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A leader’s guide to making better decisions
Leading Off
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ESSENTIALS FOR LEADERS AND THOSE THEY LEAD 
Business lore is rife with high-profile examples of bad decisions, some of which sank entire companies. But questionable decisions that make headlines aren’t the only ones that can fail. The common, routine decisions we make every day can easily go awry and delay projects, alienate employees and customers, or hurt financial performance. In today’s uncertain environment, leaders are under constant pressure to make smart decisions fast. This week, let’s explore some decision-making practices that can make the process easier. AN IDEA 
Focus on speed, quality, and results Contrary to what you might expect, it doesn’t take very long to make a good decision. A McKinsey survey shows that fast, high-quality decisions correlate strongly with good company performance. This applies to all types of decisions—big bets that affect the company’s future; cross-cutting decisions, which are smaller in scope and made in collaboration with different groups across the company; and delegated decisions, which are the province of individuals or specific business units. Just 37 percent of our survey respondents say that their organizations’ decisions show both speed and high quality, and only 20 percent make fast, high-quality decisions that also deliver strong financial returns. The top performers’ formula for success? Make decisions at the right level (for example, don’t be afraid to delegate down to lower levels of the organization), focus on enterprise-level value, and get commitment from accountable stakeholders.
A BIG NUMBER 11 That’s the number of ingrained myths that could trip up leaders who are trying to justify a decision. These might include beliefs such as, “I don’t have the time to give to this decision,” “I know I’m right,” “I trust my gut,” or “There’s just one way to do this.” An effective way to counter decision-making myths is slowing down and making a strategic stop—taking what the author of this Harvard Business Review article calls a “cheetah pause.” Cheetahs are known not just for their incredible speed but also for their ability to slow down quickly when they spot their prey. Pausing in a calculated way, rather than racing toward a decision, can help you bust the myths and evaluate whether to move in a new direction or stay the course. 
A QUOTE That’s Stanford University professor Chip Heath in this discussion with McKinsey on how senior leaders can boost their decision-making effectiveness. For example, considering just one more option can make good decision making up to six times more likely. Heath suggests using a four-pronged decision-making framework, known by the acronym WRAP: explore a wider set of options to create more debate, reality-test your assumptions through research, step back and attain some distance from your choice, and—although it may be hard to acknowledge—prepare to be wrong at the end of the process.
A SPOTLIGHT INTERVIEW 
A series of biased decisions led to time and cost overruns in a major investment project at the German electric utility RWE. “What became obvious is that we had fallen victim to a number of cognitive biases in combination,” says CFO Bernhard Günther in this McKinsey Quarterly interview. “We could see that status quo and confirmation biases had led us to assume the world would always be what it used to be.” The project’s disappointing performance led Günther to spearhead fundamental changes in decision-making processes at the company. This included launching training programs for leaders and managers on becoming aware of biases, being more open to dissent and conflict, and learning debiasing practices—all of which eventually resulted in better decisions. A key factor in the success of RWE’s debiasing program was that top management set an example. “That’s true of any kind of change, not just debiasing,” Günther says. “If it’s not modeled at the very top, it’s unlikely to happen further down the hierarchy.”
JAM SESSION 
Research shows that having too many choices can confuse people, forcing them to make snap decisions or not decide at all. A well-known study of consumer psychology reveals that shoppers are ten times more likely to make a purchase if they choose among six rather than 24 flavors of jam. Business leaders confronted with a long list of potential courses of action can pare down the choices by using a simple checklist-based approach to eliminating biases and screening bad decisions before they happen—freeing up resources to implement better alternatives. Lead decisively. — Edited by Rama Ramaswami, a senior editor in McKinsey’s Stamford office
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by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 03:53 - 9 May 2022 -
The world’s food supply chain is in crisis. Here’s why.
McKinsey&Company
Global food system crisis In the news • Scarce rice. The price of fertilizer has skyrocketed so much that rice farmers in Asia are using less of it, which, in turn, means that less rice will grow. As a result, rice crops could drop by 36 million tons by next season, an amount that would feed 500 million people. The lack of rice will likely contribute to the food inequalities already present in developing nations. And the high price of fertilizer is just one of myriad factors contributing to a growing worldwide hunger crisis. [Bloomberg] • Soaring food prices. As COVID-19-era supply chain issues continue, food prices across all categories have hit all-time highs not seen for decades. High fuel costs and worker shortages have now been compounded by recent events—including Russia’s invasion of Ukraine, a serious avian flu outbreak in the US, an ongoing and worsening drought in the American West, as well as border snarls delaying produce from entering the US. [WaPo] “The war in Ukraine threatens to disrupt the food system globally, well beyond the conflict zone.” On McKinsey.com • Regional and global repercussions. Millions of Ukrainians are trapped in the greatest humanitarian crisis since World War II, and among all else, their access to food amid the immediate conflict is in jeopardy. The war is also threatening to majorly disrupt global food systems: the Black Sea, whose north and northeast borders are Ukraine and Russia, respectively, is a key food supply hub. The region’s instability will undoubtedly have secondary effects on other breadbaskets dependent on its wheat and fertilizer. • A whiplash effect. To understand what’s at stake and at risk as the war continues—including the crucial roles that the region plays within the worldwide food system—McKinsey global editorial director Lucia Rahilly sat down with McKinsey partners Daniel Aminetzah and Nicolas Denis for The McKinsey Podcast on April 4. They discussed the supply chain strains already happening as a result of the Russian invasion, as well as potential outcomes and what can be done to help. — Edited by Justine Jablonska Listen in Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:41 - 9 May 2022 -
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by "Intel Corporation" <intel@plan.intel.com> - 11:00 - 8 May 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—during the pandemic and beyond. In case you missed them, this week’s graphics explored clothing waste in California, declining global economic sentiment, the transition to a global net-zero economy, strategic investments for merchant leaders, and elevated container freight rates. FEATURED CHART Waste not, want not 
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This week’s other select charts Gloomy days ahead? Greener beams Let’s go to the mall Pain in the boat
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Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to The Week in Charts newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:10 - 7 May 2022 -
What is the metaverse, and what does it mean for your business?
McKinsey&Company
Share this email Monthly Highlights, May 2022 You may have noticed an increasing number of job listings seeking out talent specializing in “the metaverse.” But what exactly is the metaverse, and why should your organization be paying attention to it? This month, our featured stories dive into this developing phenomenon as well as the realities facing companies looking to hire—and keep—top tech talent. Other highlights in this month’s issue include the following topics: - the CFO’s quickly expanding portfolio of responsibilities
- the growing global semiconductor market
- how CEOs can successfully manage the impact of inflation
- why Russia’s invasion of Ukraine risks tilting the food system into global crisis
Editor’s choice 
What is the metaverse—and what does it mean for business? No official definition yet exists for the metaverse, but companies can’t afford to wait until one does or the metaverse fully evolves to start experimenting and investing in it. Understand opportunities 
Tech talent tectonics: Ten new realities for finding, keeping, and developing talent Large incumbents can compete successfully for tech talent—but only if they’re ready to completely rethink their entire HR approach. Tech talent think and act differently. Don’t miss out THIS MONTH’S HIGHLIGHTS 
In conversation: The new CFO mandate How finance leaders can reconcile and fulfill their growing portfolios of responsibilities. Understand changing responsibilities 
The semiconductor decade: A trillion-dollar industry The global semiconductor industry is poised for a decade of growth and is projected to become a trillion-dollar industry by 2030. Look ahead 
Navigating inflation: A new playbook for CEOs Few chief executives have faced the challenge of leading a company through an inflationary spike like today’s. Lessons from strong leaders and bold action can help CEOs make the decisions that only they can make. Make smart moves 
The rising risk of a global food crisis The war in Ukraine poses a looming threat to the worldwide food supply. Here’s what’s at stake—and what might be done to help. Understand the issues 
Lithium mining: How new production technologies could fuel the global EV revolution Lithium is the driving force behind electric vehicles, but will supply keep pace with demand? New technologies and sources of supply can fill the gap. Keep up 
Charting net zero: Insights on what the transition could look like See the opportunities and risks of the net-zero transition through eight of our recent data visualizations. Zero in on net zero ALSO NEW Global Energy Perspective 2022 Capital investment is about to surge: Are your operations ready? Hybrid work: Making it fit with your diversity, equity, and inclusion strategy Author Talks: How to handle your work jerk Outsprinting the energy crisis As the cookie crumbles, three strategies for advertisers to thrive Author Talks: Actor Terry Crews wants you to open up Is worker power on the rise? Amid disruption, automotive suppliers must reimagine their footprints Overcoming global supply chain challenges How the fashion industry can get into a metaverse mindset Risk transformations: The heart, the art, and the science SPECIAL FEATURES 
CEO Excellence Now a New York Times bestseller, the #CEOExcellenceBook dives into the six mindsets that distinguish the best leaders from the rest. Order now 
McKinsey for Kids Explore the world of gaming in this kid-friendly interactive. Game on 
My Rookie Moment McKinsey senior colleagues discuss their early encounters with CEOs. Watch episode 8 
McKinsey Themes Essential reading on topics that matter. Get up to speed 
McKinsey Classics Effective storytelling can help build organizations and lead them through times of change. Read “The power of storytelling: What nonprofits can teach the private sector about social media.” Rewind 
Leading Off Read a sample of Leading Off, and sign up for it or any of our 40+ free email subscriptions. Subscribe — Curated by Eleni Kostopoulos, a digital publishing manager in McKinsey’s New York office Follow our thinking McKinsey Insights - Get our latest
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Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you are a registered member of our Monthly Highlights newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Highlights" <publishing@email.mckinsey.com> - 11:17 - 7 May 2022 -
Meeting the challenge of moms’ ‘double double shift’ at home and work
the Daily read
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AN ARTICLE A DAY, PICKED BY OUR EDITORS
Working moms, this one’s for you—and for everyone aiming to do more than pay lip service to a constructive work culture. (Hope I’m not interrupting the two minutes of peace between the end of your workday and the beginning of your second shift on the home front.) The pandemic’s impact and other factors are drawing renewed attention to the structural barriers women face in fully participating in the economy. Need a view on the way forward? McKinsey’s Future of America podcast has you covered with a new episode featuring Reshma Saujani, who founded Girls Who Code and the Marshall Plan for Moms. “We have to stop trying to fix the woman and instead fix the structure,” says Saujani. “If we don’t fix the structure—through paid leave, affordable childcare, flexibility, all the things that make it possible for women to be moms and to work—we’re never going to get to equality.” Check out this can’t-miss interview, just in time for Mother’s Day. — Torea Frey, managing editor, Seattle 
Meeting the challenge of moms’ ‘double double shift’ at home and work As the United States emerges from the pandemic, how can businesses build a more inclusive working environment to improve outcomes for women in the workforce? Listen and learn
Quote of the Day “Going forward in the next year, with the inflationary environment, companies that are able to offer something with value—so a better price, better packaging, something that offers value—while at the same time showing inclusivity or authenticity or other values consumers care about will do very well.” —Tamara Charm, McKinsey partner, on the rise of inclusive, sustainable consumers in a recent episode of McKinsey’s Future of America podcast
Chart of the Day 
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The McKinsey Crossword: The Kentucky Derby 11-Down: What the Kentucky Derby winner can win by also winning the Preakness Stakes and the Belmont Stakes. Can you solve it? Play now
Petrochemicals 2021: Regional fortunes and growing sustainability The industry has continued to recover after the initial shock of COVID-19. A deep dive into the numbers illustrates several implications for 2022. Stay ahead of the curve
The next horizon for grocery e-commerce: Beyond the pandemic bump Consumers will increasingly shop for groceries online in the years ahead. Retailers must make a series of strategic investments to keep pace. Understand shopper behavior
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Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 05:15 - 6 May 2022 -
What can CEOs do to tackle inflation? A lot, actually.
The Shortlist
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Our best ideas, quick and curated | May 6, 2022 View in browser
This week, a playbook for how CEOs handle inflation, which many haven’t dealt with for years. Plus, what’s driving the white-hot semiconductor market, and a McKinsey expert on the future of retail stores in the omnichannel era. 
Price pressure. Few chief executives have faced the challenge of leading a company through an inflationary spike like today’s. The consumer price index rose by 8.5 percent from March 2021 to March 2022 in the United States (a 40-year high), 7.5 percent in the eurozone, and 7 percent in the United Kingdom. More than half of advanced economies are grappling with year-on-year inflation above 5 percent. Stakeholder management. Operating in today’s uncertain environment, with a wider range of stakeholders, means that CEOs must think about performance in broader terms than just inflation’s implications for profitability. They have to lead with the complete business cycle and their complete slate of stakeholders in mind. Asking the right questions. There are many unknowns right now, and CEOs have to set priorities that work for their organization no matter what direction inflation takes. How can companies design products, services, and experiences to deliver value? How should they pursue repricing? What capabilities will increase a company’s resilience and control costs? How is the new talent landscape affecting compensation, benefits, and workplace norms? These are just a few questions CEOs should be mulling. To say this is a broad portfolio is an understatement. Our research into the behaviors and mindsets of excellent CEOs shows the pivotal role that chief executives play in setting a clear direction, aligning the organization, managing stakeholders, and serving as “motivator in chief.” The best CEOs act boldly, but they also listen a lot first, asking questions and empowering employees. Strategic partners. In “Navigating inflation: A new playbook for CEOs,” we look at how CEOs can create a strategy that does many things at once, including building digital, integrated, and agile supply chains; helping procurement leaders create value, not just cut costs; and setting prices to strengthen customer relationships. Creating an inflation program management office is crucial to this effort, allowing the CEO to set clear goals and communicate them to the entire organization. It also enables them to select a team of functional leaders who may not be department heads, and to empower the CFO or another direct report to coordinate these activities and carry out the mandate. Perhaps most important, the office can follow a systematic, fact-based approach to track execution, diagnose wins and losses, correct course, and learn.
OFF THE CHARTS The semiconductor market is hot. What’s driving it? With chip demand set to rise over the coming decade, the global semiconductor industry is poised to become a trillion-dollar industry by 2030. About 70 percent of growth is expected to come from the automotive, data storage, and wireless industries. 
Check out our chart of the day here.
PODCAST Making the metaverse your business No official definition yet exists for the metaverse, but companies can’t afford to wait until one does to start experimenting and investing in it. In a series of episodes from the McKinsey Technology Council’s new podcast, At the Edge, metaverse experts explore this ever-evolving cutting-edge technology—and what it means for companies.
MORE ON MCKINSEY.COM Singapore emerges as a new-business-building hub | Singapore, home to an array of large regional companies and multinationals, is especially well positioned to host new businesses that can scale quickly. How machine learning can improve student success in higher education | Deploying machine learning and advanced analytics thoughtfully and to their full potential may support improvements in student access, success, and the overall student experience. Making hybrid work fit with your diversity, equity, and inclusion strategy | New research details what employees love about hybrid work models and the risks to diversity, equity, and inclusion if managers get the evolving flexible workplace wrong.
THREE QUESTIONS FOR Tiffany Burns Tiffany Burns, a partner in McKinsey’s Atlanta office, works with apparel, consumer, and retail clients to design enterprise-wide and functional transformations. She leads the firm’s retail-store focus in North America. When we talk about the trends reshaping the future of stores, we see some retailers are getting omnichannel wrong. On the flip side, what are the best retailers doing on this front? Many retailers still think, “There are omnichannel interactions and store interactions, and I’m optimizing those two things separately. I have two different teams working on and thinking about those experiences.” But as a consumer, when I go on the retailer’s website or app, I expect to see availability, a connection to what’s in the store, and a way to order things that I can pick up in-store. I also expect to be able to stand in the aisle in the store and research a product. Today, consumers are figuring out work-arounds to do all those things: they’re switching over from the app to Google, looking up the product, and searching for reviews. But we see some retailers saying, “We’re going to make shopping a seamless experience for you. Our app will help you with wayfinding, give you inventory visibility in the store, and allow you to access all of our omnichannel opportunities to place an order and pick it up. We’ll allow you to stand in the aisle and do research on a product by scanning a QR code.” The best retailers—the ones who we believe will create winning omnichannel experiences in the future—are those who are solving for seamless interactions across channels. Demand is growing for same-day delivery and even instant delivery. But is a backlash also growing, particularly as it relates to congestion in some neighborhoods and cities? How should stores be thinking about zero wait time? The expectations for speed have significantly advanced. Five years ago, you didn’t expect an online order to get to you in less than a week. You also were completely fine ordering your Friday night pizza and waiting 90 minutes for it; you weren’t sitting in front of your phone and watching the dot as it turned down your street and stopped at the red light. The question gets down to, “Where is it all going to land? What will be the future standard for delivery?” What we do know, though, is when you tell a customer that it will take three days [to receive a product], how often they say, “Never mind.” We’ve seen that when the wait times are higher than customers’ expectations—and that varies; it’s not one definitive number for all customers—half of them will abandon their carts. Retailers lose sales when they don’t get this equation right. You asked about congestion. Funny enough, I had a delivery from a mass retailer to my house. The delivery person backed up across my driveway, onto my front yard, and onto the retaining wall. We had to get a tow truck and the police to come. And it was raining, so I was outside with the umbrella trying to help. It was too crazy. I thought, “I would’ve been so much better off just going to the store.” So, to your point, the inconvenience to neighborhoods that could come with zero wait time is a consideration. Although I don’t think we’re at a breaking point yet, you could imagine that we could be in the near future. Zero wait time almost certainly means more packaging, more delivery vehicles on the road—not great from a sustainability perspective. How should retailers reconcile those contradictions? Folks are starting to acknowledge that our delivery preferences are creating more waste. Some retailers are saying, “Are you willing to combine your shipments?” In the packaging space, they’re doing a lot in product development to try to use recyclable materials. One interesting example on the sustainability side is solar energy. IKEA, for example, is installing solar car parks. Is it as convenient for consumers to navigate the parking lot with these structures? Probably not. But consumers are excited to see retailers putting a stake in the ground and saying they want to be more energy efficient. They are more willing than they’ve historically been to trade off a little bit of convenience in the spirit of more sustainable outcomes. In the past year and a half, we’ve seen a broadening of the things that matter to consumers. One thing that matters to consumers now is diversity—both in terms of gender and race—of founders and creators of products on retail shelves. Consumers are saying, “I want to use my wallet to help promote equity. It’s one thing that I can do as an individual.” — Edited by Barbara Tierney Share this Q & A
BACKTALK Have feedback or other ideas? We’d love to hear from you. Tell us what you think
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Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to The Shortlist newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Shortlist" <publishing@email.mckinsey.com> - 01:13 - 6 May 2022 -
Grateful for moms? See three meaningful ways to support working parents.
McKinsey&Company
On working moms In the news • Childcare needed. Although the US economy has recovered from the early shocks of the COVID-19 crisis, there are still fewer active workers than prepandemic. That’s especially true for women, who often handle the bulk of childcare. Nearly 5 million Americans couldn’t work in early April because they were looking after kids who weren’t in school or daycare. Greater participation in the labor force is good for everyone because it increases productivity, which can in turn lower prices and tamp down inflation. But parents—in particular, moms—can’t come back to work if they don’t have access to affordable childcare. [Fortune] • Banish ‘mom guilt.’ Working moms, it’s time to let go of guilt, says Lara Bazelon, a law professor, criminal-defense lawyer, and mom of two. Kids learn important lessons from moms with careers, including how to develop independence and resilience. In fact, daughters of working moms enjoyed greater success at work than those with stay-at-home moms, found one study from 2018 that included about 100,000 individuals in nearly 30 countries. Adult sons of working moms did more chores around the home for their own families. [Atlantic] “The motherhood penalty, from a hiring standpoint and employment standpoint, still persists.” On McKinsey.com • Gendered role expectations. Men and women alike are subject to gendered role expectations that force them into boxes, says Joann S. Lublin, a former editor for the Wall Street Journal and author of Power Moms: How Executive Mothers Navigate Work and Life. Moms with kids under 18 earn 69 cents for every dollar earned by working dads. Generally speaking, that’s a much bigger pay gap than the one that exists between working women and men, reflects Lublin. In addition, many men are hesitant to take paid parental leave. • ‘Work–life sway.’ “The idea of work–life sway is that we accept that when we need to be 110% there for our jobs, we will, but if we’ve got to deal with our family, we will move into family mode,” says Lublin. Now that the work-from-home experiment has proven successful, Lublin adds, employers can make remote work a permanent policy, trusting their employees to figure out what works best. Read the full interview for how to fight stereotypical expectations at work and what companies can do to help parents succeed. — Edited by Belinda Yu Get her take Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 10:16 - 5 May 2022 -
What Black and Latino consumers want healthcare stakeholders to know
the Daily read
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AN ARTICLE A DAY, PICKED BY OUR EDITORS
Healthcare is a basic human right, yet health access and outcomes in the US vary across racial and ethnic groups. For example, many Black and Latino consumers have noted they receive lower quality of care due to their race. So what can be done to create a more equitable healthcare framework that works for everyone? A new article delves into the underlying sentiment, experiences, and attitudes around healthcare for Black and Latino consumers and explores four areas to improve health outcomes to address the root causes of healthcare inequity. Get perspective on what needs to be done to close the equity gap. — Joyce Yoo, digital editor, New York 
What Black and Latino consumers want healthcare stakeholders to know Understanding consumer behavior and attitude drivers may help stakeholders improve health outcomes and experiences for Black and Latino patients. Understand diverse needs
Quote of the Day “You really want to have a strong global company strategy that is fully aligned with large markets. The enemy of any go-to-market digital transformation is fragmentation… You need to ruthlessly prioritize, and recognize that six months down the road, new shiny objects could creep in to dilute your initial objectives, and slow down your ability to create big wins.” —Dr. Pius S. Hornstein in “Driving digital transformation in healthcare: An interview with Dr. Pius S. Hornstein, Country Chair Sanofi Greater China”
Chart of the Day 
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Also New 
A digital path to sustainability Sustainability and productivity needn’t be at odds when enabled by Fourth Industrial Revolution technologies. And with an empowered workforce leading the way, outsize gains can be the result. Make a green impact
Net-zero steel in building and construction: The way forward Rising demand for greener approaches creates an imperative for the industry to seize the moment, adopt new mindsets, and set standards for the transition to a greener future. Read the report
Building a green business: Lessons from sustainability start-ups Green tech and climate technology companies are rapidly altering the competitive landscape. With sustainability now a business imperative, incumbents need to move quickly—or risk being left behind. Protect the planet
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Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:29 - 5 May 2022 -
Securing Europe’s future beyond energy: Addressing its corporate and technology gap
McKinsey&Company
Share this email New from McKinsey Global Institute 
Securing Europe’s future beyond energy: Addressing its corporate and technology gap European leaders have shown great resolve in their initial response at scale and speed to the war in Ukraine. They will need to build the same momentum to face the region’s slow-motion corporate and technology crisis. An estimated €2 trillion to €4 trillion of annual value could be at stake—six times the amount needed for the net-zero transition—and with it Europe’s long-term prosperity and strategic autonomy. A program of 11 actions can turn the tide. Understand regional trends Related Reading 
A new look at how corporations impact the economy and households 
The net-zero transition: What it would cost, what it could bring Follow our thinking McKinsey Insights - Get our latest
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by "McKinsey Global Institute" <publishing@email.mckinsey.com> - 04:04 - 5 May 2022 -
Excessive energy costs are hurting European industry. Here are two ways to respond.
McKinsey&Company
Coping with the cost of energy In the news • Going green. The war in Ukraine is spurring Europe to reduce its dependence on foreign fossil fuels. These efforts could be speeding up investment in green energy. Already, large companies are building wind farms and installing solar panels to generate on-site power. Moreover, steep energy costs are increasingly prompting businesses to sign purchase agreements that secure clean energy at fixed rates. From January to October 2021, companies worldwide signed 203 such agreements, a 44% increase from the previous year. [Reuters] • Fuel, food costs rise. The energy price hikes of recent years have been the biggest since the 1970s. Now, the World Bank projects that fuel and food costs will continue to increase in 2022. According to its April report, energy prices will shoot up 50.5% from the previous year, while food prices will increase nearly 23%. Inflation is surging in many parts of the world. In the US, the consumer price index hit 8.5% in March, the highest it’s been in 40 years, and in 19 European countries, inflation climbed to 7.5% that same month. [WSJ] Our modeling indicates that companies that move boldly and quickly in two areas could improve margins by up to 10% while reducing their carbon footprint by 40%. On McKinsey.com • Soaring production costs. The energy crisis is hitting Europe’s industrial sector hard. Surging demand and the war in Ukraine have contributed to expensive energy prices. In energy-intense industries, production costs have spiked by nearly 50% in some sectors, McKinsey analysis shows. Moreover, futures markets are pricing European gas at double or triple its 2021 rate for the next three years. • Relying on renewables. Today’s high prices mean that using renewables to meet some of a plant’s energy needs could cut costs and improve price security. Before the current crisis, a chemicals company acquired some land next to its plant, intending to build a solar farm. Under a power purchase agreement, the project supplied 45% of the plant’s energy, with a one-year payback period. This project would pay for itself in weeks at today’s prices. By acting boldly, industrial leaders can make their companies stronger, cleaner, and more profitable for years to come. Two moves could create significant value for big energy users. — Edited by Belinda Yu Outsprint the energy crisis Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:37 - 5 May 2022 -
The “invisible” women who work in homes across America
Intersection Subject Line
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DELIVERING ON DIVERSITY, GENDER EQUALITY, AND INCLUSION
In this issue, we consider the women doing paid care work in America. THE VIEW 
“What a childcare worker produces is human potential. What a home care worker produces is dignity and quality of life for the people who raised us. What could be more valuable?”
— Ai-jen Poo
Ai-jen Poo is the cofounder and president of the National Domestic Workers Alliance. As she puts it from the podium: “We represent the 2.5 million women who work inside of our homes, who make everything else possible.” Who are these women? Who’s doing this work? More than half of US domestic workers are Black, Hispanic, Asian American, or Pacific Islander women—and for too long, Poo says, they have been “invisible.” Her advocacy began with a question: “Who’s taking care of them?” Poo points to a stark figure: $18,000. That’s the typical annual pay of a home healthcare worker in the US. “It would be difficult,” a recent White House brief notes, “to sustain a family by running a care-providing business.” Poo points out the irony: “The professionals we count on to care for us can’t care for themselves and their own families by doing this work.” Domestic workers sustain American families—and the US economy. A few stats for context: nearly one in four American children live with a single parent, and more than half of American families have two income earners. Meanwhile, 10,000 baby boomers are reaching retirement age each day; by 2040, more than one in five Americans will be 65 years or older. Most want to continue living in their current homes as they age, but they may not have access to long-term care. Poo lays out the stakes: “We rely on a workforce of professionals to provide care as early childhood educators, childcare workers, home care workers, and personal-care aides. These are jobs that can’t be outsourced. They’re not going to be automated. And, right now, they’re poverty wage jobs with high rates of turnover because no one can survive on $18,000 a year. These are going to be a huge share of the jobs in the future, and we have got to make them good jobs.” 
McKinsey research shows that domestic work is one of the top two areas (along with transportation) where net labor demand will increase the most following the COVID-19 pandemic. The increase in demand for domestic work in the US by 2030 is expected to be 16 percentage points higher than prepandemic estimates. Globally, the rise in demand will principally be driven by occupations such as home health aides and childcare workers. McKinsey analysis confirms that while automation can disrupt some domestic work—robot vacuums can help with the cleaning, for example—most tasks in this arena can’t be automated easily. As Poo points out in a conversation with strategist Heather McGhee, quality is essential to care—“and that quality is rooted in a human interaction and a human experience. The value is in the ability to support the human dignity of an older person or a person with a disability and the ability to nurture human potential.” Poo is calling for the US to invest in care as infrastructure. She sets forth a vision of a world “where every single person, regardless of age or ability, can get access to the care that they need at every stage of life” and “where the lives and the contributions of women and women of color are valued, seen, respected, and protected.” That means ensuring access to affordable childcare, paid family and medical leave, and long-term care—including for those who provide it. — Edited by Julia Arnous, an editor in McKinsey’s Boston office
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by "McKinsey Intersection" <publishing@email.mckinsey.com> - 12:09 - 5 May 2022 -
McKinsey’s State of Fashion Technology Report 2022
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AN ARTICLE A DAY, PICKED BY OUR EDITORS
Fashion’s been heeding the call of technology for years—and the industry’s future is looking even more digital, with fashion companies expecting to double tech investments by 2030 to stay competitive. There are many ways they can apply innovative digital resources to better serve customers and increase business efficiency. Where are executives leaning in, and what are opportunities for creatively using robotics, AI, and other technologies to their advantage? McKinsey’s State of Fashion Technology Report 2022 dives deeper on the dynamics and highlights five key technology themes with potential. Be sure to check it out. —Babi Oloko, digital editor, New York 
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
Quote of the Day “One factor that helps breed confidence around taking risks is having a deeply personal mission. Climate technology companies tend to take on bold objectives and—because it’s personally meaningful to them—ensure they get done end to end.” —Explore the three-step approach for incumbents seeking to build green businesses in "Building a green business: Lessons from sustainability start-ups"
Chart of the Day 
See today’s chart
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The business value of innovation in the cloud In this interview, TrueBlue’s chief technology and information officer explains why migrating to the cloud was always about far more than just technology. Follow the cloud journey
Skinny design: Smaller is better Designing packaging and products with supply chain and in-stock issues in mind can increase revenues and profits, all while meaningfully improving sustainability. Three steps can point the way. Implement new strategies
Author Talks: “If you don’t understand … how are you going to help?” List-based marketing can go in one ear and out the other for consumers, which is why one Fortune 500 adviser says the best branding combines empathy, connectedness, and good storytelling. Take a new approach
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:28 - 4 May 2022 -
[Online workshop] Error Management in New Relic
Register for this 90-minute online workshop to learn how New Relic can help you to manage errors in your applications. You will learn how to configure and manage errors in APM, browser, and mobile applications. You will also learn how to use New Relic Errors Inbox to proactively detect, triage, and act on errors across your application stack, all in one place.After attending this hands-on workshop, you will be able to:- Configure error reporting in New Relic APM
- View and troubleshoot errors in your APM, browser, and mobile applications
- Use New Relic Query Language (NRQL) to query and alert on error data
- Supplement error data with logs in context
- Use New Relic Errors Inbox to manage errors in one place.
Register now You can claim a free New Relic water bottle for attending this online workshop!*
*Find a list of countries we can ship swag to on the workshop registration page.
by "New Relic EMEA" <emeamarketing@newrelic.com> - 05:16 - 4 May 2022 -
The metaverse is becoming ever more real. What should leaders know?
McKinsey&Company
That’s so meta In the news • Mouthful of meta. You can do a lot of lifelike things in the metaverse, but you can’t smell the aroma of a grilling burger or scarf down real fries. Nonetheless, chain restaurants are investing in metaverse marketing in a bid to understand the new landscape’s potential. At one virtual restaurant, players who successfully build a virtual burrito win “Burrito Bucks” that they can spend on real food. Another fast-food chain debuted a virtual restaurant where visitors can play basketball. [WSJ] • Virtual world, real crime. As the metaverse expands and more experiences migrate into it, security experts believe criminals will be sure to follow. Cybersecurity is of course an eternal problem, but unique risks are introduced if someone hacks into your VR headset and uses it to peer into your office or bedroom, or control what you see and hear. Industry executives and cybersecurity consultants are increasingly preparing for the metaverse’s criminal element. [CBS News] “The most storied companies on earth are building a presence in the metaverse, and we have commerce in the tens and soon to be hundreds of billions of dollars.” On McKinsey.com • Coming to fruition. The metaverse has long been theorized but in the past few years, it has edged closer to reality, with hundreds of millions of people connecting every day, says metaverse expert Matthew Ball. Wide broadband penetration and abundant graphics-processing units have helped it pass a critical threshold of visual fidelity, functionality, and online participants. The business case is also firming up: last year, $60 billion or $70 billion was spent on nonfunctional virtual goods, up from $5 billion in 2015. • Future dimensions. “Companies need to be investing in the metaverse long before the revenue, the products, and the disruption are here,” Ball says in an interview with McKinsey. Over the coming years, look for companies to fall into four categories typical of transformational eras: those that lead in one era and are eradicated in the next, those that succeed in both eras, those that survive but limp through a new era, and those born in the new era that become even bigger than their predecessors. — Edited by Katy McLaughlin Explore the metaverse Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:40 - 4 May 2022 -
Advancing diversity, equity, and inclusion: New McKinsey on Government podcast episode
the Daily read
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AN ARTICLE A DAY, PICKED BY OUR EDITORS
As the world attempts a bounce-back from the pandemic’s challenges, barriers to diversity, equity, and inclusion efforts still remain. Burnout continues to be a widespread problem, especially for women shouldering bigger loads at work while struggling to unplug at home. The data’s clear that diverse organizations, in both the public and private sectors, deliver better performance and value—so how can we keep vital new perspectives in play? When leaders follow through on nurturing all three components of DE&I, it can foster a special, inspirational environment. Don’t miss a new episode of the McKinsey on Government podcast on how to create that in your own workplace. — Sarah Skinner, digital editor, New York 
Advancing diversity, equity, and inclusion During the COVID-19 pandemic, women have had bigger workloads—and have burned out in greater numbers. Government leaders can use proven approaches to address these issues and build better workplaces. Strive for better
Quote of the Day “When you put yourself into something, you are automatically exercising creativity simply because that cause, or project, or team you join has never had you. When you collaborate with another person, you are going to come up with something special.” —Terry Crews, actor and former NFL player, on creativity and collaboration in a recent Author Talks interview
Chart of the Day 
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Redesigning the design department The best corporate design departments are transforming from fortified castles into vibrant town squares. Dive into the data
Social media as a service differentiator: How to win With customers increasingly moving their service interactions onto social media, companies have an opportunity to leverage these channels to differentiate their service experience. Keep up
NatWest Chairman Sir Howard Davies on operational resilience in banking Sir Howard Davies discusses the ways regulations, interest rates, monetary policy, climate risk, and economic threats are affecting the resilience of the banking system. Learn from a leader
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Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:49 - 3 May 2022 -
Ten strategies to attract tech talent
McKinsey&Company
Get technical In the news • Branching out overseas. Software developers, coders, and other tech workers were once limited to employment in certain geographical areas. The COVID-19 pandemic upended all of that. Amid the massive shift to remote work and a tight labor market, US companies are stepping up their hiring of overseas tech talent. Demand for foreign tech talent increased 74% in the past six months. However, since bigger corporations can afford to pay higher salaries, a deeper global talent pool may also disadvantage smaller, local businesses. [Fortune] • New tech hubs. As the COVID-19 pandemic makes remote work a day-to-day reality, more tech workers are moving to places outside of the US’s “superstar cities.” Remote work spurred nearly five million workers in the US to move in 2020, and another 19 million plan to relocate. This trend, along with the proliferation of cloud services, aligned with greater investment in tech organizations beyond the typical technology hubs such as Silicon Valley. Now, more than half a dozen US metro areas are considered “rising stars,” with upticks in tech-related job postings. [WSJ] Our analysis shows that significant skill gaps in technology exist in seven areas, and we expect them to become more severe over time. On McKinsey.com • Hiring hurdles. The need for tech talent is intense, with more than three million cybersecurity roles across the globe unfilled in 2020. Remote work has made it easier for job hunters to seek better opportunities, and companies worldwide are trying to snap up tens of thousands of tech workers. Many are in a tight spot: in a McKinsey survey of senior executives, nearly 90% said their companies weren’t ready to address employee skill gaps. In addition, 61% of HR execs predict that hiring developers will be their biggest hurdle in coming years. • Ten talent tactics. Attracting and developing tech talent must be a top priority on executives’ agendas to keep pace with today’s digital demands. That may mean a revamp of the candidate experience, upskilling in-house talent, and weeding out bad practices. Based on McKinsey’s work on more than 80 technology transformations, we’ve identified the top things companies need to get right. Explore ten new realities that businesses should address to draw and develop the best tech talent, along with the seven skill areas most in demand. — Edited by Sarah Thuerk Grow tech talent Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:35 - 3 May 2022 -
Actor and former NFL player Terry Crews wants you to open up
the Daily read
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AN ARTICLE A DAY, PICKED BY OUR EDITORS
What if real toughness involves getting a little vulnerable? You’re probably familiar with Terry Crews from his TV and film work, including Brooklyn Nine-Nine. As an actor and former NFL player, he’s often seen as someone who is physically strong and ready for anything. But in his new book, Tough: My Journey to True Power, he pushes back on traditional standards of toughness and goes deeper on his journey to mental health and advocacy for gender and equity issues. He also touches on the creative process and how to ask for help. Don’t miss this new Author Talks interview for more on how business leaders can open up while getting tough. — Katherine Tam, digital editor, New York 
Author Talks: Actor Terry Crews wants you to open up The Brooklyn Nine-Nine actor and former NFL player tackles the issue of toxic masculinity and explores how “tough guys” can find strength in vulnerability. Break the cycle
Quote of the Day “I just encourage you to think about building that human connection before you think about how you might advance someone’s agenda. And get to know them a little bit and show yourself a little bit before you worry about proving yourself to them. And also, remember that spontaneous interactions can sometimes be the best ones” —Manish Chopra, McKinsey senior partner, on his first one-on-one conversation with a CEO in the latest episode of My Rookie Moment
Chart of the Day 
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Overcoming global supply chain challenges McKinsey’s Tom Bartman discusses what’s causing disruptions in global supply chains and how key stakeholders are responding. Understand the issues
Digital twins: The art of the possible in product development and beyond Digital representations of physical products are coming to life. Here’s how to make them work for you. Take another look
Rise of the inclusive, sustainable consumers How can businesses attract and retain customers when sustainability and inclusion are no longer “nice to have” but critical to business? And how can they do so successfully in this challenging economic environment? Understand key values
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Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:54 - 2 May 2022 -
A leader’s guide to new and improved communications
Leading Off
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ESSENTIALS FOR LEADERS AND THOSE THEY LEAD
There was no communication playbook when COVID-19 broke out. Beset by the pandemic and overwhelmed by information pouring in from governments and the media, the best leaders focused intensely on communicating with employees in a variety of ways and often in a tone they were not used to employing: by reassuring, listening, comforting, and trying to boost hope and resilience. Traditional top-down mandates gave way to informal and authentic conversations, often in virtual settings. As the crisis abates, the experience of forging deeper interpersonal connections can be a catalyst for lasting changes in the way leaders communicate with employees and stakeholders. This week, let’s explore what your new communications playbook might look like. AN IDEA 
Change your communication style to suit the ‘next normal’ So much changed during the pandemic—relationships between employers and employees, boundaries between home and work, people’s aspirations for the future. Leaders must build these profound shifts into every new communication they plan. As return-to-the-workplace models develop, the goal should not be to issue mandates but to nurture thoughtful two-way dialogues and work as a partner with employees to develop solutions. Listen to and engage with employees when presenting a picture of the future workplace, and keep in mind that a postpandemic, largely burned-out workforce will expect you to deliver compelling and inspiring messages. In the long term, connecting with employees, understanding their needs and feelings, and offering personalized experiences will be key to engaging and retaining workers.
A BIG NUMBER 5 Since returning to the office is such a sensitive topic these days, leaders might want to consider five key strategies to strike the right balance in communicating their plans to employees. Most important, they should avoid dictating an overarching policy that expects everyone back in the office: it signals to the organization that leaders may be engineering a throwback to the old ways—and might send employees running for the exit. It’s also essential to be clear on the “why”: Why do you need your team to be on-site? Even if people know what needs to be done and how to do it, they are rarely motivated to comply if they don’t understand why they should do it, as this Harvard Business Review commentary points out.
A QUOTE “Whether you are a CEO, a government official, a teacher or a parent, when disaster strikes you need to be able to give people who depend on you basic data to guide their response and an empathetic acknowledgment that things are perilous but will get better.” That’s Juliette Kayyem, director of the Homeland Security Project at Harvard University’s Kennedy School of Government. In this Wall Street Journal article, Kayyem contends that while today’s organizations have mastered disaster preparedness, they’re not adept at managing communications to ensure coordinated responses. Describing her own experience with an environmental disaster where local authorities were left out of the information flow, Kayyem recommends creating a daily situation awareness report—which can be an email or virtual meeting—that shares information with all stakeholders. Such reports should document “the actions that have been taken, those that need to be done, and problems that are likely to come up in the future—for example, a shortage in the supply chain,” she says. “It’s crucial to establish those systems now, because the next disaster could very well happen tomorrow.”
A SPOTLIGHT INTERVIEW 
For Carlos Migoya, CEO of Florida-based Jackson Health, being a good communicator depends on one thing: enjoying people. As a self-described “people person,” Migoya relied on connecting with employees to pull through the crisis when COVID-19 slammed his company. “The only thing I knew to do was leading with humility: telling people we don’t know what’s going on and working through this,” he recounts in this interview with McKinsey. “The worst challenge was the misinformation that was going on. What we were doing was fighting that more and more … we were having town halls with all of our employees twice a week.” In the future, listening to employees and attending to their needs will be the biggest change in how CEOs engage with their organizations, Migoya says.
WE NEED TO TALK 
Poor communication has tangible consequences in the workplace: 44 percent of respondents to a survey of executives say that communication barriers cause delays or failure to complete projects, and 18 percent blame miscommunication for the loss of sales, some worth hundreds of thousands of dollars. The worst culprits are people having different communication styles and not using the right communication tools. For example, presenting hard data to someone who prefers a more intuitive approach is unlikely to work, and sending emails to a recipient who responds best to in-person interaction may misfire. According to the researchers, “Future leaders must have the ability to communicate across styles and modes, reaching across generations.” Lead by communicating well. — Edited by Rama Ramaswami, a senior editor in McKinsey’s Stamford office
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by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 03:26 - 2 May 2022 -
Did the COVID-19 crisis disrupt learning in your household? See our latest report.
McKinsey&Company
Countering COVID-19 learning loss In the news • ‘Cognitive wobble.’ After two years of learning disruptions, students are working to catch up academically. Teachers and educational experts believe that now is the time for students to embrace struggling in the classroom. Indeed, one ingredient that hastens learning is when a person strives to be challenged, according to academic research. “My purpose is creating confusion, or cognitive wobble,” says one education company leader. “Like when you are learning to ride a bike and it wobbles—I am trying to create that mental wobble, so they have to think about it more.” [NYT] • Ongoing school closures. More than 400 million students in 23 countries are still unable to fully return to school because of COVID-19-related closures, according to a new report from UNICEF. The humanitarian organization says that close to 150 million kids have been absent from half or more of their in-person learning. Even when schools have reopened, some students—girls in particular—have not returned. Catherine Russell, executive director of UNICEF, says that she worries most for children who drop out of school and become susceptible to exploitation. [BBC] Education can affect not just an individual’s future earnings and well-being but also a country’s economic growth and vitality. On McKinsey.com • The cost of learning loss. Disrupted learning affects everyone, not just students. When lower levels of learning curb students’ potential for future earnings, that can reduce economic productivity. McKinsey analysis reveals that by 2040, COVID-19-related unfinished learning could cost the world economy $1.6 trillion each year. Academic losses have coincided with rising reports of mental-health struggles and violence against kids. School systems that act decisively can help students recover from academic losses and support emotional health. • Worldwide learning losses. As of January 2022, students worldwide have lost eight months of learning since the COVID-19 pandemic began, McKinsey analysis suggests. There are big differences across regions and countries. In the Caribbean, Latin America, and South Asia, students may have lost more than a year of learning, while in Europe and North America, students might be an average of four months behind. See our report for four priorities that school systems can consider as they support students in recovery and beyond. — Edited by Belinda Yu Get back on track Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:27 - 2 May 2022
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