Some might call it "frustrating," "awful," "hell," or "consistently the most humiliating aspect of my job," among other things.
Since Deloitte isn't intentionally trying to crush employees' feelings and professional ambitions, the firm recently announced that it was transforming its performance evaluations. It's a noble goal, however, as the firm's year-end approaches, one tipster dropped us a message to say that things don't feel all that different:
Deloitte Performance Ratings: same shit different names. There are no more numbers, but there are still five choices with names to rate you. You will never know what your snapshot says after it is filled out, but you should be conducting check ins every couple of weeks. However, the check ins are supposed to be about your strengths and not about the current project. Sounds good, except it always turns into "get this to me by X day this week."
This system isn't revolutionary, it's about saving time. Saving time means more time to fill with chargeable hours.
It sounds like the spirit of the new process isn't taking off, which is to be expected. Even the Wright Brothers crashed a few times.
Any other Deloitte employees feeling let down or that the new system is just window dressing? Discuss your experiences.
Over the last 20 years or so, for one reason or another, accounting firms that were able to provide audit services to largest companies on Earth have been whittled down from 8 to 6 to 5 to 4. During this time, it became the concern of many (read: anyone not in the “Big” club) that the firms were too concentrated and audit quality was deteriorating due to the lack of competition.
Naturally, the firms at the top have dismissed this argument as bupkis. And because the public accounting industry is one that elected representatives and their constituents could give a rat crap about, the cries of the less fortunate firms have gone unheard.
Deloitte, however, is not impressed with revelation and would like everyone to know that the audit biz is regular dog fight:
The audit market is “fiercely competitive and transparent” according to Big Four firm Deloitte, which sees no reason to open the top-heavy industry to greater competition.
Deloitte believes audit quality is “higher than ever” and said it has seen “no evidence of anti-competitive behaviour”, according to its submission to the upcoming House of Lords inquiry into audit competition.
“Our experience is that the listed-company audit market is one of the most competitive,” the firm said.
“The firm” presumably said this with a straight face.
Back with more from the accounting career mailbag: a former Deloitte employee left the firm recently only to discover that life outside public accounting isn’t all that it’s cracked up to be. Should they return to the Greed Dot???
I am writing to you in the hopes that you can provide some insight. Here is my situation, I worked at Deloitte for about four years now in the Pacific Southwest region of the US. I recently quit and took a job at one of the big public Companies in my city. After being there for a couple of months I’ve realized that I am kind of bored and am considering going back to public accounting.
The partner I worked for at DT told me to call him anytime. Before I make that call I wanted to get some input. If I go back I’ll be a manager within a year, does the job function change that much like they are telling me? I’m single and in the long term I’m not sure what I want, for now I just want to work get some more experience and then figure it out.
Considering Going Back
Dear Considering,
Your problem is not an uncommon one. Many people have spent their entire careers bitching about life inside public accounting only once they leave, they come to the conclusion that they never had it so good. There are a couple of ways to interpret this:
1. You really do love public accounting and you truly believe it is your calling in life.
2.
Of course every situation is different and in your case, you’re looking at a promotion to manager in a year. Let’s give the partner the benefit of the doubt here and consider your question about life as a manager. Personally, we didn’t have the pleasure of reaching the rank but know plenty of friends and colleagues who did and many, many, many of them said it was their toughest year of their career to date.
What happens is that your auditing skills become less important and your time management and people skills begin to take center stage. Can you handle staffing issues? Prepare a presentation for a RFP? Convince a partner that a client really isn’t that pissed and you’re not getting fired (when, in fact, the opposite is true)? This is just a taste of your responsibilities. OH! And do you like reviewing other people’s work? Because you’ll have to squeeze that in as well.
Now that we’ve scared the living daylights out of you – it sounds like you’re more concerned with enjoying your job and getting good experience rather than money. That’s rare around these parts, so good for you.
Bottom line is this – if you’re not happy at your current job and think that career bliss awaits you back at the Green Dot with Sharon and the Costanza Twins, you should go back.
Peanut gallery – what do we think here? Back into the belly of the beast or is it a huge mistake? Fire away.
