HR's Role: From Processes to People

An article by McKinsey & Co. states that to build organizational resilience and generate value, HR leaders must do four things: Engage more directly and deeply with employees. Let employees bring their "whole person" to work. Spread decision-making across the organization. Expand their view of "talent" across the whole ecosystem. Read article

STAFF DEVELOPMENT BRINGS 4 COMPANY ADVANTAGES

Between 71% and 90% of survey respondents, according to McKinsey & Co., say their companies' skill transformations have had four positive outcomes: The ability to realize company strategy Employees’ performance Employees' satisfaction Reputation as an employer Read article

Fuel Retail in Age of New Mobility

An April 1 article on retail fueling by McKinsey & Co. states, "With the industry at a crossroads, operators need to move quickly to rethink strategy, build new capabilities, and transform their businesses." Read the article

The Next Normal: Trends That Will Define 2021

McKinsey & Co. on Jan. 4 released an article that examines what 2021 will look like for business. According to the article, trends will include: A return of confidence and consumer rebound Leisure travel bounces back, but business travel lags A wave of innovation and new entrepreneurs Accelerated Fourth Industrial Revolution Changed shopping behaviors Supply chains balance, shift Future of work arrives ahead of schedule A biopharma revolution Accelerated portfolio restructuring Increased sustainability Click for article

COVID-19'S IMPACT ON AUTONOMOUS VEHICLES

A Dec. 1, 2020, article by McKinsey & Co. tells the other side of the robo-taxi story: private autonomous vehicles. "Many companies recognize AD’s (autonomous driving's) enormous potential and are forging ahead," the article states. "But in addition to technological hurdles, they face many uncertainties, including those related to the COVID-19 pandemic, the exact regulatory requirements that will be established, and customer willingness to pay. These could affect both the availability and adoption of AD features." Click for article

SUPERVISORS MAKE OR BREAK EMPLOYEE JOB SATISFACTION

An article from McKinsey & Co. states businesses that seek external social contributions should look in the mirror. Improving workers' job satisfaction, according to the article, could be the most important thing businesses do. It's a defining moment. How can companies conserve cash and aggressively restructure? Simply keeping employees happy can boost profitability and enhance organizational health. Click for article

PREVENTING FUTURE WAVES OF COVID-19

An Aug. 31 McKinsey & Co. executive briefing explores key lessons learned during the first seven months of the COVID-19 pandemic and how to apply them. Because businesses are taking on crisis response in numerous countries, many of the ideas are as relevant to private-sector leaders as to those in the public sector, according to the article. Interventions within the briefing are divided into three categories: Detecting disease Reducing the number of new cases Limiting mortality Click for article

The CEO Moment: Leadership for a New Era

The COVID-19 pandemic is a challenge for businesses and their CEOs: an abrupt dislocation of how employees work, how customers behave, how supply chains function, and even what constitutes business performance, according to the McKinsey & Co. report "The CEO Moment: Leadership for a New Era." Confronting the moment, CEOs have shifted how they lead. The changes have great potential beyond this crisis. The report explores four shifts in how CEOs are leading that are also better ways to lead a company: Unlocking bolder ("10x”) aspirations. Elevating their “to be” lists to the same levels as “to do” in their operating models. Fully embracing stakeholder capitalism. Harnessing the full power of their CEO peer networks. If these shifts become permanent, according to the report, they could hold the potential to recalibrate organizations and how they operate, companies' performance potentials, and their relationships to critical constituents. Click for report

Innovation in a Crisis: Why it's More Critical Than Ever

A McKinsey & Co. article asserts that the COVID-19 crisis presents an opportunity few feel equipped to pursue. Among surveyed executives across industries, only 21% said they have the expertise, resources and commitment to pursue new growth successfully. Nearly 75% said changes brought about by the COVID-19 pandemic will be a big opportunity for growth, with variation across industries. Nevertheless, most leaders are focusing on current problems instead of the future. This decline in focus on innovation is evident across all industries surveyed except for pharmaceuticals and medical products, which show a nearly 30% increase in the immediate focus on innovation. Click for report

How to Seize the EV Fleet Charging Opportunity

Services to support charging electric vehicle (EV) fleets could be worth $15 billion in annual revenues and cost savings. Much of that activity would come from three activities, according to a McKinsey & Co. article by Rob Bland, Wenting Gao, Jesse Noffsinger and Giulia Siccardo: Procuring renewable power directly from the source. Offering energy management services. Providing ancillary grid services. Four elements will need to be in place for companies to capture the opportunities in the EV fleet charging market, according to the authors: Hardware and software integration. Digital, analytics and connectivity. Large base of installed EV chargers. Access to price signals. Click for article

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