During 2021/2022, we experienced continued skills shortages across a number of areas, including technology services, ESG and assurance. In response, we have stepped up recruitment. Last year, we hired just over 1,500 new employees (including nearly 400 interns). This step-up in recruitment was achieved mainly thanks to KPMG’s strong employer brand, our personalized approach and targeted hiring campaigns.
Annual retention rates, meanwhile, remained high – testimony to continued career development opportunities, success-sharing incentives and other benefits for employees. Across the company, our retention rate for 2021/2022 was higher, at 82%, only slightly short of our target to limit annual departures to 16%, but ahead of the industry average (see table below).
Over the past year, we worked to strengthen our workforce planning, part of our broader Workforce of the Future project. As part of our Workforce Shaping initiative, we are starting to map out the resources and skills that we’ll need to meet future client demands:
In Advisory, we are introducing flexforce, which gives us more flexibility in resourcing and staffing, particularly important as we phase in our new operating models. As part of this initiative, we will be near-/off-shoring activities to KPMG Global Services and KPMG Delivery Network.
In Assurance, our focus is on developing skills we will need for the future. We have put in place new career tracks in ESG, IT and digital & innovation.
In Business Services, we have launched a Business Services Academy for skills training in areas such as project management and consulting.
Retention rates across our businesses
Figures show % of employees in each business unit remaining with the company during the course of the financial year.
Learning, development and succession planning
In 2021/2022, we invested EUR 11.4 million in training and development, an increase of more than 36% compared with the previous year. We view KPMG as a ‘knowledge campus’. Learn for a Lifetime is one of our five Employee Value Proposition promises. We have detailed training programs, covering five areas: leadership development, professional development, business development, personal development, and ESG & digital. Over the past year, we redesigned our 100-day onboarding program for all new employees, including directors and partners, and extended access to our Digital MBA. We have also developed a new ESG curriculum – one of the first in the KPMG network. In addition, we have clear succession planning, and are continuing to develop what we call our ‘spike leadership’ approach.
|
2021/2022 |
2020/2021 |
|
|
Total spending on learning and development (EUR million) |
11.40 |
8.38 |
|
Average spending per employee (EUR) |
2,980 |
2,402 |
|
Average annual training hours per employee |
124 |
116 |
Success-sharing
Financially, this has been a successful year for KPMG N.V. We have seen growth in both revenue and profits. During 2021/2022, we took initiatives to share this success and increase benefits for employees:
We introduced an intermediate salary increase for all employees[1] in July, raising our entire reward structure at the same time. This intermediate increase was in addition to annual salary reviews for employees, which brought the total individual increase to an average for the year of approximately 12%.
We also paid a series of one-off bonuses to all staff and provided additional, non-financial benefits, including remote working from abroad, introduced in September.
These initiatives were decided after consultation with employees to make sure we are meeting their preferences and needs in the current environment.
Parental leave
In August, we updated our parental leave policy – all staff members are now entitled to nine working weeks of partly paid leave for children under the age of 1. Figures show that 73 employees – men and women – took parental leave in 2021/2022:
|
Men |
Women |
|
|
Employees entitled to parental leave |
89 |
74 |
|
Employees taking parental leave |
30 |
43 |
|
Employees returning to work after parental leave |
9 |
15 |
Please note that figures for employees returning to work include only those who returned during the reporting year. Other may still have been on leave on 30 September at the end of 2021/2022. We qualified those employees who did not register paid parental leave on or after 1 October 2022 as returned to work. From 2022/2023, we will also report on the number of employees still in employment at KPMG twelve months after their return to work in line with requirements under the Global Reporting Initiative (new window) (GRI).
- 1Not including equity partners