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Dream, Believe, Dare, Do 243

Ernst & Young formalized its flexible work arrangement (FWA) program,
which empowers employees to decide how, where, and when they get their
work done. According to E & Y, approximately 2,300, or nearly 10 percent
of its U.S–based workers, take advantage of the program. The Flexible Work
Arrangement is especially appreciated by women at E & Y who are serious
about furthering their careers. Women professionals currently account for the
majority of FWA participants, although men are increasingly taking advan-
tage of the program every year. Today, 20 percent of the participants are men,
up from 17 percent last year and 13 percent two years ago. This program
allows thousands of professional women and men to balance their career goals
with their personal lives.
As Phil Laskawy told us, “When I was in school, all the smartest kids were
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girls. When I got into business, I wondered what happened to them.” Vice
chair of client services, John Ferraro, knows that giving women the chance to
succeed makes good business sense. “Our commitment to women’s develop-
ment and advancement is integral to Ernst & Young’s success. In 1996, E &
Y launched a focused effort to grow its women leaders, both personally and
professionally. Since then, the promotion rate of women at the partner level
has more than doubled to 25 percent and women now comprise 13 percent
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of all leadership positions at our firm.” From offering childcare to concierge
services, it’s clear that Ernst & Young is dedicated to helping employees
manage both their professional and personal lives.
A true testimony to its values, Ernst & Young is concerned about the
perceptions of its alumni. “We look at employment as life-long. Not being
with the firm anymore does not mean that you are not a part of the family,”
Phil Laskawy told us. The strong alumni network is evidenced by the fact that
25 percent of its experienced hires are “boomerangs,” or those who left the
firm and then returned at some point in the future. And, of course, leader
behavior is a key factor in those decisions people make to return to the Ernst
“family.” As is true of Isadore Sharp of Four Seasons, the leaders at Ernst &
Young truly understand their role of setting the right tone for the organiza-
tion: one of trust and respect.
But is it working? In 2000, Ernst & Young had revenues of $9.5 billion
and 88,625 employees, ranking fifth among the then Big Five. Today, Ernst
& Young ranks second in revenues among the Big Four, with $16.9 billion
in revenues and over 106,000 employees; its largest competitor’s revenues
and staff decreased over 5 percent for the same period. For eight consecutive
years, Ernst & Young has been consistently named to Fortune magazine’s