PwC India plans to increase its staff by two thirds in just five years

19 August 2021 3 min. read
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With a goal to increase its headcount by more than 50 percent and a Rs 1,600 crore investment, PwC in India has unveiled a bold new strategy to support its clients in the modern era.

PwC India is the latest member of the global professional services giant to announce details of the firm’s worldwide ‘New Equation’ strategy, which will see the domestic organisation create 10,000 new jobs over the coming five years. Backed by a Rs 1,600 crore investment into its people and capabilities, the new strategy seeks to support clients in a rapidly changing world, with a strong focus on technological disruption.

“Technology is a key driver of our strategy,” said Sanjeev Krishan, who was appointed as PwC India Chairman toward the end of last year. “We look at it as an enabler to help our clients achieve their strategic outcomes. We will couple the power of technology with expertise in areas like strategy, risk, deals, management consulting, and tax strategy, among others, to create sustained value for our clients.”

PwC plans to increase its India staff by two thirds

As it stands, PwC has a local workforce of around 15,000, with the new jobs to be focused in the areas of digital, cyber, analytics and other emerging technologies. As part of its massive five-year recruitment spree, the Big Four firm intends to increase its campus hiring more than five-fold (with a view toward greater gender diversity), while also continuing to spend at least 1 percent of revenue in up-skilling its people and partners.

In addition to digital disruption and rapidly expanding its people-power, PwC’s new strategy has also been developed around the concept of building trust, at a time when climate and environmental risks and changing social norms are placing ever-greater expectations on corporate entities as to sustainability, transparency and governance. That goes for both aiding clients to evolve, as well as for PwC itself.

“A key component in building trust is delivering on promises,” Krishan told business publication Mint. “Organisations of the future need to strike the right balance between profitability and sustainable growth. This means that they need to look beyond financials and consider the interest of the wider stakeholder pool – to create transparency and assume accountability across a range of metrics.”

As part of its investment, PwC will also look to boost its capabilities in a number of priority, high-growth sectors subject to current heavy disruption – such as consumer retail, financial services, and healthcare and pharmaceuticals – as well as establish a new Research Institute aimed at identifying emerging trends and developing solutions. The firm will also enhance its focus on entrepreneurial and private businesses.

The local strategy forms part of an international push by PwC to add 100,000 professionals to its headcount over the next five years – backed by a $12 billion investment. To fuel these plans domestically however, the firm may find itself locked in a fierce battle for talent. According to various reports and announcements, PwC’s Big Four rivals Deloitte, EY and KPMG are also intent on a significant hiring boom.