Company: PwC
Date: 2015-06-05
Overall rating: 3/5
Employment status: former

No more performance ratings to motivate employees
Pros: Work with smart and talented people.
Cons: The firm recently implemented a new performance management system in which they have eliminated the process of assigning performance ratings to employees.  Instead of rewarding staff with a merit increase reflective of their performance rating, PwC now pays their staff on a formulaic model based on how long one has been at a certain level.  The new process does not measure one’s performance.  Therefore, employees who are performing at a much higher level than someone who is simply meeting expectations can get the same merit increase for the year.