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by "McKinsey On Point" <publishing@email.mckinsey.com> - 10:08 - 26 Jul 2022

Digital health: An opportunity to advance health equity

Harmony Internal - McKinsey

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The pandemic has highlighted the long-standing disparities in our healthcare systems and the serious consequences inadequate healthcare has on patients—especially ethnic and racial minorities, rural communities, the underprivileged, and the elderly. Bridging these equity gaps is not only beneficial to patients but also for the economy at large; improvements in global health have contributed significantly to economic growth in advanced economies over the past century. What role can digital technologies play to equalize healthcare access and quality? A new article lays out an action plan for how technology and life sciences companies can develop new digital solutions to address these healthcare challenges and move the needle. Dive in and embrace the opportunity.

Edited by Joyce Yoo
Digital Editor, New York

Woman and baby daughter using a smartphone to communicate with the doctor.

Digital health: An opportunity to advance health equity

Digital health solutions have the potential to make healthcare more equitable. Here’s how innovators can deliver on that promise.

Make it fair

Quote of the day

“Having a clear strategy earns you the right to talk about culture. Culture is what guarantees continuing strategic shifts and alignment to the world around you.”

—James Gorman, chair and CEO of Morgan Stanley and a former McKinsey senior partner, on lessons from his 12 years leading the global financial services firm in a recent episode of the Inside the Strategy Room podcast

Chart of the day

Chart detailing toxic workplace behavior

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:19 - 26 Jul 2022

Sangoma Webinar: PBXact Reports for Decision Making

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Zoho Seminar | Drive Value To Your Business With AI-Powered Low-Code Solutions

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Did you miss our AI seminars?

We missed you too! That's why we're back with another informative session as part of the series.

Artificial Intelligence is no longer just for the coding experts. It's rapidly becoming a strategic imperative. And low-code has helped smooth the divide between business owners and tech leaders while simplifying the complexities of managing data.

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by "Zoho | Mani" <onlineevents-apac@zohocorp.com> - 02:00 - 26 Jul 2022

Airlines are struggling to turn a profit, but a few are beating the odds. How do they do it?

On Point

TODAY'S NEWS. TOMORROW'S INSIGHTS.
A daily newsletter from McKinsey & Company

Edited by Jason Li
Senior Editor, Shanghai

Learning from leading airlines

The news

•

Overworked pilots. Summer is here, and many are eagerly jetting off for vacation. Airlines in the US, however, are facing multiple challenges, including rising fuel prices, bad weather, and labor shortages. Thousands of pilots took buyouts or went into early retirement during the COVID-19 pandemic, and they can’t be replaced quickly enough—even though carriers are on a hiring spree. Amid flight disruptions and 11th-hour changes, pilots say they are overworked and want better working conditions. [NYT]

•

Not cleared for takeoff. Despite a surge in demand for leisure travel, many airlines are cutting routes and reducing the number of flights on the ones they keep. Ongoing personnel shortages—both on board and on the ground—have prompted airlines to cancel scores of flights. In North America, there were 793,018 canceled flights in the first 23 weeks of 2022, a 21% increase from the same period in 2019. [Axios]

“Our research found that most airlines have the potential to enhance the quality of their leadership with a strong strategic vision, communicated to all levels of the organization.”

Our insights

•

Defying the odds. In every year of its existence, the airline industry has failed to earn its cost of capital. But some carriers have managed to defy the odds to generate consistent value for their shareholders—and are widening their lead over others. From 2012 to 2019, a small group of airlines managed to generate profits while the rest of the industry lost value, reveal McKinsey senior partner Alex Dichter and colleagues.

•

Six secrets. Profitable airlines focus on six critical areas, McKinsey research shows. For instance, high-performing airlines are able to stand out from the crowd through their reputations. Airlines that are reliably on time and have good operational performance enjoy higher returns, according to McKinsey analysis. From managing an airline’s capital base to building on network privilege, learn how each critical area can go a long way to boosting profitability.

See how airlines beat the odds

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:08 - 26 Jul 2022

Decarbonizing grocery

Harmony Internal - McKinsey

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Did you know that the food system currently accounts for a third of global greenhouse-gas emissions? As governments and companies worldwide work to combat climate change, now is the time for the grocery sector to step up and become the driving force for decarbonization across the entire food system. According to Bartosz Jesse and his coauthors, this path toward decarbonization is an opportunity to save costs and create competitive advantage. Check out the article and see how grocers can protect the planet while also strengthening their businesses.

Edited by Joyce Yoo
Digital Editor, New York

Decarbonizing grocery

Here’s how the grocery sector can protect the planet and position itself for green growth.

Get a handle on it

Quote of the day

“How are we, as leaders, making sure we’re putting the right people in the right seats on the bus? This is all about strengths, about seeing new opportunity, about perspective, and about the growth mindset.”

—Dalia Feldheim, a corporate consultant, coach, and speaker on focusing on employees’ strengths in a recent Author Talks interview

Chart of the day

A new McKinsey Health Institute survey examines the views of residents in 19 countries on their physical, mental, social, and spiritual health.

ALSO NEW

Young African American woman is relaxing on the rooftop with sunset light on her face

In sickness and in health: How health is perceived around the world

Look broadly

Advancing real-world evidence for pharmaceutical companies in Japan

Pharma companies in Japan have an opportunity to obtain value from real-world evidence using advanced analytics and to better ensure patient outcomes.

Expand your capabilities

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Demand for online education is growing. Are providers ready?

Growing competition in online education suggests providers may need to take bold action. Five strategic moves could help them compete and grow while meeting the needs of learners.

Read more

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:50 - 25 Jul 2022

Join me tomorrow to learn how to get started with dashboards and NRQL

Hi MD

Phil Weber, Senior Technical Training Specialist at New Relic University, here. How are your dashboard skills? If you'd like to improve them, you can register to attend the free online workshop I'll host tomorrow at 10 am BST - Getting started with dashboards and NRQL.

In this two-hour workshop, you will learn how to query and analyse all of your collected data, and to build custom charts and visualisations. These charts can be combined to create powerful dashboards to help you correlate and understand your systems, troubleshoot more efficiently, and correlate performance metrics with business KPIs. You'll get to use the data explorer to easily create charts without any knowledge of NRQL, before writing your own NRQL queries with the query builder for creating custom charts, or alerts.

While I recommend attending this hands-on workshop live, you can also register to be emailed the recording.

I hope to see you then,

Phil Weber

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by "Phil Weber, New Relic" <emeamarketing@newrelic.com> - 03:44 - 25 Jul 2022

Manage attention, not time: A leader’s guide

Harmony Internal - McKinsey

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ESSENTIALS FOR LEADERS AND THOSE THEY LEAD

Edited by Rama Ramaswami
Senior Editor, New York

Leaders are expected to be productive. And by the yardstick of conventional time management, they are: they attend meetings, check off lists, multitask on projects, and manage deadlines. Why, then, isn’t anything getting done? Pointless interactions, information overload, and distractions leave executives too drained for much else, according to this McKinsey article. “Every minute spent on a low-value interaction eats into time that could be used for important, creative, and powerful activities,” say the article’s authors. The solution may lie in managing your attention, not your time. Here are some ways to do so—and perhaps increase your efficiency and task enjoyment as a result.

AN IDEA

Illustration of several workers using electronic devices

Choose what to ignore

Since there will never be enough time to “do it all,” deciding what not to do may well be the most strategic time management decision. A simple rule of thumb for leaders is to identify a maximum of five things to focus on for the year and spend 95 percent of your time doing those things. McKinsey’s Frankki Bevins and Aaron De Smet suggest that organizations can help by establishing time limits for projects, reducing the number of decision makers involved, and ensuring that leaders dedicate most of their time to the organization’s priorities. Being productive is about timing, not time, says organizational psychologist Adam Grant in the New York Times: “So if you’re trying to power through a boring task, do it after a moderately interesting one, and save your most exciting task as a reward for afterward.”

A BIG NUMBER

28%

That’s the percentage of time lost every year by knowledge workers because of distractions, for an estimated loss of 581 hours per person. Both remote and in-office workers find it hard to focus on any given piece of work for very long—little more than half of respondents to a survey of 600 knowledge workers devote more than an hour to a task in an average day. Email is the top distraction for all workers; interruptions from colleagues and background noise such as ringing phones are the worst offenders in the office, whereas at home, the temptation to relax, finish up household chores, or tend to family obligations top the list. Even a three-second interruption can double the error rate for tasks—primarily because of workers’ shift in attention from task to task.

A QUOTE

“All we have to decide is what to do with the time that is given us.”

That’s the wizard Gandalf in J. R. R. Tolkien’s The Fellowship of the Ring advising his hobbit friend Frodo before his epic adventure begins. A quest to manage time in the workplace may not be as arduous, but it can seem that way. In this hypothetical day in the life of a middle manager, the central character spends six hours on email and social media; three hours switching between TV, smartphone, and computer; and, deeply tired, falls asleep after having checked his phone a total of 150 times that day. Learning how to distribute cognitive work across three “gears”—low, medium, and high—could help this manager a great deal. He spends most of his day in medium gear, focusing on quick tasks and switching his attention constantly. If he spent more time in high gear, he could focus on demanding tasks for longer periods, bringing more mental energy to the task at hand.

A SPOTLIGHT INTERVIEW

“One thing we often notice these days is people feeling bad about themselves for the inability to focus,” says former policy maker Justin Zorn in this conversation with McKinsey senior partner Kunal Modi. Zorn—coauthor with consultant Leigh Marz of the book Golden: The Power of Silence in a World of Noise—believes that “moments of pristine attention,” when we’re not distracted by the noise of the world, can boost physical health and mental concentration. Silence doesn’t have to be auditory: people can find inner quiet even while dancing to loud music or carving wood with a chainsaw, for example. “We’re looking at silence as a starting place to discern the signal from the noise,” says Marz. “It is a place for us to take stock of what is true and needing our attention—a signal—and what is noise—a distraction—distracting us from what we want to put our attention to.”

CHILL

You don’t need to create elaborate systems to stay focused—sometimes, a simple productivity hack or two can energize you for the day ahead. One executive makes a ritual of checking email just twice a day, giving it full attention for 45 minutes at a time. Another dedicates the first hour of every day to the most important challenge of the day. Still not convinced? Consider these tips from celebrities: make your bed neatly, drink room temperature water, make any crucial decisions at the same time each day, and take freezing-cold showers to be “fresh as a daisy, all the time.”

Lead attentively.

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by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 02:20 - 25 Jul 2022

Our potential to be productive starts from early life. How do we make the most of it?

On Point

Edited by Belinda Yu
Editor, Atlanta

On learning and earning

The news

•

The Great Exploration. It’s more empowering to think of the Great Resignation as a Great Exploration, says one corporate leader. Individuals aren’t just quitting jobs; they’re reevaluating what matters to them and are chasing new dreams and priorities. Executives who enable this exploration, rather than fearing it, can revitalize their organizations and their staff. By supporting people on their journey—even if that means losing them—leaders create the type of work culture that employees boast about and will want to return to. [HBR]

•

Ten-year itch. From politics to venture capital and finance to lifestyle blogging, a growing number of experts are advising workers to reconsider their careers every decade or so. People tend to reexamine goals and priorities with every major life change, and the COVID-19 pandemic has provided plenty of time to do so. Stagnating employees are less productive and not as mentally and physically healthy, so organizations also benefit from the shake-up, says one business school professor. [Bloomberg]

“Two-thirds of all your wealth as an individual through your lifetime will come from tapping into the human capital that you possess.”

Our insights

•

Experience required. Throughout our lives, we learn things, attain new skills, and find new ways to use them. This unique set of capabilities—knowledge, attributes, and experiences—represents human capital, or a person’s potential to be productive. It takes work experience to grow human capital. Almost half of an individual’s lifetime earnings result from skills that are acquired through working, reveal McKinsey Global Institute partner Anu Madgavkar and senior partner Bill Schaninger in The McKinsey Podcast.

•

Bold moves pay off. Making bold career moves may lead to upward mobility, according to McKinsey research. Roughly a third of workers in Germany, the UK, and the US had very successful, upwardly mobile career paths, moving one to three income brackets higher. This upwardly mobile group accepted “stretch” jobs and roles that required them to use many new and different skills that they hadn’t previously mastered. Hear how individuals can maximize their potential for learning and earning, and ways that companies can bring out the best in talent.

Learn about human capital

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:24 - 25 Jul 2022

Zoho Seminar | Drive Value To Your Business With AI-Powered Low-Code Solutions

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Hi there,

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We missed you too! That's why we're back with another informative session as part of the series.

Artificial Intelligence is no longer just for the coding experts. It's rapidly becoming a strategic imperative. And low-code has helped smooth the divide between business owners and tech leaders while simplifying the complexities of managing data.

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by "Zoho | Mani" <onlineevents-apac@zohocorp.com> - 11:48 - 24 Jul 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 and inclusive growth. In case you missed them, this week’s graphics explored inflation’s effects on food, commodities, housing prices, and real wages.

FEATURED CHART

This week’s other select charts

Double Trouble

Commodities costs see widespread gains

Prices through the roof

Paycheck pinch

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by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:16 - 23 Jul 2022

Feminine leadership traits, the future of the US healthcare industry, and more: The Daily Read weekender

Harmony Internal - McKinsey

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CURATED PICKS FOR YOUR DOWNTIME, FROM OUR EDITORS

Joyce Yoo
Digital Editor, New York

As you get ready for the weekend, catch up on the essential reads from the week and explore topics including leading like a girl, a low-emissions materials transition, the future of healthcare, and more:

Embracing conventionally feminine leadership traits such as collaboration, empathy, and intuition can benefit corporate leaders according to corporate consultant, Dalia Feldheim.

Improve your leadership style

Image of several large bundles of aluminum tubes in a warehouse

Industrial materials account for almost a quarter of all global CO2 emissions. Advances toward low-emissions materials and the circular economy—a materials transition—can speed progress to net zero.

On a path to net zero

Now is the time to make strategic choices and potentially big bets on the US healthcare industry.

Look to the future

Our weekly briefing note on sustainable and inclusive growth explores how the aviation sector can achieve net-zero emissions by 2050.

Get the latest update

Quote of the day

“Almost half of a worker’s lifetime earnings are attributable to the skills that they acquire through work experience. Therefore, human capital is intimately connected with the whole experience of being in the workforce and working with other people.”

—McKinsey senior partner Bill Schaninger on how we accumulate human capital in a recent episode of The McKinsey Podcast

Chart of the day

Chart of inflation impacting wage growth

Institutions have the potential to use their roles in teaching and learning, research scholarship and creative expression, and service to the community to collectively work toward greater equity.

ready to unwind?

Image of two people reviewing a textbook

Racial and ethnic equity in US higher education

Learn better

Image of two people working at a desk while on a video conference

Hybrid working models can leverage talent and skills across industries

Digital technologies and advanced analytics are here to stay. Cognitive, digital, and self-leadership skills can help hybrid working models thrive in metals and mining and heavy industries.

Stay updated

18-Down: Taking drastic measures to get out of a bad situation

Know the answer? Test yourself with the latest McKinsey Crossword, Cook's Tour | No. 85.

Dig in

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:33 - 22 Jul 2022

MD, last chance to let us know your opinion. don’t miss out!

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by "Remote" <hello@remote-comms.com> - 12:32 - 22 Jul 2022

Asia’s business leaders on navigating choppy economic waters

The Shortlist

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Our best ideas, quick and curated | July 22, 2022

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This week, snippets of wisdom from a wide range of Asia’s business leaders interviewed by McKinsey since the pandemic began. Plus, the future of health equity, and six secrets of profitable airlines (yes, there are a few).

Image of several white folded napkins behind a red folded napkin

Stepping back. Business leaders in Asia have been focusing on some big issues, from the threat of climate change to sluggish infrastructure development to the rise of a new, digitally savvy generation. While the region’s dynamism is a given, leaders have had to navigate these challenges against the backdrop of a pandemic that has left no aspect of business or society untouched. In the video series Leading Asia, McKinsey asks some of Asia’s most influential business voices what they have learned from navigating the past few years of choppy waters and what they see as the greatest opportunities ahead for the region.

New ground. Top of mind now for the business leaders McKinsey has spoken with are how to tackle the weaknesses in performance among Asian companies that preceded the pandemic and how to position themselves for success in an era shaped by accelerating technological change. There is no question that in such a competitive region, new opportunities are arising in services, digitization, and technology that demand new capabilities. Against this backdrop, CEOs are shifting priorities and revisiting their own leadership journeys.

Reconnecting with purpose. Sumant Sinha, managing director of ReNew Power, India’s largest renewable-energy company, discusses his company’s position amid Asia’s energy transition: “We’re working to further our purpose and expand our role in civil society by starting more conversations about the need for a clean-energy transition and creating more pressure to make that transition.” India’s success will hinge on equality, Sinha notes: “I feel a personal responsibility to advance gender equality, but this is not just about doing the right thing. India will not realize its growth potential without achieving gender equality, including in the workplace.”

ESG as a core value. Karen Wood, chairwoman of South32, has devoted much of her time to environmental, social, and governance (ESG) issues, including what steps the Australian diversified resources company is taking to prepare for a low-carbon future and the opportunities for multistakeholder collaboration to tackle some of the world’s pressing challenges. “A clear purpose statement is a unifying statement and a benchmark to test decisions,” Wood tells McKinsey. “Ours is built off of three planks. First, to make a difference by developing natural resources to improve people’s lives. Second, to [consider the impact] on future generations. Third, to earn the trust of our owners and our partners so they know that we realize the value of their resources.”

Digital past, present, and future. Jessica Tan, co-CEO of Ping An, has been an architect of the Chinese conglomerate’s digital-ecosystem-based business model. In an interview, Tan discusses how the digital transformation in Asia is affecting professional services, as well as the synergies that big and small companies can share in digital ecosystems. When asked to picture Asian business in 2030, she says that we can expect digital to continue to blur industry lines, supercharge scalability, and loosen geographical restraints for professional services.

OFF THE CHARTS

Sustainable fuels are key to meeting 2030 decarbonization targets

Even in a world with fast electric-vehicle uptake, reaching regulatory greenhouse-gas-reduction targets for transportation could require a significant contribution from sustainable fuels. While the growth of battery electric vehicles in the passenger vehicle segment is strong, electrification of commercial-heavy transportation, such as trucks and buses, is expected only in the longer term.

Chart of projected source contribution to transport greenhouse-gas reductions among various EU countries in 2030

Check out our chart of the day here.

PODCAST

The future of health equity

“Health equity means all of us having equal access to healthcare, regardless of one’s circumstances, zip code, economic situation, or level of support.” So says Daniel E. Greenleaf, president and CEO of healthcare services company ModivCare. US-based ModivCare provides a platform of integrated supportive-care solutions, including nonemergency medical transportation, personal-care services, remote monitoring, and meals, for public and private payers and their patients. In this episode of the McKinsey on Healthcare podcast, Greenleaf talks about his family’s emphasis on service and how that shaped his mindset.

Catching up on your favorite show this weekend? See the future of video entertainment.

On Point

TODAY'S NEWS. TOMORROW'S INSIGHTS.
A daily newsletter from McKinsey & Company

Edited by Belinda Yu
Editor, Atlanta

The future of video entertainment

The news

•

Gaming with empathy. A young Muslim fleeing civil war; a warrior striving to save a loved one; a Black PhD student navigating discrimination: these are all stories featured in a growing number of video games focusing on empathy. A US medical school uses one game, about a couple grieving the loss of their child to cancer, to help staff members relate with care to their patients. Gaming can help promote cognitive empathy, or the ability to imagine the world from another person’s perspective, according to one video game designer. [WaPo]

•

Streaming draws older viewers. Overall usage of streaming video is growing in the US, but older audiences are increasingly propelling that growth. As of May 2022, viewers aged 50 and over accounted for nearly 40% of streaming watch times, more than any other age group. Streaming audiences have grown during the COVID-19 era, and for some older adults, the conversion was inspired by dinnertime conversations with relatives. For the first time, Americans aged 50 to 64 spent more time streaming content than people aged 35 to 49. [WSJ]

“There’ll be a blurring of the lines between things we watch and things we play.”

Our insights

•

You’re in the movie. Sensory experiences will increasingly transform the way that people experience and create stories, says McKinsey senior partner Jonathan Dunn. Technologies such as augmented reality and haptics allow audiences to become deeply immersed in the unfolding story. At the theater, if there’s an explosion in the video, everyone watching might feel the force of the blast or even the wind on their faces, explains partner Jacomo Corbo. “You’re in the movie with the actors and experiencing it with them more than we really do today,” says expert Kristi Tausk.

•

Gamified and connected. A decade from now, imagine going to a movie theater and seeing a film that turns into a gaming experience, suggests partner Tom Svrcek. With a game console, you’d play this game with people not just in your theater but across 20 connected theaters. Then, returning home to your game console, you’d keep gaming with that same group over the next several months. Most storytelling is moving in the direction of video games and interactive entertainment, says Dunn. Explore three trends powering the future of video entertainment.

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:47 - 22 Jul 2022

How can individuals use their influence for positive change?

Harmony Internal - McKinsey

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As the world grapples with multiple global crises, we are living through challenging times. How can we as individuals effect positive change and help build a better future? Becoming a change agent is certainly no easy feat but a new report—produced by McKinsey and Ashoka, in partnership with Echoing Green, Generation Pledge, and Catalyst 2030—explores how highly resourced individuals can use many different forms of engagement to work towards systemic change. Take the journey to create a more sustainable, equitable, and prosperous world and see how you can maximize your impact. You don't want to miss it.

Edited by Joyce Yoo
Digital Editor, New York

Duck swimming in still water reflecting the sky

How can individuals use their influence for positive change?

Collaborative action across multiple sectors could help solve society’s most complex challenges.

Download the full report

Quote of the day

“We believe there are three states in the digital world that must be kept separate: the create stage, where you do deep work, thinking, and writing; the curate stage, where you browse and pick up information; and the communicate stage, which is about talking to people or messaging.”

—Nandan Nilekani, cofounder and nonexecutive chairman of Infosys in a new interview in the Leading Asia series

Chart of the day

Graph about real house prices in OECD countries during the pandemic

Banking distribution needs to account for the evolving interdependencies between channels. Accelerating digital and upgrading the physical experience to “phygital” offers a viable solution.

ALSO NEW

Person putting coin into digital piggy bank

Best of both worlds: Balancing digital and physical channels in retail banking

Make it work

Shot of a group of young businesspeople chatting while walking through the city

Learning and earning: The bold moves that change careers

McKinsey’s report on human capital highlights the importance of internal mobility in organizations. Here’s how to encourage your employees to try more new things.

Enhance knowledge

photo view of plane's wing flying over clouds and blue sky

Why rising fuel prices might not be as bad for the airline sector as it seems

Fuel price hikes put the airline industry under strain—but may prompt airlines to limit overcapacity, leading to better returns and industry stability.

Learn from the past

Follow our thinking

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:42 - 21 Jul 2022

You're' invited 🎙Webinar: The Practical Approach to Growing Remote Teams

Hi MD,

You are invited to join Remote's VP of People, Nadia Vatalidis, alongside Christie Grix VP of People at LOOM and Sanam Shah, Communications Manager, at LOOM for...

🎙Webinar: The Practical Approach to Growing Remote Teams

Wednesday, July 27, 2022

9:00am–10:00am PDT

4:00pm–5:00pm UTC

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What will you learn?

How to help remote team members feel valued and connected
Tools that are necessary for remote collaboration
Ways to master the art of public documentation
What asynchronous work looks like in practice
How to ensure your organization practices shared values
How to hire, onboard, and train employees in multiple countries

Speakers:

Christie Grix VP, People, LOOM
Nadia Vatalidis, VP of People, REMOTE
Sanam Shah, Communications Manager, LOOM

Please note: This webinar is hosted by our friends at LOOM.

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by "Remote" <hello@remote-comms.com> - 10:02 - 21 Jul 2022

Invisible no more: It’s time to talk about Asian American mental health

On Point

TODAY'S NEWS. TOMORROW'S INSIGHTS.
A daily newsletter from McKinsey & Company

Edited by Katherine Tam
Project Manager, New York

Coming home for Asian Americans

The news

•

Searching for home. For Asian American immigrants whose identities encompass different cultures, it can be hard to feel psychologically safe as they adjust to their new lives in the US, says Taiwanese American psychologist and author Dr. Jenny Wang. But everyone, no matter what background, can create a sense of home through authenticity, belonging, compassion, and safety, she declares. For Asians, showing up authentically sometimes means pushing back against harmful tropes, such as the model minority myth. [NPR]

•

The perils of perfectionism. Wang says she was taught by her parents to avoid failure “at all costs,” which harmed her mental health as she struggled with perfectionism. But one can’t take risks to succeed unless one first learns how to fail. Reframing failure can help. For instance, notice the beauty of simply trying something. Break down your goal into small steps, and note where you feel energized, allowing that spark to move you through fear of failure. [CNBC]

“Belonging is not just that I’m allowed to exist here. It is a sense that I am safe, I am valued, and I will be protected if there is potential harm.”

Our insights

•

A reckoning. Anti-Asian racism isn’t new in the US, but since the COVID-19 pandemic began, there’s been a growing amount of violence and hostility against Asian Americans. In an interview with McKinsey, Wang says that her new book, Permission to Come Home: Reclaiming Mental Health as Asian Americans, seeks to help Asian Americans and Pacific Islanders come to terms with who they are and what they have faced, including destigmatizing conversations around mental health and promoting self-advocacy.

•

Competing cultures. Wang maintains that trying to balance traditional parental expectations, Western cultural norms, and personal desires can take a toll on the kids of Asian immigrants. In addition, competing dynamics—such as the Asian cultural emphasis on humility versus the Western cultural view of self-promotion as necessary—can make it difficult for Asian Americans to feel psychologically safe, she says. Learn how leaders can better understand Asian-identifying individuals and build psychological safety in the workplace.

Get her take

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:57 - 21 Jul 2022

How can CFOs rebrand themselves as innovation allies?

Harmony Internal - McKinsey

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They can take five actions to improve objective-setting, performance measurement, and cultural factors associated with successful innovation projects.

Edited by Joyce Yoo
Digital Editor, New York

CFOs are traditionally seen as authority figures who manage the budget and annual planning—and not so much collaborators when it comes to innovation. But CFOs who are allies to innovation projects can improve both the company culture and the bottom line, as well as promote growth and resilience. So how can they flip the script and rebrand themselves? A new article outlines five actions CFOs can take to develop an innovation mindset and create value. Be sure to check it out and be set up for success.

How can CFOs rebrand themselves as innovation allies?

Five actions

Quote of the day

“It’s important to have role models of Black leaders who have founded a brand, but it’s also important to have role models of Black leaders who have founded and exited. In many cases, those founders are still playing roles with the large consumer goods organizations.”

—McKinsey senior partner, Kristi Weaver, on what it means to be a Black brand in a recent episode of the McKinsey on Consumer and Retail podcast

Chart of the day

Chart of the rise in commodity prices around the world