PricewaterhouseCoopers (PwC), the multinational professional services network of firms, has announced that it will have 40,000 employees from its US workforce working from home permanently. The accounting and consulting firm’s entire client services team in the US will work virtually. With this move, PwC has become one of the biggest employers in the world to commit to full-time remote operations.
With around 55,000 employees in its US at the moment, this decision will benefit a considerable chunk of its team.
According to Yolanda Seals-Coffield, deputy people leader, PwC, the firm is the first in the industry to implement full-time virtual work for client services employees. The HR at PwC’s and legal operations team already had the liberty to opt for full-time virtual work.
In a memo to its employees, PwC states that new policy is aimed to attract and retain talent, even while promoting diversity.
However, the announcement does have an asterisk to it. The employees who opt for virtual or remote working from a lower- cost location will have to take home decreased pay. Such remote workers will also be required to report to office three times a month for in-person client appointments, team meetings and virtual sessions. The Company intends to use its office spaces differently and in more collaborative ways. Further, in teams where people choose to be in office regularly, complete remote operation will not be accepted.