New research from McKinsey finds they have four strategies in common.
February 16, 2023
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A new report from McKinsey Global Institute finds that U.S. productivity growth has slowed in the last 15 years to 1.4% annual growth (as compared to long-term rates of 2.2% since 1948). It also found striking variations in productivity among leading and lagging firms within each sector — a gap that is only widening. Across sectors and geographies, the most productive companies follow a playbook with these four elements: 1) They capture value from digitization; 2) They invest in intangibles (such as R&D or workforce capabilities); 3) They build a future-ready workforce; and 4) They take a systems approach. If more firms followed this playbook and brought the U.S. closer to 2.2% growth, it could be worth $10 trillion in cumulative GDP by 2030.
