Ways of working
Midcaps carry a third of GDP. Productivity is still only half of large firms.
McKinsey defines midcaps as companies with $200 million to $2 billion in revenue. Its economic-weight figures describe that population; the productivity comparison covers small and midsize businesses more broadly. Broad workforce involvement is associated with stronger transformation outcomes, not a guaranteed uplift.
Mixed
Outcome we help: Stop mid-market transformations that live only in decks. Design decision rights, ownership and a first deliverable sized for your team, not a big-firm army.
What the report found
Half
Productivity of small and midsize businesses compared with large companies
Opening economic context: productivity comparison
50,000+
Midcap companies worldwide, defined as $200 million to $2 billion in revenue
Opening paragraph: midcap definition and population
More than 40%
Share of the global workforce represented by midcaps
Opening economic context: workforce contribution
About one-third
Midcap share of GDP in most economies
Opening economic context: GDP contribution
4.5x
Likelihood of successful transformation programmes when midcaps involve a broader cross-section of the workforce
Workforce involvement discussion: broader cross-section of employees
What it means for leaders
- Leaders can under-invest in operating redesign or buy a programme their teams cannot absorb, while decision rights and ownership stay thin.
What to do on Monday
Start here: Pick one live change in ways of working, Atlassian system of work or portfolio priorities. Name five people outside the leadership team who must own a piece of it. Write one outcome metric each by Friday.
Try it in an open workspace
Free tools with sample data. No account.
Source
Unleashing the power of midcap companies, McKinsey & Company, 2024. Read the original report