BKD CPAs and Advisors has revealed that it invested millions into plans to “keep its team intact, invest in expertise and preserve the intellectual capital of the firm” during the pandemic.
BKD said it avoided reducing employee pay or implementing widespread layoffs, instead the firm provided bonuses, issued raises and invested more than $6m through a paid holiday, work from home stipend, and an additional bonus to the team.
In addition to providing a “multitude of benefits” to those who work at BKD, the firm added that it donated more than $3.5m in fiscal year 2021 to charitable organizations through a combination of giving campaigns.
An initial campaign in June 2020 raised $500,000 for local food banks and pantries and United Way chapters and a recent follow-up campaign netted an additional $650,000.
BKD also raised $1.15 million in extra community support in addition to $1.25 million raised through normal giving to the BKD Foundation. Funds will be allocated to local organizations serving communities near BKD’s offices.
BKD CEO Tom Watson said: “Integrity is in the foundation of our values. It’s important to do the right thing, not the easy thing. I’m proud of the actions we took to support our communities and our teammates.
“Not only did we make an effort to support our team, but we worked together as a firm to help those in need. I think it speaks to the character of our fellow BKDers.”
He added: “As we approach our 100th-year anniversary, I’m honored to reflect on all we’ve accomplished and overcome. Our positive impact is a huge testament to the people who work here, and we’re only getting started.”