Paul Knopp, Chair and CEO, KPMG US, a financial consulting firm in New York

We announced a new package of enhancements to our benefits and compensation tied to mental, physical, social and financial well-being. These increases are the biggest in the history of the company. You have to make sure your base compensation meets the market, but you also must have attractive benefits.

For example, we cut healthcare premiums by 10% for 2022 with no change in benefit levels, introducing healthcare advocacy services. We are replacing our current 401(k) match and pension programs with a single, automatic company-funded contribution within the plan equal to 6% to 8% of eligible pay.

As part of this, we are focusing on the crucial element of ensuring that employees know you are watching out for them. They also are looking for flexibilityyou do not want to under-index how important that is. So we also are providing up to three weeks of additional caregiver leave, separate and apart from PTO. Moreover, all parents will receive 12 weeks of paid parental leave and disability leave for employees who give birth, allowing some up to 22 weeks of paid leave. We also have expanded our holiday calendar to now include Juneteenth.

Apply the establishing pay rates steps in KPMG and set up a proper employee compensation. (5 marks for steps in establishing pay rates and 5 marks for the discussion of the situation) (10 Marks)