News: KPMG to give out $160 mln in salary increases

Compensation & Benefits

KPMG to give out $160 mln in salary increases

The investment on salary hike comes a few months after KPMG announced Total Rewards benefit package aiming at enhancing the employee benefits in terms of mental, physical, social, and financial well-being.
KPMG to give out $160 mln in salary increases

KPMG has allocated about $160 million of investment on a salary hike of around 35,000 employees. According to a report carried out by HRD Asia, company CEO Paul Knopp made the announcement in a statement. 

In the statement, Paul said, “This increase in salaries embodies our commitment to quickly recognise the value our people create for our clients and firm in times of change. Moreover, it reflects our appreciation for their resilience and consistent dedication to serving our clients and the capital markets with quality.”

This announcement follows the declaration of the Total Rewards benefits package by the company which aims at enhancing employee benefits in terms of mental, physical, social, and financial well-being. In the statement, Paul further added that this increase was done with reference to a previous study conducted by the company which revealed that employee value proposition is viewed as the "top operational priority to achieve growth objectives."

Additionally, the company will continue to focus on prioritising people through all the employee-oriented initiatives some of which are:

  1. Diversity, equity, and inclusion ambition defined by Accelerate 2025, which Knopp said sets the company's plan to make measurable progress and make sure all of their employees thrive
  2. The $1.5B global investment in expanding our ESG capabilities, focusing on training all their professionals to enable clients and businesses to fully embed ESG into KPMG's strategy and day-to-day.
  3. The hybrid future, which reflects hundreds of conversations with employees and focuses on a bottom-up approach to define how an individual, a team, and a business works
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Topics: Compensation & Benefits, #appraisalseason, #NewAgeEmployeeBenefits

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