Our Eight Most Revealing Reads

Insights from Bain Best of Bain 2022 ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Ideas to End the Year On | The Best of Bain 2022 [View in browser]( [Bain & Company]() OUR TOP STORIES OF THE YEAR [⇒ The recession's winners]() [⇒]()[What if in DEI, you only have "I"?]() [⇒]()[A new mandate for CEOs]() ⇒ [Boring work is rarely purposeful]() Our Most Revealing Reads of 2022 If you sense the world spinning faster, you’re not alone. From supply shocks to war to rare weather events, this year poured a historic level of disorder into the market. To help you make sense of what’s transpired (and what’s next) we present our 8 most revealing reads and reports of 2022. Collectively they make a compelling argument for three priorities: a more nuanced view of automation, a more empathetic mode of management, and the need for bold and decisive action. Bold and decisive because next year you’ll likely see many competitors retreat in search of savings and safety. But our research convincingly suggests that 2023’s winners will be those with the foresight, courage, and independence to think big and forge ahead with confidence. —The Editorial Team [1. Want to win big? The recession could help]() Recessions are make-or-break times. Literally. The number of “rising star” companies is [47% higher]() than in quieter times. However, recessions also increase the odds that your company falls into “sinking ship” territory. The companies that suffered the latter fate were the ones that hunkered down, froze hiring, and burned the proverbial furniture to save on costs. But rising stars lean into recessions and see them for the opportunities they are. One freight and logistics company, for example, scaled up automation and saved $300 million on gasoline and emissions. [► YOUR RECESSION PLAYBOOK Read, 11 min]() [2. Humans aren’t just factors of production]() We looked at 10 countries that represent around 65% of global GDP and found that people’s motivations for working [have changed](). Fifty-eight percent say the pandemic caused them to utterly rethink “balance,” and each successive generation appears to value work less—likely the result of rising prosperity. As you look to marshal your own people next year, are you seeing human resources, or, instead, human faces? [► CHANGE HOW YOU THINK ABOUT WORK Read, 30 min]() [► QUIZ: WHAT TYPE OF WORKER ARE YOU? Read, 2 min]() Rising prosperity has reduced the time that people need to spend working [3. Automation might not be such a job killer]() We analyzed five work skills to understand how susceptible they are to automation, and then how integral those skills are to 15 professions. Many [jobs of the future]() will favor human skills. [► INFOGRAPHIC: AUTOMATION MAKES US MORE HUMAN Read, 2 min]() [4. You can have “DE” without “I,” but top performers have all three]() When people feel excluded, they feel physical pain—with obvious consequences. But can you have inclusion without diversity? Diversity without equity? We unbundled “diversity, equity, and inclusion” and [isolated the effects]() of each. Top takeaways: - Most people describe “inclusion” in remarkably similar ways - The things employees request aren’t always what work - Inclusion has the greatest effect—but is best paired with diversity [► HOW TO WEAVE YOUR OWN INCLUSIVE CULTURE Read, 15 min]() Just improving inclusion yields more benefits than diversity alone, but improving both is best [5. What’s the sound of two chatbots arguing?]() Would you worry about your firm producing your digital twin? Should you trust code that’s written by other code? As enterprise technologies promise an ever-expanding array of new possibilities, how do you decide which to invest in? We analyzed more than 1,000 technology initiatives at companies in multiple industries and [identified six trends]() that will—or should—guide your decisions. Companies that embrace these trends are on track to deliver 7% to 10% higher shareholder returns annually. [► WHICH OF THE SIX TRENDS ARE YOU MISSING OUT ON? Read, 15 min]() [6. CEOs have a new mandate: Build new businesses]() We met with executives from 1,200 companies in 300 virtual forums for 40 markets. Here’s the bottom line: It’s time to reset priorities. For the past three years, it’s been all about delivery. Now it’s time to [adopt a 50/50 focus]() between running the current business and launching the next one(s). [► FOUR WAYS CEOs CAN SPUR INNOVATION Read, 15 min]() [7. 1-in-500-year weather disasters are now an annual problem]() This summer, a generational drought in Sichuan, China, shut down the operations of Apple, Intel, and CATL. Floods in several regions proved even more catastrophic. Extreme weather events have increased five-fold and won’t be solved simply by stacking sandbags. Leaders recognize that [climate resilience]() is a major risk across their supply chains and right up to their customers’ doors. A systemic approach is the best way to mitigate risks. [► CLIMATE RESILIENCE: NO TIME TO WASTE Read, 15 min]() [8. Work can’t be purposeful if it’s boring]() Better pay, flexibility, and mission statements haven’t had much impact on aggregate quit rates. The challenge is this: People are bored with repetitive work. They don’t see how their jobs level up to the mission and many [don’t feel challenged to learn](). But there’s a lot that companies can do. They can make work more interesting, like Walmart, which uses smart assistants to minimize monotonous tasks. That has significantly lowered attrition. Or they can make work more inspiring, like USAA, the financial services firm that serves military members, which puts employees through mock boot camps. USAA boasts a Net Promoter Score four times higher than average. [► ALSO: LEARNING MATTERS. A LOT. (HBR) Read, 9 min]() One question to consider next year [Do You Need An "Engine Two?"]() [Bain & Company](/Mzc4LU5ZVS0yMjAAAAGI-KrQEW7wLIVt7f1d6myQZJvI8K9zEG9U294PqU61JPACkLNbfsIZGimHxjXw2pWyHX0E4Oc=) [LinkedIn]() [Twitter](/Mzc4LU5ZVS0yMjAAAAGI-KrQEW7wLIVt7f1d6myQZJvI8K9zEG9U294PqU61JPACkLNbfsIZGimHxjXw2pWyHX0E4Oc=) [Facebook]() [YouTube]() You received this email because you subscribed with your email address ({EMAIL}). You can update your [subscription preferences]() or [unsubscribe]() at any time. 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