Stuck in neutral
Women employed in the healthcare sector have seen success, but like so many other industries, their progress in representation drops as they aim for higher levels in the pipeline. Women working in healthcare saw an 8.3 percent promotion rate to the C-suite in 2019, but that figure plummeted to 0.8 percent in 2021.
To read the article, see “Women in healthcare and life sciences: The ongoing stress of COVID-19,” April 8, 2022.
Inflation has accelerated in many economies. According to McKinsey’s Global Economics Intelligence executive summary, inflation expectations in the United States are the highest in recent history (as reflected in the spread between five- and ten-year yields on Treasury bills versus inflation-protected securities).
To read the article, see “Global Economics Intelligence executive summary, April 2022,” May 9, 2022.
The CFO’s growing influence
The role of the Chief Financial Officer is expanding. Our latest CFO survey found that these execs have increasing influence in organizations, with more roles reporting directly to the CFO. Between 2018 and 2021, the share of roles reporting to the CFO rose in functions including procurement, investor relations, and digital.
To read the interview, see “In conversation: The new CFO mandate,” April 8, 2022.
Right on the money
Greater demand for goods and services has put workers in a more powerful position—leading to wage rates in the private sector that are double those before the pandemic. A McKinsey analysis shows the highest wage gains were seen in service sectors, particular hospitality and leisure, warehousing, and construction.
To read the article, see “Full-potential procurement: Lessons amid inflation and volatility,” April 8, 2022.
Helping rural America thrive
Economic development strategies for rural communities in the United States must come from a tailored approach, depending on the needs and makeup of various regions. McKinsey identified five archetypes of local economies, from resource-rich regions to distressed Americana. A focus on particular workforces and connectivity efforts are key to promoting economic success in these areas, according to McKinsey research.
To read the article, see “Rural rising: Economic development strategies for America’s heartland,” March 30, 2022.