KPMG’s UK arm among first to set targets for working class staff By Reuters

0
23
© Reuters. FILE PHOTO: The KPMG logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause/File Photo

By Huw Jones

LONDON (Reuters) – Accountants KPMG said on Thursday it had become one of Britain’s first companies to set a target for staff from working class backgrounds to help close a pay gap and diversify its workforce.

Companies are already taking steps to diversify by increasing the number of women and ethnic minority employees, particularly in senior roles.

Targets for socio-economic background have featured less in corporate diversity efforts.

“We’re setting a socio-economic background representation target for the first time, alongside our other diversity targets,” KPMG said in a statement.

“We are aiming for 29% of our partners and directors to be from a working class background by 2030,” said KPMG, one of the world’s ‘Big Four’ accounting firms along with Deloitte, PwC and EY.

It has 582 partners and around 1,300 directors in Britain.

Currently 23% of KPMG’s partners and 20% of its directors are from a working class background, with working class representation across KPMG’s board at 22%, dropping to 14% in its executive committee.

Staff from a professional background typically earn about 8.6% more than colleagues from a working class background, which KPMG defines as having parental occupations like receptionists, electricians, plumbers, butchers and van drivers.

“We’re training all our colleagues on socio-economic background, including the invisible barriers that exist.” KPMG said.

In July, the Financial Conduct Authority set out proposals to increase gender and ethnic diversity in Britain’s board rooms and executive committees, and suggested companies could also consider other types of public disclosures, including sexual orientation, disability and socio-economic background.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.