Crisis management, social and environmental issues, and the accelerated adoption of

technology are occupying time previously devoted to strategic leadership and finance
capabilities.
As the COVID-19 crisis drags on, executives, particularly in developed economies, are
feeling worse about the state of the economy and their own companies’ prospects. It’s
natural that a challenge as unremitting as the pandemic should produce alternating
hope and despair. This week, McKinsey examined the backslide in executives’ views, and
a variety of similar issues that require problem-solving as dogged as the problems
themselves, including vaccine development, transport decarbonization, employee
needs, and the extraterrestrial junkyard.
What will it take to move the transport infrastructure industry toward carbon zero?
Globally, more than $2 trillion of transport infrastructure investments will be needed
each year until 2040 to fuel economic development. The transport sector is the largest
contributor of greenhouse-gas emissions within the European Union, and emissions are
still growing. McKinsey’s road map lays out changes needed in planning, design, tender,
procurement, and operations that can help the industry forge a more sustainable path
forward.
More than 63 percent of the US population have received at least one dose of a COVID-
19 vaccine, and more than 54 percent have been fully vaccinated, as of September 16,
2021. A minimum of roughly 80 million additional individuals would still need to be
vaccinated in the next few months for the country to have a chance at reaching herd
immunity. Among the unvaccinated, 14 percent are “Unlikely adopters,” who may never
take the shot, while 7 percent are “Interested,” meaning that they plan on getting the
vaccine. The most dynamic unvaccinated group is the “Cautious” category, people who
may get vaccinated if their concerns can be addressed (exhibit). Aiding in scheduling
appointments, as well as addressing worries about long-term side effects, could help
move this group into the vaccinated category.

COVID-19: Briefing note #71, September 8, 2021

What will be the top priorities in the next normal?

 As companies and industries plan for life after the COVID-19
pandemic, one of the trickiest tasks will be to identify a new
set of priorities. Throughout this crisis, coping and keeping up
with the ever-shifting situation have taken precedence. But a
contagious virus will not always be the top concern for
organizations, and other urgent issues, including
sustainability, cloud computing, and competition for talent,
will require top-of-mind focus. This week, McKinsey examined
how leaders can identify and address what matters most in
the postpandemic world.

In the wake of COVID-19, a top priority for many companies

has been to address talent questions, including how to
optimize hybrid teams, attract and retain workers with
needed capabilities, and make the most of scarce skills.
Forward-looking organizations are choosing flow-to-work
operating models, which create pools of resources that can be
deployed flexibly and on demand. These pools are formed
based on similarity of skills, rather than similarity of business
functions, making it easier for organizations to access the
right skills when they need them (exhibit).
Exhibit
https://instituteforpr.org/the-impact-of-covid-19-on-the-five-functions-of-management/
The COVID-19 pandemic resulted in a renewed focus on internal communication as many organizations had to introduce
new working practices, furlough employees, and handle sudden redundancies. This has created unique challenges for
organizations as they adjust to new operating, business, and public policy environments. As a result, consistent, accurate,
and reliable information is critical to ensuring employees are able to respond effectively to the crisis while maintaining
productivity

5.) Controlling: Remotely monitoring staff progress and performance can be difficult. Participants shared
several solutions they developed throughout the pandemic to address this issue. The most critical solution was
the use of regular and informal check-ins to maintain ongoing communication amongst team members. Informal
check-ins allowed employees to take performance monitoring into their own hands and self-manage
accordingly. Many participants indicated they were pleased with the quality of the work produced by their
teams; only a small number of respondents noted systematic use of performance monitoring systems or
software. Generally, most managers relied on traditional methods of performance measurement, like setting
clear deadlines and regular performance meetings with employees. Managers noted that digital tools such as
Intranet were used to communicate and monitor team performance.

The challenges presented by COVID-19 exemplified that managers who invest time and energy into delivering
clear lines of communication will build trust among employees and generate improvements in productivity,
output, and morale in general.

SOLUTION
those that capitalize on post-COVID opportunities will find themselves in a good position
to retain their talent and attract people when the situation stabilizes. By contrast, those
that fail to change will be left behind, exposing their employees to increased risks of
financial distress, facing layoffs and closures.

But what changes should be on their radar?

1. Rapid reskilling

If employees are taught how to build a learning mindset, it will prepare them well for
dealing with a constantly, even sometimes abruptly, changing environment.

The quick adoption of new, advanced technology is the central catalyst and is likely to
lead to an acceleration in the creation of new roles. Changes in workload during the
pandemic have sometimes resulted in an imbalance of resource allocation. Reskilling and
upskilling can help employees move from one part of the business to another.
Image: Zurich

The economic impact of COVID-19 also has a direct impact on responsibility surrounding
youth employment. In the wake of the last financial crisis, some countries saw entire
generations face a future with far fewer opportunities.

Governments are worried that youth unemployment will skyrocket because many jobs
impacted by COVID-19 are held by younger people. The COVID-19 Risks Outlook report,
published by the World Economic Forum in collaboration with Zurich, gave such a concern
justification, finding that 49.3% of senior risk experts believe high levels of structural
unemployment, particularly among the young, is a likely consequence of the pandemic. At
Zurich, we will use our institutional skills and knowledge to help retrain and reskill our
younger new hires.

What do business leaders think are the greatest risks to the world due to coronavirus?
Image: World Economic Forum

2. Changing leadership and management competences

The COVID-19 crisis sent shockwaves through industries and economies, but perhaps its
greatest impact has been the human one, namely fear and uncertainty. A big part of this
has been the fact we have a totally new routine – one in which everyone who can must
suddenly work from home.
Image: Zurich

There’s no blueprint for what we’re facing and business leaders around the world are
changing strategies to keep up.

In tandem with honing digital skills and an improved infrastructure, it is necessary that
corporate culture and leadership skills focus on empathy as transformation and
disruptions become the new normal.

 The post-COVID world will give us an unprecedented opportunity to course correct and create
stronger, better versions of our societies. Everyone has a role to play in this new vision; and
businesses of all sizes should see themselves reflected in plans to rebuild the economic
engine and help to create inclusive, skilled workforces and sustainable value and supply
chains. 
Thế giới hậu COVID sẽ cho chúng ta cơ hội chưa từng có để sửa sai và tạo ra những
phiên bản xã hội tốt hơn, mạnh mẽ hơn. Mọi người đều có vai trò trong tầm nhìn mới
này; và các doanh nghiệp thuộc mọi quy mô nên thấy mình được phản ánh trong các kế
hoạch xây dựng lại động cơ kinh tế và giúp tạo ra lực lượng lao động có kỹ năng, đồng
đều, giá trị bền vững và chuỗi cung ứng. 
Kết quả thống kê cho thấy là quý II năm 2020 đánh dấu sự sụt giảm lực lượng lao động lên tới hơn 2 triệu người - mức giảm chưa
từng có trong thập kỷ vừa qua, lực lượng lao động giảm chủ yếu ở khu vực nông thôn và lao động nữ. Quý II năm 2020 cũng chứng
kiến sự sụt giảm mạnh mẽ của lao động từ 15 tuổi trở lên có việc làm và tỷ lệ lao động thiếu việc làm tăng mạnh, tỷ lệ thất nghiệp thì
cao nhất trong vòng 10 năm qua, trong đó tỷ lệ thất nghiệp tăng nhiều nhất ở nhóm lao động có trình độ chuyên môn kỹ thuật thấp.

https://www.pwc.com/vn/vn/publications/vietnam-publications/rtw-
considerations.html