We ran our annual benchmark test on our remuneration packages in April 2023. The benchmark showed we are well positioned. We invested in salary structure and secondary benefits to ensure we remain an attractive employer.
During the year, we promoted our Klynveld Fund, open to all of our people experiencing financial stress. All KPMG N.V. professionals receive expense allowances, home office allowances, pension contributions, a share in the firm’s profits and the opportunity to participate in short-term employee bonds, as well as their regular salaries. In 2022/2023, total employee expenses amounted to EUR 399.2 million[1].
In addition, we are committed to further enhancing our compensation and non-financial benefits package where possible. During the past year, for instance, we increased our leasing budget for electric cars and extended our flexible working policy, allowing our people to work remotely abroad multiple times a year. In 2022/2023, we continued to work closely with the Works Council, discussing topics such as pensions, job structures, and mobility schemes; target operating model changes; culture and psychological safety; people development; and diversity and inclusion.
Employee engagement
Across KPMG, we conduct an annual Global People Survey (GPS). This survey measures the engagement of our people as well as our performance in other areas from career growth and collaboration to innovation, clients, leadership and working environment. Our annual survey is supported by regular pulse surveys to ensure we can take quick action, if required, throughout the year. Our annual GPS took place in October 2022. Results for the Netherlands showed an overall engagement rate of 80%, an improvement from the previous year. Audit quality, Learning and Career Growth all scored particularly well – above group benchmarks. We identified areas that require our undivided attention and continuous focus, such as communicating a compelling vision, double down on inclusive leadership as well as wellbeing. The best aspects about working at KPMG are the people and our learning opportunities.
- KPI shown above relates to our Well-being of our workforce material topic.
- 1 Including pension benefits. For reference, our annual compensation ratio (of the highest-paid individual to the median for all employees) stood at 25.8 for 2022/2023.