NEW YORK, Feb. 9 /PRNewswire/ -- PricewaterhouseCoopers LLP (PwC) announced today that it has been ranked No. 1 in Training magazine's "Training Top 125" for an unprecedented third consecutive year. It is PwC's seventh overall appearance in the prominent annual ranking of organizations that excel at employee training and development. PwC also received a "Best Practice Award" for its comprehensive internship program, the 101: PwC Internship Experience.
In ranking PricewaterhouseCoopers first, Training cited the firm for turning a major challenge -- the need to significantly reduce training costs while continuing to invest in the long-term development and retention of its people -- into an opportunity to transform its entire curriculum.
"Achieving the No. 1 ranking in Training magazine for a third straight year is validation for our continued commitment to developing our talent, despite the challenging economic environment," said Bob Moritz, U.S. chairman and senior partner of PricewaterhouseCoopers. "By providing our people with the right balance of education, learning experiences and tools, we're not only investing in their professional development, but ultimately in our ability to deliver the best talent and highest value to our clients."
PricewaterhouseCoopers said it took a fresh look at how people received coaching, how formal training was delivered and the aspects of development that people could gain during the normal course of work. Strategically shifting programs from national classrooms to market-based and technology-enabled platforms -- such as virtual classrooms, eLearning programs and collaboration sites -- resulted in savings in excess of $60M, the firm said.
"Working closely with our leaders, we determined which initiatives were core to our business strategy, value proposition, and culture -- and, consequently, most critical to our continued success," said Tom Evans, chief learning officer of PricewaterhouseCoopers. "Sharpening our focus on value and impact, we were able to significantly reduce our training and development costs without compromising the quality of our programs and the development of our people.
"The recognition of our internship experience program is equally important because our interns provide the firm with 70 percent of its annual full-time, entry level hires," added Evans. "Our internship experience utilizes a personalized approach that develops students' knowledge of the firm's culture, values, and business framework while simultaneously providing them with a sense of confidence about their 'fit' with our professional services environment."
PwC has been recognized extensively for its commitment to people. In addition to the "Training Top 125" ranking, PwC was recently named to FORTUNE's "100 Best Companies to Work For" list for the sixth consecutive year. In 2009, the firm was ranked No. 2 in the first-ever "Universum Global Top 50" employers index, a ranking of the world's most attractive employers. PwC has also been named to Working Mother's "Best Companies" list for 15 consecutive years, including six successive years in the top 10, and won the 2007 "Catalyst Award" for its efforts to advance and retain women. The firm has also consistently ranked high on BusinessWeek's "Best Internships" and "Best Places to Launch a Career" lists, as well as the "DiversityInc Top 50 Companies for Diversity®."
About the "Training Top 125"
Training magazine determines the Top 125 companies by measuring organizations on both quantitative (75 percent of score) and qualitative data (25 percent of score). For the quantitative portion, Training works with an outside research company to score companies in five different areas: training program/scope; tuition reimbursement; training infrastructure and delivery; evaluation/metrics; and human resources. On the qualitative side, Training editors look for demonstrable results, progress of programs, innovation, success factors, training strategically linked to business goals, corporate commitment to training, the potential applicability of best practices companywide and to other organizations and industries, and the ingenuity of outstanding initiatives and their potential to become best practices. For more information visit www.trainingmag.com.
PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 163,000 people in 151 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.
"PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP or, as the context requires, the PricewaterhouseCoopers global network or other member firms of the network, each of which is a separate and independent legal entity. © 2010 PricewaterhouseCoopers LLP. All rights reserved.
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