Dive Brief:
- Accounting giant Ernst & Young announced Monday that it is investing $100 million to reward U.S. employees who develop “future-focused skills, advance the firm’s culture, drive innovation, and deliver exceptional client service.”
- Among others, the program targets individuals whose contributions drive “meaningful change” through innovation, disruption, technology or growth, according to a press release.
- “The pace and complexity of change in our industry require confident leadership,” Dante D’Egidio, EY Americas CEO and U.S. managing partner, said in the release. “This significant investment reinforces our commitment to building the workforce of the future by recognizing the skills and behaviors needed to lead our profession and serve our clients with excellence.”
Dive Insight:
The move is part of ongoing multi-billion dollar investments designed to attract and develop talent who can “thrive in a tech-led, human-powered world,” EY said.
It comes about two years after EY said it would invest $1 billion in compensation and technology over the next three years to improve “the attractiveness of the accounting profession,” including by increasing early-career pay and funding artificial intelligence-enabled audit and tax platforms.
Besides tech-related achievements, the program unveiled Monday also recognizes behavior that contributes to “learning, experimentation, collaboration and leadership in the moment” as well as actions that make a “long-lasting, material impact on the firm,” EY said.
The Big Four accounting firm is looking to transform “every aspect of the employee lifecycle, from the early career experience and career pathways to learning and development and more,” according to the release.
Last month, the firm announced a new EY Career Residency program — described as a “launchpad” for early career talent that combines real-world experience with coaching and future-focused skills development.
In March, EY said it was doubling the bonus it gives early-career professionals on the certified public accounting track who pass all four parts of the Uniform Certified Public Accountant Examination in their first full year of employment at the firm.
