Your zip code may be the most important factor determining your economic future. So says a report released this month by the McKinsey Global Institute.
Below is a link to that study and three other articles/reports worthy of your time on important trends that will impact you and your business/profession. I found them compelling and I think you will too.
D’Amelio Network manages experts who speak on these issues and more. In fact, our GEOFF COLVIN of Fortune wrote two of the pieces cited below.
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A new McKinsey Global Institute study published this month looks at 315 U.S. cities and 3,000 counties and how their workers will be affected by automation over the next couple of decades. The risk is an increase in the widening gap between the haves–well-educated and well-located–and the have-nots in the U.S.
The new FORTUNE Global 500 list – out this month – reveals a profound shift in the balance of global power. American companies account for 121 of the 500 spots – stunningly, China accounts for 129 (including 10 Taiwanese companies). For the first time since World War II, a nation other than the U.S. is dominating global business. Our GEOFF COLVIN wrote the forward to the Global 500 issue which you can read here. It bears mentioning that the most striking characteristic of China’s presence on the Global 500 remains the overwhelming—and growing—dominance of state-owned firms. If firms from Hong Kong and Taiwan are excluded, state-owned enterprises account for 80% of the revenue generated by Chinese companies on the 2019 list, up from 76% last year. Still, this is an extraordinary development.
The answer, based on a new study, might surprise people: “For the first time in modern history, automation isn’t necessarily good for workers overall,” the report concludes. Geoff Colvin’s latest FORTUNE article says this trend “…requires new assumptions by business and government leaders, investors, and workers. It suggests that voters may demand public policy that controls technology’s effect on workers, since tech can’t be counted on to boost workers’ well-being overall.” This could be the defining work issue of our time.
Finally, a global survey conducted by Glassdoor revealed more job seekers are putting company values ahead of their paychecks. They surveyed more than 5,000 adults from the U.S., U.K., France, and Germany to understand how employees and companies value a company’s mission and corporate culture. The findings indicate a need for managing disruptive change in employee recruitment and retention. A majority of adults surveyed said they valued a company’s culture above salary in regard to job satisfaction. In fact, 70% of job seekers would not apply to a company unless it aligned with their own personal values. Culture matters!