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January2025

Mckunsey

Quarterly

Gettingfitforgrowth:

Theleadershipmindsetsandbehaviorsthatmatter

Growthrequirestherightmixofoutlook,strategy,andcapabilities.Topleadersachievetheirgoalsbyturningfivemindsetsintoaction.

ThisarticleisacollaborativeeffortbyAndyWest,GregKelly,JillZucker,Kate

Siegel,LouisaGreco,MichaelBirshan,RebeccaDoherty,andSaschaLehmann,representingviewsfromMcKinsey’sGrowth,Marketing&Sales,Strategy&

CorporateFinance,andTransformationPractices.

Pictureavenerableindustrialconglomeratesteepedinhistory,wheretraditionhascalcifiedintostagnation,causingthecompany’sstockpricetolanguishfordecades.

Enteradynamicleaderwiththevisiontoshakethingsup—notjusttodreamofgrowth

buttoigniteit.ThisnewCEOdoesn’tjustbringfreshideas.Shebringsanewmindset,

refusingtoacceptsilosandinefficienciesortodefertothestatusquo.Sheleverages

technologyandanalyticstouncovermissedopportunitiesandnewbusinessadjacencies,actingswiftlytodrivebothgrowthandcostreduction.Theresult?Anexplosionofnew

energyacrossthecompanyandastockpricenearlydoublingintwoyears.

ForCEOsandtopexecutiveseverywhere,growingprofitablyistheultimatefitnessgoal.It’salong-termathleticpursuitthatdrivessignificantvalue,withhigh-growthcompaniesexperiencing50percenthigherTSRthantheirpeers.1Profitablegrowersreapeven

greaterrewards.

Thatsaid,achievingandsustaininggrowthistoughwork.PreviousMcKinseyresearch

foundthatonlyoneintencompaniesmaintainedabove-GDPgrowthandremainedintheS&P500over30years.2Growthdemandscourage,dedication,anddiscipline.

1McKinseyValueIntelligencePlatform.

2“Choosingtogrow:Theleader’sblueprint,”McKinsey,July7,2022.

2

Abouttheresearch

OurMcKinseyGrowthLeadersMindsettogrowthstrategiesandinitiatives.These

Survey,conductedfromJune7toJulyquestionscoveredhowexecutiveteamsset

18,2024,queriedmorethan500leaders,andtrackgrowthgoals,allocateresources,

includingCEOs,presidents,otherC-suitemonitorprogress,andcommunicategrowth

executives,seniorvicepresidents,andtokeystakeholders.Thesurveyalsoexplored

executivevicepresidents.Respondentstheleaders’underlyinggrowthmindsets

includedleadersfromallregionsoftheworldandpractices.Manyofthemindsetsremain

frompubliclylistedcompaniesgeneratingconsistentwithpreviousMcKinseyresearch,

$1billionormoreinannualrevenueandbutweexaminethemingreaterdepthhere.1

representingawiderangeofindustries,

includingconsumergoods,energyandOurfindingsrevealadisconnectbetween

materials,financialservices,healthcare,growthambitionsandactualactions.High-

industrial,technologyandmedia,andperformingleaders,however,demonstrate

travelandleisure.Thirty-sixpercentofourmasteryofcertainmindsetsthatcorrelate

respondentsareexecutivesofcompanieswithstrongfinancialperformance.This

weconsidertobe“growthoutperformers.”researchbuildsonpreviousMcKinseyarticles,

Todeterminewhichcompanieswere“Choosingtogrow:Theleader’sblueprint”

outperformers,welookedatmorethan4,000and“Courageousgrowth:Sixstrategiesfor

ofthelargestcompaniesgloballyfrom2017continuousgrowthoutperformance,”and

to2022andidentifiedthosecompaniesprovidesnewinsightsforCEOsandsenior

exceedingtheirsubsectorpeersonrevenueexecutivespursuinggrowth.

growthandprofitability.

1BiljanaCvetanovski,EricHazan,JeskoPerrey,andDennis

Weaskedeachexecutive50questionsaboutSpillecke,“Areyouagrowthleader?Thesevenbeliefsandbehaviorsthatgrowthleadersshare,”McKinsey,September

behaviors,mindsets,andpracticesrelated26,2019.

Ournewsurveyresearchhasfoundthatwhilemanyleadersbelievethey’veadoptedandimplementedproductivemindsetsforgrowth,theseattitudesandambitionsdon’talwaystranslateintothebehaviorsandactionsnecessarytodrivegrowth,asshowninExhibit1(seesidebar“Abouttheresearch”).

Leadersofoutperformingcompaniesunlocksustainedgrowthbyaligningtheirbehaviorswithfivecriticalmindsets:prioritizinggrowth,actingboldly,maintainingacustomer-

centricapproach,attractingandnurturingtalent,andexecutingwithrigor.Growth

outperformers—companiesexceedingtheirsubsectorpeersonrevenuegrowthand

profitability—dothingsdifferently.Theysetthemselvesapartbyclosingthegapbetweenknowinganddoing,turningtheirgrowthaspirationsintoreality.

Thejourneytogrowthisamarathon,notasprint:itoftenrequiresmorethan18monthstoseeresults.Togetthere,leadersneedmorethanjustambitionandbusinesssavvy;theyneedaholisticapproachwithcourageandresilienceatthecore.Gettingfitforgrowth

meansconvertingmindsetsintoactionstodrivetowardtargets.Leadersshouldbeintentionalinmakingdecisionsthatreflectfivecriticalgrowthmindsets.

3

Exhibit1

Mostleadersdonottakethenecessaryactionstodrivegrowth.

Growthactionstakenbyleaders,%ofrespondents

30%

15%

29%

consistently

incorporatecustomer

inputintobusiness

decisions

reporttheyfocus

30%ormoreoftheir

timeonlong-term

growthinitiatives

increaseresourcing

forgrowthinitiativesin

core,adjacent,ornew

businessesduring

periodsofvolatility

Source:McKinseyGrowthLeadersMindsetSurvey,June7–July18,2024(n=500)

8%

expresshigh

con?denceintheir

organizations’talent

planning

10%

feelstronglytheyhave

su代cientdataand

insightstosupport

theirgrowthdecisions

McKinsey&Company

1.Investingrowth,eveninturbulenttimes

Investingingrowthstartswiththinkingabout,thenactingupon,anorganization’slong-termgrowthgoals.Mostleadersbelievetheymakegrowthatoppriority,with72percentofoursurveyrespondentssettingabove-markettargetscomparedwiththeirpeers

inthesameindustry.Theythinktheyunitetheirbusinessesaroundambitioustargets,

confidentlyadjustingandreallocatingresourcesandtalentasneededacrossbothshort-andlong-terminitiatives.

However,oursurveyresultsrevealgapsbetweenexecutives’growthambitionsand

theirabilitytotranslatethemintopracticesandresults.Through-cycleoutperformers—leaderswhooutperformthroughtheupsanddownsofaneconomiccyclebyprioritizinglong-termgrowthovershort-terminitiatives—tendtoproducehigherrevenuegrowth

thantheirpeers.Yet,onaverage,respondentssaythatonly22percentoftheirtimeis

spentonlong-termgrowthinitiatives,withtheremainderoftheirtimededicatedtoshort-andmedium-termprojects(Exhibit2).

Howcanleaderstacticallyinvestinandprioritizegrowth?Tobecomeoutperformers,leadersshouldaligntheirbehaviorstoreflectalong-termvisionandcommitmenttogrowth(seesidebar“FromglasswaretogenAI:Corning’snewgrowthtrajectory”).

Leaders’focusareasshouldincludethefollowing:

?Spendingmoretimeonlong-termgrowthinitiatives.Leadersoftenunderestimate

thetimeandfocusrequiredforgrowthinitiatives.Totrulydrivesustainablesuccess,

theyshouldprioritizelong-termgrowthandresistthetemptationtogetsidetrackedbyshorter-termtasks.

?Allocatingresourcestolong-termgrowthinitiatives.Businessesshouldcontinuallysurveythelandscapeforgrowthopportunitiesandtakecalculatedrisksinshifting

4

FromglasswaretogenAI:Corning’snewgrowthtrajectory

Overthepastfewyears,thestockpriceof

173-year-oldspecialtyglassmakerCorning

hasundergoneseveralswings.TheCOVID-19pandemicinitiallyspurreddemandforfiber-

opticcablesandelectronicdevicesneeded

tohelpaglobalpopulationworkremotely,as

wellasmedicalglasswarecriticalfordiseasetestingandvaccinedelivery.Corningsaw

double-digitgrowth,withitsstockpricenearlytriplinginjust12months.However,asthe

pandemicwaned,customersreducedtheir

inventory,whileconsumersshiftedspendingfromlockdownnecessitiestoexperiencesandservicesinareopenedeconomy.ByOctober2023,Corning’sstockpricehitathree-year

low,withsalesdeclining11percentfromthepreviousyear.

Facingthispivotalmoment,CEOWendell

Weeksredefinedthecompany’sgrowth

trajectory.Herecognizedthatthepandemic

hadtemporarilydepresseddemandbutwas

confidentthatasmartlong-termstrategy

couldleadtoarebound.“Ifyouunderstand

innovationdeeply,youunderstandthatgettingthetimingrightisalmostimpossible.You’ve

gottobeabletoinsteadgotoworkonstuffthatmattersearly,”WeekssaidtoFortune

magazinein2024.1Andthat’sexactlywhat

Corninghasbeendoingforthelastfew

years—quietlydrivinginnovationstofuel

explosivegrowthinareaslikegenerativeAI(GenAI),whileremainingreadytosupportareboundinlonger-termareaslikebroadband

expansion.WheresomeCEOsshyaway

fromspecificcommitmentsandfrequent

accountability,Weekshasralliedinternal

stakeholdersandannouncedhisaspirations

externally.Hepubliclyoutlinedaconcreteplanin2024todrivegrowthacrossbusinessunits,ambitiouslyaimingtodelivermorethan$3

billioninannualizedsalesoverthenextthreeyearsthroughexistingandemergingproductareas.Healsopromisedtoreportquarterly

abouthowthecompanywasfaringagainstitsgoals,ararityamongCEOstoday.

Sinceannouncingthisgrowthplan,Corning

acceleratedproductdevelopmentinitsopticalbusinesstosupportanticipateddemand

fromthegenAIboom,allwhilemanaging

costsandinvestedcapitaltomaintainstrongmargins.Weeks’sambitiousmindsethas

alreadybeguntopayoff.Inits2024third-

quarterearningscall,Corningreportedan8

percentincreaseinrevenueyearoveryear,

deliveringgrowthaboveguidance.Adoption

ofitsnewconnectivityproductsforgenAI

drove55percentoftheyear-over-yeargrowthintheenterpriseportionofCorning’soptical-communicationssegment.Weekscontinues

toprovidepublicupdatesonkeymilestones,demonstratinghiscommitmenttogrowth,

accountability,andmomentum.

1KristinStoller,“Howthe173-year-oldglassmakerbehindEdison’slightbulbandiPhonescreensbecameaSilicon

Valleydarling,”Fortune,December5,2024.

resourcestopromisingnewareas,evenwhenbudgetsaretight.Oursurveyresults

showthatoutperformersare10percentmorelikelythanotherstoengageinmonthlyorquarterlydebateswiththeirteamsaboutwhethertoaccelerate,modify,orhaltgrowthinitiativesandtotrackprogressagainstgoals.

?CommunicatingexternallyandinternallythatgrowthisaNorthStar.Leaders

shouldexplicitlystateambitiousgrowthgoalstotheboardandexecutiveteamto

Web<2025>

<Fitforgrowth>

Exxhhibii<it2of<6>

5

Leadersspendmoretimeonshort-termgrowthinitiativesthanonlong-termones.

Averagedistributionofexecutiveteam’stimespentongrowth

initiatives,byprojecttimeline,%

Longterm

(>5years)

Shorttomediumterm

(≤5years)

7822

Source:McKinseyGrowthLeadersMindsetSurvey,June7–July18,2024(n=500)

McKinsey&Company

generatebuy-inandaccountability.Outperformersare80percentmorelikelythanotherstocommunicatetheirachievementsthroughtownhalls,investorupdates,andperformancereviewstohelptheirteamshitambitiouslong-termtargets,accordingtooursurvey.

2.Beaudaciousongrowth

Actingaudaciouslymeansthinkingcreatively,takingrisks,andmobilizingresources

quicklyacrossaportfolioofgrowthbetsandpathways.Thisincludesawillingnessto

exploreunconventionalavenueswithpotentialforgrowth(seesidebar“FromBrazil

toSaudiArabia:Expandingcancercareacrosscontinents”).Eighty-threepercentof

outperformersinoursurveyindicatethattheyencouragetheirteamstotestnewideas,failquicklyandaffordably,andlearnfromtheresults.Furthermore,79percentofall

surveyrespondentssaytheyprioritizespeedoverperfectionwhenitcomestotheirgrowth-relatedpractices(Exhibit3).

However,whenitcomestocommittingresourcestoboldactions,therealitylooks

different.Duringperiodsofvolatility,30percentofrespondentssaytheychooseto

increaseresourcingforgrowthinitiatives—whetherincore,adjacent,ornewmarkets—indicatingareluctancetocommittocourageousgrowthstrategieswhenitmatters

most.Moreover,47percentofrespondentstendtofocusontactics,suchaspricingandautomation,ratherthanmakingboldmoves,suchasinvestingininnovationorfocusingonanew,unfamiliarmarketwithhighpotential.

Leadersofoutperformingcompaniessetthemselvesapartinthefollowingways:

?Experimentingwithboldriskstosupportinnovativeideas.Amazonfounderand

executiveJeffBezoshassaidthatexperimentalfailurecanbebeneficial.3

3“ThenewJeffBezosbook:ReadhisownwordsonhowAmazonembracedfailuretodriveinnovationandsuccess,”BusinessInsider,November22,2020.

6

FromBraziltoSaudiArabia:Expandingcancercareacrosscontinents

Dr.BrunoFerrariisnostrangertoboldmoves.TheCEOofOncoclinicas,whichoperates

leading-classoutpatientcancercarecenters

inBrazil,foundedthecompanyin2010with

asingleclinicinBeloHorizonte,Brazil,and

expandedtomorethan140clinicsinlessthan

adecade.Inacountrywheremosthealthcare

iscentralized,FerraribuilttheOncoclinicas

networkbybuildingsmallerclinicsoutsideofthemajorhospitalsystemstomeetpatientswhere

theywereandwheretheymostneededcare.

KeentoexpandtheimpactofOncoclinicas,

Ferrariwentfarafield.Afterlearningthat

therewasnospecializedoncologyprovidertoservethe37millionpeoplethere,hesensedanopportunity.“WesawthattherewerekeysimilaritiesbetweenBrazilandSaudiaArabiainthechallengesthatpeoplehaveingetting

cancercare,”hetoldus.“WedecidedtomakeamoveandexpandtotheMiddleEast.Nowwecanhelpthepeopletherebyprovidingmore

accessibletreatmentwithreducedwaittimes.”

InAugust2024,Oncoclinicasannounced

apartnershipwithalocalmultisector

conglomerate,Al-Faisaliah,toopenitsfirst

cancercareclinicinRiyadh,withaneyetowardfutureexpansionacrossSaudiArabia.The

abilitytohavebroadimpactinanareawith

limitedcancercarefacilities,coupledwith

stronggovernmentsupportforthehealthcaresector,madethisunconventionalstrategy

appealingtoFerrari.Thejointventureis

expectedtoopenfivenewclinics,expandto

othercountriesintheregion,andgenerate

$550millioninannualrevenue(50percentof

Oncoclinicas’currentrevenue)withinfiveyears.

Exhibit3

Leaderssaytheyprioritizemakingboldmovesquicklybutfailtocommittheresourcesneededtotakeaction.

Growthactionstakenbyleaders

Shareofrespondentsagreeingor

stronglyagreeingthattheyprioritizespeedoverperfection,%(n=480)

79

Actionstakenduringperiods

ofvolatility,%ofrespondents(n=500)

Increase

resources

forgrowth

initiativesincore

businessareas

30

Prioritize

revenue/cost

optimization

47

Source:McKinseyGrowthLeadersMindsetSurvey,June7–July18,2024(n=500)

McKinsey&Company

7

(Hedifferentiatesthisfromoperationalfailure,whereexecutionispoor.)Leaderswhoarewillingtotrynewideas,evenwhentheymaynotpanout,canlearn,innovate,and

growfromtheexperience.Accordingtoa2023McKinseydigitalstrategysurvey,top

performerswere63percentmorelikelythanpeerswhowerenotoutperformersto

allocateresourcestoinnovateinthedevelopmentofanewproductortoenteranew

market,and44percentmorelikelytodosoin“breakout”opportunitiesoutsideoftheircurrentindustryorecosystems.

?Favoringspeedyactionoverperfection.Outperformerscreateaclearpathtoactionthatallowsteamstoexecuteoninitiativesproactivelyorreactrapidlytounpredictableshiftsinthemarket.Sixty-fourpercentofoutperformersactwithspeedwhenfacedwithmarketshocksorinternalchanges,allowingthemtocaptureafirst-moveradvantage.

3.Listentoyourcustomers—forreal

Improvingcustomerexperiencecreatesstackedwinsforhigherreturns,fastergrowth,

andlowercosts.AspreviouslydescribedinMcKinsey’sworkonexperience-ledgrowth,

companiesthatputcustomerexperienceatthecenterachievetwicetherevenuegrowthofthosethatfallbehindinthisarea.4Sixty-threepercentofsurveyrespondentscitecustomerfeedbackasatopsourceforgeneratinggrowthideas(secondonlytointernalR&D,at64

percent).Yetdespitesignificantevidenceshowingthatcustomer-centricityisimportant,only15percentofrespondentssaythattheyconsistentlyincorporatecustomerinputintotheirdecisions,andjust23percentsaytheyregularlyengagewithcustomerstoensure

theirofferingsdeliverrealvalue(Exhibit4).Thisrevealsadisconnectbetweentheintenttoprioritizecustomerneedsandtherealityofexecutingonthatcommitment.

4VictoriaBough,OliverEhrlich,HaraldFanderl,andRobertSchiff,“Experience-ledgrowth:Anewwaytocreatevalue,”McKinsey,March23,2023.

Exhibit4

Fewleaderstakethenecessaryactionstoputcustomersatthecenter.

Growthactionstakenbyleaders,%ofrespondentsanswering“stronglyagree”

Consistently

incorporatecustomer

inputintobusiness

decisions

15

Regularlyengage

withcustomers

23

Usetechnology

topredict

customerneeds

14

Source:McKinseyGrowthLeadersMindsetSurvey,June7–July18,2024(n=500)

McKinsey&Company

8

Leadersofoutperformingcompaniesputthecustomeratthecenterbyachievingthefollowing:

?Figuringoutwhatcustomerswantnext.Growthoutperformersusepredictiveanalyticstonotonlylearnbutactuallypredictneeds.Theylookattheedgesoftheirown

industryandbeyondtoidentifybroadershifts.Thisallowsthemtotrulyunderstandtheircustomerscoredesires,thencreateproductsandadjustservicesaccordingly.

Todothis,leadersleverageAIandusetechnologybeyondsurvey-basedsystemsto

identifycustomerexperienceissuesandopportunitiesinrealtime.Forty-fivepercentofoutperformersinoursurveyindicatethattheyusetechnologytobetterunderstandcustomerneeds.

?DeployinggenAItorespondtocustomers.Todeliveronbrandpromiseand

expectations,outperformerspersonalizeresponsestoinquiriesandquicklyrespondtocustomersintheirmomentsofneed.Forexample,autonomousgenAIagentsaugmenthumancustomerinteractionstoimproveservicelevels,customizeinteractions,and

automatecomplextasks.

?Ensuringcustomerinsightsareconsistentlytranslatedintonewgrowthinitiatives.Outperformersensurethatoncecustomerfeedbackissystemicallycapturedand

analyzedatscale,itisturnedintoinnovationsinproducts,services,orstrategiesthatreflectthatfeedbackandprovideasuperiorcustomerexperience(seesidebar“ThebeautyaficionadosatthecenterofSephorassuccess”).

ThebeautyaficionadosatthecenterofSephora’ssuccess

Despiteintensecompetitionfromboth

establishedplayersandemergingbrands,

globalbeautyretailerSephorahascontinued

toexperiencesignificantorganicgrowth

acrossbusinessunits(LVMHsselectiveretailbusinesswhichhousesthebrandgrew25

percentin2023).AccordingtoglobalpresidentandCEOGuillaumeMotte,themainingredienttoSephorasfast-growthsuccesshasbeena

relentlessfocusoncustomers.Sephoraskeyinitiativesin2024includedenhancingthein-

storeexperiencewithinteractivedisplaysandpersonalizedconsultations,conveningmore

“SEPHORiA”experiences(aFashionWeeklike

customerevent),andbuildingaskinanalysisservicebasedonfeedbackfromcustomers.

Additionally,Sephorahascultivatedathriving

communityofover40million“BeautyInsiders.”Thisloyaltyprogramrewardsmemberswith

specialeventssuchastheRougeCelebration,whichleveragesSephorasrelationshipwith

brandstoprovidespecialgiveaways,discounts,anddemonstrationstotopcustomers.

Sephorasfocusoncustomerengagementhaspaidoff:BeautyInsidermembersaccountforamajorityofSephorasannualtransactions.

9

4.Rallyadreamteamforgrowth

Talentisessentialforgrowth.Engagedemployeesfuelinnovation,productivity,successoffunctionalcapabilities,andcustomerloyalty.Byfocusingontalent,companiescan

achieveacompetitiveadvantageandcultivateanorganizationwithagrowthmindset.

Despitetheimportantroletalentplaysinanorganization’sabilitytogrow,69percent

ofrespondentsbelievethereisasignificanthumancapitalorcapabilitygapwithintheir

organizations(Exhibit5).Moreover,fewerthan8percentofrespondentsexpresshigh

confidenceintheirend-to-endtalentstrategy(thatis,recruiting,integrating,upskilling)todelivertheworkforceneededtodrivefuturegrowth,castingdoubtontheircompanies’abilitytofilltalentgapsorganically.Theseshortcomingshighlightacriticaldisconnect

betweenrecognizingtheimportanceoftalentandtakingcrediblestepstosecureit.

Leadersofgrowthoutperformerstakeadifferentapproachtotalentplanning(seesidebar“Bankingontechtalentforgrowth”).Theycentertheirorganizations’developmenton

growthandnurtureteamrelationshipstofosterculturalhealth,whichinturnunlocksgrowth.Theseleadersfocusontalenttofuelgrowthbymakingthefollowingmoves:

?Elevatingandredeployingtopperformers.Manycompaniesrewardpeoplebasedonthesizeofthebusinessunittheyoverseeorhowmanypeopletheymanage.Thatmeanstopperformersoftenenduprunningmorematurepartsofanorganization,ratherthangrowthareas.Outperformers,however,investinandofferincentives

tohigh-performingtalentbyputtingoutstandingemployeesinmorevisiblerolestofurthertheirdevelopmentandcontinuetosparkgrowth.Thirty-sixpercentofoutperformerssaytheyhaveanagileorganizationaltalentmodelthatallowseasymovementofthebestpeoplethroughtheircompanies.

Exhibit5

Leadersrecognizetheimportanceoftalent,andmostofthemprioritize?llingthetalentgapin-house.

Sentimentsaboutgapshinderinggrowth

Shareofrespondentsacknowledgingacriticalgaphinderinggrowthattheirorganizations,%(n=500)

72

Sourceofgaphinderinggrowth,1%ofrespondents(n=355)

Technology18

Talent69

Prioritizedapproachto?llingtalentgap,%ofrespondents(n=285)

PartnerBuy

Build

13

24

63

1Respondentscouldselectmorethanoneresponse.

Source:McKinseyGrowthLeadersMindsetSurvey,June7–July18,2024(n=500)

McKinsey&Company

10

Bankingontechtalentforgrowth

DevelopmentBankofSingapore(DBS),one

ofSoutheastAsia’slargestbanks,isfocusing

onnurturingtoptalent.TheDBSexecutive

teamcommittedtohiringnewtalentand

upskillingandreskillingtensofthousandsof

staffmembers,withafocusonfosteringtech

skills.SameerGupta,DBS’schiefanalytics

officer,recentlysharedwithMcKinseythebank’sstrategicapproach,whichfocusesonbuilding

anenterprise-leveldatasciencetalentpipeline

throughatargetedcurriculumfordatascientistsanddataanalysts.Underhisleadership,DBShascreatedacomprehensivetrainingcurriculumonAIanddataforitsemployeesacrossskilllevels

andfosteredanenvironmentthatencourageslearningforitsemployeesacrossoperations.

Byinvestinginitstechnologytalent(thebankhasroughlytwiceasmanytechnologistsas

bankers),DBShassuccessfullycaptured

valuefromitsearlyadoptionofAIandmachine

learning.DBSemployeeshaveusedgenAI

togeneratehundredsofideas,including

hyperpersonalizedfinancialguidancefor

customers,deeperinsightstoenhancecustomerengagement,andcustomizedcareerpathways

tofosterlong-termemployeegrowth.In2023alone,thebank’sAIandmachinelearningusecasesgeneratedapproximately$270millionofincrementaleconomicvalue,eitherthroughrevenuegrowthorexpensessaved.

?Rewardingfailurewhendonefastandcheaply.Outperformersencouragetaking

calculatedrisksbycreatingacultureofpsychologicalsafetythatsupportsiterative

developmentandknowledgesharing,withtheappropriateguardrailstoderisk

initiatives.Leaderswhoactonthismindsetleadwithoptimism,notjustpragmatism,tocommunicateapositiveoutlookclearlyandencourageboldthinking.

?Pursuingunconventionalsourcesfortalent.High-growthleadersexplorehiringfromadjacentordifferentindustriestobringafreshlevelofthinkingthatpushesgrowthandspursnewandsometimesevenuncomfortableconversations.Theyensurethatteamshavetherightcombinationofbothbig-picturevisionariesanddetail-orientedthinkers.Outperformersare50percentmorelikelythanpeerstoproactivelyclosetalent

gapsthroughexternalhiring.TheydosonotonlyintheC-suitebutateachleveloftheorganization.

5.Deriskgrowthbyexecutingwithexcellence

Executivesneedarobustoperatingrhythm—onethatclearlymanagesgrowthactivities,communicatesgrowthstrategies,andensuresaccountability—tosucceedagainsttheirgrowthgoals(seesidebar“Mondaymorningjolts:Howoneexecutivesparkedgrowth

throughaccountability”).

Deriskinggrowthalsorequiresexecutivestoharnesstherighttechnologyfromtheearlyplanningstagesallthewaythroughtoexecution.ThepotentialofAIandgenAIis,bynow,widelyviewedbyexecutivesasanimportantgrowthenabler.However,only10percentofexecutivesinoursurveybelievetheyhavesufficientdataandinsightstobacktheirgrowth

11

Mondaymorningjolts:Howoneexecutivesparkedgrowththroughaccountability

WhenanewexecutivewastaskedwithgrowingabusinessunitataniconicNorthAmerican

servicescompany,shestartedbyinstitutingweeklycheck-ins.Butthesewerenoordinarycheck-inswithareadoutandafewquestions.Instead,shestartedtheweekwithearly

Mondaymorningstand-upmeetings,whichincludedhead-to-headmatchupsbetweenteams,agrowthleaderboard,andfrequentuncomfortablechallengestothoselaggingbehindontheirtarget

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