PricewaterhouseCoopers (PwC) has decided to invest heavily on its workforce. To be precise, it will pump in about $2.4 billion into the betterment of its employees over the next three years. As part of this, it is making it mandatory for employees to take a vacation twice a year. Therefore, the Company’s offices will be shut for a week each in July and December so that its 55,000-strong workforce can take time off. This vacation will be in addition to the regular time off or leaves.
Employees can also look forward to improved employee benefits and pay. A five per cent increment will be granted to all employees across the Company, while the annual increments in basic salary will be implemented in July.
Employees can also expect access to an upgraded and more flexible learning and development (L&D) system. As a result, they will be able to better control their careers and choose the domains in which they wish to work.
Parental leave will be increased from eight to 12 weeks. Employees can also visit mental health professionals 12 times a year instead of the earlier six, for free, and obtain counselling. In case they consult someone outside the Company’s panel, up to 90 per cent of their bill will be reimbursed.
The consulting firm hopes to offer an enhanced employee experience to its workforce and not just better compensation.