We have called our strategy Trust & Growth:
Trust, because trust is the foundation of our business.
Growth, because we want to continue investing in both Assurance and Advisory.
Launched in 2018, we have already completed phase I of Trust & Growth. Phase II started in 2020/2021 and will run until 2023/2024. Last year, to build on progress already made, our strategy operated under the theme Driving the momentum together.
Trust & Growth is based on the idea of our people leading in delivering impact and progress, which is central to our brand. The strategy has five focus areas:
- 1‘Big 4’ refers to the four leading accountancy firms: Deloitte, EY, PWC and KPMG
By focusing on these priorities, we believe we will continue to strengthen quality, enhance public trust and create growth for the company. Among our priorities are:
Strengthening our operating model, increasing the use of new digital technologies and becoming more flexible in the way we use our resources
Re-thinking our staffing model to ensure we remain competitive in a very tight labor market, and continue to have access to the talent we need to execute our strategy.
We see culture as a key differentiator. Supporting our strategy are three cultural attributes: inclusive collaboration, high performance and fast innovation. These attributes describe the behavior we see as essential to success and growth.
In 2021/2022, we made very significant progress against our goals. We continued to focus on quality and maintained high retention rates across our businesses. In addition, we pushed ahead with important investments, beginning our implementation of KPMG Clara (new window) and laying the groundwork internally for our improved operating model. Both revenue and profit exceeded our targets for the year. At the same time, we recognize there is more to be done: in embedding ESG throughout our services, for example, and in further increasing the diversity and flexibility of our workforce – these have been integrated into our priorities for 2022/2023.
- 1‘Big 4’ refers to the four leading audit and advisory firms: Deloitte, EY, PWC and KPMG