You're' invited 🎙 Webinar: Remote for refugees

Hi MD,

You are invited to join Remote's VP of Special Operations, Filipa Matos, Senior Product Marketing Manager, Peter Maher, and Lorraine Charles, the Co-Founder and Executive Director of Na'amal, for our next webinar.

🎙 Webinar: Remote for refugees

Date: 20th June

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

What will you learn?

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

Speakers:

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

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by "Remote" <hello@remote-comms.com> - 10:02 - 8 Jun 2022

Don't Miss Out On This Live Webinar On How are AI dashcams transforming transport management systems?

Live Webinar - Register for Free!!!

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

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

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

June 2022

16

Thursday

15:00 IST (Indian Standard Time)

Free Register

Agenda

1. Company profiles

See what Uffizio and Howen Technologies have to offer you.

2. Why does the transport industry need AI dashcams?

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

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

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

4. Howen reveals their new Smart AI dashcams!

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

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

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

6. Question and Answers

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

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Speakers

Kamini Baghel
Customer Success Executive,
Uffizio

Shamy Luo
Product Manager,
Howen Technology

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by "Uffizio Technologies Pvt Ltd" <official@uffizio.in> - 08:29 - 8 Jun 2022

How is the war in Ukraine changing the world? See the effects in 12 charts.

McKinsey&Company

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

Ripple effects

In the news

•

The great shake-up. The war in Ukraine has set off a chain of reactions that is reshaping the whole world. Some countries, particularly in Africa and the Middle East, are experiencing huge price spikes in wheat, cooking oil, and other agricultural products. The exodus of 5.8 million Ukrainian refugees, shortages of natural gas and oil, and political and military realignments mean that life is changing in profound ways across the globe. [NPR]

•

Economic repercussions. The Ukraine invasion’s domino effect on the world economy is gradually becoming clear. The IMF and World Bank have both cut global growth forecasts, citing the war’s impact on the price of commodities traditionally supplied by the region. Central banks are attempting to tame inflation with aggressive interest rate hikes, which is rattling financial markets. The situation is also intensifying supply and demand imbalances and harming consumer sentiment. [CNBC]

The war is aggravating financial-system risks such as inflation-led recession, a deflating bubble in China’s property sector, and gridlock in the payments system.

On McKinsey.com

•

Facts and figures. In 12 charts, McKinsey examined the consequences of the war in Ukraine for society and the global economy. A few headline numbers: a key index of food prices could rise by as much as 45% this year, McKinsey analysis suggests. In 2021, Europe imported 36% of its gas from Russia; the continent could reduce this to 10% this year. About 80% of Western tech firms have exited Russia or are scaling back, while more than 60% from other parts of the world are staying put.

•

Twelve disruptions. The war’s effect on supply chains and on the future of globalization is multifaceted, dynamic, and will depend on its duration and intensity. McKinsey has put data behind our view on how several scenarios are likely to play out. “Just in time” supply chain management is giving way to “just in case” approaches. Global tech standards are now more likely to separate than to unify. Defense spending is on the rise. Explore 12 disruptions that are changing our world.

— Edited by Katy McLaughlin

See the big picture

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:22 - 8 Jun 2022

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

Hey Abul!

On June 14th, we are hosting a webinar to explore key findings from the recent IDC MarketScape research on Automated Software Quality and Continuous Testing.

Join us for this informative panel discussion with guest speaker Melinda-Carol Ballou, IDC Research Director, and SmartBear Senior VP of Product Marketing Joanna Schloss.

Highlights include:

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

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Cynthia Gumbert

P.S. We will be sharing a recording of the live session after the event in case you cannot attend!

by "Cynthia Gumbert" <cynthia@smartbearmail.com> - 09:40 - 7 Jun 2022

The latest on inflation, world trade, and unemployment in China

the Daily read

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AN ARTICLE A DAY, PICKED BY OUR EDITORS

Inflation is everywhere and its effects are being felt all over the globe. The latest update on McKinsey’s Global Economics Intelligence explores rising food and energy prices, slow GDP growth and growing unemployment in China, a slowdown in world trade, an increase in interest rates, the World Economic Forum (WEF)’s meeting in Davos, and more. For a deeper dive on the key issues affecting the world economy, be sure to check out the full Global Summary Report and the Critical Trends and Risks.

— Joyce Yoo, digital editor, New York

Global Economics Intelligence executive summary, May 2022

Central banks move against inflation; US industry expands while China’s economy contracts amid COVID-19 measures; supply challenges persist.

Get updated

Quote of the Day

“The healthcare industry is being rewired across the entire patient journey. . . . The intersection of healthcare with the digital sector is accelerating this transformation. The pandemic acted as a catalyst, making people more fluent in using digital technologies and more receptive to virtual engagement.”

—Lidia Fonseca, Chief Digital and Technology Officer at Pfizer in “How digital helps a life sciences leader move at light speed”

Chart of the Day

Chart of organizational investment in remote-first service options

See today’s chart

Also New

Image of massive freeways with Houston skyline in background

Houston as the epicenter of a global clean-hydrogen hub

Clean hydrogen is emerging as a viable way to reach net zero. In the United States, clean-hydrogen efforts in Houston, Texas, could serve as a template for other regions.

Read the report

Author Talks: Think digital

People have long worried about being replaced by machines, but Tsedal Neeley says the true threat to job security in the digital age is other humans—namely those who know how to use digital tools.

Improve your skill set

Fear factor: Overcoming human barriers to innovation

Worries about failure, criticism, and career impact hold back many people from embracing innovation. Here’s how to create a culture that accounts for the human side of innovation.

Embrace new possibilities

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 05:14 - 7 Jun 2022

MD, Today's 🎙 webinar starts in less than 1 hour.

Hi MD,

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

Starts in less than 1 hour.

There is still time to join us

What will you learn?

How to create team structures that facilitate healthy working hours
Which benefits and programs can improve life-work balance
How to build psychological safety within remote teams
How to identify and prevent burnout before it happens
Where asynchronous workflows can help

Speakers:

Amanda Day - Director of People Enablement
Preston Wickersham - Senior Content Marketing Manager
Claire Walsh- People Enablement Partner
Tarrah Nhari - CX Program Manager

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by "Remote" <hello@remote-comms.com> - 10:32 - 7 Jun 2022

Level up your Kubernetes observability with New Relic

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by "New Relic" <emeamarketing@newrelic.com> - 04:37 - 7 Jun 2022

Dragging yourself out of bed? Eight questions can help address employee burnout.

McKinsey&Company

Battling burnout

In the news

•

A sacred pause. For many entrepreneurs, extreme exhaustion is a familiar feeling, but burnout is also becoming commonplace for everyday workers. Still, making some changes can help. Besides finding a therapist, it’s important to learn what activities recharge you and set aside time for them. One CEO suggests creating “a very sacred pause” in the week, such as Friday night dinners, to help people relax and be present. When discussing burnout with your boss, explaining why your request is good for the company can convey confidence. [Bloomberg]

•

It’s complicated. In March 2022, around 4.5 million US workers quit their jobs. A growing number of unfilled roles can complicate life for the colleagues who stay. Half of US workers who responded to a 2021 survey said they had to accept more responsibilities after a former coworker left. With burned out workers resigning in search of better work–life balance, executives say companies need to figure out what to do now. Increasing flexibility in work schedules, supporting caregivers, and listening with empathy can help increase engagement and retention. [FT]

Across the 15 countries in our survey, toxic workplace behavior is the single largest predictor of negative employee outcomes, including burnout symptoms.

On McKinsey.com

•

A disconnect. Employers are responding to unprecedented levels of burnout by investing in a multitude of wellness programs. Across the globe, four in five HR leaders say that mental health and well-being is a top priority, a McKinsey Health Institute survey reveals. Yet in many cases, employee attrition and burnout remain stubbornly high. Why the disconnect? McKinsey research suggests that many employers focus on relieving symptoms of burnout among individuals but don’t deal with solving the root causes of burnout in the workplace.

•

Burnout’s biggest predictor. Employees who report experiencing high levels of toxic behavior in the workplace are eight times more likely than their peers to have symptoms of burnout, according to McKinsey Health Institute’s survey of nearly 15,000 employees and 1,000 HR leaders. Burnout is costly: respondents who have symptoms such as extreme tiredness are also six times more likely than others to say they intend to quit their jobs in the next three to six months. Explore eight questions that can help organizational leaders address burnout at work.

— Edited by Belinda Yu

Prevent workplace burnout

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:36 - 7 Jun 2022

Don’t be afraid of innovating

the Daily read

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AN ARTICLE A DAY, PICKED BY OUR EDITORS

Fear is a natural emotion and something we’ve all experienced at some point in our careers. While fear can sometimes motivate us to act boldly, it can also stand in the way of us achieving great things. In a recent survey, 85 percent of executives said that fear holds back innovation efforts often or always in their organizations. How can companies cultivate a culture of innovation while recognizing the role of fear? Be sure to check out a new article to explore the five ways to move past these barriers and drive growth.

— Joyce Yoo, digital editor, New York

Fear factor: Overcoming human barriers to innovation

Worries about failure, criticism, and career impact hold back many people from embracing innovation. Here’s how to create a culture that accounts for the human side of innovation.

Embrace new possibilities

Quote of the Day

“When we enter the digital mindset arena, we have to change how we frame everything that we do. It’s a process of changing how we think—how we think about collaboration, how we think about computation, and how we think about change.”

—Tsedal Neeley, Naylor Fitzhugh Professor of Business Administration at the Harvard Business School, in a new Author Talks interview

Chart of the Day

See today’s chart

Also New

photo of hand holding grocery receipt in front of shopping cart

Navigating inflation in retail: Six actions for retailers

Retailers are facing the possibility of persistent inflation—but they can meet that challenge in ways that streamline operations, retain customers, and drive profitable growth.

Weather the storm

Failure is not an option: Increasing the chances of achieving net zero

Countries and companies globally are taking action to pursue net-zero emissions, but their plans could easily be derailed by myriad factors. Here are some considerations for helping to keep them on track.

Monitor and adapt

How to be a great 21st-century CEO

What do CEOs do? Why do they do it that way? And what matters most?

Learn to lead

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:34 - 6 Jun 2022

Is your leadership training effective? A leader’s guide

Leading Off

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ESSENTIALS FOR LEADERS AND THOSE THEY LEAD

Leadership development programs are a thriving business. Prior to the COVID-19 outbreak, the market was estimated to be worth more than $50 billion, and it is one of the few learning and development markets that continues to grow despite other economic trends. Yet over the decades, organizations have been consistently dissatisfied with the results of their leadership training efforts. For example, only 11 percent of executives in a McKinsey study believe that their leadership development interventions achieve and sustain the desired results. Strong leadership is more critical than ever as the world grapples with crisis and uncertainty. This week, let’s explore what’s missing in leadership training programs and how to adjust them to the needs of a new generation of leaders.

AN IDEA

Illustration of two people leading a workplace seminar

Be rigorous and specific in your training efforts

A one-size-fits-all program that develops generic leadership competencies is unlikely to suit the unique objectives of your organization. One company held a workshop to help leaders foster a “more global mindset”—with little discussion as to why a global mindset was essential to the company strategy to begin with or what participants should do differently in their daily work. A more effective approach is to rigorously connect your organization’s objectives with the critical leadership behaviors needed to achieve them. For example, an oil and gas company might emphasize operational discipline and safety, whereas a private-equity investment firm might value swift decision making and action. Clearly identify the gap that the leadership development program needs to fill, and focus on a few priority behaviors rather than making sweeping changes all at once.

A BIG NUMBER

20

That’s the number of fundamental leadership traits that correlate closely with organizational performance and should be at the center of any leadership development program. These characteristics include simple but effective tactics such as facilitating group collaboration, giving praise, and being supportive; in turn, they fall under the four broader leadership qualities of insight, integrity, courage, and agility. Collectively, these four attributes have the power to drive the kind of sustained innovation that can take organizations in bold new directions.

A QUOTE

“Corporations are victims of the great training robbery.”

With that provocative statement, the authors of this Harvard Business Review article launch into a critique of why most leadership development programs don’t deliver a good return on investment. A key reason is context: even highly motivated participants fail to apply what they have learned because their units are still entrenched in the old ways of doing things. Individual development, therefore, needs to come after organizational redesign. And since each region, function, and operating group has its own unique needs, senior leaders should consider a unit-by-unit change strategy that integrates individual education with organizational development objectives. Context is a critical element of successful leadership, and providing it involves equipping leaders with a small group of capabilities that will make a significant difference to performance.

A SPOTLIGHT INTERVIEW

“We need to prepare the leaders of the future—people who are going to return this country to a better place,” says former presidential adviser David Gergen. In this McKinsey Author Talks interview, Gergen calls for a younger generation of leaders to tackle urgent issues such as economic challenges, racial inequities, and climate problems. He advises that doing so will require a hard head and a soft heart: “Both things are important. You do need someone who’s tough. . . . [But] an important element of leadership today is to understand the little guy, to understand the women who’ve been discriminated against, to understand the people of color who’ve been discriminated against, and to join them in trying to make their lives better.”

NEW DEAL

Many of the favored leadership qualities of yesteryear—assertiveness, charm, charisma, risk taking—aren’t necessarily the ones that organizations choose to develop today. Increasingly, companies are looking for leaders who demonstrate humility, empathy, and the ability to look beyond their own self-interest. People-focused traits such as integrity, ethics, connectedness, and awareness of social-justice issues are increasing in importance, and more organizations offer specialized programs to develop leadership character.

Lead by developing good leaders.

— Edited by Rama Ramaswami, a senior editor in McKinsey’s Stamford, Connecticut, office

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by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 02:25 - 6 Jun 2022

European consumers’ cost of living rises as optimism drops

McKinsey&Company

The adaptable European consumer

In the news

•

Déjà vu. European consumers may feel like they’re back in 1999, when consumer price growth soared upon the creation of the single currency. Inflation in the eurozone has climbed for ten months straight, with the index of consumer pricing hitting 7.4% in April 2022; economists expect it to rise even more. Since the war in Ukraine began, the prices of energy and raw materials have soared, further driving up inflation. At the same time, the easing of COVID-19-related restrictions has intensified demand. [FT]

•

Not-so-stiff upper lip. Facing the biggest cost-of-living uptick on record, British consumers are feeling more pessimistic than ever, according to a market research company that has been tracking sentiment since 1974. UK consumers are more downbeat than their peers in France and Germany and more negative than they were during periods of high inflation and unemployment in the 1980s and 1990s. The future is murky, with inflation in the UK predicted to exceed 10% this year. [Reuters]

Rising prices, followed by the invasion of Ukraine, have eclipsed COVID-19 as the number-one worry among European consumers.

On McKinsey.com

•

Spending more and saving less. McKinsey’s latest European Consumer Pulse Survey tapped into the sentiment of 1,000 respondents in France, Germany, Italy, Spain, and the UK. In each country, more than half of consumers said their economy was in a bad state. Around 60% of respondents said their households were spending more on energy and utilities, transport and gasoline, and food and essentials. Higher prices also cut into savings, with five of ten respondents saving less.

•

An uptick in trading down. European consumers are responding to new stressors with new behaviors. Many are trading down, with 37% trying a private-label brand, 29% switching to a different brand, and 24% shopping at a different store. Consumers are clearly switching to cheaper options, particularly for household products, snacks and confectionary, and frozen foods. See how European shoppers are confronting inflation, along with how consumer behaviors are changing.

— Edited by Katy McLaughlin

Comprehend consumers

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 10:05 - 5 Jun 2022

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

Hi MD,

There is still time to register for our next webinar. Learn from four experts from Remote as they share practical strategies for managers and people leaders at every level to protect remote team members against burnout.

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

Date: 7th June

Times: 3.30pm UTC | 4.30pm BST | 5.30pm CET | 11.30am EST

What will you learn?

How to create team structures that facilitate healthy working hours
Which benefits and programs can improve life-work balance
How to build psychological safety within remote teams
How to identify and prevent burnout before it happens
Where asynchronous workflows can help

Register for free

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by "Remote" <hello@remote-comms.com> - 08:17 - 5 Jun 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—as we strive for sustainable, inclusive growth. In case you missed them, this week’s graphics explored the path to net-zero emissions in the US, low-emission vehicles, organizations with cross-functional design integration, and online grocery shopping.

FEATURED CHART

America’s net-zero shift

This week’s other select charts

A new high for low-emissions cars

Spread the creativity

Convenient but costly

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by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:04 - 4 Jun 2022

The war in Ukraine is changing the world

McKinsey&Company

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Monthly Highlights, June 2022

As the war in Ukraine persists, disruptions on a range of fronts are gathering force, and could reshape industries and economies. This month, our featured stories dive into the potential strength and direction of these shifts and their effects on lives and livelihoods, as well as the war’s possible ramifications on the key requirements for a more orderly net-zero transition. Other highlights in this month’s issue include the following topics:

the latest critical trends and risks in the global economy
how US consumer sentiment and behavior have evolved since the pandemic began
what makes a digital transformation successful
the future of workplace real estate

Editor’s choice

War in Ukraine: Twelve disruptions changing the world

The war is devastating lives and roiling markets. Here we track the disruptions that seem likely to shape lives and livelihoods, beyond the immediate crisis.

Navigate the crisis

The net-zero transition in the wake of the war in Ukraine: A detour, a derailment, or a different path?

The invasion of Ukraine will, at least initially, complicate the transition path to a net-zero economy, but this tragic development could still prove to be a turning point in accelerating progress in the medium run.

Understand global events

THIS MONTH’S HIGHLIGHTS

Container box in warehouse in shipping port

Global Economics Intelligence executive summary, April 2022

Amidst high inflation and the continuing war in Ukraine, strong demand persists; forecasting institutions trim growth estimates. Understand worldwide trends

How US consumers are feeling, shopping, and spending—and what it means for companies

The latest Consumer Pulse survey shows that, across America, people have simultaneously embraced new behaviors and reverted to old ones. What will they do next? Understand the trends

Digital transformation on the CEO agenda

Successful digital transformations may not be as elusive as you think. The best CEOs know up front what success looks like—and what stands in their way. Get better, faster

Workplace real estate in the COVID-19 era: From cost center to competitive advantage

Companies today should build workplaces that help them realize their strategies. Here’s why and how. 3 steps for transformation

State of Fashion Technology Report 2022

As technological innovation accelerates, fashion companies have an opportunity to serve customers better while also creating a more efficient, responsive, and responsible business. Keep up

Illustration of electric car being constructed

Can the automotive industry scale fast enough?

The rapidly increasing uptake of electric vehicles could transform the automotive ecosystem and promote even greater innovations. For that to happen, two imperatives need attention now. Speed up

ALSO NEW

Marketing in the metaverse: An opportunity for innovation and experimentation

Securing Europe’s future beyond energy: Addressing its corporate and technology gap

Reflections on 20 years of McKinsey on Finance—and three challenges ahead

The childcare conundrum: How can companies ease working parents’ return to the office?

Reimagining the future of financial-services headquarters

Bias Busters: When the crowd isn’t necessarily wise

Author Talks: Tomorrow’s capitalist is socially conscious

The role of space in driving sustainability, security, and development on Earth

CFO perspectives on leading agile change

Around the world, nurses say meaningful work keeps them going

Forward Thinking on trade, vaccines, and sustainable and inclusive growth with WTO Director-General Ngozi Okonjo-Iweala

Quantum computing just might save the planet

SPECIAL FEATURES

Illustration of a stylized Ukranian flag

The war in Ukraine

The Russian invasion of Ukraine has caused the greatest humanitarian crisis in generations. Here’s how leaders can respond. Navigate through uncertainty

Photo of a student working on a laptop outside

The graduate’s guide

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. See the collection

Decarbonizing the world’s industries

This collection draws together articles and reports that lay out a pathway to net zero for nine emissions-intensive industries. Explore the guide

The McKinsey Crossword

Sharpen your problem-solving skills the McKinsey way, with our weekly crossword. Play now

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McKinsey Classics

Simple communication tweaks based on behavioral research can nudge employees into top form. Read our 2016 classic “How small shifts in leadership can transform your team dynamic.” Rewind

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by "McKinsey Highlights" <publishing@email.mckinsey.com> - 11:46 - 4 Jun 2022

Meet Uffizio at Seguridad Expo in Mexico at Booth No: 1248

It's official. We’re flying over international waters to be a part of Latin America's most awaited Security Expo! We are happy to announce that Uffizio will be exhibiting at Expo Seguridad Mexico this month, from 28th -30th June.

We’ll be talking about our advanced fleet management system, Trakzee. We will also demonstrate how it can help businesses increase profits and reveal some of our most exclusive features.

Our fleet management products have the reputation of maintaining international standards. Today, Trakzee is deployed in over 65+ countries and now it's time for Mexico! Visit us at Booth - 1248 and get a chance to see our platform live and in action!

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by "Uffizio Technologies Pvt Ltd" <official@uffizio.in> - 06:29 - 4 Jun 2022

A look back on 20 years of McKinsey on Finance

the Daily read

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AN ARTICLE A DAY, PICKED BY OUR EDITORS

It’s been 20 years since the release of McKinsey on Finance. The first issue was launched in the summer of 2001, and so much has happened in these two decades, including unprecedented technological advances, medical breakthroughs, financial crises, a global pandemic, and much more. Throughout this period of profound change, McKinsey on Finance has been guided by core economic and financial principles with a focus on long-term value-creation. As we look ahead to the next 20 years, get perspective on three of the most pressing challenges large companies face today and opportunities for the future. Be sure to check it out.

— Joyce Yoo, digital editor, New York

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Reflections on 20 years of McKinsey on Finance—and three challenges ahead

Revolutionary innovations, brilliant ideas, and climate imperatives will change everything—except the fundamentals of finance and economics.

Take a step back

Quote of the Day

“Being a good listener is about building trust with the person communicating with you. If they know it’s safe to say what they really think, they will be open. And trust comes with face-to-face communication, transparency, and authenticity.”

—Bill Osborne, outgoing president of New Zealand Rugby on connecting with stakeholders in a new episode of the Inside the Strategy Room podcast

Chart of the Day

Chart of US greenhouse gas emissions by sector

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Also New

How the petrochemicals industry can benefit from advanced analytics

Four key elements that can help companies launch advanced analytics and machine learning programs.

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How Shanghai’s lockdowns are affecting global supply chains

McKinsey’s Steve Saxon explains why severe restrictions in Shanghai reinforce the importance of diversification.

Understand the issue

The McKinsey Crossword: Rhymes with H | No. 78

7-Down: Completely disordered

Play now

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 05:13 - 3 Jun 2022

Business travel is taking off again. How can airlines avoid five common pitfalls?

McKinsey&Company

Competing in corporate travel

In the news

•

Welcome aboard. After two years of virtual meetings, business travel is on the rise again. Hotel executives note that more company meetings and conventions have taken place over the past few months, and major airlines in the US report rising demand for corporate travel even though they’ve raised fares to offset higher fuel costs. For now, most business travelers aren’t going very far. Domestic business travel is rebounding fastest, while in business traffic Asia is lagging behind Europe. [NYT]

•

Revenge tourism. In 2019, corporate clients reportedly spent more than $1 trillion on business trips. The recovery of this crucial segment has picked up in recent months. One business travel firm that works with S&P 500 companies says that bookings have increased from about 20% of prepandemic volumes at the start of 2022 to more than 50%. But many passengers are buying business class tickets for recreational travel, so a key question remains: How much of this boost to business travel is from “revenge tourism”? [Bloomberg]

Before slashing prices or offering steep discounts, airline leaders should be aware of five pitfalls in business travel sales so they don’t lose even more value.

On McKinsey.com

•

The business of business travel. Compared with leisure travel, corporate travel is expected to take longer to rebound. Naturally, airlines are eager to accelerate this recovery. However, many carriers make the mistake of overrelying on discounts, which can cut into profits. Worse, if an airline decides to cut corners elsewhere to make up the difference, it may hurt its reputation and lose passengers. In an age where online reviews are just a click away, repairing this damage may be difficult.

•

Ask the right questions. Asking five questions can help airline leaders steer clear of common pitfalls as they try to bring back business travelers. If the answer to one or more of these questions is “yes” or “I don’t know,” airline executives might want to reconsider their corporate sales strategy. Read on for better ways to compete in corporate travel, from using data to confirm that corporate travel deals actually generate value to breaking down departmental silos that can undermine sales efforts.

— Edited by Jason Li

Boost business travel

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:25 - 3 Jun 2022

Why investing in nurses pays off in excellent patient care

The Shortlist

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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.

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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.

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