The significant changes that have occurred over the past three years have caused individuals to rethink their career aspirations and work preferences. Recognising this fundamental shift in the workforce, PwC India has pledged to invest more than INR 600 crore towards the holistic growth, development and wellbeing of its employees.
Reportedly, this investment will be carried out through a new People Experience Framework, which was introduced recently along with its four key pillars:
Unlocking potential: One of the priorities of the company is to ensure that their team members find their careers fulfilling, including engaging work that challenges them professionally and aligns with the company’s greater purpose.
“Our new People Experience Framework will bring in increased emphasis on growth and development, customised rewards, benefits and well-being that are stitched into our daily experiences, and where we have the flexibility to support our people as their lives and needs shift over time,” said Sanjeev Krishan, Chairperson, PwC in India.
Accelerated learning: PwC India has committed to investing 1 per cent of its revenue in the learning and development of its employees, with an emphasis on building leadership and management capabilities, upskilling employees, and establishing a common minimum level of digital proficiency. Additionally, as a part of this effort, PwC India has introduced a non-residential executive MBA program for full-time employees up to the director level, with the company covering 75 per cent of the course fees up to INR 10 lakh per person, and increased sponsorship for self-initiated learning certifications to INR 1 lakh.
Environment that cares: To further strengthen the inclusive and diverse workplace that nurtures the holistic wellbeing of its employees, the company has also announced an increase in medical coverage and a special benevolent fund. Additionally, the company has also introduced a recharge and rejuvenate policy, where employees will be entitled to a minimum downtime of 10 days in a year and an enhancement of paternity leave to 30 days.
Inspiring communities: PwC India is focusing on inspiring communities by encouraging collaboration to build trust and deliver sustained outcomes. The company is investing in its PwC India Foundation and dedicating over 16,000 volunteering hours to support humanitarian, environmental, and educational challenges in India. Additionally, PwC India is recognizing 150 inspiring employees up to the director level with the Chairperson’s Award of INR 2 lakh per person.
Overall, the framework is built to offer endless possibilities for personal growth and development. Additionally, the company has committed to sharing the gains of growth with its employees by matching the percentage of overachievement of its revenue budget with a corresponding increase in the people budget. This will lead to an increase in the year-end bonus for employees as well.
With the aim to create an environment where employees can thrive both personally and professionally, the framework enables employees to gain access to personalised opportunities that allow them to live their lives how they want to, including meeting the needs of their families. This will also allow them finding work that aligns with their purpose and values, thereby creating an environment in which they are building the skills needed for the future.
Speaking of the new model, Padmaja Alaganandan, chief people officer, PwC India said, “Our new People Experience Framework will give our people greater personalisation within their career so they can grow and develop, and have access to #ExperienceInfinite opportunities, benefits and connections they need to maximise their journey at PwC.”
Krishan took pride in introducing such bold steps towards the transformation of their people’s strategy. He also mentioned that it’s going to help the company to create a unique culture, helping them to attract and retain the best people in the market.
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