Skilled workers are in short supply. US manufacturing and construction is facing skyrocketing demand while the talent pool remains limited. Meanwhile, high turnover rates—especially for critical “pinchpoint” roles—could cost companies more than $5.3 billion every year in talent acquisition and training costs. Our new article examines the scope of this challenge and outlines what companies can do to develop the talent pipeline and reduce churn. In the short term, with labor increasingly scarce and expensive, upskilling talent will be critical. Find out more: https://mck.co/4cSpp8k #Talent #Workforce #SkilledTrades
McKinsey People & Organizational Performance
Business Consulting and Services
We equip people and organizations to unleash sustained performance.
About us
Amid today’s workplace and talent revolution, organizations need the ability to transform again and again. Success relies on your most critical resource – your people. From your employee value proposition to your operating model, every part of your organization needs to be set up to enable talent and drive momentum. McKinsey's People & Organizational Performance practice helps you realize your strategy today and sustain performance in the future.
- Website
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https://www.mckinsey.com/business-functions/people-and-organizational-performance/how-we-help-clients
External link for McKinsey People & Organizational Performance
- Industry
- Business Consulting and Services
- Company size
- 10,001+ employees
- Headquarters
- New York
- Specialties
- Change Management, Culture, Digital, HR Strategy, Leadership Development, Merger Management, Organizational Design, Organizational Health, People Analytics, Talent Strategy, Transformation, Purpose, Talent Management, and Agility
Updates
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Healthy organizations are 3x more likely to outperform unhealthy ones—regardless of industry. They are also more resilient and better able to manage downside risk. How should leaders begin to think about organizational health? Join us on April 24 for a webinar exploring our recent research and key management practices for organizational success in the new world of work. Register here: bit.ly/43fAEmZ #OrganizationalHealth #OrganizationDesign #Resilience
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Despite a rapidly changing business landscape, the business case for diversity, equity, and inclusion (DE&I) not only holds, but grows even stronger. In fact, our recent report finds that leadership diversity is linked with holistic growth ambitions, greater social impact, and more satisfied workforces. Our conversations with leaders reveal 5 strategies to effectively turn words into action. Discover more: mck.co/3t01Dpb #Leadership #Diversity #Inclusion
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Organizations that implement effective skilling hubs to accelerate the transformation of employees’ skills can reskill talent in just 2–12 months. Our recent blog post identifies the key factors for a successful skilling hub. Learn more about this powerful tool to transform a workforce for the future: mck.co/46F5h65 #Talent #Reskilling #FutureofWork
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Middle managers face many challenges in the modern workplace. Companies often treat middle management as a catchall, requiring managers to spend much of their time handling nonmanagerial work and navigating organizational bureaucracy rather than fostering talent. In an interview with Digiday Worklife, McKinsey’s Emily Field discusses what middle managers need to lead winning teams. Read more here: bit.ly/48Jt31u #Talent #MiddleManagers #Leadership
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A growing number of CEOs are turning to a chief transformation officer (CTO) as a vital member of the executive team to lead a holistic transformation rather than relying exclusively on existing structures and roles. Effective CTOs maintain an independent perspective and have experience in leading organizations through prior challenging or ambiguous situations, with an unrelenting focus on impact delivery aligned to strategic priorities. Learn more about what CTOs do and how they can be successful: mck.co/46OwmTY #Leadership #ChangeManagement #BusinessTransformation
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At the recent Financial Review Workforce Summit, the potential for generative AI to boost productivity was a hot topic across panels, sectors, and leading voices. Here are 3 key takeaways from the summit that organizations should consider to build the right skills: - Strategic AI adoption: There is a pressing need to move past piecemeal approaches and embrace a coordinated strategy - Get out of “pilot purgatory”: Not having a clear internal path to scalability is holding back the productivity potential of many well-intentioned tech pilots - The best AI transition paths involve human co-pilots: Organizations need to act now to ensure that workforces are skilled, adaptable, and ready to work with generative AI Read more: https://mck.co/4al0etD #AFRWorkforceSummit #GenerativeAI #Talent #FutureOfWork
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Much of the value derived from a transformation is typically achieved within its first few months. A swift transformation is key to unlock success. Organizations that make quick and meaningful improvements are 1.2x more likely to outperform their peers. To speed things up, leaders can identify and execute quick wins and create a road map of iterative sprints for more complex transformation initiatives. Learn more about gaining—and sustaining—a competitive edge through transformation: mck.co/3Q62RGW #BusinessTransformation #ChangeManagement #CapabilityBuilding
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In an era marked by rapid business transformation, the quest for a resilient and adaptable workforce is paramount to driving improved productivity. How can organizations proactively shape their workforce for the challenges and opportunities ahead? Join us on Thursday, April 18, for a virtual event featuring insights from experts and industry leaders who have successfully navigated frontline talent challenges to secure a more productive and stable workforce. Register here to attend: https://mck.co/3TMCPeF #Transformation #Workforce #FutureOfWork
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The energy sector is in a state of flux, but thinking strategically now about leadership and talent could position energy organizations favorably in a complex climate. Competition for talent continues to be fierce, with a focus in recent years to secure specialist engineering, digital, and commercial talent to develop new businesses and capabilities. The question is, how can firms enhance their attractiveness to the talent market? Dive into our recent State of Energy Organizations 2024 report to find out: https://mck.co/3HuaS4u #McKinseyInsights #Talent
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