KPMG to boost its India Advisory practice with thousands of new recruits

Under pressure to ramp up its advisory services for the Indian market, executives at global professional services firm KPMG have indicated that the firm plans to recruit up to 9,000 professionals in the near future. 10% of these new recruits will expectedly be involved in projects abroad.

In light of evolving market trends, the expectations from advisory firms across the globe have expanded, both in terms of volume and in terms of scope of services. Where firms were conventionally expected to devise strategy and identify areas for improvement, clients are now increasingly expecting support in the implementation phase as well.

Naturally, the first bracket of firms to be burdened with these renewed expectations are the upper strata of the accounting and advisory firms, including the Big Four of Deloitte, EY, KPMG and PwC. These firms have now begun the process of matching these expectations and the increasing competition.

In India, not only do the Big Four have to contend with these new expectations, but they have to compete with a sea of smaller firms that are emerging with niche expertise and a more personalised approach. As a result, the Big Four have become increasingly aggressive in their efforts to maintain relevance.

In 2016, Deloitte dealt a damaging blow to KPMG by poaching 20 partners from the latter’s advisory division, in addition to their entire teams. In total, the number of professionals poached amounted to 300, following which KPMG has made consolidated efforts to rebuild its practice in the country.

Last year, the firm announced that it would add approximately 15-20 partners to its practice with corresponding teams of professionals working under them. Now, the firm has announced that the total number of recruits to bolster its advisory practice will amount to between 8,000 and 9,000 professionals.

Alongside the provision of advisory services to the rapidly expanding base of customers in India, approximately 10% of the new recruits will primarily be involved in the global delivery of KPMG services, given India’s position as a major offshore base for the firm.

The Head of Management Consulting and Advisory services for KPMG in India, Arvind Gupta elaborated on the expanding demand amongst clients. He said, “It is even more pronounced (in India). Here, the client, say a retailer, asks you: I want a digital roadmap where you use digital techniques, improve customer experience and use multiple channels and help me sell more. I will give you a percentage of increase in sales. If you can cut my costs, I will share part of the savings.”