Abstract: The article describes how the wealthy nations of the world with
low birthrates and graying workforces are finding it difficult to compete with emerging
markets with much larger and younger working populations. This had made it
imperative and compelling for the wealthy nations to take up the productivity
challenge to produce more and more with fewer workers.
The article conclusion is that developed economies would have to deploy
innovative business models to get more from their higher quality knowledge
employees. This article suggests that some of the aspects of such a
transformative business model can be changing the boundaries around the
work–life balance or better adopting approaches such videoconferencing to
collaborate and exchange knowledge with far-flung employees.
Published: McKinsey Quarterly, June 2010
Authors: Peter Bisson, Elizabeth Stephenson, and S. Patrick Viguerie
Link: Improving Productivity