As part of the exercise, the starting salaries of entry-level professional staff will be increased by 20%.
KPMG Singapore has announced salary increments for a majority of its employees. Among these, the starting salaries of entry-level professional staff will be increased by 20%.
Announced by the company on 19 May 2022 (Thursday), this move will see S$25mn worth of investment from this financial year go into salary increments.
In addition to the salary increase, KPMG Singapore will pay out market-competitive bonuses, and invest in a S$30mn-worth lifelong learning programme for its 3,200-strong local workforce, in ensuring employees keep up with the market in cross-sector trends, and transformative expertise.
With this programme, the company will continue to groom its talent over the next five years, involving employees in training on futurist capabilities, harnessing skillsets such as data and digital literacy, as well as valuing and creating measurable impact, alongside environmental, social, and governance (ESG) topics.
Looking at the ESG aspect – according to the statement, in 2021, the company announced a commitment to "embed ESG competencies" in its workforce worldwide, over the next three years. In detail, this would involve ESG training for its 236,000-strong global workforce, in partnership with the University of Cambridge Judge Business School and NYU Stern Executive Education. Employees also have unlimited access to over 16,000 courses across business, innovation and technology, and have opportunities to put learning into action.
Beyond that, KPMG Singapore will also:
- Support its audit & tax employees towards professional accreditations, investing about S$21,000 per employee in tuition fees, exam fees, and paid study leave;
- Equip its employees with multi-disciplinary skills, and knowledge to tackle emerging challenges in ESG and digital transformation, and
- Double its technology investments in 2022. This will see the firm implementing the future of work in its new office space later this year, with technologies that would facilitate enhanced collaboration through virtual, hybrid or physical meetings, and work arrangements.
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