PwC's My+ Program Intends to Enhance Its Employees' Experience

PwC, one of the largest professional services companies, announced My+Opens a new window , a $2.4 billion investment in a three-year journey to enhance its employees’ experience. The program and investment are expected to allow PwC’s employees to have work flexibility, access expanded mental health and well-being benefits, and support to enhance their careers. It is also expected to help them build a personalized experience throughout their career while making adjustments as their lives evolve.

See more: How HR Leaders Can Support New Employee Experience Transformations

The Four Pillars of My+ Program

My+ has four key pillars: well-being, total rewards, development, and continuous support.

Well-being: Well-being focuses on where, when, and how much the company’s people work. This involves flexibility and protected time. As part of flexibility, the company will continue to offer an option to its employees to be in-person or work in a virtual or hybrid mode. The company will also extend several other benefits. As part of expanding protected time, the company will provide two-week-long company-wide shutdowns each year in the U.S.
Total rewards: The company plans to make it possible for staff members to access and choose from a variety of employee benefits. PwC’s staff is also expected to have the ability to select from the options that support different career stages. These benefits and options involve a new benefits platform, more frequent reviews and adjustments in compensation, extended parental leave from eight to 12 weeks, and expanded mental health benefits.
Development: PwC announced that it would offer more learning and development opportunities and elevate coaching and leadership skills for its employees at all levels. Employees will also have the ability to work on different teams and assignments of their interest. The company will be launching a new learning platform. Further, it also intends to provide an inclusive mindset badge and feedback tools.
Always a PwCer program: The company intends to provide continuous support to its employees to pursue professional paths that interest them as well as support their development, well-being, and ambitions irrespective of whether they are still part of the company or they have left. Â

The Key Motivator Behind the Program

The employer-employee relationship has started evolving over the last three years. The COVID-19 pandemic heightened several employee challenges, such as mental stress, diminished work-life balance, personal finance challenges, and the need to upskill to stay relevant in a transformed business world. The Great Resignation further highlighted the need for employers to take immediate action, such as offering work flexibility, providing appropriate benefits, supporting employee career development, and providing mental health support, if they had to improve their employees’ experience and retain them.

PwC’s program and investment seem to be focused on improving the overall employee experience.

Talking about the program, Yolanda Seals-Coffield, deputy people leader, PwC, said, â€œThere has been a fundamental shift in the relationship between employees and employers. We can’t sustainably compete on compensation and benefits alone. We must take bold action â€” to provide a personalized career experience, based on choice, that engages our people to stay longer and inspires top talent to join us â€” along with developing business professionals to lead our teams and serve our clients.â€

See more: HR Technology: Improving Experiences and Performance of a Global Workforce

Our Take

With more workers worldwide airing their concerns regarding work flexibility or physical, mental and financial well-being, companies need to listen to them and respond accordingly. PwC’s investment shows a step in the right direction. It indicates that the company wants to listen to its people’s concerns and address them while enhancing the overall employee experience. The â€œAlways a PwCerâ€ program specifically indicates that the company is empathetic and supportive of people who want to pursue their ambitions and career paths.Â

Ultimately, in the present times, when organizations are finding it difficult to retain employees, positive employee support and experience can lead to an overall improvement in productivity, happy customers, improved revenues, and a competitive advantage in the market.

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