- KPMG is charging its staff £100 ($US127) for filing important paperwork late.
- The fines come out of employees’ individual bonuses, with those who submit on time having a larger bonus pool.
- “It’s important that all of our people complete their timesheets on time, so that we can accurately track our revenue, record our work for clients and plan our resource effectively,” KPMG said.
Big Four accounting firm KPMG has taken radical steps to stop its employees returning key paperwork late by cutting staff bonuses for missing deadlines.
Employees who submit their time sheets late will face losing £100 ($US127) from their individual bonuses – boosting the bonus pool for other staff.
The policy, which began in September, relates to digital logs which track how long it takes employees to complete tasks. It follows a similar policy KPMG trialled earlier this year in which staff would be charged for lost computer equipment such as mice or phone chargers which was shelved following employee reaction.
One staff member told Business Insider that the process only takes five minutes a week and shouldn’t cause undue complaints.
The Financial Times first reported the KPMG policy, saying that the staff is unhappy with the measure and complain they are being treated like children. A partner at a rival firm told the FT that the policy is “desperate,” adding: “What a way to treat your professional staff.”
In an email, a KPMG spokeswoman responded to Business Insider:
“Like any professional services business, it’s important that all of our people complete their timesheets on time, so that we can accurately track our revenue, record our work for clients and plan our resource effectively. We are aiming for a 100% on time completion rate and have informed all colleagues why timesheets are important. Our Partners who run our individual business areas are in charge of making sure their teams meet their responsibilities and in all areas do or will impose financial penalties for colleagues who breach the policy. It’s important to note that if colleagues are poorly or out of the office for other reasons, then there is flexibility on the deadlines to complete their timesheets.”
“We actively encourage home working and provide our colleagues with a wide range of IT equipment and support to enable them to take up this benefit. In January 2017, we trialled a policy of charging staff for certain lost IT items like privacy screens and laptop locks, but this was not implemented after listening to staff feedback. We may charge colleagues for a small range of IT consumables, like mice, laptop cables and tablet pens if they lose them, but any equipment that breaks or is stolen is replaced and paid for by KPMG.”
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