McKinsey, How it operates
orgsolutions - organization structure based on data, organization health index to know where organization stands on global benchmark.
Talent match - a talent and value linkage, providing the people profile information in a fluid manner to determine succession and promotions.
People analytics - Replace instinct and intuition with data based decision for identify, attract, develop and retain talent. This results in increased vigor, reducing bias.
outcomes - 80% reduction in hiring time for a bank, 50% decrease in attrition rates.
- Soft skills for a hard work
- Better decisions
- The Changeable organization
- Getting Small - Independence - carry out functions without formal budgetary requests - minimal dependencies on internal functions - Authorized to conduct activities without first seeking approval
- Meeting time
- Call your broker - (important for linking silos)
Halo effect. The structured interview does not prohibit the use of executive intuition, but it can usefully delay it.
- Agile coach
- Engineering (Data, programming, DevOps)
- Analysts (Capabilities and insights, business)
Core assets - people
Task - Create improvements to an organization
- 1.Substance and relevant - the change is relevant at the organization level, ideally CEOs priority
- 2.Measurable - the effects of change to be measurable, ideally quantitatively
- 3.Sustainable - the change should persist after McKinsey team leaves
- 1.Technical System Hardware of the company - Relationship manager partner, ensures connection between CEO top priorities and core-on-the-ground team - small dedicated teams supported by wide expert network - a research arm, ensures most cutting edge solutions / innovative traditional "game-books" are available
- 2.Management Infrastructure Includes performance as well as talent management. Performance - Metrics for the team such as for the analytical problem solving skills, whether the consultant is able to step back from a problem mindset to think it through the CEO mindset Talent management - every interviewee is subjected to the problem faced by a top level executive of the company, with no guidance on information availability.
- 3.Mindsets and behaviors Ownership of the problem - the core consultant team "own" the problem Continuous learning - McKinsey tracks whether its previous recommendations lead to actual sustainable improvement to the client.
Systematically identify and manage risk before committing to a client project
Internal frameworks, dedicated oversight and decision making support
- Unintended consequences of any proposed work, including potential negative impact to individuals, with particular emphasis on vulnerable populations
- Global Client Service Risk Committee (CSRC), for escalating the potential risk client to evaluate whether to accept or reject work
Quantum Black - Advanced analytics firm. QB have already proven its competence with Formula 1. It operates at the intersection of strategy, technology and design.