PwC plans $12 bn hiring push over five years

PwC announced Tuesday it plans to invest $12 billion and create 100,000 new jobs globally over the next five years as it repositions itself for the post-pandemic economy.

Dubbing the strategy “The New Equation,” the accounting giant said the hiring spree would pivot the company as technological disruption accelerates and clients across the private and public sector focus more on climate change and other public policy priorities.

The new hires will be focused on growth areas such as artificial intelligence and environmental, social and governance issues (ESG), the company said.

In Britain, the company will invest $1.2 billion over the next three to four years in topics such as ESG and technology, a spokesperson said.

The initiative is predicated on the idea that “fundamental shifts” are needed to rethink organizations to build trust with stakeholders and keep up with shifting public expectations of organizations.

“There is a strong need for stakeholders from across society to work together,” said PwC Global Chairman Bob Moritz.

“Whether it’s the pandemic, climate change, social injustice or the digital divide, there is a growing expectation that businesses have a role to play in addressing broader societal issues. Our new strategy is about helping clients address their toughest challenges and delivering for society and the planet.”

The drive includes building new leadership institutes at PwC and a “global ESG Academy, which will enable all of our partners and staff across the network to integrate the fundamentals of ESG into their work,” the company added.