It has been a while since we’ve reported anything on Big 4 accounting firm KPMG; we thought the firm might finally be cleaning its act up. But then we received this:
After up to 12 departures (from consultants to a talented senior manager) from the KPMG Perth Tax division in the last year there is set to be up to another 12 from all levels planning on leavng before the June annual reviews as most are tired of lower pay compared to the other big 4, longer hours, no incentives and a demoralising working environment that is not improving since the arrival of the famous fruit box again. With only 60 in the division this represents a big proportion of accountants who think they will be better looked after else where.
It is probably a good thing that KPMG is intending to vastly increase its graduate recruitment in 2012. According to the AFR (28/2):
KPMG’s 2012 graduate intake will climb 20% to 400, the firm’s biggest intake ever… KPMG’s graduate growth spurt comes on the back of the expansion of the firm’s advisory area.
We think it might also come on the back of key departures in a variety of groups, including Perth’s Tax Division. Meanwhile, it turns out KPMG, like Deloitte, is opening itself up to this new thing called “social media” in its recruitment drive:
KPMG set up a Facebook page for students and graduates earlier this year and has formed a partnership with Lode, a website that matches graduates with potential employers. Lode’s latest initiative is the School of Maverick Thinking. Using Facebook, students vie online for paid internships.
No word on whether the School of Maverick Thinking involves flight simulation.
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Seriously, this isn’t new. I worked for KPMG for over 6 years and at any one time there would be at least a dozen people who are thinking of leaving because they are overworked and underpaid. The reality though was hardly anyone would leave. It is the nature of professional services. Everyone feels undervalued, but everyone wants the boost that working for a Big 4 firm will have on their career.
Unless there is some collusion amongst these 12 people, then given there is only 3 1/2 months left until 30 June, I would be surprised if all of them leave by then.
KPMG Tax pays the lowest of the Big 4 in Perth, and I haven’t heard kind things said about the workload thrust upon their employees either. The 12 contemplating leaving are probably doing the right thing for their careers (and lives).
No surprises here. This firm is run by a buch of idiots. The situation was so bad in the group I was in that there were a number of people that resigned without another job lined up and people resigning after less than 12 months at the firm.