PwC Singapore to spend almost $10m on staff digital upskilling over next 2 years

Globally, PwC's gross revenue increased 7 per cent to US$42.4 billion from US$40.7 billion a year ago.
Globally, PwC's gross revenue increased 7 per cent to US$42.4 billion from US$40.7 billion a year ago. PHOTO: REUTERS

SINGAPORE - PWC Singapore is committing close to $10 million over the next two years to develop the digital skills of over 3,500 employees, the professional services firm said on Tuesday (Oct 1).

The pledge comes as the company reported a 9.3 per cent increase in its Asia revenue to US$6.1 billion (S$8.44 billion) for the year ended June 30, 2019, from US$5.7 billion in the previous year.

Globally, gross revenue increased 7 per cent to US$42.4 billion from US$40.7 billion a year ago.

The Singapore programme includes classroom and virtual training on the basics of data visualisation, data analytics and automation which adds up to more than 80,000 training hours, PwC said.

The firm will assess and improve its employees' digital fitness through an app that recommends customised on-the-go upskilling plans and materials.

Other initiatives include e-learning platforms and a centralised solutions repository and technology collaboration platform.

PwC Singapore will also have employees with advanced digital skills to "help teams utilise insights, automate processes, develop solutions and improve user experience to accelerate digitalisation across the firm", it said.

The programme in Singapore is in line with PwC's upskilling commitment across its worldwide network.

It is committing US$3 billion to upskilling globally over the next four years. The money will be used primarily to train employees but will also fund development and sharing of technologies to support clients and communities.

There is an urgent need for organisations, governments and educators to fix the growing mismatch between skills people have and those needed for the digital world - and business has an important role to play, said PwC.

The professional services firm released a survey last week which showed that Singaporeans are the second-most nervous about the future impact of technology on their jobs in an 11-country survey.

"The programme is intended to drive a culture of innovation where each staff and partner is empowered with the right mindset and capabilities in data and automation to determine the path they want to take, and even play a part in shaping the profession of the future," said Yeoh Oon Jin, executive chairman at PwC Singapore.

Separately, PwC Singapore announced on Tuesday it has promoted Paul Pak to leader of its asset and wealth management (AWM) practice with immediate effect. Mr Pak succeeds Justin Ong, who had led the practice since 2006.

Since 2012, Mr Pak has led the risk, regulations and compliance team within PwC Singapore's AWM practice. He has over 22 years of experience working with and helping asset management, asset servicing and wealth management businesses in Asia Pacific, the UK and the US.

Mr Ong will continue to lead PwC's AWM practice across the Asia-Pacific and PwC's financial services assurance practice in Singapore.