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McKinsey & Company
Leadership in the Digital Age
CONFIDENTIAL AND PROPRIETARYAny use of this material without specific permission of McKinsey & Company is strictly prohibited
Leadership in the Social Era
Liz EricsonAssociate Principal
McKinsey
Katie CarrollSr. Editor, Social Media EMEA
Leadership in the Digital Age
CONFIDENTIAL AND PROPRIETARYAny use of this material without specific permission of McKinsey & Company is strictly prohibited
Liz Ericson
LinkedIn Talent Connect | 21 October 2015
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Standing out
Common truths
Your questions 1|
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Digital strategyis not the target
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Customer expectations are industry agnostic
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Digital is (still) all about the physical stuff
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Datais only as
good as the decisions you make as a result
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Agilityis the truekiller app
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Standing out
Common truths
Your questions 6|
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Digital and disruption are not
someone else's problem
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Most transformations fail because of people
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Leaders need to know the right questions to ask
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Success is not guaranteedbut there are things to look out for
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Linked to business strategy
Bold, long-term orientation
Centered around customer needs
Strategy
Digital Quotient assesses organisations’ digital maturity
Risk appetite
Test and learn
Speed / Agility
Internal collaboration
External orientation
Culture
Connectivity
Automation
Data-driven decision-making
Content and digital marketing
Customer experience
IT architecture
CapabilitiesOrganization
Roles and responsibilities
Talent and leadership
Digital investment
Governance / KPIs
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Not all DQ leaders are great at everything
The “Digital Souls” (23%)
The “Super Stars” (46%) Higher than average score against the majority of management practices
The “Digital Hands” (31%)
Terrific culture overcoming weak digital capabilities
Terrific capabilities overcoming weak external orientation – To be confirmed as dataset increases
Culture CapabilitiesOrganizationStrategy
32
64
60
36Total DQ™ dataset average
74
40
83
67
59
34
58
28
73
35
69
69
Note: Digital leaders defined as DQ score equal to or above 50. N=13 for digital leaders, N= 147 for dataset average
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Strategy: Digital leaders’ strategies are more ambitious, targeted and integratedCompanies with a high DQ™ score are…
SOURCE: McKinsey Digital Quotient dataset
more likely to have a well-defined mobile strategy6x
4x more likely to have fully integrated digital initiatives in the strategic planning process
more likely to develop comprehensive digital initiatives that address the most important threats and opportunities to position them as digital leaders in their industry
7x
5xmore likely to have defined their digital strategy based on a granular understanding of customer needs at each stage of the CDJ
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Culture: Digital leaders rally behind bold, calibrated opportunities and move fast to turn them into realityCompanies with a high DQ™ score are…
more likely to nurture a culture of trust and mutual accountability6x
4x more likely to take bold risks to transform their customer experience
2x more likely to rely on external partners to build new products and services
more likely to run strategy by experimentation8xSOURCE: McKinsey Digital Quotient dataset
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Organisation: Digital leaders are built to support long-term digital effortsCompanies with a high DQ™ score are…
SOURCE: McKinsey Digital Quotient dataset
6x more likely to have clear distribution of roles and responsibilities for digital
more likely to measure ROI of digital initiatives beyond digital marketing 6x
6x more likely to have transparency and alignment on priority digital initiatives
more likely to have an effective recruitment process for digital talent10x
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Capabilities: Differentiation between digital leaders and average is weaker for the Capabilities dimensionCompanies with a high DQ™ score are…
SOURCE: McKinsey Digital Quotient dataset
7x more likely to have made digital one of the top priorities for IT investment
6xmore likely to understand and answer customer needs when it comes to online/mobile customer service
24/7
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Capabilities dimension concentrates the “universal headaches” that all companies are trying to figure out
Low level of personalization and connectivity across-channels, driven in part by data challenges - less than 5% of companies have a fully integrated view of internal and external customer data and can turn collected data into breakthrough insights
Constraints from legacy IT architecture – less than 7% of companies have a modern and flexible IT architecture that can support all digital initiatives
Limited automation for purposes non directly related to customer service – less than 3% of companies use digital technology to manage employee performance and capacity and/or to share, coordinate and streamline work
DIGITAL LEADERS DO NOT PARTICULARLY STAND-OUT ON THESE DIMENSIONS
SOURCE: McKinsey Digital Quotient dataset
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This is a journey
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Standing out
Common truths
Your questions 10|
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Thank you
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