The 10 lessons McKinsey is learning from the pandemic

Two years ago, France was still confined due to the COVID-19 pandemic. After two long years of crisis, McKinsey has learned several lessons from the management of this disease on a global scale, but also from its impact on the economy.

Coronavirus, also known as COVID-19 or SARS-CoV-2, has had a powerful impact on the lives of everyone on the planet. Whether from a medical or financial point of view, no one has been spared the current crisis in China.

In March 2020, companies and governments faced a rare phenomenon and management could have been chaotic due to this unprecedented situation. The various IPCC reports estimate that climate change will lead to a proliferation of pandemics. Thus, the consulting firm McKinsey has prepared an assessment of this crisis and the lessons that can be learned from it to better cope with the forthcoming global catastrophes.

Also read: McKinsey is looking for his next analysts and business associates

Infectious diseases: a problem that affects the whole of society

For McKinsey, the first lesson to be learned from the pandemic is that infectious diseases are a problem that affects the whole of society. In fact, the death toll from COVID-19 is staggering. Nearly one in 1,300 people died from the disease. But the pandemic has affected everyone on the planet. The health system has suffered a lot, children, especially from disadvantaged neighborhoods, have been the hardest hit by this crisis. In addition, there has been an increase in cases of depression or anxiety attacks.

However, the crisis has highlighted the medical advances linked to the creation of vaccines. This is McKinsey’s second lesson in the pandemic: we are now able to synthesize viruses and produce vaccines much faster than before. Only 326 days passed between the start of the pandemic and the authorization of vaccination.

The third lesson concerns precisely the distribution of this vaccine, which has not been coordinated. However, a global effort to distribute vaccines equitably is one of the pillars to eradicate a pandemic. The main problem was the lack of production and storage centers for these vaccines. It seems that developing countries have learned the lessons of the crisis as they are in the process of setting up these establishments to anticipate future crises.

Also read: War in Ukraine: What about exchange students and internships in Russia?

Adapting to the citizens, McKinsey’s advice to deal with crises

In his paper, McKinsey reveals a whole series of lessons for governments that have somehow tried to deal with a crisis and a pandemic of which we had little information. Lesson 4 of the consultancy is that trust is a key element in successfully coping with crises. In fact, McKinsey notes a genuine mistrust on the part of populations around vaccines, and the Cabinet indicates the need to build a relationship of trust between public and private institutions and the general public by soliciting scientists.

Another lesson learned from the coronavirus pandemic: you need to be agile and know how to adapt. Crisis management was done on a day-to-day basis because states and businesses had little knowledge of the disease. Therefore, it is important to know how to adapt very quickly to different changes and to communicate well at all times with the population, to ensure that it adheres to the different measures.

This lesson leads us to McKinsey’s sixth lesson: It is important to consider the needs and desires, but also the behaviors of individuals in order to be able to implement an appropriate response to the virus. Again, it is important to communicate well to make the population understand the reasons for the implementation of the different devices such as confinement or the use of a mask.

COVID-19: schools and companies at the heart of the disorders

The pandemic has had a major impact on two institutions: the company and the school. During the first confinement, the two closed their doors completely, although the latter were able to recover by offering distance learning or work.

With his lesson number 7, McKinsey clarifies that school closures were necessary, but they had devastating effects on some children who actually dropped out of school. Consulting recalls the crucial role that education plays in society and it is important to return it to the center of concern in the event of a crisis or pandemic. It is therefore necessary to anticipate and implement the appropriate tools to avoid leaving the school system.

The eighth lesson McKinsey is learning from the COVID-19 pandemic is the impact of the crisis on the business world. The consultant even states that the world of work will not be ” never the same again With the introduction of teleworking, employees have become very interested in flexibility and now want to integrate some of the distance learning into their week. In addition, thousands of people he wrote his letter of resignation after questioning their missions, their jobs. It is therefore necessary to integrate more meaning, but also more flexibility in the world of work.

Investing and protecting: the keys to dealing with a crisis according to McKinsey

Should we protect the economy or the people? This question may have arisen during the onset of coronavirus. Many preferred to protect the population and this is the ninth lesson McKinsey has learned from this crisis. Indeed, the institution specifies that it is ultimately difficult to protect the economy if we do not control an epidemic. The impact on citizens is too great and can have serious consequences for their health, of course, but also for the proper functioning of an entire country.

The last lesson McKinsey learns from the crisis is precisely that we must invest heavily in protecting its citizens. By putting money on the table, governments can better control and control pandemics and thus limit their impact on individual health and the economy. This investment will also help to better anticipate future global disasters.

Also read: The 10 applications to download to get out in times of crisis

Leave a Comment