Culture

At KPMG we are guided by Our Values and doing great work that matters. We’re building a culture that is open, safe and inclusive, and operates to the highest ethical and quality standards. A culture and environment that is continually listening, learning and evolving.
Jon Holt / Chief Executive, KPMG in the UK

The steps we’ve taken to build our culture

We’re committed to creating a culture that enables our people and firm to thrive. We listen to feedback and continually monitor our progress against key areas to identify what’s working and where we need to take further steps to improve. There are five important elements to building our culture:

Using Our Values to guide everything we do

Creating an open, safe and inclusive environment

Demonstrating the highest ethical and quality standards

Listening, learning and evolving

Work that matters

Building and sustaining an ethical culture

How flexibility enables our people to thrive

Gill works as an Assistant Manager in the Family Office & Private Client team, responsible for reviewing tax returns for the KPMG Partners.

In her previous role, Gill had an annualised contract meaning she worked her contractual hours over 36 weeks of the year and had the remaining 16 weeks off. “I feel very proud to work here and frequently tell people it’s the best job ever." Although Gill has now changed roles with her children being older, she says “the level of flexibility offered was invaluable at the time.”

Despite working in a virtual team, Gill feels the team really support each other, she says “there’s a very positive, friendly culture at KPMG and you can always call your colleagues if you need any help or have a question.”

Creating a culture where colleagues build skills and confidence to challenge

David joined KPMG on an apprenticeship programme after finishing his A-Levels. He was looking for an opportunity to gain on-the-job experience at the start of his career while he studied for further qualifications.

Talking about his time so far, he says; “there’s a brilliant culture here – it’s friendly and welcoming. The apprentices really support each other through all the exams, and all the career milestones.”

From early on, David was given responsibility for different areas of his audit project, which allowed him to work closely with and learn from other members of the team. “You have to build up strong relationships with people – but also be prepared to challenge and question everything to make sure your audit is accurate. The programme is brilliant for helping you build up the skills and confidence you need to do this.”

Speaking about the future, he says he’s excited about his career with KPMG; “there’s so much scope for development and progression into different departments at KPMG. With so many opportunities, you never feel like you would end up on a narrow career path,” he says.

Our Values guide everything we do

Our success and reputation depends on our people doing the right thing. Our Code of Conduct helps them understand how we do this and underpins everything we do. Built on the foundation of Our Values, it conveys clearly our commitment to acting responsibly and taking accountability for the way we do business.

Our Values help us make ethical decisions showing our clients, audited entities and stakeholders what we believe in and what matters to us.

Values Week To help build pride in and deepen understanding of Our Values, we held a week-long celebration in 2022 – Values Week – that focussed on a different value each day.

Activity included a diverse line-up of guest speakers to provoke discussion around each of Our Values, colleague-led content, regional learning opportunities and visuals throughout our offices, to help bring Our Values to life.

The week ended with our second People Awards, aimed at recognising people at KPMG who exemplify Our Values.

To continue engagement post-Values Week, we launched Values Immersion sessions for all colleagues and partners, allowing teams to have a meaningful discussion of Our Values and how we can all take greater ownership for living them. Our Executive Committee and Board were the first group to have an Immersion session and shared their reflections with colleagues. In 2024 we will be continuing meaningful discussion around Our Values with another series of sessions for all colleagues and partners exploring how we put Our Values of Integrity and Courage into action.

91% / of our colleagues feel they know what they need to do to live Our Values in their day to day work 2022 Global People Survey¹ (2021: 87%)

96% / of those who attended a Values Week event believe KPMG is committed to building a culture guided by Our Values. 2022 Values Week feedback²

We do what is right

We never stop learning and improving

We think and act boldly

We respect each other and draw strength from our differences

We do what matters

Creating an open, safe and inclusive environment

We are committed to creating an environment where our people feel they can speak up without fear of retaliation. Where our people feel they will be listened to, and their concerns acted on. Where colleagues can thrive and reach their full potential, whatever their identity or background.

An open environment

We have a number of programmes in place where our people have the opportunity to share their thoughts and ideas, both with our Leadership team and fellow colleagues.

We run annual Open Forums with our Executive Committee, enabling our colleagues to share their view in an informal environment.

To support our Values-Led culture, colleagues attended a Values Immersion session facilitated by their Leader.

Values Week celebrated and deepened understanding of Our Values. 11,800 attended a speaker series event, 5,000 tuned in for The People Awards.

We run an annual Global People Survey, and regular pulse surveys, so that our people can tell us their thoughts on a range of topics related to working at KPMG.

Number of Open Forums with leadership / 12 FY22

Total number of colleagues participating in a Values Immersion Session / > 15,700 March 2023

Attendees at Values Week speaker series events / 11,800 November 2022

Firmwide engagement score / 73% 2022 Global People Survey¹ (2021: 66%)

A safe environment for our people to speak up

We encourage our people to speak up where they have issues or concerns about unethical working practices or where someone isn’t living Our Values. We have a number of ways in which our people can speak up, including through our network of Ethics Champions and via our Speak Up Hotline.

However, as important as our people having a responsibility to speak up, is our responsibility as a firm to listen. We take this responsibility seriously and provide our people with a number of mechanisms to support our commitment to listening.

Alongside this we’ve invested in our processes and controls to ensure we support our people when they have raised issues, without the fear of retaliation. We have zero-tolerance of retaliation which we have enshrined in policy. We’ve invested in a bespoke tool which allows us to monitor for signs of it and disciplinary action will be taken against anyone who has retaliated in any way against someone who has raised a concern.

We’ve also commissioned independent reviews into our Speak Up processes and how we take action when concerns are raised. This includes a six-monthly report from our independent ombudsman and an independent benchmark of our Speak Up processes by Protect, the leading authority on whistleblowing in the UK, which compared us to industry best-practice in a number of areas.

Ethics Champions We have over 100 Ethics Champions across the firm. Anyone can approach any Ethics Champion, no matter their location or role. As well as helping our people to report or discuss any ethical issues or concerns, they will also help to identify and address any examples of poor ethical practices.

Speak Up Hotline Our Speak Up Hotline is a secure and confidential channel for our colleagues to share what’s on their mind. It is monitored by an independent ombudsman who oversees investigations arising from reports received, and reviews and/or makes recommendations with regard to any actions taken by the firm as a result. Colleagues can check-in to see the progress of their report at any time.

Other routes to speaking up To guide our colleagues on the best route for raising concerns, information on all routes for speaking up is available on our internal website. We recognise that speaking up takes courage. We remind our colleagues of the wellbeing support available to them to support them in this process, for example, our independent Employee Assistance Programme, and the health helpline Health at Hand.

Number of Ethics Champions / 100+ FY22 (FY21: 120+)

Reports to Speak Up hotline / 45 FY22 (FY21: 48)

Reports to Ethics Champions / 214 FY22 (FY21: 193)

I remain of the opinion that investigations are taken seriously, addressed in a timely way and approached thoughtfully. The healthy dynamic within the team, which encourages discussion and appropriate challenge continues.
Independent ombudsman report to our UK Board, November 2022

80% / of colleagues felt they could report unethical practices without fear of being negatively impacted. 2022 Global People Survey¹ (2021: 72%)

An inclusive environment

We’re committed to creating a culture where all colleagues thrive and reach their full potential, whatever their identity or background. We are upskilling our colleagues to be active allies in building an inclusive culture and sense of belonging across the firm.

How we’re building an inclusive environment:

We’ve launched our new Inclusion, Diversity & Equity plan Our KPMG: A fairer future for all, which sets out our bold ambitions and long-term targets to 2030.
As part of our dedicated Black Lives Action Plan, we launched a Cross-Company Allyship Programme. The programme opens up opportunities for KPMG and client mentors and mentees of Black and/or Minority Ethnic heritage to gain experiences and access networks from outside of their own organisations.
Inclusive Leadership sessions are an integral part of our promotions to management level and above.
Our Inclusive Leadership Board includes external representatives who help to challenge our progress against our commitments, ensuring we create an inclusive environment.

90% / I am treated with dignity and respect at work 2022 Global People Survey¹ (2021: 87%)

81% / I can be myself at work without concern for how I will be accepted 2022 Global People Survey¹ (2021: 77%)

82% / Average % of our colleagues who have disclosed one or more of their protected characteristics 1 Oct 22 (1 Oct 21: 87%)

Highest ethical and quality standards

At KPMG we are committed to acting responsibly and taking accountability for the way we do business, which includes ensuring that the work we carry out is of the highest ethical and quality standards. We have taken a series of steps to transform the way we govern our business to build trust. We’ve also increased Partner accountability.

How we’re transforming the way we govern our business

The money that Partners have invested in the business is at risk if they don’t meet our ethical and conduct standards.
Our Chair and Chief Executive’s performance and remuneration is based on a balance of trust and growth metrics. Their goals are shared with the partnership for transparency.
Our refreshed Code of Conduct was reviewed by the Institute of Business Ethics (IBE).
We have designed a rolling ethics programme, taking input from the IBE, including basing it around their framework.
We refreshed our Conflicts of Interest policy in May 2022 and all partners, directors and client facing people now receive annual training on conflicts.
We’re investing in our programme to deliver a ‘high challenge, high support’ culture in Audit.

90% / of our colleagues felt the people they work for demonstrate honest and ethical behaviour 2022 Global People Survey¹ (2021: 84%)

85% / of our colleagues felt KPMG’s commitment to quality is apparent in what we do on a day-to-day basis 2022 Global People Survey¹ (2021: 78%)

Doing work that matters

Our work matters to our clients, to our people and to the communities in which we operate. We are committed to working with the right clients and to making a positive impact on society. And we want everyone at KPMG to feel inspired and engaged by the work they are doing.

In the last year, we launched our employee proposition, Our KPMG. It sets out what it means to be part of our firm and the sort of organisation we are aspiring to build together. It’s how we want everyone to experience and contribute to life at KPMG.

Do work that matters

You’ll make a meaningful difference for the businesses, people and communities we serve.

Come as you are

Your unique experiences and perspectives belong here and make us stronger.

Thrive with us

You’ll have the KPMG community at your side, providing the support you need to be at our best

Learn for a lifetime

You’ll be continuously learning and working with the best – gaining advantage for life.

Make your mark

You’ll be recognised for the impact you make, the leadership you show, and the success you create with others.

Listening, learning and evolving

Our Executive Committee are accountable for ensuring that our culture continues to evolve and that our culture ambition is being met, however all of our Partners and colleagues have a part to play in building our culture. We listen to all our stakeholders to learn about what we do well and any areas we need to address.

To understand our people’s views we hold an annual Global People Survey, regular pulse surveys and Open Forum sessions with Executive Committee members throughout the year. Our leadership also regularly engage with our Employee Business Forum, Employee Networks and Ethics Champions to listen to the lived experiences of our colleagues.

Our Culture Steering Group, comprised of Board and Executive Committee Members, meet on a quarterly basis to discuss culture metrics aligned to our culture ambition. Our Chair and Chief Executive’s performance and remuneration is based on a balance of trust and growth metrics. Their goals are shared with the partnership for transparency.

As well as our Board measuring our progress against our culture plan, we’ve been working with the Institute of Business Ethics to look at different aspects of our overall ethical health framework, including the accountability of our leaders, to ensure that an appropriate ethical culture prevails across the firm. Our Public Interest Committee, chaired by Lord Evans of Weardale, provides independent challenge and reviews our progress against our culture ambition, as part of their remit.

¹2022 Global People Survey data is based on 11,069 colleague responses. 2021 Global People Survey data is based on 6,310 responses.

²2022 Values Week feedback is based on 152 responses.