Ernst And Young : An Multinational Professional Service Company

1158 Words Nov 19th, 2016 5 Pages
Ernst & Young known as EY is a multinational professional service company. They employ over 175,000 employees and do business in 150 countries. When business is down, the first cut that some companies make is with training their employees. This is not the approach that Ernst & Young made starting in 2009, when many people might have referred to our country being in a recession, due to business profits being on the down slide. During this time, Ernst & Young launched a new training program for their employees, known as formal mentoring. This program was developed so employees could reach their potential in the working world. According to Michael Hamilton, E&Y 's chief learning and development officer in the Americas, (2009) “in 2009 the company spent about $450 million world-wide on education.” This new path requires all employees to take part in training within the company. It can be in an area that the employee is currently working in, or it can be in a different area where an employee might aspire to work, once there is an available opening. Each employee will have a mentor, who will work closely to them to help them grow professionally and provide feedback. In addition to the mentor, employees will meet periodically with a higher-level manager to provide coaching and to make sure training growth and development targets are where they should be. Hamilton explains (2009) “that the best way for a company to foster creative thinking is to tap resources it already…

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