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Brains abroad
The take-away
For most countries, tackling the fundamental cause of the
talent drain will take years. Comprehensive economic reform is
needed in place of the hodgepodge of regulatory and fiscal
incentives emerging markets have generally offered to lure emigrants back home. Meanwhile, a strategy that
encourages the participation of emigrants in the economic development of their home countries can mitigate the
effects of today's brain drain.
The take-away
Companies that offer lower incentives for current
performance and balance them with incentives for work on long-term projects do better at both.
Turkey’s quest for stable growth
Turkey has liberalized its economy over the past 20 years, but its bid to join the
European Union will likely hinge on its ability to make further gains in productivity. A
McKinsey Global Institute study of 11 sectors of the Turkish economy found that
they are achieving only half of their potential. Closing the gap would mean that
Turkey could create six million jobs by 2015 and raise its GDP by 8.5 percent—a
feat that would greatly improve the living standards of its 70 million people and
substantially improve its chances for EU membership. This article gives an overview
of Turkey's challenges and takes a closer look at the automotive, confectionery, and
energy industries.
The take-away
Subpar productivity in Turkey generally stems from three problems: a
large informal economy, macroeconomic and political instability, and
government ownership. Reformers should focus their efforts on these
three large arenas.
Pull down
.A Making a market in talent
.B The people problem in talent management
.C Creation nets: Getting the most from open innovation
.D Measuring performance in services
.E The link between management and productivity
.F Competitive advantage from better interactions
.G Creating a knowledge culture
Graphics search
http://www.mckinseyquarterly.com/home.aspx
Search: Performance management
• Page 3, creating a knowledge culture