The holidays are right around the corner! During this time of Thanksgiving, we hope you have time to relax and be with family and friends.
In this edition we highlight Mike Fenlon’s recent comments on our Student Loan Paydown benefit. Other newsletter topics include discussion regarding PwC’s commitment to veterans, opportunities for your students in Tax, and our upcoming Aspire to Lead event on February 17. We also bring you several new publications impacting all lines of service, including the evolution of auditors, digital IQ, building trust using data, and more. In addition, we provide tools such as our Podcast series and our guide to tax and wealth management.
We know that student loan debt is a major societal issue and can create a significant financial burden for students as they launch their careers. Recent college graduates on average owe more than $35,000 and will take up to 21 years to pay off their loans. This news is especially troubling for minorities whose student loan debt is disproportionately steeper.
PwC’s Student Loan Pay-down (SLP) program can make a difference and helps address this challenge. Under SLP, participating associates and senior associates will receive $1,200 a year towards their student loans for up to six years or until their promotion to manager (whichever comes first). It has the potential to reduce their student loan principal and interest obligation by as much as $10,000 and shorten their loan payoff period by up to three years.
Student loan debt is an issue at the heart of PwC’s Purpose: to build trust in society and solve important problems. We’re proud to be one of the first in the industry to offer assistance with this type of benefit, which goes into effect for eligible PwC staff in summer 2016. To learn more about SLP, please see our press release and hear what our Deputy US Human Capital Leader, Mike Fenlon, has to say on his blog.
Take your career to centre stage. Lessons from the business of Hollywood.
Wednesday 17 February 2016 at 16:30pm GMT / 11:30am ET / 8:30am PT
As a leading professional services firm and employer, PwC has a unique role to play in the advancement of women as leaders. Since our premier Aspire to Lead webcast, PwC continues to engage students, clients, PwC staff and their families and friends from around the world in a dialogue on women in leadership. Throughout the years, we’ve received tremendous feedback. Ninety-four percent of participants say they are inspired to embrace their ambitions and pursue their goals as result of these webcasts.
We’re excited to announce our next global webcast in early 2016 broadcasting live from Hollywood, California!
The Academy of Motion Picture Arts and Sciences will host the event leading up to the Oscars. Panel members will include Dawn Hudson, CEO of the Academy, and Academy Award®-winning actress Geena Davis, founder of the Geena Davis Institute on Gender in Media. Known as the Institute, it is the only research-based organization working within the media and entertainment industry to engage, educate, and influence the need to dramatically improve gender balance, reduce stereotyping and create diverse female characters in entertainment.
During the webcast, Dawn and Geena will join other prominent figures to engage in a discussion moderated by Michael Fenlon, PwC Global Talent Leader. Attendees will receive insights and tips on how to best differentiate themselves, and achieve success in furthering their careers. In addition, participants will learn about PwC’s global development framework, which outlines leadership attributesfor keeping ahead in our rapidly-changing world. We want to include men in this dialogue as a part of our global sponsorship of the UN HeForShe initiative.
Join our live video-webcast which can be viewed from anywhere on 17 February 2015 at 16:30 GMT / 11:30am ET / 8:30am PT or via the replay. To learn more, visit pwc.com/aspire.
We are very pleased to be recognized once again as a Top 100 Military Friendly Employer. Last week, The PwC Charitable Foundation, Inc. announced a new grant to support veterans with a $1 million commitment to the Four Block Foundation, non-profit organization helping veterans find meaningful careers through transition support, rehabilitation services, and professional development. This announcement coincides with PwC US naming a Veterans Advocacy and Recruiting Leader. Chris Crace, a former Marine Corps Captain, will lead PwC’s national veterans’ advocacy strategy and talent acquisition activities across the firm.
PwC's Tax practice is the #1 Tax practice in the US in terms of revenue and growth. We offer a significant number of career opportunities to students entering the profession, and we are poised to continue our strong growth trajectory in the coming years.
Why PwC Tax?
Students can find more information at www.pwc.com/campus (What we do / Tax).
We know that today's auditors must embrace new technology-driven skillsets, and accelerate the pace at which other "expected" skillsets are developed. Certain skills-such as business acumen, critical thinking, and understanding market trends-have always been expected of more senior auditors. However, the marriage of technology and auditing, as well as the evolving structure of the audit team, makes developing these skills to a greater extent earlier in an auditor's career more important. It will be important for certain of these skillsets to be integrated into college and graduate school curricula so that accounting graduates can hit the ground running in their new jobs.
In the most recent edition of Point of View, PwC addresses the need to evolve these skillsets and how to help the next generation of auditors be successful.
We encourage you to use this publication as an educational resource to support our STEM recruiting efforts. To read Point of View "The evolution of auditors - how skillsets are changing", click here. To access more STEM resources, click here.
The global financial crisis and the subsequent prolonged periods of recession with sluggish growth led to a sharp rise in youth unemployment rates in many developed economies, but performance has varied considerably across countries.
To get a handle on these variations we have compiled a new Young Workers Index that captures a broad range of indicators relating to the participation of young people in employment, education and training for 34 OECD countries over the period since 2006. Switzerland, Germany and Austria come out top of these rankings for 2014.
We also estimate how much other OECD countries could boost their economies if they could match levels of performance in Germany, as well as considering how governments and businesses can work together to achieve these gains. Across the OECD, we estimate the potential long-term boost to GDP from such efforts at over $1 trillion, while for the UK the potential gain could be around £55 billion (3% of GDP).
To read our report and watch our video, click here.
PwC ’s 2015 Holiday Outlook offers a view into consumers’ mindset and likely shopping behaviors over the next few months, as well as into the expectations and planning strategies of retailers and manufacturers. Our national survey of 2,000-plus consumers as well as 230 retailers and manufacturers provides insights about: shoppers’ purchasing decisions, the factors driving those decisions, and current shopping channel trends. In this report, we analyze consumer-reported data— and overlay the findings with additional PwC research and analysis—to uncover key insights and implications for retailers and manufacturers.
To learn more, visit here.
Since 2007, our Digital IQ® Survey has asked one simple question: What actions can leaders take to ensure their digital investments deliver and sustain value?
To get to the answer, we studied the behavior and corporate performance of nearly 2,000 executives, drawn evenly from the technology and business sides of global organisations.
We analysed more than 25 attributes, spanning strategy, innovation, and execution to isolate the 10 attributes that correlate with stronger financial performance.
Download the full report here.
To better understand where organizations stand with their implementation of the new revenue recognition standard and the expected impacts and issues, PwC and Financial Executives Research Foundation (FERF) collaborated for the second year on a revenue recognition implementation survey.
Conducted during the summer of 2015, our survey explored executives’ perspectives on key considerations for companies implementing the new standard, from adoption method and overall readiness to accounting policy decisions, systems, controls, and process changes.
To read more, click here.
PwC professionals share perspectives on today's key regulatory, accounting and financial reporting developments. Providing insight using plain English to help you stay current in a rapidly changing business world. Busy financial executives can listen to episodes at their convenience via desktop computer or smartphone.
To learn more, visit here.
PwC’s 2016 year-end guide to tax and wealth management offers guidance for strategic tax planning, managing your portfolio, charitable giving, estate and gift planning, business succession planning and other topics.
To read more, click here.
This year, Strategy&, PwC's strategy consulting business, examined the R&D footprint of some of the world's top companies to understand how much they are spending on R&D, where and how that spend has shifted since our last study on this topic in 2008. We found that the globalization of R&D has become the norm and that the flow of R&D funds is shifting away from Europe and aggressively moving towards Asia. The Global Innovation 1000 studies of the past have long confirmed its not how much you spend, but how you spend it and now it is also where you spend it that determines your success.
To learn more, visit here.
Our Assurance practice plays a key role in delivering against our network purpose – ‘To build trust in society and solve important problems.’ This year, rebuilding public trust has remained a priority for many organisations. But we’ve found they’re also facing a new conflict: that as they innovate and grow in new and increasingly competitive markets, trust is being further eroded.
Watch Richard Sexton, PwC Vice Chairman, Global Assurance, talk about how PwC helps companies use data to build trust here.
We hope you find this information useful. Please contact us if we can be of assistance to you.
Best Regards,Julie Peters