Helping clients build trust with their stakeholders and deliver sustained outcomes
The New Equation focuses on two interconnected needs that clients face in a world of technological disruption, fractured geopolitics, climate change and the enduring impacts of the COVID-19 pandemic.
The first is to build trust. Our approach to building trust is designed to meet rising expectations of transparency and stakeholder engagement. It recognises that reporting and compliance are just one link in a chain that includes organisational culture, executive mindset, aligned standards, certified professionals, stringent controls, tailored technologies, and appropriate governance. It continues to place a commitment to quality at its core.
The second is to deliver sustained outcomes. Our approach is focused on the outcome that effort seeks to achieve. We then mobilise expertise in strategy, digital and cloud services, value creation, people and organisation, tax, legal and compliance, amongst other areas to deliver the agreed outcomes.
We believe that the successful organisations of the future will be the ones that create a virtuous circle between building trust and delivering sustained outcomes.
Solving the problems of the future requires teams of solvers - each with real depth in their area of specialism and together combining all the skills needed to solve new and complex challenges. Teams powered by technology, and with the flexibility to identify exactly the right platform or product for the task at hand. And of course, diverse in terms of background and perspective. Bringing together those combinations of capabilities - auditors and ESG experts, tax professionals and tech professionals - is the most secure way to build trust and deliver sustained outcomes.
We are creating 100,000 net new jobs over five years to deepen and expand our capabilities so we can continue to bring together the unique combinations needed to help clients answer the expectations of their stakeholders and society.
To meet the needs of today and tomorrow, we are:
Building new Centres of Excellence for specialists on key ESG topics, as well as a global ESG Academy which will enable all of our partners and staff across the network to integrate the fundamentals of ESG into their work.
Investing to enhance quality across our businesses, including US$1bn to accelerate deployment of technology that further automates the implementation of quality frameworks in audit, as well as build the delivery model for the audits of the future.
Creating Leadership Institutes. The first one is headquartered in the United States, and will empower more than 10,000 of today’s and tomorrow’s C-suite leaders, executives, and Board members to build trust. Meanwhile, the Asia Trust Leadership Institute will be officially launched in FY23.
Continue to rapidly expand our use of cloud, AI, virtual reality and other emerging technologies to deliver insight and drive competitive advantage for clients.
“We want our people to be the most sought after in the market, because they have the technical, digital and human skills needed to build trust and deliver sustained outcomes.”
We are continuing to attract diverse talent, supported by expanded flexible and remote working as well as progressing the previously announced commitment to upskill our people.
Based on the recognition that business has a key role to play in tackling the climate crisis, we’re mobilising around our commitment to reach net zero by 2030, which involves transforming our business model to decarbonise our value chain.
We’re also increasing transparency around our own operations, through expanded reporting based on the World Economic Forum’s Stakeholder Capitalism metrics, as well as the recommendations of the World Business Council on Sustainable Development.
Global Markets Leader, PwC United Kingdom