No Match Found
The past three years have had a dramatic effect on people, and as a result, individuals are now reassessing what they want to do and how they want to work. This fundamental workforce shift extends beyond whether people are physically convening in an office or not. People are seeking opportunities that allow them to live their lives how they want to, including meeting the needs of their families, finding work that aligns with their beliefs and creating an environment in which they are building the skills needed for the future. While these needs are universal, what they mean to an individual is personal, underscoring the need for choices.
Before the disruption of the pandemic, PwC had already made significant investments in new skills and rethinking how we demonstrate value to our people and clients. Today, the pandemic and resulting workforce transformation has shown us that we need to accelerate our plans and create new opportunities for our people with a first-of-its-kind people strategy.
As our firm has changed with the world around us, we want to confirm our people strategy is also evolving and surpassing the expectations of our people. To set our people up for success, it is important that they are fulfilled, happy, learning and growing with our clients and firm.
To surface what matters most to our people, we embarked upon a listening journey over the course of the last year. In many of our sessions, we heard loud and clear that our people’s needs mirror what organizations are hearing across the world: people want more flexibility and choice when it comes to where, when and how they work, as well as enhanced benefits and development opportunities. With that in mind, I knew we needed to have the courage to fundamentally rethink our value proposition for our people experience at the firm and not just nibble around the edges.
I am so proud to announce that PwC is launching a reimagined people experience, called My+, that is centered around choice and flexibility, and tailor-made to further support development, well-being, purpose and personal ambitions. It’s our biggest and boldest reimagination of our people experience, and over the next three years, we’ll invest $2.4B to bring this personalized experience to life. My+ will provide our people the power to build personalized careers, from choosing the types of assignments they work on, to the hours they work, to where they work and the benefits they need. Our commitment, the largest in professional services to date, lays the foundation for a future where our people can make customer-like choices, supported by consumer-grade technology, to build a personalized career experience at every stage of their life.
My+ is made up of four key pillars: well-being, total rewards, leadership development and a network for employees and alumni alike. Over the next three years, we will be redesigning our business process and implementing a number of changes—some happening immediately starting in our next fiscal year, and others continuing to build throughout the course of the journey—to bring our vision of My+ to life. Here’s where we’re headed and the immediate next steps we will take in our transformation:
1. Well-being: We’re reimagining a future where well-being is front and center, so our people will be able to choose where, when and how much they work, all enabled by technology. You may remember that last fall PwC was the first major professional services firm to offer and formalize the option to work virtually to all 40,000 client service professionals. In the first year of our transformation, we’ll continue to expand upon our flexibility options, from reduced schedules, 20% pay leaves of absence and the potential to work from anywhere, even internationally.
We also know the value of protected time and when we take time off together, we can support each other to fully unplug and recharge. So, starting this year in the US, we’re adding an additional week-long firmwide shutdown, giving our people two shutdowns a year, the first in July and the second in December. Making sure all time off is protected, uninterrupted and that no vacation days go unused is also extremely important, so our leaders will be expected to support that happening.
2. Total rewards: We will continue to evolve our benefits to meet the needs of our people, so they have options for every stage of life to support their physical and mental health, financial, social, spiritual and emotional well-being. In the first year of our transformation, we’re expanding parental leave for all parents from eight to 12 weeks, giving them additional time to bond with their newborn, newly adopted or foster care child (as a father of six, I know how important this is!). We also are upping our commitment to support mental health by doubling the number of free visits with a mental health professional a year, from six to 12 visits, and increasing the reimbursement amount for out-of-network mental health support from 70% to 90%.
3. Development: We will elevate leadership and coaching skills for everyone at all levels—enabling our people to live our values in every interaction, with clients, our communities and one another. In the first year of our transformation, we will offer quarterly sessions featuring external speakers and skill-building opportunities to emphasize the “human dimensions'' of leadership. These sessions will promote intersectionality and build on our culture of belonging, while teaching skills like building trust, active listening, empathy and constructive feedback. Our kick-off sessions will include a focus on development skills for managers and above. We also have already launched an Inclusive Mindset badge for everyone at the firm to build on their inclusive leadership skills—such as trust, empathy and listening.
4. Always a PwCer: Our people feel an unwavering connection to the firm, even after they leave. We will invest in the incredible community of individuals who have spent a portion of their career at PwC, so we can continue to build relationships with them and offer resources throughout their career. In the spirit of choice, we are committed to helping our people pursue professional paths that excite them and support their well-being, development, sense of purpose and ambitions—whether that’s inside or outside our firm.
Our people are the heartbeat of our firm, and that will never change. Just as we are relentlessly client focused, we are also unwavering in our ongoing investment in our people. To deliver on our purpose—to build trust in society and solve important problems—we will continue to build trust within our own organization. The most meaningful workplace experiences are those that are created with people’s interest top of mind. It is extremely important for people to be seen, heard and valued; for people to be able to make choices based on their preferences, sense of purpose and ambitions.
Our people strategy will transform how we work over the coming years, and change of this scale is not always comfortable or easy. These changes, however, will help us create a culture that sets us apart from any other firm, helping us to attract and retain the best people in the market.
That is the type of experience we’re working towards at PwC. I couldn’t be more proud of our people, and the bold steps we are taking.
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