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90 percent of CEOs regret how they handled their transition to power—here’s how to turn that time into a win
Harmony Internal - McKinsey
Don't make it about you Yes, I'm still interested Edited by Sarah Skinner
Editor, New YorkQuote of the day
Chart of the day
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:17 - 17 Nov 2022 -
‘It will be a paradigm shift’: Daphne Koller on machine learning in drug discovery
Harmony Internal - McKinsey
Collaborate now Yes, I'm still interested New from McKinsey & Company
‘It will be a paradigm shift’: Daphne Koller on machine learning in drug discovery
Collaborate now Share these insights
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by "McKinsey & Company" <publishing@email.mckinsey.com> - 12:04 - 17 Nov 2022 -
activNews
activNews
Welcome to activNews, bringing you all of the latest news, insights and advice from the team at activpayroll.activpayroll Newsletter
Welcome to our November newsletter
This month we are taking a look a one of the hot topics facing businesses across the globe - the Great Resignation. Kirsten Wright our Head of Global HR Solutions shares her views on the challenges it presents to business.
In this edition we are also featuring feedback from our first Client Advisory Group and introducing you to our sales team.
Thank you for taking the time to read our newsletter. If you would like to find out more about activpayroll and the services we offer please take a look at our website
The Great Resignation
The Great Resignation has been a highly topical issue in recent times, and it is still very much to the forefront of HR professionals’ minds, despite the outlook on the economy.
In today’s post pandemic world, the pillars of 9 to 5 office working are deteriorating, with employees no longer willing to sacrifice quite as much of their lives for work as generations before them were. People have changed their view of work, with a greater emphasis on working to live and they are subsequently placing more value on a happy fulfilling life. Find out how Kirsten Wright Head of Global HR Solutions views the challenges and solutions for your business.
Update - Client Advisory Forum
Industry experts from our customer base attended our first Client Advisory Group with participants from across the globe this October.
Discussions focused on:
Current market opportunities and challenges
Listening to the voice of the customers in informing our outcome based roadmap
Features of great Client Experience
Stephen Wratten, our Head of Product Management said: ‘We saw strong alignment with customer needs and our roadmap. Key themes included a need for global tax advice in the ever changing global payroll world, real time reporting for decision making, automation, and the power of building professional networks
‘We will be including the feedback into our roadmap and service decisions and are already planning the next session!’
If you are interested in being part of future Advisory Group sessions please get in touch
“I really did enjoy the session and felt that it was extremely beneficial and great to have such like minded people on the call together” Lisa Williams, Coupa
We let our customers do the talking…
The Rewards shortlist
We are delighted to reveal that we are finalists in The Rewards 2022, Best Employer category read more
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As always, you can keep up-to-date with all of our latest news, insights and team updates over on our social media channels.
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by "Lynn Smith" <PR@activpayroll.com> - 06:14 - 17 Nov 2022 -
The rewards of hybrid work are myriad, especially for diverse teams
Intersection
Hello, hybrid, our new friend Edited by Justine Jablonska
(she/her/hers)
Editor, New YorkYes, I'm still interested Insights and strategies to nurture diversity, equity, and inclusion in the workplace. In your mailbox every two weeks.
Hybrid work isn’t going away. That’s great for diverse workforces, but not so great for building a more inclusive work culture, as we reveal in this issue. We also examine the workplace perk that employees want most (hint: it’s not coffee or free lunches), and why setting a vision for flexible work is so important. Plus, a celebration of Native American Heritage Month, and our take on one reader’s question about managing resistance to change.
Hybrid work may create an
unequal playing fieldSPOTLIGHT
DATA DROP
To attract and retain top talent, an inclusive culture is increasingly becoming a competitive advantage.
LISTEN IN
What do workers really want? Flexibility—especially as workplaces become more diverse. The purpose and design of the office of the future may need to change accordingly. While this shift in workplace design largely took hold during the COVID-19 pandemic, it had been in the works for a decade prior, according to McKinsey’s Phil Kirschner. Now, with so many workers untethered from their desks and managers rethinking how to best measure productivity, organizations have an opportunity to embrace a wider variety of spaces than ever before. Listen to a recent episode of the McKinsey Talks Talent podcast to learn more about designing and configuring offices that match your organization’s tasks, roles, and culture.
MAKE IT RIGHT
The nature of work has changed—and so have expectations about work. Most employees don’t want to work in the office five days a week, and executives are listening. But managing in a hybrid environment marks a considerable shift for most leaders. McKinsey has found that four management shifts, which include managing performance through impact, outcomes, and ownership, are proving helpful for both employers and employees. And since our research shows that two-thirds of companies don’t have a detailed plan or approach for hybrid work, setting a vision for hybrid work is another critical area for leaders to consider.
CELEBRATING NATIVE AMERICAN HERITAGE MONTH
Native American Heritage Month is observed in the United States throughout November. This monthlong tribute to the rich ancestry and traditions of Native Americans began in 1915 as a single and unofficial day of recognition for “First Americans.” It wasn’t until 1990 that a joint Congressional resolution designated November as National American Indian Heritage Month. Visit the US Library of Congress’s Native American Heritage Month website to explore digital exhibits and collections: you can listen to panels from events like the Mother Tongue Film Festival, hear a song in Yup’ik (one of the languages spoken by Indigenous people of western and southwestern Alaska) that dates back to 1777 about a vision of a sailing ship, find local in-person events, and explore historical and modern-day images. And for audiophiles, a new podcast from Bloomberg, In Trust, explores the Native American tribe Osage Nation, which, in 1872, purchased a prairie in northeast Oklahoma the size of Delaware. Today, much of this land, known as Osage County, no longer belongs to the Osage Nation people. Learn more about what happened in this wonderfully complex and thoroughly engrossing series.
ASK INTERSECTION
One of our readers asks, ‘How can I get buy-in—and manage resistance—when driving cultural change in my organization?’
Thank you for writing in! Let’s start by acknowledging that change is never easy. And resistance, while part and parcel of the change process, can add to the difficulty of enacting substantive change. The good news is that there are plenty of resources for leaders seeking to bring their people on board. To start, senior partner Kirk Rieckhoff shares broadly applicable insights about organizing change within federal government—and challenges the notion that change should ever be easy. Next, learn how to prepare for and lead a change journey, which, as journeys go, often don’t go according to plan (an important insight in itself!). Along the way, it will be essential to harness positive influence for good, especially as you’re addressing the causes (rather than the symptoms) of the problems you’re trying to solve. Finally, our collection of insights about change management addresses areas such as harnessing resources effectively, engaging team members efficiently, and tapping into your ability to influence change.For McKinsey’s latest thinking on diversity, equity, and inclusion, visit our Diversity, Equity & Inclusion collection page.
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by "McKinsey Intersection" <publishing@email.mckinsey.com> - 01:11 - 17 Nov 2022 -
What will it take to reach net zero in the most emission-intensive industries?
On Point
Decarbonizing nine key sectors Yes, I'm still interested Edited by Alexandra Mondalek
Editor, New York• Green light, go. One of the critical sectors to decarbonize is the automotive industry, which is experiencing a sea change. By 2035, nearly 100% of sales of new passenger vehicles in the world’s largest auto markets will be electric. But even with existing momentum, producers and manufacturers must create supporting infrastructure, such as charging stations and hydrogen-fueling stations. New supply chains and manufacturing capabilities are also needed to make low-emission vehicles, say McKinsey senior partner Andreas Cornet and coauthors.
• Getting to net zero. In addition to the auto industry, several sectors have already begun their transformation to a greener future. Consider the steel industry: demand for low-emission steel could rise to almost all steel production by 2050. But it will also require investments in technological and operational advances to get there, say senior partner Michel Van Hoey, partner Benedikt Zeumer, and colleagues. See our collection page for a net-zero guide for nine key industries.
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:29 - 17 Nov 2022 -
[Invite] Best of MAX for Business Webinar
Adobe
Catch all the key highlights from Adobe MAX 2022Best of MAX Business Webinar
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Sydney 3.00pm | Singapore 12.00pm | India 9.30amCreate with speed & precision. Collaborate seamlessly.
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by "Adobe Creative Cloud for Business" <demand@info.adobe.com> - 09:08 - 16 Nov 2022 -
How a skills-based approach can strengthen the workforce
Harmony Internal - McKinsey
Break the mold Yes, I'm still interested Edited by Stephanie d’Arc Taylor
Editor, Southern CaliforniaReplenishing the labor pool. It’s well understood by now that the pandemic rewrote the rules of the labor market. COVID-19 ushered in a whole new lexicon we use to talk about work in the modern era: the Great Attrition, quiet quitting, WFH, video call shirt. The shakeup has been difficult for many. But it’s also an opportunity to reexamine the way we work, from hiring, to mentoring, training, and promoting. A new, skills-based approach—rather than the traditional reliance on degrees and job titles—can help organizations not only sustain a more inclusive workforce, but build resilience through economic uncertainty. In a new article, McKinsey partner Bryan Hancock, senior partner Jonathan Law, and their coauthors analyze research McKinsey conducted in partnership with the Rework America Alliance to offer organizations lessons on how to build a skills-based employment approach. Check it out and see how employers and workers can both benefit from this new workforce normal.
Quote of the day
—McKinsey partner Tim Koller on how companies can improve their decisions in a recent episode of the Inside the Strategy Room podcast
Chart of the day
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:08 - 16 Nov 2022 -
How to accelerate B2B sales growth during turbulent times
Re:think
Accelerate B2B sales growth Many senior sales executives of B2B companies—including manufacturing, financial services, and consumer goods—are struggling with uncertainty right now. What do all the changes in the economic environment mean? What about logistics disruption and all the challenges of supply chain management?
In sales, your performance is measured by hitting your quotas and targets. Often, the ability to do that is not due to a new partnership or new business idea. It’s about understanding where there’s enough momentum for rapid revenue acceleration.
The first thing B2B sales leaders should do is to truly understand where their deals stand. Which are the most important? The most likely to close? The most profitable? What, if anything, is delaying them? Look at the facts and the data. Once you do that, you can identify and prioritize maybe ten, 15, or 20 attractive deals in the pipeline that are pretty advanced, but not quite ready to close. Those are the deals where you might accelerate a decision and affect the outcome.
Tactically, what does that mean? There are a couple actions you can take. The first one is to adjust your value proposition. In times of uncertainty, many buyers are hesitant because they want to keep options open. Sellers can provide flexibility for their customers. The value proposition might be that a client is not ready to sign a large contract, but they might be OK with signing something smaller. A client might not be ready to buy all 15 elements of an offering, but they might be ready to buy five or ten. The client might not be ready to commit to a long-term payment plan. Instead, they might want flexibility to make some decisions now and leave the door open to make other decisions later. Adjusting the value proposition means potentially changing an actual offering itself, as well as some of the terms and conditions. You need to meet your customer where they are right now.“In times of uncertainty, many buyers are hesitant because they want to keep options open. Sellers can provide flexibility for their customers.”
The other thing to do is to create a “win room.” Select a group of cross-functional colleagues—from pricing, marketing, and product, plus some leaders of the organization. Get them together in a room, say, on Tuesdays and Thursdays for one hour each time. And bring in the 15 deals. The account executive who owns the deal will come to the table and say, “This is the deal. This is what we need. These are the decision makers, and these are the roadblocks that we’re running into.” Roadblocks can be that the deal is not the right size, or the deal is too expensive. Maybe you’re not meeting the buyers’ needs, or there’s an incumbent vendor already in there and it’s hard for you to replace them.
Internal sales cycles take a tremendous amount of time and energy. Lots of homework needs to happen beforehand. By having a win room, you’re accelerating the sales cycle. When you get the right set of decision makers in the room to talk about the top deals that are the most time-pressing and critical, you create a cadence where you’re accelerating that momentum by several weeks. You can have a huge impact, both in the terms and the timing of a deal.
You can make quick and dirty changes. You don’t have to have beautiful dashboards that pop up. One client had supply chain issues and products that were out of stock. They came up with a simple rule that when a product came back in stock, an email would be generated and sent to every seller saying, “The product’s back in stock. Here are customers who were interested in this product. Call them now and sell it.” Over time, they integrated that into the CRM system with all the fancy bells and whistles. But don’t wait to have the pretty system before you start activating plans.
The difference between now and previous times of uncertainty is that all of us have learned that things change, and we need to be more agile and nimble. Organizations are now much more sophisticated at identifying and trusting the data that truly matter. We know that customer expectations continue to increase: customers expect to have an omnichannel experience where they can go to a website, talk on the phone, or have access to the head of sales. In a B2B sales world where you add complexity to uncertainty, how do you keep all the pieces of the puzzle together? The sales executives I work with today have gotten much closer to the customer. More leadership engagement and cross-functional ways of working, along with better data, make for a much better sales experience.ABOUT THE AUTHOR
MORE FROM THIS AUTHOR
UP NEXTDavid Hamilton on operational excellence
How can companies achieve operational excellence? It starts by taking a deep look at how organizations set up teams to deliver on purpose, strategy, and vision.
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by "McKinsey Quarterly" <publishing@email.mckinsey.com> - 01:18 - 16 Nov 2022 -
Webinar: Sangoma 3rd Party Integration: All You Should Know
Webinar: Sangoma 3rd Party Integration: All You Should Know
Join this webinar to know everything about Sangoma's 3rd Party Integration Webinar Alert:
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In this complimentary webinar we will showcase Sangoma's seamless integration with 3rd party business tolls like MS Teams. In this 60 minutes webinar, our business and technical experts will explain updated features and benefits that your business will get with this integration.
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The world has entered a new phase of climate finance. What new goals must be met?
On Point
Highlights from our COP27 panels Yes, I'm still interested Edited by Belinda Yu
Editor, Atlanta• A new phase. Over several panels held around the 2022 UN Climate Change Conference (COP27), McKinsey experts and special guests explored opportunities and challenges around financing the net-zero transition. The world has entered into a new phase of climate finance, said McKinsey senior partner Dan Stephens. Climate finance during the past decade has been focused on renewable power, setting standards, and getting commitments from the private and public sectors. This new phase of climate finance will need to accomplish new goals, including advancing climate tech.
• Trillions to transition. An additional $3.5 trillion of capital a year through 2050 is needed to help decarbonize hard-to-abate sectors and accelerate climate technologies. Yet investors recognize that the energy transition remains a stable long-term investment. In 2022, renewable energy attracted roughly $500 billion in investment, exceeding fossil-fuel investment for the first time ever, noted senior partner Jukka Maksimainen. See more highlights from our COP27 panels, including how government policies can help accelerate green investment.
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:34 - 16 Nov 2022 -
New-business building is top of mind in 2022 despite volatile times
Harmony Internal - McKinsey
Get the support Yes, I'm still interested Edited by Joyce Yoo
Editor, New YorkIt’s an exciting time for new-business building. According to a new McKinsey Global Survey, building new businesses is a top priority for CEOs despite economic volatility, and more new businesses are being built per year now than in the past two to five years. While this presents new opportunities for innovation and growth, companies will need to ramp up the number of businesses they build—and do it quickly—to meet the revenue expectations for the years ahead. Explore the survey led by Markus Berger-de León, Shaun Collins, Ari Libarikian, Ralf Dreischmeier, and Belkis Vasquez-McCall, and learn what over 1,000 business leaders in 75 countries are planning.
Quote of the day
—Jacqueline Brassey, senior knowledge expert and coauthor of the new book Deliberate Calm, on the two types of necessary awareness in a recent episode of The McKinsey Podcast
Chart of the day
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:52 - 15 Nov 2022 -
You're invited to join “Electricity 4.0: The Fastest Route to Net-Zero”
Schneider Electric
Let's build a more digital, more electric worldEnergy is at the core of solving the climate crisis. Over the last 200 years, it has been by far the biggest contributor to rising carbon emissions. Today, it represents our best opportunity to turn things around.
Join “Electricity 4.0: The Fastest Route to Net-Zero,” an Innovation Talk live stream on November 29, 2022, at 2:00 PM CET, to hear why digital and electric are the best means to fight climate change with the technology we have.
The session will discuss:
- The significance of energy management in the climate challenge
- How demand-side measures (process electrification, energy efficiency) are critical to rebooting and decarbonizing the energy system
- How to accelerate your journey to net-zero
When?Tuesday, November 29 at 2:00 PM CETWhere?Live stream on LinkedIn+ Lifecycle Services From energy and sustainability consulting to optimizing the life cycle of your assets, we have services to meet your business needs. Schneider Electric
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by "Schneider Electric" <reply@se.com> - 11:14 - 15 Nov 2022 -
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by "Canva" <no-reply@canva.com> - 09:56 - 15 Nov 2022 -
Axle-Load Sensor - White Label GPS Tracking Software
Axle-Load Sensor - White Label GPS Tracking Software
Start your profitable GPS tracking business.Axle-load Sensor: Monitor Cargo Weight
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Verify the cargo weight accurately to prevent overweight fines and underhand cargo theft. Get better performance and efficiency with proper weight distribution.
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Underweight or overweight cargo
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Improve fuel economy
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Load status
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Fleet Management Platform That Grows With You
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by "Jignesh Pardeshi" <official@uffizio.in> - 04:00 - 15 Nov 2022 -
Materials are the next net-zero frontier. Which green-materials premiums are emerging?
On Point
Consider our green-materials forecasts Yes, I'm still interested Edited by Belinda Yu
Editor, Atlanta• Going green. Materials value chains make up roughly one-fifth of global greenhouse-gas emissions. As consumers, manufacturers, and governments call for increased sustainability, demand for low-carbon materials is growing. For several commodities, green premiums are already emerging and will increasingly shape supply and demand, explain McKinsey senior partner Michel Van Hoey and colleagues. In the past decade, high-quality recycled plastics reached an average premium of up to 60% over virgin plastics for some products.
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:30 - 15 Nov 2022 -
Monitor Driving behaviour - White Label GPS Tracking Software
Monitor Driving behaviour - White Label GPS Tracking Software
Start your profitable GPS tracking business.Eliminate problematic driving habits and ensure fleet safety
65+ countries | 500,000+ units | 50,000+ happy customers
Tracker independent | Supports multiple language
Drivers are the most important part of any fleet operation. Video telematics empowers fleet managers with powerful behaviour monitoring tools to ensure the safety of drivers.
Standard benefits
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safety
Eliminate dangerous driving habits like smoking, aggressive acceleration,
harsh braking, rapid
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Identify distracted or
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45% of all road accidents are caused
by inattentive or drowsy driving.
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Lighting a path forward for operations innovation
Harmony Internal - McKinsey
Get ready for a revolution Yes, I'm still interested Edited by Sarah Skinner
Editor, New YorkToo many companies get stuck in "pilot purgatory"—they try to develop use cases, solutions, and applications, but struggle to scale new approaches or technology effectively. When the World Economic Forum, in collaboration with McKinsey, launched the Global Lighthouse Network in 2018, its goal was to make global production operations more efficient and effective while also positively impacting people and the planet. By identifying "lighthouse" companies that have used Fourth-Revolution technology to make transformations work ahead of the curve, the initiative has helped propel an operations revolution forward. The network has grown from just 16 lighthouses to over 100, with sights set on many more. Don't miss a new episode of the McKinsey Talks Operations podcast featuring senior partner Enno de Boer on improving engagement, productivity, and sustainability while lighting the way for the future of operations.
Quote of the day
—McKinsey partner Gayatri Shenai on managing a team member going through a mental health challenge in a new episode of My Rookie Moment
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:07 - 14 Nov 2022 -
Toward a sustainable, inclusive, growing future: The role of business
Harmony Internal - McKinsey
Prioritize what’s to come Yes, I'm still interested New from McKinsey & Company
Toward a sustainable, inclusive, growing future: The role of business
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by "McKinsey Global Institute" <publishing@email.mckinsey.com> - 04:58 - 14 Nov 2022 -
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Can this strategy be saved? A leader’s guide
Harmony Internal - McKinsey
Bad idea Edited by Rama Ramaswami
Senior Editor, New YorkStrategy is a venerable discipline in management, and leaders have access to a wealth of guidance on the topic if they need it. Many classic strategic and organizational frameworks are still relevant. Yet bad strategy continues to plague companies—it may even be a “social contagion,” according to a recent McKinsey Inside the Strategy Room podcast. Theories abound as to why good companies make bad strategic decisions—behavioral economics offers some insights, for example—but ultimately, leaders may need to rely on their own judgment. These signposts may help.
“In business, as in poker, there is uncertainty, and strategy is about how to deal with it,” says McKinsey senior partner Sven Smit in this article on how to increase the probability of your strategy’s success. “An assessment of your odds—in terms of competitive, market, or regulatory factors—needs to be part of your calculation,” he suggests. Overall, the odds don’t look good: McKinsey research shows that over a ten-year period, only 8 percent of companies move from the middle to the top quintiles of performance. But in the strategy room, the tendency among leaders is to ignore probabilities and try to push toward certainty. “The odds for individual companies vary widely,” says Smit. “The obvious questions for CEOs, managers, and investors, of course, are: What is my strategy’s probability of success, and what actions can we take to improve that probability?”
That’s management guru Gary Hamel on the natural death of strategies, often stemming from replication or destruction by competitors. “Like human beings, strategies start to die the moment they’re born,” he writes in this Wall Street Journal article. “With the right metrics, strategy decay is largely predictable, though few companies bother to track it.” By failing to anticipate the eventual decline of strategies that once made them successful, companies hasten their own decline, in Hamel’s view, and “the only way a company can renew its lease on success is by reinventing itself root and branch, before it has to.”
‘To make any story interesting, you need a villain,’ says McKinsey senior partner Chris Bradley in this podcast on moving strategy into high gear. In strategy, the villain is the “social side,” he says. “When you get to the strategy room, you find it crowded with all sorts of stuff. There are negotiations, there are egos, there are last year’s plans. There are other people, and you want to look good to them. There is so much else going on than just strategy.” Bradley suggests eight practical changes to strategic planning that can overcome social games and help organizations advance up the “power curve” of economic profit to the top quintile, where a small percentage of companies capture most of the profit. For example, leaders may want to consider debating alternative strategic plans rather than a single proposal. “Most companies don’t work like this,” says Bradley. “Their strategies are framed more around promises and financial goals than they are around choices.”
Corporate jargon is often the target of mockery, but it does serve a purpose. After all, at some time or other most of us have thought out of the box, gotten our ducks in a row, or taken things offline. But using harmless buzzwords as office shorthand is one thing; it’s quite another to choke your strategy statement with them. A “hallmark of mediocrity and bad strategy is superficial abstraction—a flurry of fluff—designed to mask the absence of thought,” says UCLA management professor Richard Rumelt in this McKinsey article. “Fluff is a restatement of the obvious, combined with a generous sprinkling of buzzwords that masquerade as expertise.” We’re on the same page.
Lead strategically.
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by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 02:27 - 14 Nov 2022