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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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Ian Bremmer: Global hardships post-COVID-19 & need for policy solutions

We have consistently been underplaying just how long it's going to take to get to something that feels more like normal.

Getting industry moving again is important. But manufacturing in the United States is a comparatively small piece of the economy. What you really need are people going out and consuming. The services, where most people in America actually work - retail clerks, driving, don't simply restart. Even when the government opens up, companies are going to be concerned about litigation. Even if the government provides some sort of emergency blanket saying, the companies aren't going to get sued, individuals aren't going to behave the way they used to. What is it going to take to get somebody to get on a plane, to go on a vacation or go on a business trip? The bar is going to be higher. You're going to want it to be essential. Most travel that most people do is much more a question of personal choice than absolutely critical. Especially as companies are getting more used to conducting business by phone and by video.

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