Bonus increases 'aim to unearth talent'

News Article - 31 October 2006
Category: Business

Addressing the lack of talent in the financial services field remains an issue for employers, with some accountancy companies now taking steps to redress the balance.

Big four company and audit firm KPMG is attempting to tackle the problem by adding to its employee bonus pool, the Herald reports.

An increase of 35 per cent in contributions made by the company means that each employee below partner level now receives an £8,000 bonus per year - up from £6,000 in 2005.

Craig Anderson, head of KPMG in Scotland, told the Herald: "I'm sure if you asked most companies they would tell you that attracting and retaining the best talent is one of the biggest challenges they currently face.

"KPMG has made a huge effort in recent years to create an environment where our people are recognised and rewarded for their efforts in driving the business forward, and that's one of the reasons why our bonus levels are up 35 per cent on last year."

Mr Anderson added that the business was providing bonuses of a social nature too, such as flexible working hours, in a bid to boost morale, adding that "staff want to know they are working for a company with a conscience".

The key to boosting employee motivation and morale is communication and making sure workers understand ground rules, Harvey Widger, principal of Fulcrum Resource Group, told Microsoft.

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