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Attrition+economic slowdown and tech layoffs, mixed bag it seems. What are your opinions on this ? Will there be good hike next season or any talent retention steps to be taken here? Deloitte Deloitte USI
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McK.
No layoffs and declared that won’t be any this year.
Allowance for WFH equipment for BA, ASC, EM and equivalents.
Professional help and subscriptions - for mental health, headspace, virtual workouts.
Constant communication and AMA by global managing director, regional/country level managers, practice leaders.
1:1 coaching sessions by various practice leaders (I realize this may be driven by personal initiative rather than firm directive).
If you hear of one, let me know where to apply
Best is subjective. So far, I’m happy with how KPMG has handled this crisis. Within the first month, they set expectations that there would be no variable comp, but have since walked back and hinted there may be some VC. They have been generous at allowing monitor/docking station/ home office expenses. They’ve instituted weekly check-ins with PMLs (your choice) for folks that need to speak to someone for their own sanity. They ramped up training offerings to upskill those on the bench. And so far, they’re still pulling “levers” other than layoffs.
Not saying they’re perfect, or that they will never lay people off, but so far they’ve been pretty good and conscionable in how they have treated their people.
Better than Deloitte it is utter carnage there
I’m very happy with the way Booz Allen is handling the crisis...
PwC has been great. No layoffs (unless you were already rated as poor performance). Pay increases (not as high as usual but still) and bonuses are planned (again not as high as usual). No-weekly calls with our top partner.
I’m not sure about that entire statement, but I do believe no base pay increase for anyone just promotion increases. It’s a tough pill to swallow, but I guess I still consider us lucky since other firms are doing layoffs (for other than poor performance) and no promotions. I guess it’s all perspective, and for me, I’m selfishly looking at it through the lens of receiving a promotion.
My firm Deloitte hasn’t done anything monetary, and they’re laying people off, but I have to say I do like how the situation was handled. It was dealt with early on where firm travel stopped immediately and have weekly updates from the firm. Just felt supported by leadership in general. As a recent new hire this was surprising to me.
AP did well after a weak response in the early weeks. We have an extra home office budget and 2 additional weeks of PTO for the year to deal with any family matters during WFH. That said most people are very busy and we have very high unused vacations across the firm.