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The Dutch labor market is strong and evolving: labor force participation is notably high, and unemployment levels are historically low. But ongoing trends, including an aging population and declining productivity growth, are putting the labor market under pressure. Recently, McKinsey projected that labor market tightness could triple by 2030 if the Netherlands maintains current levels of growth in GDP (1.6 percent CAGR) and productivity (0.4 percent CAGR). While traditional automation…

Latin America’s grocery retailers are finally on firm ground again. After several volatile years—with grocers battling everything from the COVID-19 pandemic to inflation and rising joblessness—the sector showed signs of stabilizing in the first half of 2024, leading to increases in spending. Yet challenges persist. Our latest report finds four primary trends grocery retailers across Latin America must respond to: consumers’ continuing search for value, an ongoing transformation of the…

Over the past five years, nongrocery retailers in Europe have faced twin challenges: navigating fierce macroeconomic headwinds and a heightened competitive landscape while catering to increasingly selective consumers. On the first count, inflation-adjusted sales have yet to return to 2019 levels in all top European markets, and generalist marketplaces and discounters have ignited a race to the bottom on price and quality. Balancing sustainability with growth poses a dilemma to…

The past few decades have not been easy for project deployment in metals and mining. Historically, the approach to project execution has been characterized by poor front-end project definition, misaligned incentives, constrained resources, and deeply ingrained legacy practices. Further complicating matters, the outbreak of COVID-19 created a whirlwind of volatility in most industrial markets, with volatility in few markets rivaling the level of operational disruption in mining. Since then, mining…

It’s been five years since the Business Roundtable, an association of more than 200 CEOs of leading US companies, redefined the purpose of a corporation as delivering value to all stakeholders—“our companies, our communities, and our country.” While the perception of stakeholder capitalism has evolved since then, the roundtable’s focus on stakeholders beyond shareholders reinforced the importance of a skill that not all chief executives have mastered: managing a broad range…

At first glance, the outlook for the global cement industry appears grim. Particularly in Europe, the industry has limited opportunities for growth, with flat or declining volumes and low valuation multiples. Companies are also having trouble attracting talent and facing significant costs to reach net-zero emissions. This is a challenging puzzle to solve—but it could be the start of a new “golden age” for the industry.One major unlock—the greater adoption…

As one of the oldest industries, insurance has evolved significantly since its inception and grown to include new, niche offerings. Throughout Vince Tizzio’s long career in insurance, he has developed a deep understanding of the specialty insurance space and proved he can develop strong organizational cultures. As the president and CEO of AXIS, Tizzio constantly strives to deliver premium growth for small and mid-size specialty businesses, expanding AXIS’s offerings and…

Nearly one hundred years of McKinsey’s insights and knowledge serve as the source material for the firm’s AI platform, “Lilli.” In this episode of the At the Edge podcast, Erik Roth, a McKinsey senior partner and global leader of growth and innovation, joins senior partner Lareina Yee to discuss how Lilli was developed and thoughtfully executed—and why immediate access to the firm’s intellectual property has transformed the way McKinsey serves its clients.…