In uncertain times, how do you lead with courage?

Compete in three key areas ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

TODAY'S NEWS. TOMORROW'S INSIGHTS. A daily newsletter from McKinsey & Company   Edited by Belinda Yu   Editor, Atlanta Leading with courage The news • Uncertainty, meet confidence. When the world is so uncertain, how can leaders move forward with confidence? It's impossible to make perfect predictions, particularly when today's economic climate seems so ambiguous. One tool to make better decisions is to draw from the wisdom of crowds. Averaging the opinions of a small group of experts often results in more accurate forecasts than any individual prediction, academic research shows. People relying on a sole expert might also be more susceptible to impostors who only feign knowledge. [HBR] • New jobs for uncertain times. Head of team anywhere. VP of flexible work. Head of remote. These are a few of the latest job titles arising from the remote-work era. Routines have been upended, with millions of workers still reluctant to return to commuting. Now, organizations are looking to fill unique roles that reflect changing times, including ones that lift morale. The "chief heart officer" at one agency spends each day connecting with workers, whether through posting staff newsletters or chatting with colleagues about tasty hot sauce recipes. [NYT] What differentiates bold leaders isn't moving in the right direction, but doing so decisively before others have mustered the collective confidence to commit. Our insights • Don't play defense. CEOs, board members, and others all share that today's environment is perhaps the most challenging one that they have ever faced, note McKinsey senior partners Michael Birshan, Ishaan Seth, and Bob Sternfels. Organizations confront many challenges: the war in Ukraine, rising inflation, the ongoing global pandemic, supply chain bottlenecks. Although many executives are adopting a defensive stance, our research on corporate resilience suggests that cautious, "wait and watch" tactics tend to produce median company performance. • Volatile times. The most effective leaders focus on near-term threats while also moving boldly into the future. Such leaders understand that when volatility is high, seeing accurately more often than rivals creates competitive advantage. One global bank achieved this by tapping into the collective wisdom of roughly 70 of its chief country officers. This group uncovered trends that enabled sales teams to better identify client opportunities, giving the company an important advantage with clients. To compete in an age of volatility, focus on three critical areas. Explore critical capabilities Was this forwarded to you? Sign up here. Or send us feedback — we'd love to hear from you. Follow our thinking This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007