PwC enhances effort to hang on to top staff
To enhance its approach to compensation and development, PwC has added several programs to demonstrate the long-term value of building a career at the professional services firm formerly known as PricewaterhouseCoopers.
Clearing up compensation. PwC lets employees in on how competitive their salaries are, how the firm sets pay, available career opportunities and how to increase their earning potential. The firm also shares financial results so employees better understand the link between pay and performance.
Recognizing good work. Career milestone awards recognize employees’ efforts and contributions at various stages in their careers. For senior associates, PwC developed a “Leadership Development Experience” that helps participants develop personal leadership skills, strengthen professional networks and focus on professional and personal goals. The awards program adds a bonus of 25% of salary in the first year following a promotion to manager.
Career recharger. New senior managers and director-level staff can take a four-week paid sabbatical, cobbled together from one week of the employee’s allotted vacation time and three weeks intended as a “gift of time” from the firm. Sabbaticals can be devoted to improving professional skills, spending time with family and friends or simply kicking back and relaxing.
Contact: Caroline Nolan of PwC US, (202) 312-7510.
