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Learnings from working post-COVID: economy, work-life, leadership

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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How should business leaders manage the return to work?

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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Business implications of post-COVID government deficits

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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