- New global career development and performance management model launched
- EY taps into professionals seeking flexibility, short-term assignments with GigNow
- EY Badges to offer credentials for developing future-focused skills
LONDON, Sept. 19, 2017 /PRNewswire/ -- EY today announces a series of new global talent programs designed to prepare its workforce and its business for the future of work, including LEAD, a new global model for career, development and performance. LEAD uses technology and innovative digital platforms and encourages real-time feedback across EY's global workforce of 250,000 people, so that people gain the insights they need to develop, grow their individual careers and prepare for the future of work. LEAD also eliminates the use of numeric ratings in the performance management process.
Mark Weinberger, EY Global Chairman and CEO, says:
"EY is called upon day in and day out to help businesses and governments solve their toughest challenges. Developing our people into complex problem-solvers and preparing them for the future of work is key to our organization's continued success. EY is transforming its approach to talent development with the introduction of LEAD and giving more people the opportunity to develop 'hot' skills, particularly as we use more complex data analytics and introduce robotics and artificial intelligence (AI). In particular, with LEAD our people will spend more time having constructive, forward-looking conversations to help them plan their careers and support continuous learning and development. It's those dialogues that often spark a great idea, unlock a solution or inspire someone to realize their potential."
With LEAD, the emphasis shifts from retrospective performance evaluations and detailed written assessments, to real-time feedback and better conversations that focus on individual career journeys and long-term future aspirations. At the beginning of the year and at least every 90 days thereafter, EY people will meet with counselors to review ongoing feedback and have discussions that drive higher performance and greater individual development.
Nancy Altobello, EY Global Vice Chair – Talent, says:
"At EY, each person's career journey is unique, and we want our people to be able to achieve the career they want, while also having the flexibility to take advantage of new and exciting opportunities along the way. LEAD will help our people gain the insights and cutting-edge skills, coaching and confidence they need to provide exceptional client service and direct their own careers."
LEAD features a new digital personal dashboard that provides an intuitive way for EY people to view their feedback from teams, and track their progress in real-time. LEAD also uses a new gold standard of performance measurement, which focuses on how the individual can aspire to greater levels of achievement to become the best they can be. At the end of each year, EY people will receive individual summary reports showing a consolidated view of all performance feedback as well as an indication of how they performed in relation to their peers and against the gold standard.
LEAD is part of the organization's broader effort to prepare its workforce, clients and business for the future of work by adapting its global business models, including its approach to talent development and recruitment.
Embracing the gig economy
To tap into the "gig economy" and people seeking more flexibility or short-term assignments, EY developed GigNow, an advanced technology platform that sources and matches qualified contractors with projects at EY and on-boards them quickly so they can begin making valuable contributions right away. With GigNow, the number of people working as contractors on short-term assignments at EY is expected to grow significantly over the next several years to supplement EY teams.
Altobello says: "Building a workforce for the future means recognizing that the employer and employee model itself is changing; people are looking for more flexibility in the workplace and the pool of contractor workers around the world continues to expand. With GigNow's advanced technology platform and experienced recruiters, we're able to harness the best talent from around the world when and where we need it to build a more agile and flexible workforce model and scale our global talent base faster and more effectively than ever to serve clients."
People contracted through GigNow will also benefit from EY's world-class learning, such as virtual courses from which they can earn valuable digital credentials for developing new skills.
Jeff Wong, EY Global Chief Innovation Officer, says:
"The trend of contract professionals demanding more flexibility to support new types of career paths is upending the way we find and engage talent. At EY, we see this as a strategic imperative to transform the way we attract the best talent for short-term assignments, especially during bursts of business activity. The launch of GigNow enables us to systematically engage the right talent, for the right opportunities at the right time."
EY will expand the platform with AI capabilities toward the end of the year. GigNow is currently live in the United States, the United Kingdom, Ireland, Australia and New Zealand, with discussions underway to launch in five more countries.
Expanding our recruiting sources
EY is evolving its recruitment strategy to attract the best talent today, and anticipate the types of people and skills that will be needed to solve complex problems in the future. As EY continues to look at traditional sources for talent, it is also expanding its view to other sources and academic backgrounds such as science, technology, engineering and mathematics (STEM) students. The way people are working is changing given new business demands, technology and techniques, and these new sources of talent are adding to the experience and insights that EY teams need to deliver the best results for clients.
Altobello says: "We'll always need dynamic leaders with traditional business backgrounds and skills in accounting, finance and supply chain, for example. But we're also looking for candidates with domain knowledge gained from a wider array of sources, with skills such as cybersecurity and data analytics, and those who can analyse, innovate, think and act globally, regardless of their domain expertise or background."
Earning credentials in future-focused skills
As part of its overall approach to the future of work, EY is introducing a new program called EY Badges later this year. It will support its people in investing in their own careers by earning digital credentials in skills that differentiate them in the market, such as data analytics, AI, data transformation and information strategy.
Individuals will earn EY Badges based on a consistent standard around the world. Badges are earned through world-class learning, fulfilling required experiences and making a contribution to the broader community – such as coaching colleagues, presenting to clients or publishing an article that educates others about an acquired skill. There will be four levels of distinction (bronze, silver, gold and platinum), with defined criteria to be met in learning, experiences and contribution to earn each badge. Prior experiences will also be considered for badging as talented people join EY.
EY Badges builds on the organization's commitment to equip its workforce with the necessary skills to solve complex problems, lead the highest performing teams and stay relevant in a rapidly changing world.
Notes to Editors
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
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This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.
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