

The Great Resignation continues. Now’s the time to consider what workers need most.

McKinsey&Company

Listen and learn

In the news

•

Out of here. March saw 4.5 million US workers quit their jobs and 11.5 million positions open up—the highest numbers since December 2000, when the US Labor Department started tracking them. Overall, the number of jobs available is nearly twice the number of unemployed people. That means workers who still hold jobs—along with those who are seeking new ones—have better prospects than ever and fewer reasons to stay put. [FT]

•

Unhappy anniversary. As employers rethink workplace conventions, one stands out as especially vexed: the annual performance review. Study after study has revealed that yearly reviews show little, if anything, that’s useful about what workers excel (and struggle) at and what they like (and don’t like) to do—the very factors that determine whether they’re engaged at work or apt to leave. Worse, annual reviews reduce people to numerical ratings in a way that can make them question how much organizations value them. [WSJ]

“Employee life is in no way comparable to serving in a combat zone. But the emotional reaction to returning from deployment does parallel what many workers are experiencing now.”

On McKinsey.com

•

Tough times. After reading a McKinsey article proposing that many employers don’t know why their employees are leaving, a military veteran turned HR leader contacted one of the authors to offer a new perspective: “Employees don’t know why employees are leaving.” She likened the experience of adjusting to pandemic disruptions—working remotely, returning to work—to the experience of returning home from a military deployment: disorienting and disappointing because things aren’t the way they used to be. That’s a new feeling for many workers, she observed, so naturally, they’re having trouble.

•

Empathize and empower. For employers, the Great Resignation might seem like a business problem: How do we maintain an effective workforce? But it’s fundamentally a human problem that requires human solutions. People are grieving on multiple levels, and physical distancing and remote work have left them with fewer folks they can turn to. Acknowledging these difficulties is the first step toward helping people recover. Read on to understand what workers are feeling and how to best support them.

— Edited by Josh Rosenfield

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:41 - 27 May 2022

The future of mobile wallets in Southeast Asia

the Daily read

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AN ARTICLE A DAY, PICKED BY OUR EDITORS

Mobile-payment wallets are increasingly powerful—and popular—tools for consumers, particularly in regions like Southeast Asia. This convenient technology has broadened financial access there, with swift uptake during the pandemic. Beyond simply storing money, these wallets can be used to trade cryptocurrency, enable new payments methods, and more. A new article offers perspective from three leaders at the forefront of the field. “In Southeast Asia, more than six in ten people are unbanked, and only about 17 percent of transactions are cashless,” says Chris Yeo of Grab Financial Group. “So there are massive opportunities: we have to meet those needs, solve these problems.” Explore the potential and what the future could hold for digital wallets in the region.

— Joyce Yoo, digital editor, New York

Woman with the QR code for payment on her smart phone

Mobile wallets: Southeast Asia’s new digital life hack

Mobile-payment wallets have taken the Southeast Asian payments sector by storm, but where next for this groundbreaking technology? Three leaders in the field share their insights.

Learn from a leader

Quote of the Day

“The bottom line is that growth and sustainability and inclusivity, there need not be trade-offs between them. They need not be antagonistic to each other.”

—Ngozi Okonjo-Iweala, director-general of the World Trade Organization, in a recent episode of the McKinsey Global Institute’s Forward Thinking podcast

Chart of the Day

Chart of changing consumer behavior toward grocery deliveries

See today’s chart

Also New

Author Talks: Make anxiety your ally

How can we reclaim our relationship with anxiety, so it works for, and not against, us?

Develop a healthy mindset

How economic-development organizations can seize funding opportunities

By harnessing funds from the American Rescue Plan Act, economic-development organizations have an opportunity to effect significant change in their communities—if they can organize themselves first.

Accelerate growth

The tech transformation imperative in retail

Organizations face an urgent need to overhaul their tech architecture and operating model to keep pace with the changing landscape. Five concrete actions can accelerate the transformation journey.

Boost performance

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:29 - 26 May 2022

[May Update] Exciting stories and essential reading from Remote!

Hi MD,

Welcome to your May update from Remote! We're back with news on what's new with us, the latest from the blog, plus some new partners, webinars, and upcoming events you should know about. Read on for the scoop.

Introducing new Remote Marketplace Partners you can trust.

We’re excited to add Notion, Fonoa, Goodtime.io, and TravelPerk to our exclusive list of partners focused on helping their customers grow global teams. Even better, Remote customers can get special offers on their products and services.

Explore the Remote Marketplace

Remote Recruiting and Sourcing Referral Program

We’re thrilled to add Wave, TecPartners, and Martinsen Mayer to our list of recruiting and sourcing referral program partners. Just one more way we’re helping our customers who want to hire in the United Kingdom and Ireland.

Learn more about partnering with Remote

Take the stress out of your move with Shyft

Moving homes doesn’t have to be complicated. But you do need to make sure you don’t leave anything behind. Our partner Shyft created a Moving Checklist that you or any of your employees can keep handy, pin up on your fridge, and leverage to make your move smooth.

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Solving complex problems with the Remote API

Find out how we're working with some of the world's leading HR and payroll partners to create seamless workflows that solve employers' biggest problems when it comes to scaling globally.

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Viva Tech, Paris

Date: June 15-18 2022

Every year VivaTech brings together, in Paris and online, business leaders, startups, investors, researchers, and innovators to ignite positive change in business and for society. Meet Remote at our booth #L12.

Find out more

re:Publica, Berlin

Date: June 8-10 2022

The re:publica Berlin is a festival for digital society and the largest conference of its kind in Europe. Here, bloggers meet politicians, scientists meet entrepreneurs, and artists meet activists to discuss current issues. Meet Remote at re:publica at our booth #e04 or visit The Remote Lounge. To schedule a meeting with a member of the Remote team, follow the link below.

Register to schedule a meeting

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On-demand webinar: Building a globally inclusive recruitment strategy

You can now watch the recording of our latest webinar! Join experts from four of the world's leading HR companies as they share their wisdom on building effective, empowering global recruitment strategies with inclusivity at the center.

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by "Remote" <hello@remote-comms.com> - 12:00 - 26 May 2022

Archives

in

The Intel Vision 2022 Digital Event (On Demand) is here!

8

Grow your headcount

Introducing new Remote Marketplace Partners you can trust.

Remote Recruiting and Sourcing Referral Program

Take the stress out of your move with Shyft

best from the blog

upcoming events

on-demand webinar