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The COVID- 19 pandemic has brought back old fears about the viability of the globalized supply chains. In case there is a contraction in the same, there will also need to be a redesign in the policy over subcontracting, which has been flourishing. It has been so popular thanks primarily to the increased sophistication now needed for manufacturing. Specialists are then most valued during the talent recruitment process. Good and services that are trade-able have also increased in number. While reassessing the supply chain risk, the policy makers will need to consider regionalization. This will ensure specialization, while also allowing for reduced exposure to such risks. Additional safety stocks or second sources need to be developed. The scale and product mix, likewise needs a rethink.

Source:https://sloanreview.mit.edu/article/is-it-time-to-rethink-globalized-supply-chains/

Uploaded Date:24 March 2020

The first two decades of this century have seen much change to the working environment. For one, the overall employment figures have risen, though the markets are more polarized than ever before. Talent recruitment hasn’t abetted, but real wages haven’t risen. There is good news for the consumers, in the sense that discretionary goods and services are now cheaper. Other basics including housing though have risen in pricing. Even though they now matter more than ever before, institutional and individual savings have stagnated. Instead of embracing their true responsibility, institutions have shifted the same to individuals. The presence within the diverse socio- economic groups is largely determining the real outcomes for consumers, savers and workers. This is in many ways, how the social contract is being adapted for the ongoing century.

Source:https://www.mckinsey.com/industries/social-sector/our-insights/the-social-contract-in-the-21st-century

Uploaded Date:24 March 2020

The Fast Times Benchmark has been released. This will help companies assess where they stand in terms of their digital transformation prowess. The business research has been designed in a way, so that the survey lasts for barely twenty minutes. Once the scores are known, recommendations may be received from the in- house management consulting experts. This strategy and execution is known to have worked very well as a sixteen percent positive impact has been noticed. Digital leaders start off by setting the right direction. Then they test and learn. Finally, one needs to adapt to the circumstance in order to be able to execute the work. Diving deeper then involves researching on a digital hyper- speed.

Source:https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/fasttimes/overview

Uploaded Date:11 March 2020

Companies all across sectors and geographies, are now looking to boost their credibility in terms of the trust they enjoy. This is true both with customers as well as their employees, for whom more suitable talent management terms are being explored. One way in doing this is by allowing them discretion over how they want their work to be done. Job crafting is another such technique. This could also lead to facilitation of the whole- person growth. A recent report released post a decades’ worth of data being studied, by marketing research firm Gallup, clearly points to the eroding trust factor. In order to manage this growing stress, companies would do well to recognize excellence, as it boosts employees’ confidence levels as well. A sense of “challenge stress” could be induced. Information within the organization, unless confidential, needs to be shared broadly. There need to be means by which companies can help employees build relationships. Vulnerability must not be dismissed as weakness, but a step in trying to learn the trade better. The return on trust is immense, as such firms have been noted for far better performances.

Sourcehttps://hbr.org/2017/01/the-neuroscience-of-trust?utm_source=facebook&utm_campaign=hbr&utm_medium=social

Uploaded Date:29 January 2020

 

Most professionals have now gotten extremely used to the concept of matrix organizations. Now, there is a need to look beyond, at the so- called helix organizations. It is not exactly a news idea, having been around for decades, especially with business consulting and professional services firms. But now, the idea has gained traction, and popularity. It has been understood that such firms manage to best integrate the functional, channel, product and geographic units at large companies. The optimal balance between flexibility and stability may be arrived at. The two major areas at work in helix structures are the capabilities management and the value- creation management. The former deals with how work gets done, while the latter decides which work attains priority. To make this a reality, a talent market place needs to be curated. The resource planning process must be effective and transparent. Clear lines of accountability need be established. Across the roles, performance management needs to get balanced.

Source:https://www.mckinsey.com/business-functions/organization/our-insights/the-helix-organization

Uploaded Date:06 January 2020

With several companies and entire sectors, exploring the possibility of workforce automation, some blue prints have now emerged, that are universally successful. McKinsey, which is a leader in the management consulting space, has identified four such factors which help in acing the chain. One of them is to set higher targets, as this paves the path for capturing clear value. While aiming for higher rewards, one needs to start off with higher bets as well. Risks need to be managed likewise. The next step is to commit to a cause, and communicate likewise to all key stakeholders. To go about this, the right governance pattern needs to be established, so that the business on its own may drive up the change. The team needs to decide on key questions such as how much of centralization is to be accepted, or who takes up the accountability for the programme. And finally, the right internal capabilities need to be fronted. For this, whatever corporate training sessions are needed, must be executed.

Source:https://www.mckinsey.com/business-functions/operations/our-insights/four-success-factors-for-workforce-automation

Uploaded Date:27 December 2019

A new book published titled Organizations for People, written by Michael O’Malley along with Bill Baker, charts the twenty- one organizations considered as the best companies to work in. These were selected post extensive business research conducted by the writers. They also found out some common traits that such companies do, which set them apart form most of the rest. One such thing is that for them the people come first, so they start off by setting the right talent management systems across the organization, right from the outset. This also enables the employees to find their passions, to further pursue them. They also help bring the people together on a personal level. Special occasions are celebrated, as one way to do so. The list of companies that make it to the select twenty- one, includes the likes of Patagonia, N2 Publishing, Edmunds.com, The Motley Fool and INTUITIVE, besides others. These companies ace it, when it comes to encouraging their employees to own their work. Space is also created so that people can be themselves. Work ethics tend to stick at such places.

Source:https://hbr.org/2019/12/what-the-best-companies-to-work-for-do-differently?utm_medium=email&utm_source=newsletter_weekly&utm_campaign=weeklyhotlist_activesubs&utm_content=signinnudge&referral=00202&deliveryName=DM59604

Uploaded Date:27 December 2019

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