HR Reset: Post-COVID Lessons for Growth

Kevin Sneader, global managing partner for McKinsey & Company, provides perspective on how corporate business leaders think in response to the coronavirus crisis:

What is the role of HR going into the next normal?

Well, this is a time of reset and one big reset that I see is around the role of HR. I think it's time for HR to shift from being a transactional partner around compensation, organization charts, and benefits to being a truly integral architect of change. Now, that's been happening for years in the best performing HR departments. It Involves rethinking talent requirements, capturing what was learned about individuals and organizations during the course of this pandemic, and even learning and growing in a world in which remote working has to be combined with working back in the office or the manufacturing facility. A world where incentives needs to be rethought. And where employee experiences need to reflect a very different reality. So, there's a big reset going on and I think that reset needs to embrace HR both in terms of what HR can do, the role of the CHR role, and indeed the way in which together HR becomes a true architect for change, just as it has done for many years, perhaps unnoticed, and not give enough credit by those who really should know better.

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VP nominee Kamala Harris: a balanced Democratic ticket

Jon Lieber, Managing Director of the United States for the Eurasia Group, shares his insights on the biggest development in the US election this week:

Joe Biden has chosen his running mate, Senator Kamala Harris of California. She was the safe pick, she was the betting market favorite, she brings diversity to the ticket and a historic component, as the first woman of color to ever run on a major party ticket in the United States. Most importantly, what she does is she doesn't open up any obvious lines of attack for President Donald Trump and she doesn't bring the risk of creating a competing power center on policy inside the White House, the way a progressive candidate might have.

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Belarus regime faces strikes; EU restrictive measures likely

Carl Bildt, former Prime Minister and Foreign Minister of Sweden, shares his perspective on Europe In 60 Seconds (from Tabiano Castello in northern Italy):

What is the situation in Belarus with the opposition leader fleeing to Lithuania?

The situation is fluid and I think that while the regime hoped that significant repression would bring it under control, more than 6,000 arrested, the wave of strikes that we now see starting makes it very, very fluid situation. So, all bets are off. But they will do whatever to preserve their powers.

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Lebanon won't get the billions they need without structural reform

Ian Bremmer shares his perspective on global politics on this week's World In (More Than) 60 Seconds:

The Lebanese government resigns. What's next for Lebanon?

Well, not a lot of money. They need billions. I mean, $3 billion minimum just to rebuild the damage from the explosion, plus the billions because their economy is in freefall, and their banking system sucks, and their sanitation system doesn't work, and they're massively corrupt. And the humanitarian UN conference has thrown a couple hundred million at them, but nowhere near the billions they need. That requires major reform, which is being demanded by the people, and the IMF, and President Macron, who's sort of taking the lead in trying to build some international support for Lebanon. But, you know, a lot of people have problems right now. A lot of people need help. And if the Lebanese government that finally comes together is not more effective at structural reform, which is super challenging in a place that's massively corrupt, well, they're not going to get a lot of money. So this is going to be borne on the backs of Lebanese people. The one thing I will say is it's hard to imagine Hezbollah getting stronger in this environment. They are seen as part of the problem. And maybe this helps shake loose both them and the Iranian influence, which does not help the Lebanese people at all over that country.

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TikTok ban: warning from US to Chinese tech firms

Jon Lieber, Managing Director for the United States at the Eurasia Group, shares his perspective on US politics.

Where are US-China relations in this battle over TikTok and what is happening?

Well, this may seem like a minor deal. It's a video sharing app that the president has given 45 days to sell to a US entity or get banned in the United States. But along with WeChat, these are two of China's most successful technology companies that the US has now banned from entry into the United States and potentially banned from being used on operating systems that rely on US software inside China. So, this is a huge escalation in the geotech war between the United States and China. China for a long time has not allowed Google and Facebook and other American applications to be fully operative inside their borders. And now the US is stepping up against Chinese technology companies. The reason is that there's concerns among the US government about these tech, these apps data security practices. Members of the military, high ranking government officials aren't allowed to have these on their phones because there's concern about what China does with the data that they can harvest from those phones. This is a real warning sign to other Chinese technology companies that they may not be welcome inside the American market unless they can prove in some way, they are totally independent from the Chinese government and the Chinese military. Expect a lot of escalation in this area over the coming months and years.

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Europe offers support to Beirut; all eyes on Lukashenko's election

Carl Bildt, former Prime Minister and Foreign Minister of Sweden, with the view from Europe:

How will Europe help with the catastrophe in Beirut?

You will see Europe mobilizing quite a lot of help. President Macron of France rushed there. That's natural due to the historical links between France and Lebanon, but also the European Commission and other countries are now mobilizing quite substantially. We are nearby. We have an interest in helping them.

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Kevin Sneader, Global Managing Partner at McKinsey, shares his perspective on corporate business leadership on Business In 60 Seconds:

How can technology be a force for good?

Well, we've been living through a pandemic where in many ways, technology has come to the rescue. Imagine how society, business, and communities would have fared if technology had not been up to the challenge that we've all been facing. In health, artificial intelligence is accelerating the development of vaccines. Analytics are providing us new ways to set about all tasks that confront us in this next normal. Education, while remote schooling is far from perfect, but it has helped millions of children get an education when otherwise they would have not been able to gain one. And even in inclusion, technology has enabled flexibility for those desperately in need of it, when they cannot go to the office, they cannot go to the manufacturing facility. And in the environments case, emissions have been reduced by applying technology to bring people together, where airlines no longer travel. So, the challenge now, how to bridge the divide between those who have access to technology and those who do not. That is really the challenge and one to which I will return, because the answer to the question of can technology be a force for good has been resoundingly answered. The question now is how to ensure everyone has access to it.

Kevin Sneader, Global Managing Partner at McKinsey & Company, stresses the value of leading with empathy:

How should leaders lead in this next normal?

When I was chatting with a CEO recently, he said to me that the biggest characteristic he exercised in leading his corporation wasn't financial acumen, wasn't an insight into understanding organizational dynamics, it was actually showing a little love. Showing a little love, that's an odd thing for a CEO to say as the number one attribute. But we're in the midst of a pandemic and that's what's required. It means empathy over facts. It means elevating the to-be list to be at the same level of importance as the to-do list. In other words, which CEO wants to show up today? To be caring, to be determined, to be confident. Think about that.

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Kevin Sneader, Global Managing Partner at McKinsey, shares his perspective on corporate business leadership on Business In 60 Seconds:

What do we know now that we did not know four months ago when the coronavirus struck with vengeance?

I think there's a lot. First, we've learned about our economy. We know that we've now taken the elevator down and we're taking the stairs back up. We're seeing a return, as I observe what's happening across the world, but from a very low base. And the letter of choice is not an L, a V or a U, but I think it's a big question mark.

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Kevin Sneader, global managing partner for McKinsey & Company, provides perspective on how corporate business leaders think in response to the coronavirus crisis:

As workplaces reopen, how should leaders manage the return to work?

Well, let me start by saying that first, return is not a date, it's a muscle. We've seen cities with the tightest of rules and disciplines experience a second or third wave of the coronavirus. Indeed, Melbourne and Hong Kong bring this life today, for all of us. Therefore, it's not a question of announcing a date for return and saying everything is done. Instead, it's about a process, one that will have a series of ups and downs. In fact, two steps forward, one step or more back, maybe the story of our times. We need to be able to live with disruption as usual and respond with a tailored, relevant set of actions.

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Kevin Sneader, global managing partner for McKinsey & Company, provides perspective on how corporate business leaders think in response to the global coronavirus crisis:

What are the implications for business of the deficits resulting from governments stepping in to save the economies around the world in the wake of the COVID-19 crisis?

Over the last three months, the ramp up of relief and stimulus spending has occurred just as tax revenues have stopped. Indeed, government deficits could reach around $10 trillion this year and as much as $30 trillion by 2023. There's a real risk of a debt crisis that could compound the already existing economic crisis.

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Kevin Sneader, global managing partner for McKinsey & Company, explains why businesses should continue to invest in the environment.

How should businesses think about the environment in a post-pandemic world?

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Kevin Sneader, global managing partner for McKinsey & Company, provides perspective on how corporate business leaders should reassess their approach to ESG criteria.

What's going to happen to Environmental, Social, and Governance (ESG)?

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What does it take to reimagine a business and bring it back successfully in this next normal?

Well, I think it's important to understand this is not just about returning a business to what it was. It's about reimagining what it should be given the changes that this current pandemic has created. And I think there are four essential steps.

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