PwC experiences higher than expected growth as it nears headcount milestone in Midlands

Credit: Gunnar Pippel

PwC, the professional services firm is nearing the milestone of employing 2,500 people in the Midlands, as it reaches a key milestone in its regional growth aspirations.

As part of a major push across the UK, the firm now employs more than 10,000 staff outside London and is planning to invest £140 million in the year ahead in people, quality, training, technology and upskilling.

PwC Midlands has seen a 35% increase in the number of new joiners starting their careers with the professional services firm this month, with 223 people joining across its three Midlands offices, in Birmingham, Milton Keynes and East Midlands where 300 people are employed at Donington Court.

The jobs boost comes as PwC UK experienced higher than expected growth over its financial year as clients seek help tackling uncertainty, risk and the need to transform. Revenue for the year ended 30 June 2019 by 12% to £4,233m.

Across PwC’s business divisions, Assurance revenues increased by 8.1%, Consulting revenues were up by 22.1%, Deals grew by 8.7%, and the Tax practice, which includes specialist areas such as workforce consulting, legal services and pensions experienced growth of 13.5%. The Middle East practice also grew by 19.1%.

In the Midlands, growth was concentrated on areas of key focus for the firm, including private business and international markets.

PwC’s results are published in the firm’s fifth fully digital annual report – ‘Building a Digital Future’. The report also contains details of the firm’s environmental, diversity and inclusion indicators and insights on its strategy and purpose.

Matthew Hammond, Midlands Region Chairman for PwC in the Midlands, said: “As we continue to build the workforce of the future we are in a strong position going into our 2020 financial year. With our latest intake of new joiners we have surpassed a key milestone as our Midlands-wide team increased to in excess of 2,500 people. I am delighted that the 2019 cohort of graduate recruits have helped us to reach a landmark of 2,000 colleagues based here in Birmingham as we grow towards our planned target of 2,300 by the end of next year.

“There was a high demand for our core services across our Midlands offices, and, in particular, for technology-related solutions. Against a challenging political and economic backdrop, our performance reflects our commitment to working with our clients to solve complex problems whilst making continual investment in our people and our business.

“It is particularly pleasing to see revenue growth in areas where we see potential for expansion, such as in private business and international markets.”

Kevin Ellis, PwC Chairman and Senior Partner, said: “At a time of considerable uncertainty, PwC continues to make a significant contribution to the UK economy. Professional and business services is the fastest growing sector in the economy, accounting for 11% of UK GDP, and the largest contributor to services exports. Maintaining this position for the UK and our business is critical.

“However, businesses must also prove they can deliver more than just good economic returns, which is why I am proud of the continued investment our business is making to address the UK’s skills gap and in helping equip organisations and society for the fourth industrial revolution. We have intentionally shifted gear to make a bigger contribution to addressing the UK’s social mobility challenge by creating more job opportunities in less prosperous parts of the UK and by redoubling our efforts to become a top social mobility employer.

“We experienced high demand for our core services and, in particular, for technology-related solutions. Against a challenging political and economic backdrop our performance reflects our commitment to delivering for our clients and making continual investment in our people and our business.

“We remain optimistic about the UK post-Brexit and are keen to play our role in ensuring people from a diverse range of backgrounds can contribute to the UK’s success. Clearly, there are risks associated with the UK’s planned exit from the EU. Significant work has gone into ensuring we have the necessary resilience in our own business and the right expertise to support our clients. We are committed to creating quality jobs across the UK and working with corporate Britain, government and education providers to ensure we’re building a strong digital future across the UK.”