PwC to close down offices two weeks per year

09 May 2022 Consulting.us 1 min. read

PwC US has announced that it will shut down its offices for two weeks a year as part of a wider $2.4 billion investment in benefits and wellbeing.

The accounting and consulting firm previously implemented a one-week shutdown in December, but will now close for an additional week in July, according to a Friday announcement.

“What our people overwhelmingly told us is when the firm shuts down, that's when you can really relax," PwC US chair Tim Ryan told Axios. "They want the ability to plan."

The two-week shutdown is in addition to paid vacation days, which average between three to four weeks annually at the firm.

PwC to close down offices two weeks per year

The shutdown is part of a multi-billion-dollar “My+” employee experience program, which PwC has rolled out as it seeks to attract and retain talent in a competitive market. The firm is facing particular pressure from parallel suitors in industries including fintech, health tech, and clean tech.

The benefits program includes an extension of parental leave from eight to 12 weeks; additional mental health benefits; and new training and coaching programs. PwC US recently gave a 5% mid-year raise to its 40,000 client service professionals as well as the option to work remotely permanently.

From July onward, PwC US professionals will also have the option to work abroad for up to 20 days per year.

Other accounting and consulting firms have likewise been enhancing their benefits packages with a nod to “employee wellbeing” but a wink to talent retention. Grant Thornton US recently gave its workers three extra paid days off this summer, as well as Friday half-days. PwC’s Canadian counterpart opted to give its workers five extra paid days off spread across the summer as five additional long weekends.