McKinsey & Company’s Post

This is a fascinating report, McKinsey & Company. To address one of the points—upskilling. We see this all the time, and it's a real test of #management. If you ask any manager, leader, or person responsible for others, "Who is the most talented in your team?" they will have a good gut feel. They will also have a gut feel for who is not the most skilled/capable/talented. Most of the time, they are spot on. What is often missing, however, is documentation. What skills should exist (today and tomorrow)? Where are people in terms of their current capability levels? Where should or could they be with appropriate training? Who gets trained first? Which processes are prioritised? It's a bit like peeling back an onion, one layer after another. It's easy to give up and rely on gut instinct, but that only gets you so far. We genuinely believe that simple, visual metrics like the Skills Matrix can help. The idea is that one report shows the top skills, all team members, and a range of capabilities, often depicted with colour (think #RAG). The simplicity of the reporting provides an informed view of a team's capability within 5 seconds from 5 feet! The true acid test is to inform managers, leaders, and team members themselves about the current state of skills capability in their teams. If every organisation used a skills matrix, we would see a significant improvement in organisational efficiency both globally and regionally. While you may think that this would detract from providing opportunities to the unemployed, think bigger—MUCH BIGGER. In fact, what you end up with are organisations that can rapidly upskill internal resources, create economies of scale to become more competitive, and result in more growth. Once these optimised teams have absorbed the additional resources created from upskilling, they can look to employ additional talent (the unemployed) and engage and upskill them rapidly, continuing the evolution. Key here: start with a skills matrix. https://lnkd.in/eUEhti3n #skillsmatrix #effectivetraining #effectivemanagement #effectiveleadership

Brilliant report from McKinsey & Company

For almost two decades, labor markets across advanced economies have tightened—and the trend is set to continue, imperiling GDP growth. Explore the long-term trends and future prospects of labor markets in advanced economies in 20 charts: https://lnkd.in/gGyYaKHc

For almost two decades, labor markets across advanced economies have tightened—and the trend is set to continue, imperiling GDP growth. Explore the long-term trends and future prospects of labor markets in advanced economies in 20 charts: https://lnkd.in/dW4Cje8s

For almost two decades, labor markets across advanced economies have tightened—and the trend is set to continue, imperiling GDP growth. Explore the long-term trends and future prospects of labor markets in advanced economies in 20 charts: https://lnkd.in/ezzhV-49

For almost two decades, labor markets across advanced economies (including right here in the DMV region of the US) have tightened—and the trend is set to continue, imperiling GDP growth. Explore the long-term trends and future prospects of labor markets in advanced economies in 20 charts: https://lnkd.in/e-bTyWGJ

Number of listed companies vs. Real GDP vs. Population in LARGE Countries. The graph shows the above variables for 5 of 10 countries with 1 4 All Market Classification: Large. Interestingly, out of 10 Large Companies, 50% are Developed Markets and Emerging Markets. #investing #14all #economy #stockmarket

Our GDP growth forecast for the US has risen from 1.3 to 1.8, whereas our forecast for China has dropped from 4.9% to 4.7%. Discover how this will affect the global growth outlook in our latest report: http://econgrp.co/r5

Research and data show that for both developed and emerging economies, there is no clear pattern to linking market returns with the economy. GDP reports and recession calls are just one of many data points to consider in investments.