KPMG is using corporate world’s ‘most tried and tested’ way to push employees to innovate with AI |
KPMG is now turning to one of the most tried-and-tested incentives plan practised in the corporate world in order to push its employees to innovate with artificial intelligence. According to a report by Business Insider, KPMG has launched the ‘AI Spark Innovation’ awards for its US advisory division. As part of the award the company will be offering cash prizes to consultants who demonstrate standout uses of AI which can be scaled across the company.
Outsize rewards for AI ideas
As per the BI report, Rob Fisher, KPMG US’s vice chair of advisory told the publication that the company will award ‘outsize monetary awards’ for the most exciting ideas that create measurable client value or improve back-office efficiency. While Fisher did not reveal the exact amounts but said that the prizes would be materially larger as compared to the typical year-end bonuses, which usually range from 3% to 6% of salary. For junior consultants earning between $70,000 and $120,000, that could mean several thousand dollars in prize money. The awards are open to employees from the director level down, and prizes may be split among teams depending on the impact of their innovations.
Unlocking grassroots innovation
KPMG hopes the program will encourage “grassroots innovation” by freeing consultants from the traditional focus on billable hours. “When employees are just measured on utilization, it discourages people from bringing their best and coolest uses of AI,” Fisher said. “We’re trying to unlock that by bringing more carrots forward.”The company also ran a pilot program earlier this year, with the first official tranche of awards set to be distributed next quarter. Nominations will come from group leaders and be reviewed quarterly by a steering committee.KPMG and its Big Four rivals — Deloitte, EY, and PwC — are investing billions in AI, both to transform their own operations and to guide Fortune 500 clients through the same transition. By incentivizing employees to experiment, KPMG aims to accelerate its advisory division’s shift to an AI-first culture and make technology adaptation visible and rewarding.The firm has set a budget for the program but is willing to overspend if enough ideas deliver measurable impact. “It’s really intended to be a pretty exciting amount of money, especially for our more junior staff,” Fisher said.
