"You can't accept status quo," said Bob Moritz, PwC Global Chairman, in this week's Meet the Leader podcast. "You've got to create some stress. You have to compromise. You have to learn to not only listen, but act upon what you're hearing. You have to do things differently."
The IMF's F&D winter 2020 issue, produced in partnership with the World Economic Forum, focuses on the future of jobs and economic opportunity.
It explores what can be done to shape a better tomorrow—one that puts people at the centre of policy. From health to education to labour market policies, there is a deep need for redesigning society after COVID-19.
Of the trends that have been exacerbated by the pandemic, inequality is one of the starkest, with uncertain but significant ramifications for the future. The paper focuses on the transformative policies needed to reimagine the world of work and reduce inequality while building on the lessons learned during the crisis.
“We cannot—and should not—go back to the economy of yesterday, with its slow growth, low productivity, high inequality, and worsening climate crisis. We must look ahead to a future where we do things differently.”
— Kristalina Georgieva, Managing Director of the IMF.
Investing in policies for people will help shape a better economy for the postcrisis world, writes IMF Managing Director Kristalina Georgieva in “No Going Back”
In “The Post-Pandemic Brave New World,” Martin Sandbu of the Financial Times writes that policymakers’ choices during the COVID-19 disruption could shape their economies for decades to come
The pandemic has highlighted the value of high-frequency data for responding quickly in a crisis, writes Wenjie Chen of the IMF’s Asia and Pacific Department in “Disparities in Real Time”
In “Distribution Matters,” Binyamin Applebaum, lead writer on business and economics for the editorial board of the New York Times, writes that economics must make room for new insights from other disciplines
The pandemic is accelerating a shift toward more informal and precarious work, writes Sabina Dewan of the JustJobs Network and Ekkehard Ernst of the ILO in “Rethinking the World of Work”
Saadia Zahidi of the World Economic Forum writes that some jobs will disappear, and others will emerge as the world faces a dual disruption in “The Jobs of Tomorrow”
In “How to Make America More Equal,” Heather Boushey of the Washington Center for Equitable Growth writes that progressive economics proposes steps to transform the US economy at this critical moment
In "Wish You Were Here," F&D's Adam Behsudi writes that tourism-dependent economies are among those harmed the most by the pandemic
SPECIAL FOCUS ON YOUTH:
In “The Long Shadow of an Unlucky Start,” Hannes Schwandt of Northwestern University and Till von Wachter of University of California, Los Angeles, write that youth who graduate in a crisis will be profoundly affected and may never fully recover
A series of youth reflections by World Economic Forum Global Shapers from around the world on tackling the pandemic at home
Our Picture This also focuses on how COVID-19 has impacted young people
Facebook is in the news
Facebook will launch Facebook News in January
The move will mean that Facebook will begin paying UK news publishers for some articles. The feature will add a dedicated news tab to the Facebook app, and has already launched in the US.
The company has committed to reach carbon neutrality by 2030 through the protection and restoration of nature in their destination. This initiative is part of #WaveOfChange, a wider movement launched by Iberostar in 2019 pioneering responsible tourism to move towards a circular economy, promote responsible seafood consumption and improve coastal health.
IBM research reveals the power of tech
"We have the right tools at our disposal” – IBM research reveals how technology can forge a sustainable future
From capturing CO2 to rethinking vaccines and batteries, technology is going to reshape business and society over the next five years, so says new IBM research.
But the global technology and innovation company’s latest 5 in 5 report argues that discovery and innovation methods needs to be accelerated in order to develop a sustainable future. To unlock the necessary innovations, IBM experts highlight the importance of capitalizing on the promises of new technologies such as Artificial Intelligence, quantum computing and laboratory automation.
The research also shows how a combination of AI, analytics and data has the potential to support scientists and medical researchers who are racing against the spread of viruses such as COVID-19.
In the next five years, we aim to help facilitate the generation of treatments to aid physicians and front-line workers in combating novel, life-threatening viruses on a larger scale than is currently possible.
—IBM, 5 in 5 Report
Swiss Re: full cost of COVID underestimated
In an interview with ft.com, Swiss Re chief, Christian Mumenthaler, revealed that insurers have underestimated the full economic cost of COVID-19, because they did not expect government measures to protect populations to be so extensive.
He said his company forecasts that the crisis will cost the property and casualty insurance industry $50-$80 billion in claims payouts.
In October, Swiss Re became a member of The Trinity Challenge – a coalition of universities, foundations and leading technology and health companies with the common aim of better protecting the world against health emergencies by harnessing the power of data and analytics.
By becoming a member of The Trinity Challenge, Swiss Re is joining leaders across the academic, non-profit and private sectors including Google, Microsoft and Facebook, GlaxoSmithKline, McKinsey & Company, Bill & Melinda Gates Foundation, the University of Cambridge and Imperial College London. The Trinity Challenge aims to develop ideas and tools for tackling the three stages of infectious disease emergencies – identification, response and recovery.
Heidrick & Struggles: Route to the Top 2020
In Heidrick & Struggles’ Route to the Top 2020, they analysed the backgrounds of CEOs of 965 of the largest listed companies in 20 markets around the world to understand the skills and experiences that shaped their path to the top role.
They also spoke with 10 CEOs from different regions and sectors to explore how they see their role evolving, both in the aftermath of the COVID-19 pandemic and beyond.
They looked closely at the CEOs who were appointed after March 11 of this year, when the World Health Organization (WHO) declared COVID-19 a global pandemic, and compared them to the CEOs appointed from January 2019 to March 10, 2020, to see how boards’ criteria for selecting their top leaders changed as a result of the crisis.
"Our findings indicate that companies have returned to the more traditional comfort zone of candidates, appointing more executives with prior CEO experience and a successful leadership track record."
—Heidrick & Struggles, Route to the Top 2020
Among broader findings, since March 2020, only 3% of the chief executive officers picked by the world's largest companies have been women.
Amazon brings holiday cheer to its workers
Amazon.com Inc said on Thursday it would spend more than $500 million on one-time bonuses for its front-line employees in the United States who are working the holiday season amid the COVID-19 pandemic.
Full-time operations staff in the United States who are employed by Amazon from 1 December to 31 December will receive a bonus of $300, while those in part-time roles will get $150. Read more here.
Our teams are doing amazing work serving customers' essential needs, while also helping to bring some much-needed holiday cheer for socially-distanced families around the world. I've never been more grateful for—or proud of—our teams.