Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Hybrid workingFinancial servicesEquality, diversity and inclusionGenderDependent care

KMPG partner pay cut by 11% as it sets out hybrid working plan

by Ashleigh Webber 3 Feb 2021
by Ashleigh Webber 3 Feb 2021 Chrispictures / Shutterstock.com
Chrispictures / Shutterstock.com

KPMG has cut the pay of its UK partners by 11% and is rethinking its office estate as it focuses on protecting jobs and preparing for a future of ‘hybrid working’.

Average pay for its 582 partners fell from £640,000 to £572,000 as the firm grappled with the effects of the pandemic and focused on supporting its workforce, it said in its annual results report for the year ended 30 September 2020.

Hybrid working

The future is hybrid: so where will we work?

Aviva to close offices in hybrid working plan

A fifth of workers feel employer prepared for hybrid working

Bill Michael, senior partner and chair of KPMG in the UK, said: “This has been an extraordinary year. Throughout the pandemic our priority has been to protect the wellbeing of our people and maintain the long-term resilience of our firm. We have achieved that.

“Over the past year, our people have risen to the challenge in the face of adversity to help clients. They have continued to support each other, and our communities when they have needed us most. I am incredibly proud of their efforts.”

The accountancy giant allowed staff to take unlimited paid time off to care for family and friends during the pandemic – an arrangement that remains in place this financial year.

It has also voluntarily published its sexual orientation, disability and black heritage pay gaps, in addition to gender and ethnicity pay gaps, at April 2020.

Its median gender pay gap improved by 5.2% to 16.9%; and its ethnicity pay gap improved by 0.9% to 11.7%.

The firm’s median pay gaps including partners for sexual orientation, black heritage and disability were 3%, 9.6% and 10% respectively.

Michael said: “The thousands of talented people at KPMG bring with them a multitude of perspectives and experiences.  We do not want gender, ethnicity, identity, disability or background to be a barrier to anyone’s career at KPMG. That’s why we are voluntarily publishing our sexual orientation and disability pay gaps for the first time. We want to be as transparent as possible on the gaps that exist and how we are closing them.

“This year, we are also publishing our black heritage pay gap for the first time. In July 2020, we created a five-point plan that seeks to address some of the barriers black colleagues experience at KPMG. This plan is a long-term commitment to drive forward real structural change.”

No staff were put on furlough last year and it continued to recruit, taking on more than 900 graduates and apprentices and 950 experienced hires. An additional 1,800 people received a promotion.

The firm, which employs 15,776 people including partners, expects to downsize its offices, including its headquarters in Canary Wharf. It is set to invest £44m in transforming its estate to facilitate greater collaboration, in addition to new home working technology, as part of a new hybrid working model.

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

OptOut
This field is for validation purposes and should be left unchanged.

Staff will work part of the week from home and part in KMPG offices or client sites, which it hoped will enable it to access a broader, more diverse workforce.

HR opportunities in Accountancy, Banking, Finance and Insurance on Personnel Today

Browse more HR opportunities in Accountancy, Banking, Finance and Insurance

Ashleigh Webber

Ashleigh is a former editor of OHW+ and former HR and wellbeing editor at Personnel Today. Ashleigh's areas of interest include employee health and wellbeing, equality and inclusion and skills development. She has hosted many webinars for Personnel Today, on topics including employee retention, financial wellbeing and menopause support.

previous post
None of ‘top three’ roles in any FTSE 100 company held by black people
next post
SOM highlights case for wider access to OH in letter to chancellor

You may also like

Next to improve wage-setting transparency after shareholder pressure

16 May 2025

Ofgem workers ballot for strike action

2 May 2025

What will reward look like in 2035?

28 Apr 2025

NI increase has not caused ‘knee-jerk reaction’ in...

23 Apr 2025

Post-pandemic starters seek more pay for on-site working

10 Apr 2025

Maisie Adam to host Employee Benefits Awards 2025

3 Apr 2025

Most businesses will need to adjust wages in...

28 Mar 2025

‘British people too polite to talk about salary?...

28 Mar 2025

Senior HR pay rising faster than junior roles

28 Mar 2025

Employee Benefits Awards 2025 shortlist revealed

24 Mar 2025

  • 2025 Employee Communications Report PROMOTED | HR and leadership...Read more
  • The Majority of Employees Have Their Eyes on Their Next Move PROMOTED | A staggering 65%...Read more
  • Prioritising performance management: Strategies for success (webinar) WEBINAR | In today’s fast-paced...Read more
  • Self-Leadership: The Key to Successful Organisations PROMOTED | Eletive is helping businesses...Read more
  • Retaining Female Talent: Four Ways to Reduce Workplace Drop Out PROMOTED | International Women’s Day...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2025

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2025 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+