Source: PwC’s 2023 Global Workforce Hopes & Fears Survey of 53,912 workers across 46 countries and territories

June 2023
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 Index

Topic Slide
Workforce distribution based on generation within a
3-4
PwC Team
Process and Outcome Driven job roles in PwC 5
Performance Management System in PwC – process
6-8
and its Pros & Cons
Compensation Strategy in PwC 9-10

Source: PwC’s 2023 Global Workforce Hopes & Fears Survey of 53,912 workers across 46 countries and territories 2 June 2023
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 Workforce distribution based on generation within a PwC Team

Generation and job level wise distribution of workforce in the Cloud technologies team of PwC
Source: PwC’s 2023 Global Workforce Hopes & Fears Survey of 53,912 workers across 46 countries and territories 3 June 2023
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 Workforce distribution based on generation within a PwC Team
• The charts in the previous and current slide show the team structure of the Cloud
Technologies team under Consulting practice of the Advisory LoS. A similar
structure can be seen in most teams in PwC. Generation wise distribution of
workforce in a PwC team
• From the information seen in both the charts, we can infer that: 4%

 Although the Gen Z have entered the workforce recently (total experience < 4
years), they form almost 40% of team. This number will increase in the
coming years as PwC actively hires young talent through campus recruitments
39%
every year.

 The Millennials (Gen Y) are highest in number (close to 60%) and can be seen
in most job levels starting from Associates up to Directors. This number will
reduce in the coming years as more Gen Z enter the workforce. The earliest of
the millennials are currently at Senior Manager and Director levels while the 57%
rest come under the subsequent designations.

 The Gen X which form a smaller fraction of the workforce (< 5%) are seen in
the middle and top management positions. This number too would reduce in
the coming years. Gen X Gen Y Gen Z
 Baby Boomers (>57 years old) would most likely be in top leadership roles
and will shortly retire from the workforce completely.

Source: PwC’s 2023 Global Workforce Hopes & Fears Survey of 53,912 workers across 46 countries and territories 4 June 2023
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 How Process and Outcome Driven are the various job roles in PwC?
The below chart given a rough estimation of how process driven and how outcome driven the various job roles in PwC are.

Analysts
Consultants
Senior Consultants
Project Managers
Directors and Partners
Advisory

Contract employees
Cyber security teams
Directors and Partners
Tax & Assurance
Chartered Accountants
Administrative staff
HR teams
Finance teams
Risk and Legal teams Internal Firm Services
IT support team
Ethics and compliance teams
Branding and PR

Column1 Process Driven component

Source: PwC’s 2023 Global Workforce Hopes & Fears Survey of 53,912 workers across 46 countries and territories 5 June 2023
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 Performance
Goal Setting
management cycle • Set performance and
development goals

in PwC • SMART goals

• ‘What’ and ‘How’ aspect
of performance

The three steps approach

Annual Review Mid-Year Review

• Self-assessment, career coach • Review goals set previously
assessment and discussion • Review continuous feedback
• Calibration/Moderation process
received
• Discussion 1 – performance
• Provide and receive feedback
feedback and review
discussion, Input for on ‘what’ and ‘how’ of
Development Plan for next year performance
• Discussion 2 – Total Rewards • Identify way forward and
development opportunities

Source: PwC’s 2023 Global Workforce Hopes & Fears Survey of 53,912 workers across 46 countries and territories
6 June 2023
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 Performance rating system – 5 point
Impact Tier 1 / Rating 1

• Impact and contributions during the performance year must significantly exceed the expectations from the role and the agreed
performance goals.
• Recognised as a role model in demonstrating all PwC Professional attributes and as a leader within the team or market.

Impact Tier 2 / Rating 2

• Impact and contributions during the performance year must exceed the expectations of the role and the agreed performance goals.
• Demonstration of the PwC Professional attributes to the clients and the people must exceed expectations defined for the grade.

Impact Tier 3 / Rating 3

• Impact and contributions during the performance year must consistently meet the expectations of the role and the agreed
performance goals.
• Demonstration of the PwC Professional attributes to the clients and the people must meet the expectations defined for the grade.

Impact Tier 4 / Rating 4

• Impact and contributions during the performance year partially meet the expectations from your role and the agreed
performance goals.
• Demonstration of the PwC Professional attributes to the clients and the people partially meet the expectations defined for the grade.

Impact Tier 5 / Rating 5

• Impact and contributions during the performance year did not meet the expectations of the role and the agreed performance goals.
• Demonstration of the PwC Professional attributes to the clients and the people did not meet the expectations defined for the grade.

Source: PwC’s 2023 Global Workforce Hopes & Fears Survey of 53,912 workers across 46 countries and territories
7 June 2023
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 Pros and Cons of rating system of PwC
• The performance rating scale (1-5) is a
short one (not ideal for a huge team).

• Sometimes there is a misalignment of

individual KRAs with the
Business/Line of Service KRAs.

• Absence of a review forum after

• The performance framework ratings are given.
is both process and outcome
driven, catering to the variety of job • The performance reviews scheduled by
profiles. managers are more of counselling
(reactive/specific) and less of coaching
• The KRAs and KPIs are clearly (proactive/holistic).
defined
• Often there are certain expectations
• The choice (forced bell curve) of from an employee even though they
the performance evaluation are not included in the KRA and if not
framework is relevant since most properly executed they might impact
goals are objective based and team the rating.
size is very big.

Source: PwC’s 2023 Global Workforce Hopes & Fears Survey of 53,912 workers across 46 countries and territories 8 June 2023
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 Compensation Strategy in PwC

Base pay: While the defined reference salary (captured through compensation surveys and market intelligence on
competition) is a primary driver for base pay, the individual's impact tier/performance rating, promotability, business
performance, and overall affordability will also be key determinants in arriving at the revised pay.

Variable pay: Variable pay will depend on the firm’s, LoS's, team's, and the individual’s performance. The final
budget and individual impact tier/performance ratings will drive the last variable payout.

Promotions: Individual readiness and position availability will drive the final promotion of the employee. The
readiness of the employee is based on consistency of performance, capabilities demonstrated at the current
management level relative to the PwC Professional framework and potential to deliver as per the expectations at the
next management/job level. Business pyramid and growth plans will drive position availability. While evaluating
individual readiness, the promotion panels should be diverse and also have a person with Inclusion Conscience.

Source: PwC’s 2023 Global Workforce Hopes & Fears Survey of 53,912 workers across 46 countries and territories 9 June 2023
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 Compensation Strategy in PwC

• Total base pay comprises the following components:

Component Value

Basic salary 40 % of total base pay

House rent allowance (HRA) 50% of basic salary

Employer’s contribution to the Provident Fund as

12% of basic salary
per the Employee Provident Fund Act, 1952

Reimbursable Flexible Benefits (RFB) 35.2% of total base pay

Unallocated RFB (Reimbursable Flexible Benefits) amount is paid as ‘Special allowance’

and will be paid as monthly taxable component

• Variable pay:
 Variable pay or Bonus is a function of the rating received during year-end performance review.
 The variable pay contribution in the total pay of the employee increases with the job level.
 This indicates that with increasing job level, work becomes more outcome-driven.

Source: PwC’s 2023 Global Workforce Hopes & Fears Survey of 53,912 workers across 46 countries and territories 10 June 2023
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Thank you