After a turbulent few years, Bob Sternfels talks about revamping the company’s structure and employee development; ‘Not everyone gets an A’
- Bob Sternfels plans to revamp McKinsey’s structure and employee development
- McKinsey has faced challenges including legal issues and dissatisfaction within the firm
- The firm is adjusting fee structures and experimenting with deferred payment
- A task force is debating issues tied to McKinsey’s governance
- McKinsey is focusing on employee development and feedback
- The firm is considering setting up internal ‘communities’ for specialized work
- McKinsey wants to deliver ideas while helping clients navigate change
- The firm is under investigation for its work with opioid manufacturers
- McKinsey is reevaluating its footprint in Saudi Arabia and China
- Bob Sternfels aims to bring orthogonal ideas to the CEO
Bob Sternfels, the global managing partner of McKinsey, is planning to revamp the consulting firm’s structure and employee development. The firm has faced challenges including legal issues and dissatisfaction within the company. McKinsey is adjusting its fee structures and experimenting with deferred payment. A task force has been created to debate issues tied to the firm’s governance. McKinsey is also focusing on employee development and feedback, and considering setting up internal ‘communities’ for specialized work. The firm wants to deliver ideas while helping clients navigate change. McKinsey is under investigation for its work with opioid manufacturers, and is reevaluating its footprint in Saudi Arabia and China. Sternfels aims to bring orthogonal ideas to the CEO.·
Factuality Level: 3
Factuality Justification: The article provides a detailed account of Bob Sternfels’ initiatives and challenges at McKinsey, including the firm’s recent issues and changes. However, it lacks depth in analyzing the broader implications of these changes and does not provide a balanced view of the situation. The article also contains some unnecessary details and tangential information that do not contribute significantly to the main topic.·
Noise Level: 3
Noise Justification: The article provides a detailed and relevant analysis of the challenges and changes happening at McKinsey under Bob Sternfels’ leadership. It discusses the firm’s past issues, current strategies, and future plans, offering insights into its operations and culture. The article stays on topic, supports its claims with examples, and provides actionable insights for the reader.·
Public Companies: McKinsey (Not available), Accenture (Not available)
Key People: Bob Sternfels (Global Managing Partner at McKinsey), Asutosh Padhi (Head of North America at McKinsey), Rodney Zemmel (Head of McKinsey Digital), Liz Hilton Segel (Chief Client Officer at McKinsey), Shelley Stewart (Senior Partner at McKinsey)
Financial Relevance: Yes
Financial Markets Impacted: The article discusses McKinsey’s financial challenges, including a downturn in demand, legal challenges, and settlements related to its work with opioid makers. It also mentions changes in fee structures and leadership shake-ups within the firm. These factors could impact McKinsey’s financial performance and reputation, as well as the broader consulting industry.
Financial Rating Justification: The article provides information about McKinsey’s financial challenges and potential impact on the company and the consulting industry.·
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: ·
www.wsj.com 
