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I don’t get why people have so many negative things to say about this on here- if you wanna save up your vacation to cash out when you quit, do it.
If you wanna take your time off and get an extra $250 for the week- do it
🤷🏻♀️ I guess you can’t please everyone.
Not everything that leadership does is purely short term profit driven, this seems like a great employee retention technique by trying to reduce burnout, I would love it if EY copied this initiative!
I think it will still depend on the company/Office culture. What if people start taking their PTO because of the new incentive and notice that the people that don’t take their PTO are getting paid more or are getting promoted faster? I think there is still TOO much focus on chargeable hours. You should still look at chargeable hours and if they hit their minimums and still get positive feedback from others they should get the same promotion or raise as someone who significantly surpasses the minimums. I’ve noticed that the more hours people worked, it usually meant a faster promotion and higher raises. I think if the focus was more on turnaround time, feedback from others, output of work and less on hours charged people wouldn’t feel the pressure to work so many hours and get burned out.
Is it true? Idk, never heard of this “Wall Street Journal” site. Not sure if they check facts.
Oh, for sure, CNN, MSNBC, network news, NY Times, WAPO, they all fact check, right? To quote your idiot president, “c’mon man”.
Why are ppl so glass half empty about this? I’m a partner. It’s not about the vacation liability on the balance sheet. It’s about caring about our people. It’s too bad ppl can’t see it for what it is.
EY 3 - in that last paragraph above, not seeing how the firm saved $1,600. If you take vacation, you’re getting paid for not working. If you don’t take vacation, and then leave, we pay you what we would have paid you if you took your vacation. It’s a push.
Ok now I’m confused. In all seriousness, didn’t you just equate this policy to “paying illegals not to cross the border” a few posts up?
Dropping this here..shady
Rising Star
To play devils advocate, if you don’t take your vacation you most likely have billable hours which the firm makes a multiple on. So no, they aren’t saving money when you’re on vacation. It’s costing them collections from clients.
It's true.
@pwc4 you can go negative within reason
P9 - no brain melt here my woke lib friend. Anyone with a brain doesn’t need Fox News to see the carnage the new administration has wrought. You really like his policies? Wait till your taxes increase - if you think hey no worries I make less than $400k, well then, you are the epitome of the clueless sheep who inexplicably though this idiot would be an improvement.
For your sake and society’s sake I hope you are a boomer. Who actually talks like this 😂
Our CEO got the idea from the numnuts in the White House...you might’ve heard he wants to pay illegal aliens to not cross the border.
All I did was quote the article YOU cited 😂
Is it me or is everyone really good at focusing on what’s wrong than what’s right? I’m a former Big 4 auditor turned public accounting tax. I felt I always looked at what’s wrong with everything since that was my job as an auditor. I personally think that Pwc got feedback from employees that they feel burned out and they noticed people weren’t taking vacations so they are trying to entice you even more as if taking a vacation wasn’t inventive enough. I see all the comments saying pwc is trying to go towards unlimited pto or they want to pay you less so you don’t “bank” your pto. I don’t see how any employees are in any worse situation than they were in before. If you want to maximize your pto so you get a big pto paycheck when you leave, you can still do that. If you wanted to take pto but were afraid to, now is even a better time to take time off. If you don’t like anything pwc has to offer or you still feel underpaid or under appreciated than find work elsewhere. I think the ultimate issue is that the culture of Big 4 is saying one thing on paper and expecting something else (ie 55 hour busy seasons really mean 80+ or you can take pto but still be available in case we need anything.
$250 for 40 consecutive vacation hours up to $1k/year
I would assume so
They are concerned with the vacation on the balance sheet
Whatever the motivations are, it’s a nice benefit. Whether it actually encourages staff to take vacation is another matter. Personally, I think the main hurdle to taking vacation is the fact that it is included in the denominator for utilization. I would rather not take a vacation then watch my utilization for the year trend downward, and I know a lot of colleagues feel the same since it is really the sole metric upon which we are judged.
Maybe I’m not understanding...
Scenario 1- take 1 week vacation: PwC pays $250 + 1 week salary
Scenario 2- quit with 1 week accrued PTO: PwC pays 1 week salary (somewhat adjusted)
How is this a scam by Mgmt?
Gotcha. Okay that makes sense. Thanks ASM1 and PwC12
Libertarian paternalism. Really admire how well they are incorporating Richard Thaler’s research into everyday operations.
I think it’s a good idea and it’ll motivate me to take longer vacations so I don’t loose out on the extra cash. PwC already caps vacation accrual so the firm already has limited vacation liability on its balance sheet. Honestly I don’t even check my vacation accrual balance because I never ever use all my vacation. Mostly because it is A LOT of work to prepare in advance to take that much time off (definitely doable but requires a lot of advance planning and notice) and coming back to hundreds of emails, an avalanche of work, and you have to make up for the hit in utilization makes it almost not worth it...