OUR EXPERIENCE AT ERNST AND YOUNG

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OUR EXPERIENCE AT ERNST AND YOUNG

• BY KIM NADIA NATHAN WESLEY

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Introduction

• In order to get the most out of our Ernst Young
  experience we decided to document our
  expectations and preconceptions of our time in
  EY. We then compiled this into a timeline to see
  how our mindset towards global businesses had
  changed throughout our time here.
• We explored how our preconceptions had altered
  with time and then sought to discover the reasons
  behind this change.

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Malefemale ratio

• REALITY
• Good balance of males females
• Greater proportion of females in high position
  than anticipated

• PRECONCEPTION
• Finance sector male-dominant
• Competitive and ruthless occupation

• REASONING
• Progressive /liberal attitude in Mumbai
• Greater number of women being educated

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Hierarchy

• PRECONCEPTION
• Clear hierarchal system
• Based on the structure of management

• REALITY
• No obvious structure within workforce
• Less able to distinguish different powers, e.g.
  managers interns

• REASONING
• Business ideologies combined with Indian culture
  tradition
• Progressive attitude and therefore, less
  authoritative

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Dynamics

• PRECONCEPTION
• Global company, therefore of high standard, i.e.
  luxurious
• Country distinctions less obvious within the
  business
• Dedicated building set out for EY

• REALITY
• Open plan working environment
• Working between 2 offices (slightly impractical)

• REASONING
• Lack of space resulted in economizing of office
  space
• Land value is very high
• No property ownership therefore no incentive to
  improve the building

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Wages

• REALITY
• Salaries significantly less than anticipated
• Noticeably large gap in pay between an Indian and
  their UK counterpart for the same job

• PRECONCEPTION
• Wage relative to company status (and not the
  country)
• Higher paying than equivalent Indian based
  companies

• REASONING
• Wages relative to living costs in Mumbai
• Greater disposable income than compared to the
  average person living in England

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Work environment

• PRECONCEPTION
• Strong sense of drive determination
• Attitude of excellence and efficiency
• Harder working than in the UK

• REALITY
• Fairly relaxed atmosphere
• Less structure within their days, (start
  times/breaks/clocking off)
• Longer days, working 6days/week

• REASONING
• Difficulty commuting to work
• Family obligations resulting in less structured
  days
• Excellent reputation of many Indian professionals
  in the UK

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Unethical practices

• PRECONCEPTION
• Use of underhanded tactics to survive amongst
  competitors (Kim/Nadia)
• Some very subtle espionage (Kim/Nadia)
• Business reputation squeaky clean (Wesley)

• REALITY
• No underhanded methodologies used
• Thorough research of competitors carried out
• E and Y a very respectable and quality orientated
  company
• Unethical practices undetectable for us

• REASONING
• Global company with reputation at stake
• Some research of competition needed but no
  dishonest methods used
• Reputation for companies trading in expertise is
  of paramount importance for future
  competitiveness and operation.

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Employee backgrounds

• PRECONCEPTION
• Employees of wealthy background, coming from
  educated families
• Limited diversity (Kim/Nadia)

• REALITY
• Employees often from educated middle class
  background
• Diversity not a significant issue similar to at
  home

• REASONING
• Middle class families usually ensure education
  and a career path
• India is highly diverse thus has developed a
  culture of tolerance

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AGRICULTURAL LOAN WAIVERS

• NATHAN WESLEY

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AGRI LOAN WAIVERS

• This project was a good challenge, as it gave us
  the opportunity to think and reason with
  ourselves
• This was a refreshing change from CSS, which was
  getting too much fun to handle
• Using Microsoft Excel, we complied two flowcharts
  to determine whether farmers were eligible for a
  loan waiver, and whether their waiver had been
  correctly processed by the bank
• This gave us an insight into another part of
  EYs work-

• The governments decision to grant loan waivers
  was a controversial step, as public money was
  being spent in large quantities, which many would
  say was unnecessary
• However the system of eligibility will mean that
  other equally deserving farmers will miss out
  because they have worked hard to repay their
  debts. In some ways, the lazy farmers may
  benefit disproportionately.

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CSR

• PROBLEM STATEMENT
• ARE EY EFFECTIVE IN THEIR CSR ROLE?

NADIA KIM
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ADVANTAGES
DISADVANTAGES

• Encourages businesses to become more active
  within the community.
• Uses the affluence, status and power of the
  businesses to make a difference
• Businesses receive positive publicity, i.e. it is
  a beneficial relationship for both parties.
• Allows the employees to feel like they are doing
  something fulfilling and adds diversity to their
  career and therefore increases motivation
• The benefits of CSR means that it provides people
  with tools so that they can help themselves and
  integrate into the economic mainstream.

• Companies will only carry out minimal community
  work purely for selfish reasons (i.e. good
  publicity)
• Without a department dedicated to CSR, it is hard
  to focus time and effort towards the initiatives
  especially when employees have other commitments.
  So when the work is done it is only done half
  heartedly.
• Uses company revenue which could otherwise be
  used for growth
• The company does not know the optimum way to
  spend money to maximize the benefit compared to
  dedicated charities.

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WHAT CAN BE DONE?

• Specialized CSR department
• Specific role to coordinate projects and spending
• Encourage employees to get more involved
• Compulsory for all employees to commit 1hour/week
  (e.g. 1000hours of CSR by EY employees in
  Mumbai)
• Dedicated time set aside for CSR (during company
  time)
• Exposing employees to the initiatives and
  projects to add diversity to their work schedule.
  This in turn, gives them a sense of fulfillment
• Incentives for those employees who contribute
  their time (much like the I applaud scheme)
• Encourage employees to become involved with the
  Teach India scheme which reflects well on both
  the employee and the company

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Exposing employees to CSR initiatives to add
diversity to their work schedule giving them a
sense of fulfillment
Tournaments/competitions between locals and
employees
Dedicated time set aside for CSR (on company time)
WHAT CAN BE DONE?
Encourage employees to become involved with Teach
India (benefits both the companys reputation and
the employee)
Compulsory for all employees to commit 1hour/week
Specialized CSR department

• Incentives for those employees who contribute
  their time (I applaud scheme)

Specific role to coordinate projects and spending
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I was surprised to find so many similarities
between India and England. I did not expect
everyone to speak English so fluently. The way
Indian tradition is incorporated into all aspects
of everyday life is impressive NADIA
Before I came to India, I was unaware of how
advanced the country was. I had thought of it as
being at the earlier stages of development but
the rate of progression is a lot faster than I
had anticipated. KIM
I had learnt that the tertiary services in India
are on par with the west and will be the driver
for Indias future growth. I was pleasantly
surprised by the relaxed attitudes of the Indian
people and how similar people are across the
world. WESLEY
With much hype about emerging economies such as
India, I was shocked by how far India still has
to go, with over half of the population on under
2 a day. However I have been impressed by the
people of India, who are on the whole very
friendly and funny NATHAN
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THANKS FOR LISTENING AND FORGIVING US THE
OPPORTUNITY to WORK AT EY FOR TWO WEEKS. WE
APPRECIATE THE EFFORTS OF EVERYONE INVOLVED ?