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Why should companies try to function as ‘one firm’?
On Point
by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:55 - 21 Jun 2023 -
A peek at the future health and wealth of our global economy
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Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
What is the outlook for inflation, interest rates, and growth over the next decade? In the past 20 years, the global balance sheet grew faster than GDP—which resulted in more debt and higher asset prices, but also lower economic output and more inequality. In a new episode of The McKinsey Podcast, senior partner Sven Smit explains the implications of the mismatch between paper wealth and real wealth and shares other highlights from the McKinsey Global Institute’s latest Future of Wealth research. Tune in to get updated on the future of the global economy.
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 05:09 - 20 Jun 2023 -
Don't Miss Out: Remote's June Update is Here!
Don't Miss Out: Remote's June Update is Here!
June
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Remote and Zapier: The Ultimate Power-Up for Global HR Teams
Streamline HR tasks with the new Remote and Zapier integration! Say goodbye to manual data entry and time-consuming tasks by seamlessly syncing data and automating actions across multiple HR tools. Connect Remote with over 5,000 supported apps and effortlessly create Zaps for streamlined workflows.
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Off Mute, Episode 3: What remote work means for refugees, with Lorraine Charles
Lorraine Charles started Na'amal in 2019 to help refugees enter the global workforce. Na'amal offers training, mentorship, and remote work placement opportunities. In this episode, Charles discusses the challenges for refugees and Na'amal in providing remote work. She also talks about why hiring refugees makes sense for employers and how Europe's attitude towards refugees is divided.
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Companies around the world face increased competition, changes in buying behavior, and mounting pressure to maximize revenue and reduce costs. To succeed in this environment, you need the right combination of business processes, technologies, and strategies.
Global by Design: how Linearity manages global talent with Remote
Linearity is on a quest to transform the design landscape. But to maintain their growth and foster ongoing innovation, it needed to leverage the unique perspectives and expertise of a global workforce. To make this a reality, Linearity turned to Remote to onboard, manage, and pay its global workers and today over 30% of its workforce are employed with Remote.
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Fleet Expense Management Software designed for Multiple Industries.
Fleet Expense Management Software designed for Multiple Industries.
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Simplify financial workflow for businesses across all industries.
Use Cases Across Industries
Trucking
Reduce costs and improve operations through streamlined maintenance and repairs. Simplify driver expense management and accurate record-keeping. Efficiently handle toll and road expenses for easy recording, reconciliation, and allocation.
Rental Fleet
Streamline fuel expense tracking for multiple vehicles. Manage fleet-wide maintenance and repair costs. Monitor vehicle depreciation for accurate asset valuation.
Tourism
Effortlessly track, optimize, and control fleet expenses in the tourism industry. Get centralized expense tracking, automated data capture, accurate real-time monitoring, and powerful reporting capabilities.
Discuss your use-case to get your business growing
Uffizio Technologies Pvt. Ltd., 4th Floor, Metropolis, Opp. S.T Workshop, Valsad, Gujarat, 396001, India
by "Sunny Thakur" <sunny.thakur@uffizio.com> - 12:30 - 20 Jun 2023 -
After a few years in, how do CEOs sustain high performance?
On Point
Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
• Staying successful. Becoming a successful CEO is hard. However, staying successful is even harder, McKinsey senior partner Carolyn Dewar and coauthors say. Research confirms this challenge: more than half of the companies on the Fortune 500 list in the year 2000 went bankrupt, were acquired, or ceased to exist in the following 15 years. It’s during the middle stretch of your CEO tenure, three to five years in, that the concentration and energy you applied to your objectives during your first years on the job are most likely to dissipate.
— Edited by Belinda Yu, editor, Atlanta
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:30 - 20 Jun 2023 -
The quarter’s top themes
McKinsey&Company
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In the second quarter of 2023, our top ten posts from McKinsey Themes look at collaboration overload, the future of the car, and more. At No. 1. is The A to Z on Gen Z, which features articles by Bo Finneman, André Dua, and Kweilin Ellingrud. Read on for our full top 10.
3. The future of the car
Over the past 20 years, the automotive sector has navigated a wave of disruptions; in the next decade, changes will come faster than ever—and with greater force and impact, write Kevin Laczkowski, Amuche Okeke-Agba, Andy Voelker, and Brooke Weddle in a new article. Buckle up
Today’s always-connected customers have high expectations from the companies that serve them. That’s why offering best-in-class customer experiences, or CX, is no longer merely a “nice to have” for organizations; in fact, there’s a strong correlation between companies’ CX ratings and their revenue growth. Be bold
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by "McKinsey Top Ten" <publishing@email.mckinsey.com> - 02:45 - 19 Jun 2023 -
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Creating a balanced workplace flexibility strategy: A leader’s guide
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Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
Three years after the COVID-19 pandemic broke out, many organizations have embraced the idea of long-term flexible work arrangements. But setting clear parameters for hybrid and remote work hasn’t been easy. Guidelines have tended to be ad hoc and vary widely across companies, and many leaders, while supportive of flexibility, continue to express concerns about its impact on culture, collaboration, and performance. Balancing the needs of both employer and employee—rather than favoring one or the other—may be critical to the success of flexible workplaces.
When it comes to being prepared for flexible work, “most firms have only scratched the surface,” note McKinsey’s Phil Kirschner, Adrian Kwok, and Julia McClatchy while discussing the results of a McKinsey survey of real estate and people leaders. Most respondents still struggle to implement a set of 12 capabilities that McKinsey has identified as critical to successful hybrid workplace transformations. While many companies have the basics of flexible work in place—such as incorporating employee sentiment and deploying work-from-anywhere technology—they fall short on creating a unified workplace vision; testing new physical-office concepts; documenting processes, including how work gets done; and defining leadership accountability. Rather than fixating on days in the office, as many leaders tend to do, it may be more rewarding to “create a sustainable, responsive, and magnetic workplace experience,” suggest the McKinsey experts.
That’s the percentage of people who take the opportunity to work remotely if their employers offer that option, according to McKinsey’s American Opportunity Survey. Sixty-five percent of employed respondents say they would be willing to work remotely all the time—a clear signal to organizations that flexible work, born as a reaction to a crisis, has become a desirable and even expected job feature. But different groups experience flexible work differently: for example, younger workers are more likely than older workers to report having work-from-home opportunities. This makes it imperative for employers to consider how their flexible-work policies fit with their diversity, equity, and inclusion strategies.
That’s David Arena, head of global real estate for JPMorgan Chase, in a conversation with McKinsey partner John Means about the financial institution’s state-of-the-art office tower in New York City. Currently under construction, the building combines futuristic technology, sustainable workplace design, and employee experience to create flexible spaces that meet the needs of both remote and on-site staff. Features include bike racks, a designated lane for self-driving cars, renewable power systems, and biometric devices that can personalize employee interactions. “Today, it’s about the intuitive building, and that’s what we’re working on,” says Arena. “I think one of the things we’ve missed in office buildings is that people want to be known. They want to have a personal experience when they come to work, and I think there’s a great opportunity to do that.”
Hybrid work can be highly productive—if it is “well-organized hybrid,” says Stanford University economics professor Nicholas Bloom in this discussion with McKinsey partner Michael Chui. Bloom advocates a model in which “everyone comes in on the same anchor days, and everyone stays at home on the same home days.” This pushes face-to-face activities such as meetings, training sessions, and social events into the on-site days, with the at-home days available for quiet work that doesn’t require in-person collaboration. “You see productivity uplifts of often 2 to 3 percent per hour from quiet [work],” says Bloom. Combined with the savings on commuting time, “you’re getting something like 3 to 5 percent improvement in productivity.” But even fully remote workplaces benefit by meeting in person occasionally, Bloom says: “Normally, what they’ll do is meet up for, let’s say, a week every other month to try and build some connection.”
Several organizations have begun to reverse their remote work policies— causing dismay among workers who had relocated or made lifestyle changes based on the assumption that the earlier approach was long term. One of the challenges of a flexible-work model may be an increasingly large gap between senior leaders’ and employees’ perceptions of what it means. The more transparent and detailed your organization’s guidelines on remote work are, the more likely they are to satisfy employees and increase productivity. “Communication is key,” suggest McKinsey senior partner Aaron De Smet and colleagues. “Leaders must create a thoughtful, open, ongoing, and two-way dialogue with employees, partnering to shape the solution from the onset.”
Lead flexibly.
— Edited by Rama Ramaswami, senior editor, New York
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by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 02:09 - 19 Jun 2023 -
กลยุทธ์การบำรุงรักษาไซต์งานอย่างมีประสิทธิภาพ
Schneider Electric
by "Warachai Chaturasathaporn, Schneider Electric" <Marcom.thailand@se.com> - 10:01 - 18 Jun 2023 -
The week in charts
The Week in Charts
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by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:21 - 17 Jun 2023 -
EP64: How to improve API performance
EP64: How to improve API performance
Open in app or online This week’s system design refresher:
How Discord Stores TRILLIONS of Messages (YouTube video)
Netflix's Overall Architecture
How to improve API performance
Branching strategies
Key data terms
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2023 State of the Java Ecosystem Report by New Relic (Sponsored)
Get an in-depth look at one of the most popular programming languages in New Relic's 2023 State of the Java Ecosystem report.
You’ll get insight into:
The most used Java versions in production
The most popular JDK vendors
The rise of containers
The most common heap size configurations
The most used garbage collection algorithms
Highlights from the report:
Java 17 user adoption grew 430% in one year
Java 14 is the most popular non-LTS version
Amazon is now the most popular JDK vendor
Containers rule everything around us
How Discord Stores TRILLIONS of Messages
Netflix's Overall Architecture
This post is based on research from many Netflix engineering blogs and open-source projects. If you come across any inaccuracies, please feel free to inform us.
Mobile and web: Netflix has adopted Swift and Kotlin to build native mobile apps. For its web application, it uses React.
Frontend/server communication: Netflix uses GraphQL.
Backend services: Netflix relies on ZUUL, Eureka, the Spring Boot framework, and other technologies.
Databases: Netflix utilizes EV cache, Cassandra, CockroachDB, and other databases.
Messaging/streaming: Netflix employs Apache Kafka and Fink for messaging and streaming purposes.
Video storage: Netflix uses S3 and Open Connect for video storage.
Data processing: Netflix utilizes Flink and Spark for data processing, which is then visualized using Tableau. Redshift is used for processing structured data warehouse information.
CI/CD: Netflix employs various tools such as JIRA, Confluence, PagerDuty, Jenkins, Gradle, Chaos Monkey, Spinnaker, Altas, and more for CI/CD processes.
How to improve API performance
The diagram below shows 5 common tricks to improve API performance.
Pagination
This is a common optimization when the size of the result is large. The results are streaming back to the client to improve the service responsiveness.Asynchronous Logging
Synchronous logging deals with the disk for every call and can slow down the system. Asynchronous logging sends logs to a lock-free buffer first and immediately returns. The logs will be flushed to the disk periodically. This significantly reduces the I/O overhead.Caching
We can cache frequently accessed data into a cache. The client can query the cache first instead of visiting the database directly. If there is a cache miss, the client can query from the database. Caches like Redis store data in memory, so the data access is much faster than the database.Payload Compression
The requests and responses can be compressed using gzip etc so that the transmitted data size is much smaller. This speeds up the upload and download.Connection Pool
When accessing resources, we often need to load data from the database. Opening the closing db connections add significant overhead. So we should connect to the db via a pool of open connections. The connection pool is responsible for managing the connection lifecycle.
Over to you: What other tricks do you use to improve API performance?
What branching strategies does your team use?
Teams often employ various branching strategies for managing their code, such as Git flow, feature branches, and trunk-based development.
Out of these options, Git flow or its variations are the most widely favored methods. The illustration by Jetbrains explains how it works.
Data is used everywhere, but do you know all the commonly used data terms?
Data Warehouse: A large, structured repository of integrated data from various sources, used for complex querying and historical analysis. \
Data Mart: A more focused, department-specific subset of a data warehouse providing quick data retrieval and analysis.
Data Lake: A vast pool of raw, unstructured data stored in its native format until it's needed for use.
Delta Lake: An open-source storage layer that brings reliability and ACID transactions to data lakes, unifying batch, and streaming data processing.
Data Pipeline: A process that moves and transforms data from one system to another, often used to populate data warehouses and data lakes.
Data Mesh: An architectural and organizational approach where data ownership and delivery are decentralized across domain-specific, cross-functional teams.
Over to you: do you know the difference between a data engineer and a data scientist?
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Webinar: Benchmarking AI apps on edge hardware with RHODS.
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Benchmark AI apps on Intel® hardware with RHODS and Intel® Developer Cloud for the Edge
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Please join us for our upcoming webinar on AI application benchmarking. Cohosted by experts from Intel and Red Hat, this webinar will explore how AI developers can benchmark applications on Intel® hardware through the Red Hat® OpenShift® Data Science Platform (RHODS). Attendees will learn how to:- Leverage the Intel® Developer Cloud for the Edge-Container Playground as REST APIs from within RHODS
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Audrey Reznik has been in the IT industry (private and public sectors) for 27 years in multiple verticals. Audrey was instrumental in educating scientists about what the OpenShift platform was and how to use OpenShift containers (images) to organize, run, and visualize data analysis results. Audrey now focuses on next-generation applications. She is passionate about Data Science and in particular the current opportunities with Machine Learning and Federated Data.
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How Gen AI could make your organization more profitable
The Shortlist
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Curated by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
Twice monthly, we bring you four new insights out of the dozens we publish that we think are worth a second glance from any business leader in any geography. In this edition, we look at what hybrid work means for your company’s real estate strategy, offer straight talk on generative AI’s business use cases, and more. We hope you enjoy the read.
—Liz and Homayoun
Read up on a new strategy for global IT in Managing the forces of fragmentation: How IT can balance local needs and a global efficiency in a multipolar world, by Oliver Bossert, Mathis Friesdorf, Andreas Kopper, and Wolf Richter.
We hope you find this synthesis helpful. See you in two weeks with four more ideas from McKinsey.Share these insights
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by "McKinsey Shortlist" <publishing@email.mckinsey.com> - 03:32 - 16 Jun 2023 -
What could your commute look like in 2035?
On Point
Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
• Riding into the future. An annual survey conducted by the McKinsey Center for Future Mobility examines four mobility trends across the world, from shared mobility to autonomous driving. According to McKinsey partner Kersten Heineke and colleagues, results from 2022 show a willingness on the part of consumers to change their transportation habits. Moving away from private-car use—which contributes to road congestion and increased carbon emissions—and toward shared mobility could create a more seamless and sustainable mobility ecosystem.
— Edited by Gwyn Herbein, editor, Atlanta
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