When it comes to performance evaluations, there are two schools of thought. One maintains that despite its rigidity, traditional annual reviews promote “fairness, transparency and development” ("Let's Not Kill Performance Evaluations Yet." Harvard Business Review 1 Nov. 2016). The other, however, rebukes the standard approach and favors “giving people less formal, more frequent feedback that follows the natural cycle of work” (“The Performance Management Revolution.” Harvard Business Review 1 Oct 2016). Considering performance evaluations have a significant impact on a company’s growth and competitive edge, it is no wonder why the market stands divided.
As the nature of work moves towards more fluid and team-based environments, organizations must consider what appraisal model provides the right talent development required for long-term success. Professional services firms, like PwC, will have to continue to explore, calibrate and adjust their performance evaluation systems to millennial expectations in order to remain competitive.
In partnership with the Landegger Program in International Business Diplomacy, PwC is searching for students to participate in a semester-long, team-based consulting project to investigate millennials’ expectations on the future of performance feedback and evaluations.
How does it work?
Interested students should submit individual applications for the Spring 2017 Field Study. PwC will select 5-6 students to form a Field Study team. Over the course of the semester, the team will receive personalized coaching and guidance from consultants and Partners from PwC’s People & Organization Practice (www.pwc.com/us/en/people-management/index.jhtml) as they work to solve a real-world talent-related challenge. At the end of the semester, the Field Study team will present a final deliverable to PwC leaders, which will influence PwC’s global talent strategy.
Who is eligible?
Undergraduate and Graduate IBD Candidates, as well as students enrolled in an IBD gateway course. Preference will be given to students already accepted into the IBD Program.
What is the time commitment?
Each team member should plan to dedicate approx. 8 hrs per week to the Field Study, including one or two day-long workshops, two team meetings per week, and individual research. The Field Study will run from late January through late April.
Do participants receive compensation or academic credit?
The Field Study is an interactive learning experience that does not include compensation or academic credit. However, participants will receive in-person, one-on-one coaching and guidance from senior PwC consultants and Partners throughout the course of the semester.
What do past participants have to say about the experience?
-What did you like about working on the PwC Field Study project?
"My expectations about alumni engagement were surpassed! The alumni were very committed to our learning and development and gave us exposure to others in the firm."
"I liked working with an interdisciplinary team of colleagues and getting out of my program bubble. I learned a great deal from my teammates and about myself."
"I really liked presenting to executives at the firm at PwC headquarters. I had to focus on being on my A game in my presentation skills."
-Why did you decide to participate in PwC Field Study?
"I wanted to dip into consulting and learn about working in teams and giving feedback."
"I wanted a better understanding of what it would be like to be on a consulting project that had real world consequences and outcomes. I also wanted some alumni mentorship."
"I thought the topic was interesting and wanted to learn more through an actual experience."
What do PwC leaders have to say about the past field studies?
"I was blown away by the final presentation, tangible actions and data . . . The team was so professional, prepared and passionate….The team nailed it . . . beyond expectations!"
"We welcome your thought leadership!"
"The...client for the field study, was very pleased with the quality of the recommendations and is sharing the findings with members of our Global Human Capital leadership team. I have attached the team's work product below, which was top-notch."
"Your research, analysis and presentation turned out great. Well done."
How do I apply?
Applications are due by 5pm ET on Sunday, January 22nd. Please complete the application form below and submit it electronically.
Who can I contact with questions?
Please direct questions to Danny Fortin at firstname.lastname@example.org and Steven Johns at email@example.com.
1. Please block your calendar to attend a kickoff workshop at Georgetown University on Saturday, January 28th from 8:00 am - 12:00 pm ET (or Sunday, January 29th from 12:00 - 4:00 pm ET). Participation is mandatory for those who are selected to join the team.
2. Briefly respond to the questions in the online questionnaire by 5:00 pm ET on Sunday, January 22nd.
3. In addition to completing the online questionnaire, please email your resume, saved as PwC_Field_Study_[insert your last name]_Resume, to Rosie O’Neil at firstname.lastname@example.org.
4. All applications submitted by the deadline will be reviewed with equal weight, but early submission is encouraged. You will be notified of the disposition of your application by Tuesday, January 24th. Students will have 24 hours to respond to an invitation to join the team.