Big Four firm KPMG announced a string of changes across its employee compensation and benefits during the ongoing COVID-19 pandemic and sudden remote work changes brought on by the last year-plus.
KPMG U.S. chair and CEO Paul Knopp announced the changes in
"I believe part of my job is to build support systems that help our people when they need it most,"
Benefits and compensation enhancements include:
- A 10% reduction in employee health care premiums in 2022 and new health care advocacy services.
- Replacement of the current KPMG 401(k) match and pension programs with a single, automatic firm-funded contribution within the 401(k) plan, equal to 6–8% of eligible W-2 pay.
- Staff members will be given up to three weeks of additional paid caregiver leave (separate from PT) to spend time caring for a member of their family or household with a serious health condition. Two new caregiver concierge programs will also be offered.
- All parents will receive 12 weeks of paid parental leave for newborns, newly adopted or new foster care children, regardless of primary caregiver. This works in tandem for employees who give birth, allowing some professionals up to 22 weeks of paid leave.
- A twice annual "firm-wide break," giving professionals at least nine consecutive days to disconnect and spend time with family and friends.
- An expansion of the firm's holiday calendar that provides 16 paid holidays per year, including Juneteenth.
- More recognition of professionals' achievements through financial awards, electronic gift cards and experience-based rewards.
Read the full announcement on
