US is investigating McKinsey over its role in the opioid crisis . Curbing emissions of methane from agriculture, oil and gas, coal mining, solid-waste management, and wastewater management will be critical to solving the net-zero equation. This week’s additions to the series include Gregory B. Fairchild on the next frontier in racial equality and Nicolai Tillisch on how to frame ambition (and not let it frame you). Climate change is similar in some ways: a difficulty we have to plan for, deal with, and overcome every day. As the COVID-19 crisis drags on, executives, particularly in developed economies, are feeling worse about the state of the economy and their own companies’ prospects. McKinsey recently examined inflation from several angles. Broadly speaking, developing countries have less mature cold-chain systems than do high-income economies, with various degrees of maturity within them. This month, McKinsey had good news to report on many aspects of the world economy, but also offered a sobering look at how variants—in particular, the Delta variant—are bringing a fresh tide of bad news. For those in the workforce wondering when 2020’s pace of work might relent, here’s one encouraging sign: Nair says, “This speed is unsustainable.”.
In a deep analysis of the state of Black America, our experts envision what the future could be for nearly 13 percent of the US labor force. This interview is part of COVID-19 vaccines: The road to recovery and beyond, a series that includes a broad array of voices leading the historic global effort to develop, distribute, and provide equitable access to COVID-19 vaccines, including the Africa CDC; CEPI; Gavi, the Vaccine Alliance; and Moderna. Because each company is different, key first steps include identifying unique strengths and honing in on the most critical objectives (exhibit). But with employees feeling anxious and burned out, getting the balance of the new hybrid model right is critical. Also new this week, we outline a new portfolio model for biotech; consider the potential for “smart quality” assurance in pharmaceuticals; and share tips for government leaders to unlock diversity and inclusion. Also this week, our industry researchers investigated the potential for incumbent telcos to unleash digital attackers and surveyed consumers on all things mobility: autos, both gas and electric powered; trucks; and autonomous vehicles. Flip the odds. In a video explaining why container shipping prices have surged, McKinsey partners say that sending a container from Asia to Europe or North America cost roughly $2,000 before the pandemic and $12,000 or more today. When lockdowns forced consumers to remain at home, US e-commerce experienced ten years’ growth during the first quarter of 2020. One unexplored factor may be at work: the different patterns of human interactions. While pundits worry, our analysis shows that, As businesses emerge from the pandemic, more than 80 percent face critical skills gaps. For more perspectives, please see the full collection of our coronavirus-related content, visual insights from our “chart of the day,” a curated collection of our first 100 articles relating to the coronavirus, our suite of tools to help leaders respond to the pandemic, and how our editors choose images that help readers visualize the impact of an invisible threat. Business leaders crave new perspectives. Growing e-grocery leads to the question of whether brick-and-mortar grocers will survive in Europe, and if so, which formats are best positioned for success? To better understand how leading banks achieve more with their technology budget, we looked at how their workforce is configured, on three dimensions: spending, roles, and talent. That’s how much McKinsey’s experts project it will cost to prevent another pandemic like COVID-19, which has caused what may become a $16 trillion global economic disruption (exhibit). While 49.6 percent of inhabitants of high-income countries had received at least one dose of the vaccine as of July 14, only 1 percent of those in low-income countries had. Our report collection includes a 172-page report on technology and data transformation, a 130-page report on the path to true transformation, a 206-page report on reimagining the postpandemic organization, a 157-page report on the challenge of climate change, and a 202-page report on reimagining operational resilience. By 2030, consumers may get tattoos where they buy mascara; seek advice from the fridge, which talked to the mattress, about what to eat in order to sleep better; and triage their medical conditions at home before reaching out to a doctor. McKinsey & Company: From no mobility to future mobility: Where COVID-19 has accelerated change The COVID-19 pandemic has disrupted mobility, and its effects will linger well into next year. There is no clear path to mitigate the damaging effects of climate change that doesn’t include natural climate solutions. These challenges also worry business leaders seeking the next normal. We were pleased to speak with two notable industry leaders this week. Companies risk alienating their employees—and even losing them—if they refuse to acknowledge the disconnect between how employers and their workers see the future. The crisis underscored domestic manufacturing’s role in providing critical health, safety, and national-security products as well as the sector’s need to invest, modernize, and revitalize the manufacturing process (exhibit). In the short term, 70 percent of corporate-center executives plan to reconfigure office space, as do 54 percent of business-unit leaders. The stakes are high. McKinsey takes summer reading seriously. Among the ideas: take advantage of the stunning developments in e-commerce. See our interactives about the scenarios and the surveys here. That’s the sad story behind the 2.3 million US women who left the workforce in the first year of the pandemic. Deemed one of the "Big Three" consulting firms, a job at McKinsey is more than coveted. The CEO’s first move was to put himself under pressure: with approximately 70 engineers, he promised to launch a business in two markets within 18 months. McKinsey says COVID-19 is just one of many supply-chain disruptions CEOs need to prepare for going forward Matthew DeBord 2020-12-07T14:35:09Z Will 2021 be the year in which the United States gains a decisive upper hand in its fight against the pandemic? At Tesco, online sales doubled in the United Kingdom, where the company has a strong online business, and in Central Europe, where growth is coming off a low base, said Matthew Simister, Tesco’s Central Europe CEO, in an interview. He discusses his new book The Edge: How 10 CEOs Learned to Lead—and the Lessons for Us All, which explores the thought processes behind leaders’ pivotal choices. In a conversation with McKinsey, the authors discuss how nudges can help people make better choices and combat “sludge,” which are processes burdened by aggravating requirements.
In our new comprehensive report, we outline ten actions that industrials can take to undo the damage and pivot to a postcrisis future. The book analyzes the implications of electronic payments—already huge in China—for banks, cryptocurrencies, and society’s relationship with money. Private markets experienced a year of disruption, starting with a “COVID correction” in the second quarter and followed by a K-shaped recovery that favored private equity and left real estate lagging. McKinsey experts analyzed changes to consumer profiles in Asia, the consequences of women’s exodus from the workforce, and why more than 70 HR leaders believe this is a new era for their profession. Rentals Details: McKinsey & Company Salary (2020) At McKinsey, the salary for entry-level consultants (Analysts) ranges from $90,000 to $110,000 per year, while the figure for MBA-level/experienced Associates can go up to $233,000.Engagement Managers typically earn around $250,000, while Partners and Directors can earn up to $1,300,000 . In the United States, 23 states have established emission-reduction goals, and 12 have instituted carbon-pricing policies. And Twilio CEO Jeff Lawson talked about how to close the communication gaps between business leaders and software developers in a conversation with senior partner Paul Roche and partner Shivam Srivastava. In the latest Future of Asia Podcast, our experts delve into the question of whether ASEAN can maintain that track record after the difficult challenges of COVID-19. As executives take stock of what’s just happened, and what’s to come, they won’t go far wrong by considering the ten trends that authors Kevin Sneader and Shubham Singhal analyzed and the effects of those trends on the global economy, business, and society. That barely beats skipping school altogether. Despite hiring leading consultancy firm McKinsey, as first reported by POLITICO, the country is seriously lagging behind most EU countries. The. Those that were still scaling faced a reality check, and 2020 was a wake-up call for those that hadn’t yet started on their Industry 4.0 journeys. In the postpandemic era, much is possible. Here’s one of the more intriguing statistics from last year’s Women in the Workplace research: 77 percent of men think they share the load at home equally with their partners, while just 40 percent of women agree. The final installment is coming as part of Our New Future, a multimedia series we created with CNBC. McKinsey experts used this same problem-defining approach to examine how to improve women’s work lives, reduce methane emissions, make organizational transformations more effective, and drive revenue in meal delivery. The latest US Bureau of Labor statistics show that recent employment gains dramatically favor men. An app that would allow travelers to manage verified certifications for COVID-19 vaccines and test results, for example, would be handy. In a crisis, it’s all hands on deck. The global banking industry had already been undergoing major changes when the pandemic struck. One of the many side effects of the pandemic has been the . Women of color continue to lose ground at every step: between the entry level and the C-suite, their representation drops off by more than 75 percent. Achieving climate neutrality by 2045 is feasible for Germany, though daunting. Katharine Hayhoe, chief scientist for The Nature Conservancy, discusses her new book, Saving Us: A Climate Scientist’s Case for Hope and Healing in a Divided World (Simon & Schuster, September 2021). The novel was inspired by the author’s pre-McKinsey career as an analyst with the CIA, when he worked in field stations across the Middle East and focused on Iraq, Lebanon, and Syria, and counterterrorism issues. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more, Inspire, empower, and sustain action that leads to the economic development of Black communities across the globe. Neff examines why women shame themselves for failure and how they can learn to be kind to themselves while fighting for their professional wants and needs. Science-fiction scenarios may depict computers developing minds of their own, but the work of updating algorithms, adjusting risk models, and deciding how data will be leveraged is still very much a human job. Global managing partner Kevin Sneader and senior partner Shubham Singhal explore the good policies, political commitment, and hard work that will be needed to replicate those successes. Manufacturing is concentrated in a handful of countries; regions without manufacturing must import the vaccine (exhibit). These leaders should focus on reducing the stigma of mental illness and on cultivating a corporate culture conducive to mental wellness. Pros. It was a year of big percentages for European grocers: in 2020, the online grocery channel grew by 55 percent, 60 percent of customers changed their shopping behaviors, and the industry sold 8 percent more groceries by volume. Asian Americans have long struggled for equality in the workplace, a fact reflected by their low representation in senior-level jobs relative to their representation in entry-level jobs. COVID-19 underscored how important it is to have tools that improve decision making in a crisis. Densely packed urban residents are particularly vulnerable to the effects of climate change. McKinsey’s Aerospace & Defense Practice examines how to handle the four main types of extraterrestrial trash. As part of our research into the, Increasingly, private-equity (PE) firms are closely managing the companies they own. Two new reports look at the changes wrought by COVID-19 in the United States and assess their long-term effects. As COVID-19 highlights vulnerabilities in global supply chains and resilience takes priority, McKinsey Global Institute report calculates ongoing cost of shocks and prospects for manufacturing to . The velocity of change coming out of the pandemic is generating new forms of financial and operational risk as companies grapple with inflation, capacity constraints, and supply-chain disruptions. For America’s leaders, innovators, and changemakers, the post–World War II recovery offers valuable lessons for encouraging productivity, innovation, and social-capital creation in a post-COVID-19 future. McKinsey researchers examined how it was possible to gain approval for three COVID-19 vaccines in a mere 11 months. Fintech start-ups are nipping at banking incumbents, but an active, The Fourth Industrial Revolution means that, STEM-oriented, digitally capable employees have lots of job choices these days, which is a headwind for aerospace and defense companies. As consumers increasingly consider wellness when they make purchases, the opportunity to serve their needs is growing (exhibit). The report, based on surveys of consumers in China, France, Germany, the UK, and the United States, analyzed a series of pandemic-induced spending behaviors to predict which would outlast the crisis. Even amid so much change, television advertising is still relevant. McKinsey identifies the most promising revenue models, which include “dark kitchens,” customer-specific menu engineering, and brand spin-offs. Given that imbalance, and the enormous burden (three hours a day, or more) that COVID-19 has added to women’s workload, it may be less surprising that one-quarter of women in corporate America are thinking about leaving. This week, McKinsey examined the one constant throughout this turbulent era: the need to learn, adapt, and change. The story there is mixed. It can be jarring to remember that less than a year ago, nobody, outside of clinical-trial volunteers, could get a shot at all. But the United Kingdom faces other problems, such as the plight of small and medium-size businesses, which we described in June 2020. Companies emerging from the crisis are realizing that workforces require new capabilities to face the digital and environmental future. To build a better one, buyers, sellers, and a few other stakeholders need to come together. Defense leaders have renewed interest in adopting innovative technologies, such as quantum computing, artificial intelligence, and hypersonic weapons. McKinsey's most recent survey of approximately 2,400 auto consumers in 19 major Chinese cities shows declining brand loyalty, a marked preference for trading up among . Across Asia, and the world, work is changing as digitization and automation spread. Among the many cruel and strange aspects of the COVID-19 pandemic is the fact that good and bad news often seem to arrive at the same time. McKinsey Sees Fast But Uneven Consumer Rebound From Covid Crisis. This week, we looked more closely at the problems in vaccine distribution. The good news is that a meta-analysis shows that for every dollar companies spent on wellness programs, their healthcare costs fell by approximately $3.27 and their absenteeism costs by about $2.73. “It’s too early to tell if McKinsey and others are adding value in this campaign,” he said. This week, McKinsey examined a variety of unexpected pandemic consequences and looked for ways to address them. The September edition of Voices on Infrastructure features four articles that explore how leaders are tackling the seemingly insurmountable task of building sustainable infrastructure and retrofitting existing assets. McKinsey’s July survey of 100 large private-sector US hospitals revealed that amid returning patient volumes and continuing COVID-19 hospitalizations, challenges in clinical-support staffing remain high. Here are some of this week’s other key findings from our research: Our new edition of McKinsey for Kids starts with the mess scattered around a typical kid’s bedroom and ends in Asia where K-pop is influencing the world’s popular culture.