Staff lounge at PricewaterhouseCoopers
Chosen as one of Canada's Top 100 Employers and Greater Toronto's Top Employers for 2013:
By Richard Yerema and Kristina Leung, Mediacorp Canada Inc. staff editors
(Oct 9, 2012)
Some of the reasons why PricewaterhouseCoopers
was selected as one of Canada's Top 100 Employers for 2013
- employee enjoy a busy social calendar courtesy of local social committees that are dedicated to creating a social work environment and planning numerous social events throughout the year
- supports employees who are new mothers, fathers, and adoptive parents with maternity and parental leave top-up payments as well as an exceptional adoption subsidy (to $10,000) to help cover the costs of adoption
- encourages ongoing employee development with subsidies for tuition and professional accreditation, in-house and online training, financial bonuses for some course completion and a formal mentoring program
- helps employees prepare for life after work through retirement planning assistance, phased-in work options and matching RSP contributions
- also offers a number of great financial rewards including signing bonuses for some positions, generous year-end bonuses and a profit-sharing plan that is available to all employees
- host employee-led environmental committees at offices across the country that are comprised of over 100 employee volunteer who work to promote environmental awareness and organize green activities across the country
- for any hockey addicts the firm even hosts a unique national "PwC Hockey Tournament" with office teams gathering every spring for friendly competition and the chance secure bragging rights for the year
PricewaterhouseCoopers LLP (PwC) provides industry focused assurance, advisory and tax services in the areas of corporate accountability, risk management, structuring and mergers and acquisitions, and performance and process improvement.
The Toronto-based firm is the Canadian member firm of New York-based PricewaterhouseCoopers International Limited. With roots dating back to the 1840s, the New York-based PricewaterhouseCoopers is one of the world's leading professional services firms with over 161,000 personnel at offices in over 150 countries. In Canada, the firm has been serving clients for over a century and today has offices across the country.
Industry: Offices of Certified Public Accountants.
Major Canadian hiring locations: Toronto ON, Montréal QC, Vancouver BC, Calgary AB.
Revenues: $1,180 million.
Full-time at this location: 2,382.
Full-time employees in Canada: 6,527.
Full-time worldwide: 168,710.
New jobs created in Canada last year: 272.
Part-time employees in Canada: 234.
Workforce engaged on a contract basis: 3.8%.
Number of applications received at this location last year: 3,082.
Average age of all employees: 36.
Longest serving employee: 44 years.
PricewaterhouseCoopers' physical workplace is rated as very good. PricewaterhouseCoopers' downtown Toronto head office is located in one of the city's landmark skyscrapers, offering great views of Lake Ontario as well as direct access to the city's underground walking network. The firm is currently planning to move into a custom built downtown office building in the fall of this year (2011). As part of the planning process, over 40 employee volunteers from all levels and positions through the firm have participated in focus groups to discuss and provide feedback on a range of design considerations, from work space configurations to environmental considerations to the design of common spaces and amenties. The new building was designed and built with the goal of achieving the prestigious LEED Gold designation. Inside the company's current head office, employees can take advantage of an employee lounge (with comfortable seating, television, video games, foosball table, magazines, daily newspapers, free herbal teas, hot cocao, regular and cappuccino-style coffee); nap room; religious observance room; secure bicycle parking; subway access; kitchen areas; free hot and cold beverages; nearby fitness facilities (with subsidized memberships to $1,200 annually); and a variety of great restaurants within walking distance.
Work Atmosphere & Communications
PricewaterhouseCoopers' work atmosphere is rated as exceptional. Head office employees at PricewaterhouseCoopers can take advantage of an onsite concierge service and enjoy business casual dress; casual dress Fridays; can listen to music while working; employee sports teams; organized social events. The company's long standing social committee organizes a variety of fun events throughout the year. In addition, local office social committees operate with a $300 to $350 per person budget through which to plan social events. Across the company (and country), employees enjoy a variety of fun events, including billiards nights, boat cruises, golfing, ski days, spa days. Each office also celebrates the Christmas season with cocktail parties, dinners and dances, as well as separate parties for employees' children.
Across the country, PricewaterhouseCoopers also sponsors a variety of employee sports teams, from hockey to ultimate frisbee teams. In a unique annual event, the firm sponsors the national PwC Hockey Tournament with teams gathering every spring for friendly competition and the chance secure bragging rights for the year, along with the opportunity to meet and socialize with colleagues from across the firm. In addition, PwC manages employee advisory committees at offices across Canada to keep the lines of communication open throughout the year . These committees meet regularly to discuss local issues and provide direct feedback to managers. The firm also keeps employees informed about new developments and captures valuable feedback through a company newsletter; corporate intranet site; email suggestion box.
Financial Benefits & Compensation
PricewaterhouseCoopers' financial benefits are rated as above-average. To keep salaries competitive the company participates in outside salary surveys every 12 months. Individual salaries are reviewed every 12 months. The firm offers a group RSP (with a non-registered savings component) that allows employees to contribute and receive a matching contribution to 5% of their salary, with matching employer contributions up to 50 cents for each additional employee dollar contributed. Signing bonuses for some employees; year-end bonuses for all employees; generous year-end bonuses (to $142,000), depending on the position; defined contribution pension plan with employer contributions (up to 3.5% of salary); matching RSP contributions (up to 2.5% of salary); new employee referral bonuses (to $7,000 for some positions); life & disability insurance; subsidized home Internet access; retirement planning assistance; phased-in retirement work options; discounted auto insurance and auto lease rates; discounted home insurance; out-of-town assignment bonuses (to $750); free flights for significant others when on long assignments.
Health & Family-Friendly Benefits
PricewaterhouseCoopers' health and family benefits are rated as above-average. PricewaterhouseCoopers' health benefits plan is managed by Sun Life. The health benefits plan is flexible, meaning that employees can tailor individual plans to their personal circumstances. Beyond the basic plan, employees can pay additional premiums to increase their personal and family coverage. Employees who select minimal coverage can receive their unused health credits as taxable income. As part of the health plan, the employer pays 100% of the premiums. The health plan is a flexible plan with adjustable premiums and coverage levels. Employees who work 15 hours per week receive coverage. There is no waiting period before coverage begins. Family coverage is available on the health benefits plan. Retiree coverage is also available on the health plan, with no age limit. The basic plan includes routine dental; restorative dental; orthodontics; eyecare ($250 every 2 years); traditional medicine coverage; alternative medicine coverage; employee assistance (EAP) plan; healthclub subsidy (to $2,000 each year); medical equipment and supplies; physiotherapy; massage therapy; homecare; travel insurance. As part of a broader initiative focused on employee wellness, PwC operates a dedicated wellness program that includes its own "Wellness@PwC" website as well as a series of printed information cards to inspire and help educate employees about adopting healthier lifestyles. The company's family-friendly benefits include; maternity top-up payments (to 100% of salary for 17 weeks); parental leave top-up for new fathers (to 100% of salary for 3 weeks); parental leave top-up for adoptive parents (to 100% of salary for 3 weeks); adoption assistance subsidy to $10,000 per child; health benefits during maternity and parental leave; offsite daycare subsidy to $320 per child. Additional family-friendly benefits include; compassionate top-up payment (to 100% of salary for 2 weeks) while caring for a family member; flexible working hours; shortened work week (fewer hours with less pay); compressed work week; telecommuting; reduced summer hours program; job-sharing; an optional extra week of parental leave (with a 67% top-up payment) for new fathers and adoptive parents.
Vacation & Personal Time-Off
PricewaterhouseCoopers' vacation and personal time-off are rated as above-average. New employees receive 3 weeks of vacation allowance after their first year. Vacation increases after 10 years on the job. Long-serving employees receive a maximum of 5 weeks of vacation each year. Employees receive 15 paid sick days every year. Employees can schedule 9 personal days off each year, as needed. Employees receive 2 personal days off, as scheduled by their employer. Employees can also apply for an unpaid leave of absence. All employees also have the option to bank and save additional vacation days. (Manager level and above employees start at 4 weeks paid vacation).
PricewaterhouseCoopers' employee engagement program is rated as exceptional. Employees receive individual performance reviews every 6 months. Managers receive training in how to conduct effective performance reviews. Performance feedback is also solicited from co-workers and other managers familiar with each employee's work. As part of the review process employees can provide confidential feedback on their manager's performance. Exit interviews are provided for departing employees. The firm recognizes top performing employees though a couple of generous recognition awards programs. The "CEO Award" is an employee nomination program that recognizes exceptional individual and team performance -- with individual awards to $10,000 and team awards up to $25,000. PwC's new "Marquee" rewards program acknowledges exceptional performance through a points program (called Acclaim) that lets emloyees cash-in their points for selected merchandise, and a cash bonus program (called Spotlight) with over $712,000 distributed to 289 top-performing employees last year. PricewaterhouseCoopers hires an outside consultant to conduct confidential employee satisfaction and engagement surveys. (These surveys are held every 12 months).
Training & Skills Development
PricewaterhouseCoopers' training and skills development program is rated as exceptional. Employees receive tuition subsidies for courses related to their position. (Employer covers up to 100% of tuition). Employees may also receive tuition subsidies for courses unrelated to their current position. (Employer covers up to 100% of non-related tuition). PricewaterhouseCoopers also provides subsidies for professional accreditations; formal mentoring program; financial bonuses for course completions; career planning services; in-house training programs; online training programs; online employee skills inventory; new employee orientation program; formal management training program. In addition to receiving paid study leave days, employees who successfully complete their uniform Final Evaluation (UFE) receive five paid days off -- top performing employees have the opportunity to receive generous bonus payments, from $3,000 for those who make the honour roll list to $6,000 for top regional scores and $10,000 for the highest national scores.
PricewaterhouseCoopers' community involvement program is rated as exceptional. PricewaterhouseCoopers actively supports a variety of local, national and international charitable initiatives. Employees take part in the selection of charitable groups assisted each year. Employees receive paid time off to volunteer with their favourite charitable organizations. As part of this program, employees receive 1 paid day off to volunteer. Last year, employees donated over 17,100 hours volunteering with charitable projects. Approximately 1,100 charitable and community organizations were supported last year. Across the country, PwC encourages employee volunteerism through several programs. The company sponsors a Team Volunteering Program where employee teams volunteer for a full day with various charities across Canada. Through the Volunteer Grants program, PwC encourages employees to volunteer and apply for grant money and, every year employees from offices across Canada are also recognized by their peers through through various awards ceremonies. The firm also reaches out to new charities through a unique Volunteer Education program that invites charities to come to their offices and host information seminars about themselves.
PricewaterhouseCoopers also has undertaken numerous initiatives to reach the achievable goal of turning environmental best practices into everyday practices across the firm, from tracking energy use and measuring its carbon footprint to updated product procurement policies to in-house waste reduction and energy use strategies. In support of its numerous intiatives, PwC also has employee-led environmental committees that promote environmental awareness and organizes green volunteer activities across the country -- the firm even hosts a Green Week every year to promote environmental awareness and encourage sustainable lifestyles at the office and at home. 3.13.
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