Accenture CEO Julie Sweet makes an ‘August request’ to employees; says: Our shareholders are counting on us to …
Accenture has made an unusual move in order to boost business before the close of its fiscal year. According to a report by Bloomberg, employees have been told that they can carry over unused vacation days into the next financial year, starting September 1. The one-time policy change departs from Accenture’s usual rules and is designed to keep more staff working through August, rather than taking time off to avoid losing accused leaves.
Accenture CEO Julie Sweet ’s ‘August request’
According to Bloomberg, in an internal memo, Accenture CEO Julie Sweet has urged the staff to push harder in the final weeks of the fiscal year. “Our shareholders are counting on us to deliver a strong quarter in Q4 — everyone can contribute,” she wrote. Sweet encouraged employees to find new ways to serve clients and originate sales — whether small, large, or “mega” — to help the company finish strong.According to people familiar with the matter, the vacation rollover is itself part of this broader sales push, since it removes the incentive for staff to burn through accrued time off before the fiscal year ends, in favor of remaining available to work through the final quarter.
Investor concerns are the reason behind this urgency
The push follows a rough quarter for Accenture. The company reported a 2% drop in new bookings for the quarter ended May 31, and forecast revenue of between $17.75 billion and $18.4 billion for the three months through August, falling short of the $18.47 billion average analyst estimate compiled by Bloomberg. Investors responded harshly: Accenture shares fell 18% in a single day to close at $127.98 on June 18, one of the steepest one-day declines in the company’s history, contributing to an overall 20% slide tied to the earnings miss.The disappointing results have deepened investor concern that Accenture’s consulting-heavy business could be disrupted by AI in the near term, even as Sweet has described AI as a “tailwind” for the company. A Bloomberg Intelligence research note last month said AI remains the central worry for the services and consulting sector, noting that while Accenture’s leadership has positioned the company as a long-term beneficiary of the technology, concrete signs that AI is actually accelerating client demand remain limited.Accenture shares have since rebounded to $171.11 as of August 7, though they remain down more than 36% year-to-date. The company’s August sales drive and vacation flexibility reflect its urgency to reassure shareholders and stabilize performance heading into the new fiscal year.
