KPMG has set out “ambitious” socio-economic targets which will aim to see 29% of its partners and directors come from a working class background by 2030.
The target follows the firm’s recently published report which measures pay gaps between colleagues from different socio-economic backgrounds by looking at their parental occupation.
Publication of this new data builds on the firm’s work to improve transparency around pay gap reporting, which it has continued to publish voluntarily for a number of years.
KPMG said it will focus on colleagues’ pathway into and through the organisation, from recruitment to progression in an attempt to remove any potential barriers facing those from lower socio-economic backgrounds.
This work will include a new recruitment programme dedicated to bringing in talent from lower socio-economic backgrounds at middle management and senior levels as well as the introduction of mandatory training to all colleagues on socio-economic background.
Currently 23% of the firm’s partners and 20% of its directors are from a working class background, with working class representation across KPMG’s board at 22% and 14% in its executive committee.
Bina Mehta, chair of KPMG in the UK, said: “The publication of this data builds on our concerted efforts over a number of years to track and measure the socio-economic make-up of our workforce.
“It’s only through this focus and level of transparency that we’re able to hold ourselves to account to take targeted action that will help create a fairer and more equitable society.”
Jon Holt, chief executive of KPMG in the UK, added: “We know that investors, clients, employees and communities want greater transparency from business, and our Impact Plan is just the start.
“But by taking this important step in reporting and giving more details about the way we run our business, we’re measuring our progress and holding ourselves to account to ensure that opportunities are open to all.”