PwC India to invest ₹600 crore in people development in next 3 years
Bengaluru, April 17, 2023
The consulting firm is starting a special celebratory gift programme for its employees and has set aside ₹150 crore for this payout
PwC India on Monday said it would invest over ₹600 crore in the next three years towards the holistic growth, development and well-being of its employees in the country.
The past three years have had a dramatic effect on people, and as a result, individuals were now reassessing what they want to do and how they want to work, the consulting firm said in a statement.
Appreciating this fundamental workforce shift, the firm said it would invest ₹600 crore through its new People Experience Framework, where its people would be able to experience infinite opportunities.
Sanjeev Krishan, chairperson, PwC in India, “Our new People Experience Framework will bring in an 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.’‘
“PwC was wanting to enable limitless possibilities and infinite experiences for its people and the firm was in the process of facilitating ease of working for its people by creating an enabling ecosystem that invests in digital and technology to simplify how people experience processes,” he added.
The new people framework will enable 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, and finding work that aligned with their purpose and values, according to PwC.
PwC India has also announced a non-residential executive MBA programme for regular full-time employees up to the Director level, wherein the firm will sponsor 75% of the course fees for employees (up to ₹10 lakh per person). In addition to this, sponsorship of self-initiated learning certifications has been increased to ₹1 lakh from ₹30,000 earlier, as per the firm.
The firm has announced an increase in medical coverage for every employee, their spouse and two children to ₹20 lakhs, up from ₹5 lakh.
Apart from this, a Recharge and Rejuvenate policy has been introduced so that each employee is entitled to a minimum downtime of 10 days in a year. Paternity leaves have also been enhanced to 30 days from a fortnight.
PwC India also initiated a special celebratory gift for its employees to commemorate the 150 years of existence of its member firms in India, and ₹150 crore has been set aside for this payout.
Padmaja Alaganandan, Chief People Officer, PwC India said: "Our people are at the core of everything we do as a firm. Just as we are relentlessly client-focused, we will continue to invest in our people."