PwC India to invest ₹600 cr over next 3 yrs towards employee wellbeing

PwC India on Monday said that the company is planning to invest ₹600 crore over the next three years towards the holistic growth, development and well-being of its employees through its new People Experience Framework. According to the company, the framework will enable employees to gain access to personalised opportunities that will allow them to live their lives how they want to, including meeting the needs of their families, finding work that aligns with their purpose and values, thereby creating an environment in which they are building the skills needed for the future. 

The decision was taken following a recently announced town hall in eight cities. “We want to enable limitless possibilities and infinite experiences for our people. Towards this, 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,” said Sanjeev Krishan, Chairperson, PwC India.

“Our people strategy will continue to transform how we work over the coming years, and while a change of this scale is not always easy, it will help us create a culture that sets us apart from any other firm, helping us to attract and retain the best people in the market. I couldn’t be more proud of our people and the bold steps we are taking,” adds Krishan.

According to PwC India, as part of the People Experience Framework, the company 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 up to ₹1 lakh from ₹30,000 before.

Earlier this year, the company said that it expects to grow its talent pool to 80,000 over the next five years. The company currently has a workforce of over 50,000 people in the country. PwC India has been steadily expanding its geographical presence in the country for several years.

In 2022 alone, PwC India opened three new offices in Bhubaneswar, Jaipur, and Noida to focus on hiring local, highly skilled talent.

As a part of its new global strategy, The New Equation, launched in 2021, the firm announced its commitment to furthering the country's economic development, harnessing the potential of the domestic market and creating more opportunities for society at large.

Notably, amidst funding winter, mass layoffs and mass resignations, organisations across sectors are resorting to employee-friendly strategies in order to retain talent. These range from ESOPs (employee stock ownership plans) to work-from-anywhere policies. Amidst the debate of moonlighting, companies such as Swiggy have also allowed their employees to pick up additional projects outside work.