Sep 25, 2024
By: BI India Bureau
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McKinsey’s latest research highlights that organisational health continues to be the most reliable predictor of value creation and a lasting competitive edge in the global market. Here are some key strategies recommended by McKinsey to sustain strong organisational health.
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The days of authoritative, top-down leadership are over. Leaders who rely on "Do it because I said so" are no longer effective. Empowerment encourages autonomy and trust, leading to greater organisational health and employee satisfaction.
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To truly engage employees, it’s essential to articulate a clear, shared purpose. When workers understand the bigger picture and the "why" behind their tasks, it makes the employees feel more empowered and aligned with the company’s goals. This contributes to stronger organisational health.
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Younger generations, especially, value meaningful work over financial incentives. Companies that foster this sense of purpose find that employees are more motivated and have a stronger sense of ownership over their roles.
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While empowerment is critical, effective leadership also requires decisiveness. Leaders today must make timely, actionable decisions to keep the organisation moving forward.
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Data has become the lifeblood of decision-making. Organisations that rely on intuition are being left behind. By focusing on data-driven insights, companies can remove personal bias and make more informed decisions that fuel innovation and drive growth.
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Data isn’t just about making better decisions; it’s about innovating faster and more efficiently. Metrics provide critical feedback that allows organisations to pivot quickly and make smarter choices.
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Organisations that invest in their employees' growth and well-being are the ones that thrive in the long run. Gone are the days when engagement was measured solely by productivity. Companies need to support their employees holistically, helping them grow both personally and professionally.
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When it comes to technology, organisations need to make smart, targeted investments that drive productivity and efficiency. Successful technology investments should directly tie into improved business outcomes, not just superficial perks.
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Today's employees expect more than just sustainable practices from their companies—they demand social responsibility. Organisations that take bold stances on global and social issues build trust with both employees and consumers. By acting responsibly and being transparent, companies can foster loyalty, attract top talent, and enhance their overall health.
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