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Revisiting the future of work: A leader’s guide
Leading Off
Future shock .Share this email ESSENTIALS FOR LEADERS AND THOSE THEY LEAD The future of work isn’t a new concept, as organizations have been implementing aspects of it—automation, reskilling, flexible staffing—for years. Following the pandemic, though, the need for solutions to address the future of work has become more pressing. Workplace transformations that were expected to take years are happening in months. As leaders envision what their teams and organizations will look like in the future, it may be helpful to cut through the clutter and pinpoint the developments to watch. This week, let’s explore how the major trends—including the growth of the ever-evolving metaverse—are likely to play out. AN IDEA Define the three basics of work In the ongoing debate over hybrid and remote work, it’s all too easy to get bogged down in the specifics of who spends how many days in the office. Instead, think about the three basics that shape organizations: the work, the workforce, and the workplace. What is your company’s value agenda, and how do you plan to deliver on it? Ask yourself which parts of your organization’s work are temporary and which are transformative. The answer to that question defines what work your organization does, where it does it, and the talent and skills you need for it. For example, your company might focus on generating value by building an e-commerce platform. That would require investment in technical software and skills, but the work wouldn’t necessarily have to be done on-site. Examining and optimizing the three factors will enable your company to function better in the postpandemic world, regardless of the style of work you choose. A BIG NUMBER 51 That’s the percentage of respondents to a McKinsey survey who are looking at workplace factors, such as reconfiguring their office spaces to save on real-estate costs and improve office environments for on-site employees. Measures include renegotiating lease terms, letting leases expire, and setting up flexible desk arrangements. With much of knowledge work moving off-site, you could seize the opportunity to completely reinvent your physical and virtual work environments. A QUOTE That’s Saadia Zahidi, managing director of the World Economic Forum (WEF), during the launch of a new workforce reskilling initiative at WEF’s annual meeting in January 2020. Zahidi could not have predicted the pandemic that broke out just two months later, but she was prescient about the radical change in the talent landscape that would follow. Recognizing that the postpandemic workforce is vastly different from the prepandemic one, leaders need to go back to basics—assess the talent you have, the retraining or hiring you may need to do, and the new expectations your team will have of you. The latter may prove the most challenging: employees expect inclusion, a sense of purpose, and a positive experience at work, and leaders will need to meet these expectations in deliberate and tangible ways. A SPOTLIGHT INTERVIEW Like the future of work, the idea of a metaverse has been around for a long time—since 1992, in fact, when the author Neal Stephenson coined the word in his sci-fi novel Snow Crash to describe a virtual universe that parallels the real one. Today, the metaverse represents the convergence of our physical and digital lives, mostly through immersive technologies such as virtual reality, augmented reality, and many others. It already has numerous practical applications in the business world and promises many more, says McKinsey’s Richard Ward in this podcast. For example, a worker can learn new vocational skills—such as repairing a truck or helicopter—with virtual-reality goggles that simulate each task. “If you need to do something that is very manual or requires you to move around a lot, metaverse tools can be very helpful,” says Ward. “That’s one of the key elements of the metaverse: you can move around, you can walk places, you can see things, you can do things.” NO PLACE LIKE HOME Employees may well have the last word when it comes to deciding the future of workplace models. Stanford University professor Nicholas Bloom warns of conflicts between companies that insist—to the point of threatening pay cuts or firings—on getting people back into the office full-time and employees who will quit if forced to give up working remotely. “It’s a perfect storm,” Bloom says. “You have executives pushing for a return to the office, employees wanting to work from home, and a tight labor market.” New research from McKinsey suggests that to stem the tide of workplace exits, executives need to create an inclusive, hybrid work environment and may even need to scale work-model personalization, tailoring it to the needs of individual employees. Lead by looking to the future. — Edited by Rama Ramaswami, a senior editor in McKinsey’s Stamford office Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too.
Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Leading Off newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 03:07 - 25 Apr 2022 -
Dealing with inflation must become a CEO superpower. Here’s how.
McKinsey&Company
Our playbook for managing inflation .The universal tax In the news • Up, up, and away. Energy and food costs are skyrocketing, supply chains are constrained, and consumer demand is strong. The upshot? US inflation rocketed to a forty-year high of 8.5% in March from the same month a year prior. Though economists see some encouraging signs that inflation may be peaking, such as a slowing rise in the core price index, the Russian invasion of Ukraine and China’s COVID-19 surge may mean that supply disruptions—and resulting higher prices—endure longer. [WSJ] • Global flare-up. The world is experiencing a synchronized inflation outbreak that previously seemed isolated to the US and some European countries. Producer prices are rising in Japan, India, and South Korea, and all economies are feeling the effects of higher energy and food prices. As the worst of the COVID-19 pandemic subsided, the global economy began to rebound, but Russia’s invasion of Ukraine has slowed this recovery and created new sources of inflation. [Bloomberg] With the right playbook as a guide, the best CEOs will successfully manage the impact of higher inflation and establish a new level of organizational resilience. On McKinsey.com • ‘Motivator in chief.’ Few CEOs have led a company through today’s historic spikes in inflation. Six out of ten advanced economies are now grappling with year-on-year inflation above 5%, though their central banks and planners have long expected to deal with approximately 2% inflation. Chief executives play a key role in setting direction, aligning the organization, and serving as “motivator in chief,” McKinsey research reveals. Our inflation playbook arises from work with hundreds of companies and should help CEOs no matter what direction inflation takes. • The CEO inflation playbook. The CEO’s focus cannot be limited to inflation’s implications for profitability. Instead, these leaders need to ask how companies can create value for customers with targeted products and services, how to redesign supply chains, what can be done to attract and support talent—including procurement leaders—and what repricing to pursue. See our playbook for managing inflation and learn how CEOs can set priorities and organize to direct all this activity. — Edited by Katy McLaughlin Lead through inflation Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:47 - 25 Apr 2022 -
The week in charts
the Daily read
The rise of virtual healthcare services, a growing humanitarian crisis, and more .Share this email 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 the humanitarian crisis in Ukraine, the rise of virtual healthcare services, the pandemic’s impact on the aviation industry, private markets fundraising, and growth in the global semiconductor industry. FEATURED CHART Lives lost, livelihoods disrupted See more This week’s other select charts A $247 billion opportunity Experiencing some turbulence Onward and upward What’s driving the semiconductor market Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too.
Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to The Week in Charts newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:58 - 23 Apr 2022 -
Visualizing a net zero future with eight charts
the Daily read
Zero in on net zero .Share this email AN ARTICLE A DAY, PICKED BY OUR EDITORS Governments and organizations all over the world are pledging to tackle climate change, and it looks like a future of net-zero emissions is coming into view. But what will it take to get us there and how will the transition affect the world economy? This Earth Day, get smart on the net-zero transition and explore eight charts that break down the associated opportunities and risks. Check them out and get updated on what the future could hold. — Joyce Yoo, digital editor, New York Charting net zero: Insights on what the transition could look like See the opportunities and risks of the net-zero transition through eight of our recent data visualizations. Zero in on net zero Quote of the Day “The teams coming together have to see it as their shared future. It can’t be us versus them. It can’t be winners versus losers. It can’t be, 'We’re taking over.' It has to be, 'We’re coming together.' The dynamic of the team and getting that right is where the magic is.” —David Goeckeler, CEO of Western Digital, on making large, complex partnerships work for all parties in "Viewing change as opportunity: An interview with Western Digital’s David Goeckeler" Chart of the Day See today’s chart Also New The McKinsey Crossword: Nonbinary | No. 72 30 down: Like a person whose identity isn’t fixed ... and the theme of this crossword. Can you solve it? Play now Three ways transformation has changed (and three ways it hasn’t): A conversation with Seth Goldstrom Recent global challenges have shown evolving approaches to transformation and some enduring transformation best practices. Adapt and navigate What Medicare Advantage members want from their onboarding experience Medicare Advantage payers that apply the results of a recent survey to improve the onboarding experience could reap benefits such as improved health outcomes for beneficiaries and reduced churn. Listen and improve Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too.
Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:23 - 22 Apr 2022 -
Live long and prosper: How to extend the quality of life for everyone
The Shortlist
Plus, where are you on the S-curve of learning? .Share this email Our best ideas, quick and curated | April 22, 2022 View in browser This week, we focus on a more ambitious and relevant goal for human health. Plus, an interview with Ron O’Hanley of State Street, and the effects of inflation on defense spending. L’Chaim! What if six years of higher-quality life was in reach for everyone on the planet? It’s possible, according to new analysis from the McKinsey Health Institute, if society challenges its beliefs about the definition of health—and reorients portions of public policy and the economy accordingly. 73 is the new 30. Good health is the foundation for leading a productive and enjoyable life. It is a key determinant of life satisfaction and, more broadly, it underpins social development and economic growth. Scientific progress, innovation, and investment across the public, private, and social sectors have led to great advancements in prolonging and improving life: between 1800 and 2017, average global life expectancy more than doubled, from 30 years to 73 years. Reducing time spent in poor health. While it’s important to recognize such progress, there’s more to be done. Health inequity remains a major problem across the globe, with disparities in access and outcomes persisting between and within countries and regions and across gender, wealth, and other demographic identifiers. What’s more, the share of our lives spent in poor health has not diminished over time. On average, people spend about 12 percent of their lives in poor health, research shows. The best available data suggest that this ratio has not changed much in the past 50 years; indeed, chronic conditions now afflict growing numbers of people for significant portions of their lives. Broadening the definition. To set the right course, embracing a modernized understanding of health will be crucial. This means changing the definition of good health from the absence of disease to one that better aligns with individual aspirations and the latest scientific research. The World Health Organization proposed just such a broad definition of health, with a greater emphasis on well-being, back in 1948: “health is a state of complete physical, mental, and social well-being and not merely the absence of disease or infirmity.” Aiming higher. Six key shifts are needed to reach the full potential for human health. They include viewing health not just as an expense, as we do today, but as an investment. It is crucial to improve the measurement of health through better data collection, as well as to scale proven interventions and strategies more consistently and broadly across populations. People can also be empowered to steward their own health through education, public-sector innovation, and robust application of public policy. Human kinder. Humanity mobilized against COVID-19 at a speed and scale previously unseen. The response at its best demonstrates that when resources and motivation coalesce, scientific breakthroughs and large-scale behavior change are possible within very short periods of time. Humanity needs a goal that yields more time with loved ones, more accomplishments, and more time free from cognitive or physical impairment. Every institution, every leader, and every person has an important role to play. OFF THE CHARTS The IT factor: Making the right tech moves to win In a time of significant, ever-quicker shifts in the IT portfolio, a new survey suggests that a company’s foundational technology has never been more important. In the latest McKinsey Global Survey of technology and business leaders, we find that the competitive divide between winners and the rest has only grown during the pandemic. Compared with the IT organizations at other companies, those at the top—rated by respondents in the top quartile of effectiveness for 15 key technology activities and capabilities—have made much more progress in their cyber, digital, and cloud moves. What’s more, at companies with top-performing IT organizations, technology leaders are much more likely to be involved in company-wide strategy. Check out our chart of the day here. INTERVIEW A finance expert on strategies for sustainability In a recent episode of the McKinsey Global Institute’s Forward Thinking podcast, Ron O’Hanley, the president and CEO of State Street, talks about how the major servicer and manager of institutional assets is trying to make its portfolios carbon neutral by 2050, the growth potential of digital finance, and how the pandemic dramatically illuminated societal vulnerabilities. “I think it’s fair to say that the multiple crises that started in 2020—but first and foremost, the pandemic—really did highlight both strengths and weaknesses that are in the public and private sectors,” says O’Hanley. “And I think it also highlighted the linkages and connections between corporate resilience and ESG [environmental, social, and governance].” MORE ON MCKINSEY.COM The $773 billion question: Inflation’s impact on defense spending | To deal with possible long-term inflation and price increases for its most important programs, the US Department of Defense might benefit from a greater focus on productivity gains as a means for cost containment. Six customer-experience pitfalls to avoid | To successfully enhance customer experience, companies need to build the right organizational capabilities and culture to plan, execute, and sustain the transformation. Building a global biotech: Taking a first-time launch into international markets | Establishing an international presence with a first launch is a challenge, but learning from others’ experiences can help biotechs avoid missteps and maximize their chances of success. THREE QUESTIONS FOR Whitney Johnson Whitney Johnson, the CEO of the growth-focused human-capital consultancy Disruption Advisors, spoke with McKinsey about her new book, Smart Growth: How to Grow Your People to Grow Your Company, in a recent edition of our Author Talks interview series. This is an edited version of the conversation. What is the S-curve of learning? The S-curve of learning is a very simple visual model for what growth looks and feels like. It’s based on the diffusion curve that was popularized by E. M. Rogers back in the 1960s. He used it to help us figure out how quickly groups of people change. We can use the S-curve to help us think about how we change, how we learn, and how we grow. Every time you start something new, you are at the base of the S. This is what I call the launch point. This is the place where it’s going to feel like a slog; it may feel discouraging; it may feel overwhelming. That’s because even though growth is happening, it’s not yet apparent. You’ve got this predictive model in your brain. It’s making lots and lots of predictions, and those predictions can be incorrect, [in which case] your dopamine drops. The second phase of the S-curve of learning is the sweet spot. You hit the knee of the curve—it’s that steep, sleek back of the curve. This predictive model that you’re running is becoming increasingly accurate. You’re getting lots of dopamine, lots of upside surprises. You’re feeling competent and confident. This is the place where it’s still hard, but it’s no longer too hard. You feel exhilarated. You feel like you’re right where you’re supposed to be. This is the place where growth is not only fast—it feels fast. Then you hit the third part of the curve: mastery. You’ve figured everything out, but because you’re no longer enjoying the feel-good effects of learning, you can get bored. Growth is actually slow. You’ve got slow and then fast and then slow. Once you understand what growth looks like, once you have this very simple visual model, you can increase your capacity to grow. Why do we need to be smarter about growth now? One of the things that psychologists have seen is that when we come through a period of severe stress, which the pandemic has been, we are in this place where we’re poised for tremendous growth. Over the past couple of years, we were all on this S-curve, and then we were pushed off. Whether we liked the S-curve or not, we’ve now realized, “Oh, I’ve got this different perspective. I’m now in motion. I’m moving. I have more resilience than I thought I did.” People are really evaluating their lives, and they’re asking themselves, “Do I want more?” In terms of people quitting their jobs, I don’t think it’s so much the Great Resignation as the Great Aspiration. People are aspiring for more—they’re not resigning from. They’re aspiring for more because they want to grow. How do you balance looking back with looking ahead in your learning? We can think about our life and plot it out as a series of S-curves. And I do think it’s useful to look at our prior S-curves; I do believe that no S-curve is ever wasted. The challenge is if we look at it and we think, “This should have been different, my life should have been different.” That is actually very counterproductive and can become an excuse. To the extent that we look at it, we learn from it—that will give us information. When I know I’m on the launch point of the curve, then I can say, “Oh yeah, I do feel exhilarated, but I also feel overwhelmed. I feel discouraged. This is normal.” That allows me to think about what I need to do to move into the sweet spot. — Edited by Barbara Tierney Share this Q & A BACKTALK Have feedback or other ideas? We’d love to hear from you. Tell us what you think Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too.
Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to The Shortlist newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Shortlist" <publishing@email.mckinsey.com> - 02:25 - 22 Apr 2022 -
Still think of net zero as a challenge? There’s potential for growth, too.
McKinsey&Company
Eleven big value pools .Greenlighting growth In the news • A ticking clock. The latest report from the Intergovernmental Panel on Climate Change makes it clear: time has nearly run out to meet the 1.5°C warming target of the Paris Agreement. To do so, global emissions would need to top out before 2025, then drop by 43% before 2030. Getting there will require doing many different things—from switching to renewables and electric vehicles to planting more trees—to stop greenhouse-gas emissions and to pull carbon dioxide from the atmosphere. What’s more, all those things would have to happen at once. [Economist] • ‘Ecopreneurs’ wanted. The drive toward net-zero greenhouse-gas emissions is spurring fresh demand for climate technologies—a trend that investors are getting behind. In March, a record number of start-ups pitched ideas for climate-saving products or services during a high-profile fundraising event. One of the start-ups is creating an algae-based feed additive that might lower cows’ methane burps by 80%. Climate-tech start-ups based in the US raised $40 billion of funding in 2021. As one founder put it, “People are no longer questioning whether there’s a market.” [Wired] Burgeoning demand for net-zero offerings would create unprecedented opportunities: 11 value pools could generate more than $12 trillion of annual sales by 2030. On McKinsey.com • A moment to ‘play offense.’ History’s largest reallocation of capital may already be under way. However, many companies are spending more on mitigating emissions from their current operations when they should be pivoting to building new green businesses. Some net-zero plans only show how companies will keep up with stakeholder expectations and regulatory requirements. This is playing defense—trying to prove that a company will survive. Playing offense means showing that your business model is built to outperform during the net-zero transition, with a free cash flow that grows relative to expectations. • Four moves to create value. Risk won’t disappear, but leaders in the net-zero transition can create value by making bold plays. For example, our research suggests that green leaders in one chemicals sector have seen their enterprise multiples increase by a factor of two to five, while laggards’ multiples have stayed flat. Learn four complementary moves—such as building green businesses and transforming operations—for creating value in the net-zero transition. — Edited by Josh Rosenfield Thrive in the net-zero economy Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:38 - 22 Apr 2022 -
Making hybrid work work for everyone
the Daily read
Meet in the middle .Share this email AN ARTICLE A DAY, PICKED BY OUR EDITORS Although employers are eager for a return to the office, their employees aren't so keen. In the age of hybrid work, many companies are looking at their workplace models and thinking hard about how to make them more flexible and inclusive. But it’s difficult, delicate work. A new article looks at the dynamics and suggests three practices to prioritize to build a more inclusive culture that can improve performance and organizational cohesion, as well as employee wellness, engagement, and retention. Check it out for perspective on making a hybrid approach work for everyone. — Sarah Skinner, digital editor, New York Hybrid work: Making it fit with your diversity, equity, and inclusion strategy New research details what empowered employees love about hybrid work models and the risks to diversity, equity, and inclusion if managers get the evolving flexible workplace wrong. Meet in the middle Quote of the Day “McKinsey analysis suggests that, in a scenario where the world reaches net zero by 2050, economic output would progressively (and permanently) tilt away from goods and services that are emissions-intensive and toward those that can be made and used without emitting [greenhouse gases]. These shifts would, in turn, ripple along entire value chains, altering the dynamics within industries.” —See how companies can capitalize on green growth opportunities in “Playing offense to create value in the net-zero transition” Chart of the Day See today’s chart Also New Better data for better therapies: The case for building health data platforms Health data platforms that participants trust could bring an end to today’s reductionist approach to drug development, revolutionizing our understanding of disease. Look at the facts Closing the racial wealth gap by investing in Black consumers Organizations that incorporate racial equity into their strategic agenda can promote growth and advance Black economic mobility. How can business leaders realize this transformative growth? Understand the issues Better and faster: Organizational agility for the public sector Agile principles can help governments transform the way they work for the better. Make new moves Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too.
Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:07 - 21 Apr 2022 -
You’re invited: 🎙Webinar - Building a globally inclusive recruitment strategy with Lever + BambooHR + Hired
You’re invited: 🎙Webinar - Building a globally inclusive recruitment strategy with Lever + BambooHR + Hired
Don't miss out!Hi MD,
🎙 WEBINAR: Building a globally inclusive recruitment strategy with Lever + BambooHR + Hired.
Date: 28th April 2022. Time: 6.00pm UTC, 7.00pm BST, 2.00pm ESTHear from four of the world's leading HR companies and their wisdom on building effective, empowering global recruitment strategies with inclusivity at the center.
Hire, onboard, and pay your international team in minutes and stay compliant.
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by "Remote" <hello@remote-comms.com> - 08:16 - 21 Apr 2022 -
Join me on Tuesday to learn how to maximise observability with New Relic Logs
Hi MD
It's Liam Hurrell, Lead Customer Training Specialist at New Relic University, here. I'm checking in to invite you to the online workshop I'll host on Tuesday 26 April - a comprehensive introduction to how to maximise observability with New Relic Logs. Logs are a powerful source of data but are they easy to use or access when you need them? You can also claim a set of Jenga "logs" as a thank you for attending.*
This 90-minute virtual workshop will walk you through the different ways to bring log data to New Relic, the fast and easy to use UI, as well as parsing, filtering, or dropping logs to match your needs. With hands-on labs in a sandbox environment, you’ll get to search log data with ease and speed, work with partitions and AI log patterns, troubleshoot errors in applications and trace data, create charts and dashboards to share with teams, and set up alert conditions for problems you want to prevent.
While we recommend attending the hands-on workshop live, you can also register to receive the recording. You can find the full agenda on the registration page.
Hope to see you then,
Liam HurrellLead Customer Training Specialist
New Relic
*You can find the list of countries we can ship swag to on the workshop registration page.
This email was sent to info@learn.odoo.com as a result of subscribing or providing consent to receive marketing communications from New Relic. You can tailor your email preferences at any time here.Privacy Policy © 2008-21 New Relic, Inc. All rights reserved
by "Liam Hurrell, New Relic" <emeamarketing@newrelic.com> - 04:45 - 21 Apr 2022 -
Tax season is behind us. Its racial implications aren’t.
Intersection Subject Line
What does race have to do with Americans’ taxes? .Share this email DELIVERING ON DIVERSITY, GENDER EQUALITY, AND INCLUSION In this issue, we look at how US tax policy disadvantages Black Americans—and how to make the system more equitable. THE VIEW “When I think about the deductions, loopholes, and exemptions—they were all made with White Americans in mind. They were all made to advantage White taxpayers.”
— Dorothy A. Brown
What do taxes have to do with racial equity? That’s a question many Americans may not have considered—but Dorothy A. Brown is on a mission to change that. Brown is an incoming professor of law at Georgetown University and a nationally recognized scholar on race, class, and tax policy. She takes on those topics in her latest book, The Whiteness of Wealth: How the Tax System Impoverishes Black Americans—and How We Can Fix It. As Professor Brown explains in this edition of McKinsey’s Author Talks, “Whenever Black Americans engage in the same activity as White Americans, tax policy will advantage how White Americans engage in the activity and disadvantage how Black Americans engage in the activity.” The Whiteness of Wealth sheds light on racial disparities in tax laws that affect Black Americans in many areas of life, from college and jobs to marriage and homeownership. The findings are eye-opening. When the author shared her research with Black families who were interviewed for the book, they were blown away. “They had always known something was wrong, but until then, they didn’t know what it was,” says Brown. Now they are left with a question: “How can we get ahead?” Professor Brown’s solution is “getting rid of the loopholes, exemptions, and deductions and taxing all income at the same rate, with no more preferential treatment for capital gains.” She also proposes giving everyone a living allowance deduction based on their cost of living: “What does it take to thrive in your geographical area? That amount of money you don’t pay tax on—only the amount you earn in excess. What if you earn less than that amount? In that case, you get money from the government.” Last year, the author told Congress that “the racial wealth gap will not be eliminated without a fundamental change in our tax laws.” A wealth tax credit, she explained, could help to reduce the country’s racial wealth gap. McKinsey research confirms that most of the current federal tax expenditures—deductions, exclusions, credits, and reduced tax rates—reinforce disparities rather than narrow them. These expenditures amount to well over $1 trillion each year, and thus have a significant effect on the federal budget. The majority of tax breaks are claimed by individuals (not corporations), and they predominantly benefit the highest-earning Americans. Some of the largest tax expenditures benefit Americans with real-estate holdings, employer benefit packages, investment portfolios, and family wealth. In 2019, about half of individual income tax expenditures went to taxpayers in the highest income quintile—the top fifth of American households by income—a segment of the population in which Black Americans are underrepresented. That top quintile of households received 95 percent of the benefits from net preferential rates on capital gains and dividends—and three-quarters of the total benefits from this expenditure went to the top 1 percent of American households. After all, families can’t realize capital gains on assets they don’t have. Only one-third of Black households own stock, for example (whether directly or indirectly); that’s compared with 60 percent of White households. As Professor Brown reminds readers, “Access, trust, and history have all shaped today’s Black and White investment practices.” “The truth is,” she writes, “there’s nothing in this country that race and racism aren’t a part of.” To be sure, “tax policy may not be an obvious way to fight systemic racism.” But it’s long past time, Brown says, “to have a conversation about the racist acts buried deep in our tax returns.” — Edited by Julia Arnous, an editor in McKinsey’s Boston office Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too.
Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Intersection newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Intersection" <publishing@email.mckinsey.com> - 01:11 - 21 Apr 2022 -
A higher-quality life is in reach for millions. But first, six shifts are needed.
McKinsey&Company
Old age could be healthier and happier .Health is wealth In the news • How low can it go? Due to the COVID-19 pandemic, life expectancy in the United States dropped by almost two years in 2020—which is more than in 19 other wealthy nations, according to new analysis by three public-health experts. Researchers are now surprised and disturbed to discover that life expectancy in the US continued declining in 2021, even as it improved for all but three of the peer countries analyzed. The drop in 2021 was largely due to continued declines in the life spans of White Americans. [WaPo] • Labor leak. Around the world, about 100 million people suffer from long COVID-19—defined as symptoms lasting for at least 12 weeks. Many are unable to go back to their jobs, leading to the suspicion that long COVID could be contributing to the difficulty many employers have in finding workers. One study in January surmised that 15% of the vacant jobs in America could likely be due to long COVID. Businesses should consider developing new policies to help long-COVID sufferers. [FT] It’s time to set a new goal for human health—one that yields more time with loved ones, more accomplishments, and more time free from impairment. On McKinsey.com • Longer but not (yet) better. Between 1800 and 2017, average global life expectancy more than doubled to 73 years. Since 1900 in the United States, infant mortality has fallen by 90% and maternal mortality has decreased by 99%. But we still spend the same share of our lives suffering from poor health. On average, people spend about half of their lives in less-than-good health, including 12% in poor health. The best available data suggest that this ratio has not changed much in the past 50 years. • Quality time. The McKinsey Health Institute believes that over the next decade, humanity could add roughly six years of high-quality life per person on average, and substantially more in some countries and populations. To make it happen, we propose embracing a broader definition of health that recognizes the importance of how people integrate meaning in their lives, including how connected they feel to others. Learn the six shifts needed to achieve full potential for human health. — Edited by Katy McLaughlin Embrace healthy change Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:25 - 21 Apr 2022 -
How diversity pledges can work
Re:think
Delivering on diversity After the murder of George Floyd, big US companies pledged well over $50 billion toward diversity and racial-equity efforts of all kinds. Many of the pledges were made with an incomplete understanding of what it would take to actually meet the commitments. People needed to come out in the moment and make a commitment. They would focus on the “how” later. Recently, I’ve been talking to many of the leaders at those companies. They are anxious to follow through on those commitments. They are ready to get it right. And, as I’ll explain later, this is a propitious moment.
This work of turning pledges into operations that truly make a difference is in its infancy. But we’re seeing signs of progress in three key areas: capital, connectivity, and technical assistance and support.
With capital, financial institutions have pledged an influx of capital into community banks and minority depository institutions. And banks have all stepped up and said they would expand their lending. But time and again, Black loan applicants are getting turned down at higher rates than other racial groups.
So the question is, “How are you thinking of creative ways to leverage data and analytics to determine creditworthiness?” We’re not saying that anyone should extend credit where it is not warranted. But they should look beyond conventional metrics. For example, in some markets applicants are getting credit for paying rent. That’s not a traditional piece of your credit score, but it’s the most meaningful monthly expense for many families.
By thinking creatively about their balance sheet and commercial terms, companies can facilitate the growth of small companies they work with and help them bridge some of the problems they have accessing capital. Let’s say that you’re a company that makes home security equipment, and you contract with smaller companies to install your equipment in homes and offices. Could you lend some money to a small minority company to help them scale up the workforce that’s required to meet the contractual commitments you’ve agreed to? You’re on both sides of that transaction, but you have privileged information.
That’s the creativity we need. I’m not saying every party should become a bank, but how can we get creative?“When you think about how important access is to your own company’s way of doing business, why not help your suppliers who don’t have the same access?”
Then there’s connectivity. What can corporations do to help bridge what I’ll call the professional- and social-network gap? This is all about access to relationships. How can you connect suppliers and business partners to one another within a given ecosystem? Industry groups do this in a convening way, so, in a way, big companies are already funding these kinds of connections. But if companies committed some more of their resources—not necessarily money—to this, there could be huge benefits. When you think about how important this is to your own company’s way of doing business, why not help your suppliers who don’t have the same access?
This is connected to the third point, technical assistance. You see this a lot in the manufacturing side of supplier development programs, where companies have created internal infrastructures to help build out the capabilities, the resiliency, and the scale of their suppliers. They’ve got experienced professionals spending real time helping to build the capabilities of these suppliers so they can scale to meet the needs of their company, and other companies. And, of course, the big companies have to make business opportunities for these small businesses. They’re not helping them upscale just for the sake of upscaling.
In essence, these programs are about helping companies understand what it takes to go from mom and pop to middle market, or middle market to billion-dollar enterprise. Since minority-owned businesses skew smaller, they can benefit disproportionately from these programs. But this is just a good business practice, particularly in the context of all the challenges facing global supply chains now.
The supply chain reset we’re seeing could be a significant moment for minority-owned businesses. It’s a great opportunity for companies wanting to deliver on those well-intended diversity and racial-equity pledges. As companies look at trends such as nearshoring, they could redevelop their supply base with an eye toward increased participation from minority businesses. There are plenty of road maps for how to do this. Yes, it will take some investment, but it will pay off in the medium and long term. People are just starting to understand this connection between supply chains and their diversity commitments. We’re in the very early days.ABOUT THE AUTHOR
Shelley Stewart III is a senior partner in McKinsey’s New Jersey office.
MORE FROM THIS AUTHOR
Black consumers: Where to invest for equity (a preview)
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Building supportive ecosystems for Black-owned US businesses
The right business ecosystems can mitigate or negate the effects of structural obstacles to business building for Black business owners—and add $290 billion in business equity.
IN TWO WEEKSJennifer Schmidt on retail supply chains
Amidst the pandemic-driven disruption to supply chains, some companies find success with truly novel approaches.
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by "McKinsey Quarterly" <publishing@email.mckinsey.com> - 07:53 - 20 Apr 2022 -
The great American demographic shift
the Daily read
Understand the changes .Share this email AN ARTICLE A DAY, PICKED BY OUR EDITORS Minority groups could soon collectively account for over half of the US population. What’s important in navigating this majority-minority demographic shift? According to George Mason University associate professor Justin Gest, it’s about building bridges and making sure everyone feels a sense of belonging. “I think we need to begin the process of getting in touch with each other because that’s where progress is made: listening, sharing stories, and getting to better understand the other—whatever the social boundary is that needs to be crossed.” See how we can prepare for the future and strive for full inclusion—while also recognizing the power of identifying distinction—in the latest edition of Author Talks. — Katherine Tam, digital editor, New York Author Talks: The great American demographic shift Positive trends in immigration and fertility mean Black, Latinx, and other minority groups are on track to collectively account for more than 50 percent of the country’s population. Understand the changes Quote of the Day “When we create a sense of shared purpose, meaning, and commitment, when management invests deeply and consistently in people’s capabilities, employees have more energy. We are healthier. We are more committed to and engaged with our work.” —Rawi Abdelal, Professor of International Management at Harvard Business School in "In conversation: The CFO’s role in talent development" Chart of the Day See today’s chart Also New The CFO’s critical role in innovation By embracing discipline and well-defined processes, innovation teams can make finance leaders their biggest allies. Understand the shifts The new CFO mandate How finance leaders can reconcile and fulfill their growing portfolios of responsibilities. Understand changing responsibilities Navigating inflation: A new playbook for CEOs Few chief executives have faced the challenge of leading a company through an inflationary spike like today’s. Lessons from strong leaders and bold action can help CEOs make the decisions that only they can make. Make smart moves Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too.
Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:42 - 20 Apr 2022 -
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by "Online Events APAC" <onlineevents-apac@zohocorp.com> - 01:06 - 20 Apr 2022 -
How will the future of space affect life down on Earth?
McKinsey&Company
To the moon and back .A space odyssey to 2030 In the news • Space spending. The US spent nearly $200 billion on space in 2019, creating upward of 350,000 jobs. Many sectors are reaping double-digit growth from increasing investments in space-related activities. Yet despite being a burgeoning industry, space remains a small fraction of the overall economy. “We only spend half a percent of the economy on space and look what we have from it,” says one economist. Opportunities for innovation abound as manufacturing advances, technologies improve, and more companies build rockets and satellites. [Quartz] • Back to Earth. The number of satellites in space has increased astronomically in recent years. The images they provide are crucial to how we understand the climate crisis. Nearly 50 years’ worth of satellite data provide the long-term view, and newer satellites have sharper imaging capabilities that allow researchers to monitor the world’s changing atmosphere all the way down to the community level. These enhanced tools can help identify early indicators for extreme weather events and improve environmental monitoring. [Space.com] “Almost every week, it seems, a new space concept or flight is announced. About 70,000 satellites could soon enter orbit if proposed plans come to fruition.” On McKinsey.com • Complications in the cosmos. As companies and governments continue to explore the cosmos, people on Earth are likely to benefit. Someday, you might be able to connect to the internet from anywhere or travel on a rocket from New York to Paris in 30 minutes. However, these exciting advances also come with challenges. With costs decreasing for rocket launches, tens of thousands of new satellites could soon be sent into space. Satellites that aren’t deorbited could remain in orbit for centuries, leading to more space debris and potential collisions. • Tomorrow’s space economy. The space industry has come a long way, but where is it going in the next ten to 15 years? This edition of The Next Normal explores the space economy’s next decade through the perspectives of three McKinsey aerospace experts and four leading aerospace-industry executives. It also collates other takes on the sector, including topics such as R&D funding, space tourism, and commercial satellites. In the words of one expert, “If you don’t think you’re going fast enough, you’re not.” — Edited by Dana Sand Shoot for the moon Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:54 - 20 Apr 2022 -
The war in Ukraine and its impact on global food systems
the Daily read
Understand the issues .Share this email AN ARTICLE A DAY, PICKED BY OUR EDITORS The war in Ukraine continues to have devastating consequences—particularly for vulnerable populations, both within the conflict zone and beyond. Now, the war is converging with other disruptions—supply-chain strains, inflation, the pandemic—to pose a looming threat to our global food supply. The Ukraine–Russia region plays a vital role not only as an exporter of primary staples like wheat, but also as one of the major suppliers of fertilizer worldwide. As a result, caloric intake for tens of millions of people—potentially 60 million to 150 million, by 2023—is at stake. What does this mean for populations at risk and for the global food system as a whole? A new episode of The McKinsey Podcast delves into what might happen and what can be done to help. Be sure to check it out. — Joyce Yoo, digital editor, New York The rising risk of a global food crisis The war in Ukraine poses a looming threat to the worldwide food supply. Here’s what’s at stake—and what might be done to help. Understand the issues Quote of the Day “Diverse team members may need information presented in different ways, or they may ask different questions. Respecting those diverse needs allows the group to then see the subject from all angles—a hallmark of better decision making.” —Hiltrud Werner on how diversity affects resilience in “How Volkswagen board member Hiltrud Werner finds resilience” Chart of the Day See today’s chart Also New Tech talent tectonics: Ten new realities for finding, keeping, and developing talent Large incumbents can compete successfully for tech talent—but only if they’re ready to completely rethink their entire HR approach. Tech talent think and act differently. Don’t miss out How industrial and aerospace and defense OEMs can win the obsolescence challenge Complex equipment can last for decades, but internal components such as semiconductors have much shorter life cycles. Navigating that disparity requires a systematic approach. Increase durability Viewing change as opportunity: An interview with Western Digital’s David Goeckeler David Goeckeler took the reins at Western Digital days before COVID-19 was declared a pandemic—and helped the company rekindle its innovation road map in the face of massive change. Navigating difficulty Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too.
Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:50 - 19 Apr 2022 -
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by "Max from New Relic" <max.francisco@newrelic.com> - 12:02 - 19 Apr 2022 -
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by "Online Events APAC" <onlineevents-apac@zohocorp.com> - 02:38 - 19 Apr 2022 -
The $1.5 trillion wellness industry is growing fast. Here’s what to know.
McKinsey&Company
Learn how wellness is evolving .Wellness matters In the news • Return-to-work jitters. Now that companies are asking remote workers to return to the office, therapists say that their clients are frequently worried about what to say and how to behave around colleagues. Social anxiety can cause feelings of dread, an elevated heart rate, and shortness of breath. Some actions can help: for example, meeting with coworkers before you’re expected back at the office can ease jittery feelings. Similarly, bringing a memento from home (like a favorite picture) can make your work space feel more comfortable. [WaPo] • Clear out ‘emotional clutter.’ After more than two years of living with the COVID-19 pandemic, many of us may need to take stock of where we’ve been and where we’re going. The welcoming of spring makes this an ideal time to revitalize our lives and reconnect with our purpose, mental-health experts say. Writing in a journal can help people track goals, improve focus, and strengthen well-being. In addition, reaching out to long-lost friends to reestablish a connection can provide the social support we all need. [NYT] The wellness market is booming. Consumers intend to keep spending more on products that improve their health, fitness, nutrition, appearance, sleep, and mindfulness. On McKinsey.com • A bossy refrigerator. Each year, consumers spend around $1.5 trillion on wellness. As the industry continues to grow, consumers are likely to seek more control and personalization from wellness products and services. For instance, right now, people who want a better night’s rest can put sensors under the mattress that track how much they’re moving around. In the future, imagine your refrigerator making suggestions based on your sleep data (for instance, saying “don’t make coffee” after a certain time of day). • A ‘sea change’ in eating. How we eat is changing fast, says McKinsey senior partner Jessica Moulton. People are scrutinizing food labels and want to eat more sustainably. About 35% of consumers in Germany, the UK, and the US are drinking plant-based milk, and half of them started fairly recently, says Moulton. “That’s quite a sea change—much faster than we usually see—in the way we eat, and we think it’s going to continue,” adds Moulton. Explore our collection page on the future of wellness. — Edited by Belinda Yu See what’s next in wellness Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:16 - 19 Apr 2022 -
อัพเดทโปรไฟล์วันนี้ รับฟรี Grab Food! จาก ชไนเดอร์ อิเล็คทริค
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