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☆ 4 characteristics of companies that will survive a downturn, according to McKinsey's North America managing partner
▼ + stars: | 2022-11-09 | by ( Asutosh Padhi | ) www.businessinsider.com time to read: +6 min

The evidence that resilient companies simply do better (in good times and bad) is compelling. Specifically, research on more than 1,000 companies found that the most resilient companies performed better than their less resilient peers across the entire life cycle of the major economic shocks of the past two decades. Focus on talentBecause resilient companies are better positioned to start with, they are well-placed to capture talent who may now be searching for new homes. All companies need to look at their employee value proposition. Asutosh Padhi is a senior partner and the North America managing partner for McKinsey & Company, a global management consulting firm.

☆ The 30 companies information technology students around the world most want to work for
▼ + stars: | 2022-11-02 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

Universum published its annual list of the most attractive employers for IT students. That's part of the employer branding expert's World's Most Attractive Employers report. Information technology students want to work for tech companies, such as Google and Samsung, but also hope to end up working at places outside tech. Universum recently released its annual rankings of ideal employers that different students want to work for, which is part of its World's Most Attractive Employers report. From KPMG to Google, below are the 30 companies IT students aspire to work for according to Universum's ranking of the most attractive employers.

☆ Self-driving cars were supposed to take over the road. What happened?
▼ + stars: | 2022-11-01 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +8 min

Caitlin O'Hara/Bloomberg/Getty ImagesGeneral Motors bought a self-driving company in 2016. Big talk, smaller resultsUrmson, while leading Google’s self-driving car project before founding Aurora, talked of his preteen son never needing to get a driver’s license. A self-driving car, without a steering wheel or pedals, would have to be able to drive itself in literally every situation possible. “It’s really, really hard,” Waymo’s then-CEO John Krafcik said in 2018 of self-driving technology. Companies developing lidar, widely seen as a key component for self-driving vehicles, as well as self-driving companies, have seen their stocks plummet recently.

Oct 27 (Reuters) - Leading consulting firm McKinsey & Co has agreed to settle claims by hundreds of U.S. local governments and school districts around the country that it fueled an epidemic of opioid addiction through its work for OxyContin maker Purdue Pharma LP and other drug companies. The deal was disclosed in a court filing Wednesday evening in San Francisco federal court. Its terms were not made public, and McKinsey and a lawyer for the settling plaintiffs did not immediately respond to requests for comment. McKinsey previously agreed to pay more than $600 million to settle opioid claims brought by all U.S. states and territories, and had argued that those settlements should shield it from local governments' and school districts' lawsuits. Purdue is in bankruptcy and is seeking to resolve opioid claims against it through a proposed $6 billion settlement funded by members of its founding Sackler family.

☆ Why your healthcare is about to get a lot more expensive
▼ + stars: | 2022-10-27 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +7 min

Supply-chain and labor shortages, along with pent-up demand, are increasing costs for healthcare. But they might be in for more bad news as healthcare costs rise. Premiums could rise even more in 2024 as higher healthcare costs settle in and get passed down to consumers. You can thank people flocking back to the doctor, more expensive equipment, and surging labor costs for your higher future bill. Labor costs are rising across the boardJob openings in healthcare are still elevated, and well above pre-pandemic levels, according to Fitch.

☆ US workers are stressed, anxious, and disengaged. Here are 3 simple strategies managers can use to help them.
▼ + stars: | 2022-10-27 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +5 min

Managers can use a number of research-backed interventions to foster employee happiness. Note to managers: Happiness drives business results. A study published in early 2022 found that employees with high measures of self-reported happiness upon starting their jobs performed better than those with lower measures of happiness. Cultivate happinessWhen it comes to boosting an employee's emotional well-being, there is only so much a boss can do. Lester and his co-researchers have recommended managers lead team exercises geared toward improving employee well-being.

☆ Black Friday vs. Cyber Monday Deals: Which are better?
▼ + stars: | 2022-10-26 | by ( Mili Godio | Mili Godio Is An Associate Reporter For Select On Nbc News. | ) www.nbcnews.com time to read: +10 min

Black Friday deals started in October this year, while Cyber Monday sales can extend a whole week with additional sales online. Beyond that, retailers generally launch their online Black Friday deals months before Thanksgiving, giving online shoppers a jump-start. “Cyber Monday will offer TV deals as well, but many retailers stick to the tradition of Black Friday TV doorbusters and really pump out those deals on Black Friday,” McGrath said. Cyber Monday typically outperforms Black Friday in terms of sales: Black Friday raked in $8.9 billion in 2021, while Cyber Monday hit $10.7 billion, according to data from Adobe Analytics. While Cyber Monday claims the top spot when it comes to e-commerce spending, Black Friday consistently narrows that gap as the number of online Black Friday sales increases exponentially.

☆ Insurance startup Evy promises better product protection and just brought in $6.4 million from Sequoia. Check out its 10-slide seed pitch deck.
▼ + stars: | 2022-10-26 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Paris-based insurance tech startup Evy has raised $6.4 million in seed funding from Sequoia. Founded in 2022, Evy wants to grow the product protection market in Europe. Check out the company's 10-slide pitch deck below:Evy, a Paris-based insurance tech startup, has raised $6.4 million in seed funding from US investor Sequoia. The startup specializes in product protection insurance but doesn't work directly with consumers. Unlike more consumer-facing insurance tech companies, which have struggled in 2022, Evy said its B2B2C model was preferable, since there are no customer acquisition costs and marketing spend is lower.

☆ Gender equity at work is stalling after 'mass exodus' of women during pandemic, new research finds
▼ + stars: | 2022-10-26 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +4 min

Gender equity progress in the workforce has slowed down over the pandemic, a KPMG report found. Progress slowsBefore the pandemic, many businesses were making strides toward gender equity, but their progress has significantly slowed down since, the report found. Among most of the surveyed companies, women made up just 17% of leadership positions and 25% of total employees as of 2022. Women still make up just 17% of leadership positions, according to the latest KPMG DEI Progress survey. "Only 12 percent have reported making significant changes in their companies' DEI profiles," it found.

☆ Meet the 'stone-cold-brilliant' Apple exec heading up Apple TV+, Sports, gaming and more, who insiders think could succeed Eddy Cue
▼ + stars: | 2022-10-26 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +10 min

The former Time Warner Cable exec is driving Apple's subscription businesses including TV+, Sports, and Apple One. But inside and outside the tech giant, people are eyeing one cable TV alum who is being positioned for bigger things under Eddy Cue, the company's longtime Services SVP. As VP, Services, Stern is responsible for running strategy and operations for multiple growth businesses inside Apple. Here's how Stern ascended from cable TV to the top of the tech giant, and what his moves mean for the future of Apple Services. He appeared on stage in 2019 as the frontman for the Apple TV app, in a pair of dark-wash jeans and an untucked gray button-down.

☆ The ridiculous rise of the chief purpose officer — corporate America's half-baked attempt to fix the employee burnout crisis
▼ + stars: | 2022-10-25 | by ( Tracy Moore | ) www.businessinsider.com time to read: +11 min

Every company on Great Place to Work's ranked list of best employers has a chief purpose officer or purpose among the company's missions and goals. Its chief purpose officer, Kwasi Mitchell, who stepped into the role in 2020, told me that establishing purpose was a powerful talent-retention tool. The same is true for chief purpose officers. And a chief purpose officer can be used as a crutch, a way for a business to say, "Of course, we care," when employees raise issues with the culture. Instead of fixing the burnout problem, these executives can allow management to turn a blind eye and assume all is well, letting workplace rot set in even deeper.

☆ These 15 people are shaping the office of the future, designing meeting pods, hologram calls, and buildings that actually make workers healthier
▼ + stars: | 2022-10-24 | by ( Robert Davis | ) www.businessinsider.com time to read: +27 min

These 15 power players are just a handful of the people designing workplaces to balance productivity, interaction, and employee well-being through indoor-air-quality monitoring systems, building amenities, holographic meeting spaces, and more. AftershipCities like Austin, Texas; Nashville, Tennessee; and Raleigh, North Carolina, began offering business-relocation incentives during the pandemic to boost their workforces and help increase occupancy in office buildings. Room's office suite includes a phone booth, a meeting room, an open meeting room, and a focus room. Room also makes a soundproof meeting room that fits two people, a more open meeting booth, and a focus room designed for quiet concentration. "The future of office work needs to be guided by a new, genuine form of flexibility in which the work, not the workers themselves, become even more malleable," Petersen writes.

☆ Most of Gen Z doesn't think they'll ever be able to buy a house — so they're living with their parents and working multiple jobs
▼ + stars: | 2022-10-24 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

A new McKinsey survey finds that Gen Zers don't feel secure in their jobs, and can't buy homes. The youngest generation in the workforce is more likely to hold multiple jobs or be gig workers. In the wake of the pandemic, Gen Z disproportionately bore the brunt of job losses. And Gen Zers, whose oldest members are around 25, may have seen key life milestones particularly disrupted by the pandemic. A June survey from Credit Karma found that 29% of Gen Z was living at home, either with parents or other relatives.

☆ Meet the under-the-radar Apple executive who heads Apple TV+, gaming, and sports, and drives more than 860 million paid subscriptions
▼ + stars: | 2022-10-21 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +10 min

The former Time Warner Cable exec is driving Apple's subscription businesses including TV+, Sports, and Apple One. As VP, Services, Stern is responsible for running strategy and operations for multiple growth businesses inside Apple. Here's how Stern ascended from cable TV to the top of the tech giant, and what his moves mean for the future of Apple Services. A third former high-placed Time Warner Cable alum also recalled this exchange. He appeared on stage in 2019 as the frontman for the Apple TV app, in a pair of dark-wash jeans and an untucked gray button-down.

☆ Female executives are leaving their companies at record rates. Here's what employers can do to limit the losses.
▼ + stars: | 2022-10-21 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +5 min

A McKinsey report found that women leaders were leaving their companies in unprecedented numbers. In particular, companies need to prioritize flexible work, invest in career development, and foster diversity, equity, and inclusion, they said. Lareina Yee, McKinsey’s senior partner"Employers need to level the playing field for all workers," Thomas said. Employers also need to invest in professional-development programs for younger women — especially women of color. He said too many employers relied on their women leaders to foster inclusion and support employee well-being without acknowledgement.

☆ Princeton University student who vanished days ago has been found dead, officials say
▼ + stars: | 2022-10-20 | by ( Marlene Lenthang | Minyvonne Burke | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +4 min

A Princeton University student who vanished days ago has been found dead, authorities said Thursday. Since Sunday, the Princeton University DPS had been leading the investigation into her disappearance along with the Mercer County Prosecutor’s Office. On Wednesday and Thursday, Princeton University students were told to expect an increased law enforcement presence on and around campus as the desperate search continued with the use of a helicopter, drones and watercraft. They said they worked with her at Minds Matter Cleveland, a nonprofit that offers academic and mentoring resources for high-performing, low-income high school students. Slife added the sociology major “interned for Bank of America and worked for McKinsey.”Ewunetie's high school, Villa Angela-St. Joseph High School in Cleveland, said she was a 2020 honors graduate.

☆ Analysis: Renewables shift lays bare Africa's energy dilemma
▼ + stars: | 2022-10-19 | by ( Bate Felix | ) www.reuters.com time to read: +7 min

Besides the 678-km West Africa gas pipeline completed in 2008, linking Nigeria, Benin, Togo and Ghana, few regional oil and gas projects exist to take products where they are needed. U.S. climate envoy John Kerry has cautioned against long-term oil and gas infrastructure investment in Africa, urging countries to turn to renewables instead. "Africa's track record for gas projects in this regard is not encouraging," the IEA said, citing delays in TotalEnergies' Mozambique project and in the Senegal-Mauritania gas project. "Funding requirements for the oil and gas industry in Africa far exceeds the capacity of any one individual country in Africa. Previous plans for major regional projects such as large-scale refineries have been thwarted by rivalries, ending in countries constructing small refineries that eventually failed, the expert added.

☆ Bank of Ireland offers menopause leave
▼ + stars: | 2022-10-19 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN Business —Bank of Ireland Group is offering paid leave for women employees going through menopause, joining a growing list of companies trying to prevent women from exiting the workforce. Employees will be able to take up to 10 days off a year if they experience physical or psychological symptoms related to menopause, the bank announced Wednesday. The bank, which employs around 9,800 people worldwide, will also train managers on how to support colleagues going through menopause. The announcement was made during Ireland’s first ever Menopause Awareness Week and comes as a growing number of companies in Britain and Europe, including Danske Bank and Deloitte, introduce policies targeting menopause. A separate survey by Standard Chartered Bank and Britain’s Financial Services Skills Commission found that a quarter of women are more likely to retire early because of menopause.

Mental health as a spectrumChew said he was inspired to try to popularize mental healthcare after battling a panic attack when he was 16 years old. Justin Kim, CEO and co-founder of Ami, another digital mental healthcare start-up based in Singapore and Jakarta, agreed that there’s a need to scale mental health offerings. Alistair Carmichael, an associate partner at McKinsey & Company, said employers will benefit from better mental health in their workforce. “Mental health has long had a stigma across Asia, whereby traditionally we’ve seen it as a clinical issue, a crisis,” he said. “We see mental health just as important as physical health.

Last year, industry insiders predicted that 2022 would be the year of social shopping in the US. As the year closes, here's the state of play when it comes to social shopping. From TikTok to YouTube, companies introduced features to encourage users to shop in their apps — including native checkout — and shoppable livestreams, photos, and videos. "Everybody is trying to beef up their infrastructure for social commerce," Jason Goldberg, the chief commerce-strategy officer at Publicis Groupe, told Insider. Here's the current state of play in social shopping:

☆ 'It's a disastrous situation': Women leaders are leaving companies at the highest rate ever
▼ + stars: | 2022-10-18 | by ( Morgan Smith | ) www.cnbc.com time to read: +5 min

Women leaders are leaving their companies at the highest rate ever, and the gap between women and men in senior roles quitting their jobs is the largest it's ever been, according to new data from LeanIn.org and McKinsey & Company, which started tracking these numbers in 2015. Women are still struggling to climb the corporate ladderMore than half (58%) of women under 30 say career advancement has become more important to them over the past two years, compared to 31% of women leaders. What's more, women leaders are twice as likely as men leaders to be mistaken for someone more junior — and 37% of women leaders have had a co-worker receive credit for their idea, compared to 27% of men leaders. "It's a disastrous situation … you're not promoting enough women into the leadership ranks, and now you have more women leaving leadership roles," Thomas says. "In a world where women remain dramatically underrepresented in senior leadership, those two problems together create a pretty awful one-two punch for companies trying to hold on to women leaders."

☆ 'There are a lot of miserable women in corporate America': Women leaders have been leaving their jobs and companies in unprecedented numbers, a new report suggests
▼ + stars: | 2022-10-18 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +7 min

A new report suggests female executives ditched their jobs in unprecedented numbers in 2021. The report suggests women leaders experience a range of microaggressions that undercut their authority and stymie their career progression. For instance, the report indicated that 37% of female leaders had had a coworker get credit for their idea, compared with 27% of male leaders. It also suggested that women leaders were twice as likely as men to be mistaken for someone more junior. Wade Hinton, an inclusion consultant, told Insider he's not surprised by the large numbers of women leaders leaving their employers.

☆ Female leaders do more for diversity, equity, and inclusion at work than their male counterparts, but they aren't being recognized for it, a new report says
▼ + stars: | 2022-10-18 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

They're twice as likely as male leaders to spend substantial time on DEI work, but 40% say their DEI work isn't acknowledged in their performance reviews. as male leaders to spend substantial time on DEI work, but say their DEI work isn't acknowledged in their performance reviews. Fixing this issue could aid retention of female leaders at work at a time when companies are losing them at an unprecedented rate. The report notes that 43% of female leaders are burned out, compared to 31% of men at the same level. This could in turn lead to faster promotions and better pay, which can aid retention of female leaders at a time when companies are losing them in droves.

☆ Why women in leadership roles are more likely than ever to quit
▼ + stars: | 2022-10-18 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +4 min

And women who do ascend to leadership roles are more likely than their male counterparts to have their authority undermined and have some of their efforts go unrecognized. For Black women leaders, the undermining is worse. Of women leaders surveyed, 40% said their diversity, equity and inclusion efforts are not acknowledged in performance reviews. Roughly half (49%) of the women leaders surveyed said flexibility is among their top three considerations when deciding to join or leave a company versus 34% of men leaders. “Women leaders are leaving their companies at the highest rate ever, and the gap between women and men leaders leaving is the largest it’s ever been,” the study’s authors noted.

BlackRock, which manages around $8 trillion in assets, said Transition Capital would work with portfolio managers and BlackRock's capital markets team to find and back "proprietary transition-focused opportunities" across asset classes and geographies. The group would also work with BlackRock colleagues to develop new investment strategies and funds, and help deepen the company's research in the area, the memo said. The new unit will be part of BlackRock Alternatives and run by Dickon Pinner, who previously led on sustainability at consultant McKinsey, where he advised on the transition, the memo said. Pinner will report jointly to Edwin Conway, Global Head of BlackRock Alternative Investors, and the company's vice-chair, Philipp Hildebrand. As well as joining the BlackRock Alternatives Executive Committee, Pinner will also sit on senior sustainability committees, the memo said.

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