BKD Invests Millions in Employees During Pandemic
NATIONAL OFFICE – During the COVID-19 pandemic, BKD CPAs & Advisors took a unique path toward recovery. As many accounting firms were forced to make significant financial cuts to their business, workforce or benefits, BKD made a plan to keep its team intact, invest in expertise and preserve the intellectual capital of the firm.
BKD avoided reducing employee pay or implementing widespread layoffs. Instead, the firm provided bonuses, issued raises and invested more than $6 million through a paid holiday, work from home stipend, and an additional bonus to the team.
These decisions paid off and allowed BKD to continue to provide Unmatched Client Service® to clients during this critical time.
“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,” said CEO Tom Watson.
In addition to providing a multitude of benefits to those who work at BKD, the firm donated more than $3.5 million 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.
“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,” said Watson.
BKD has seen a lot of change in the last year, including a new generation of executive leaders, additional services and increased support for industries. In the history of BKD, 2020 and 2021 were monumental years for overcoming challenges.
Watson said, “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.”