PwC to announce deferred promotions & bonuses

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PWC India
Performance scores for FY20 have already been shared with staff, and promotions and compensation changes will probably be introduced on October 1 and be efficient from that date.

Consulting firm PricewaterhouseCoopers (PwC India) has said it will announce promotions, compensation revisions, and bonus payouts for employees on October 1, 2020.

The Company said, Performance scores for FY20 have already been shared with staff, and promotions and compensation changes will probably be introduced on October 1 and be efficient from that date.

“Today we introduced to our individuals our plan round promotions, compensation revisions, and bonus payouts….” mentioned PwC India Chairman Shyamal Mukherjee in a LinkedIn post on Monday.

According to an ET report, Executive Director promotions and partner admissions will be announced in December to be effective from January 1, 2021, the firm told its employees in an internal communication sent out on Monday morning.

In his tweet, Shyamal Mukherjee said, “We are confident that these measures will help us keep the larger long-term interests of our people and the firm at the very center. I am thankful for the support and understanding of our people in these difficult times and their dedication to building a stronger firm of the future.”

At PwC, the standard year-end efficiency evaluation course of kicks off in March, with the ultimate scores and associated outcomes introduced to individuals in finish May, mentioned Padmaja Alaganandan, Chief People Officer, PwC India.

Earlier on March 20, PwC had announced that it is deferring promotions, increments, and bonuses for all its employees in India due to the impact on their cash flows resulting from Covid-19.

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