1174 Posts found for Source: McKinsey Quarterly

McKinsey research found that workplace relationships account for 39 percent of employees’ job satisfaction. Moreover, relationships with management, in particular, account for 86 percent of workers’ satisfaction with their interpersonal ties at work. Yet, despite the importance of these manager–employee relationships, surveyed managers report spending almost three-quarters of their time on tasks not directly related to talent management.

Content: Quotation | Authors: Bill Schaninger, Bryan Hancock, Emily Field, Marino Mugayar-Baldocchi | Source: McKinsey Quarterly | Subjects: Human Resources, Management, Organizational Behavior

Creating effective teams depends on multiple factors, including high levels of trust and communication, and understanding team context. A new approach helps elevate performance and create value.

Content: Article | Authors: Aaron De Smet, Anaïs Fifer, Gemma D’Auria, Kim Rubenstein, Liesje Meijknecht, Maitham Albaharna | Source: McKinsey Quarterly | Subjects: Organizational Behavior, Teamwork

Take your jobs and your responsibilities very seriously, but don’t take yourselves too seriously.

Content: Quotation | Author: Judith Persichilli | Source: McKinsey Quarterly | Subjects: Career, Personal Development

Sometimes borrowing makes sense, to borrow to invest into something productive. But if you borrow just to consume, then eventually you get in trouble and your debt ratios become too high relative to your need to pay back your debts over time. It could be a problem for households, for the business sector, financial institutions, for governments, for a country as a whole.

Content: Quotation | Author: Nouriel Roubini | Source: McKinsey Quarterly | Subjects: Economics, Finance

Whenever you position something so that there’s going to be a winner and a loser, very rarely have I seen that be to anybody’s benefit.

Content: Quotation | Author: Ginni Rometty | Source: McKinsey Quarterly | Subjects: Management, Organizational Behavior

Resilience is the most important characteristic, along with curiosity, for any leader. It’s not exactly about what you know; it’s about those two dimensions. I think there are two ways to develop resilience: one is through the relationships you have… The second way is through your attitude.

Content: Quotation | Author: Ginni Rometty | Source: McKinsey Quarterly | Subject: Leadership

Asking for help is a sign of strength, not weakness, because you’re acknowledging what you or the organization know or don’t know… It takes a strong person to do that, to ask for help. When people won’t ask for help when they need it, I get very nervous. To me, that’s a great sign of weakness.

Content: Quotation | Author: Ginni Rometty | Source: McKinsey Quarterly | Subjects: Career, Organizational Behavior, Personal Development

We’ve got to move the whole country to a skills-view, not just degree-view, of jobs, and then hire for that and reward for that. This accomplishes many things. First, as an employer, I need more people with the right skills. Second, there are so many people left out of economic opportunity. This brings more people back into our workforce.

Content: Quotation | Author: Ginni Rometty | Source: McKinsey Quarterly | Subjects: Hiring, Human Resources

Daniel Kahneman was the psychologist whose findings helped launch behavioral economics. The encouraging words he shared with me offer good news for organizations.

Content: Article | Authors: Daniel Kahneman, Tim Koller | Source: McKinsey Quarterly | Subject: Organizational Behavior

One of the ways that I assess whether an organization has an inclusive culture is one of the simplest possible methods: Does the largest possible percentage of people speak of the organization in terms of “we” or “they”? If it’s we, it’s probably inclusive, and if it’s they, which it often is, then despite all the mission statements extolling diversity and inclusive culture—it’s not an … [ Read more ]

Content: Quotation | Author: Sally Helgesen | Source: McKinsey Quarterly | Subjects: Culture, Diversity, Human Resources, Organizational Behavior

If we’re going to live on average to age one hundred, we are certainly not going to be retiring at 65 or anything close to 65, because we’re not going to be able to earn enough money prior to 65 to finance retirement to one hundred.

We’re going to have to rethink retirement, we’re going to have to rethink careers, and we’re going to have to … [ Read more ]

Content: Quotation | Author: Myra Strober | Source: McKinsey Quarterly | Subject: Economics

We believe very firmly that there’s something foundational about cohorts. When we say “cohort,” we mean a group of customers that were acquired in a period, whether that’s a monthly cohort, a quarterly cohort, or an annual cohort. The 2021 cohort is a group of customers who made their first purchase in 2021.

What’s powerful about a cohort is that the membership of that group never … [ Read more ]

Content: Quotation | Author: Michael Ross | Source: McKinsey Quarterly | Subject: Customer Related

The opportunities to use customer analysis to change behavior go way, way beyond what is in the marketing domain—it goes to how we think about profitability, how we align channels, how we align the service propositions, how we align the operational experience, and how we understand which elements of products or categories are good for acquiring and retaining customers.

Content: Quotation | Author: Michael Ross | Source: McKinsey Quarterly | Subject: Customer Related

Understanding the time between first and second purchase is incredibly helpful. It is a very good discipline to understand, “Why do customers only buy once? How can we get them to come back? How can we get them to come back faster?” That drives a lot of very good behaviors.

Content: Quotation | Author: Michael Ross | Source: McKinsey Quarterly | Subjects: Customer Related, Marketing / Sales

When you look at a distribution of customer value, you will often see that a high-value customer—what we’d call a top-decile customer—can be worth 40 or 50 times a low-value customer. The notion of an average customer may be mathematically true, but it doesn’t really exist in practice or is extremely unrepresentative of a customer base.

Content: Quotation | Author: Michael Ross | Source: McKinsey Quarterly | Subject: Customer Related

Every business does some customer analysis. That’s a truism, but what I think is missing is a systematic, structured audit that consists of a set of foundational analyses that leave nowhere to hide, and that allows you to understand at a very deep level how customers are behaving.

Content: Quotation | Author: Michael Ross | Source: McKinsey Quarterly | Subject: Customer Related

Narcissism. Overconfidence. Low EQ. Why do we persist in selecting for leadership traits that hamper organizational progress—and leave the right potential leaders in the wrong roles?

Content: Article | Authors: Brooke Weddle, Bryan Hancock, Tomas Chamorro-Premuzic | Source: McKinsey Quarterly | Subjects: Diversity, Human Resources, Leadership, Organizational Behavior

Yes, organizational health still drives long-term performance—but the way leaders measure and diagnose health should change, new research shows.

Content: Article | Authors: Brooke Weddle, Bryan Hancock, Lucia Rahilly | Source: McKinsey Quarterly | Subject: Organizational Behavior

Psychologists have identified more than 60 cognitive biases that affect how people make decisions. We boiled them down into four groups: group think; confirmation bias; loss aversion, which leads us to put more weight on losses than gains; and anchoring or inertia—anchoring decisions in what we did in the past.

Content: Quotation | Author: Tim Koller | Source: McKinsey Quarterly | Subjects: Decision Making, Organizational Behavior

Public companies are often not set up for innovation, partly because their compensation systems tend to be short-term-oriented and because the boards aren’t deeply enough involved in innovation. […] We’ve seen a tremendous amount of innovation in the past 20 years, but a lot of it has come from younger, newer companies. Despite all the talent, capital, and customer knowl­edge established corporations have, there … [ Read more ]

Content: Quotation | Author: Tim Koller | Source: McKinsey Quarterly | Subject: Innovation