KPMG Splurges $450 Million to Make Corporate Retreats Chic

Whoever said corporate training sessions are mundane clearly hasn't visited the Lakehouse.

After experiencing KPMG's state-of-the-art training facility, Lakehouse, in Florida last June, my perspective has shifted.

This globally renowned company, part of the Big Four, invested $450 million in this expansive Florida retreat, aiming for it to be a nexus for training, cultural growth, and wellness.

Employees who frequently interact with clients enjoy company-sponsored trips to Lakehouse once or twice annually, while others make visits for leadership advancement or upon receiving promotions. With space for 800 occupants, bookings are nearly perpetual.

What KPMG has created is more akin to a contemporary marvel than to a rustic lodge. Encompassing glass structures and luxurious interiors, it’s a hub of activity set amongst Lakeland's lush scenery.

Access to the location involves passing through security and driving down a vast circular driveway framed by fountains and a synthetic lake.

Inside, a world of modern classrooms, a full gym, and endless complimentary meals await. One intern aptly likened it to a cross between Google's campus and a five-star resort, remarks Sherry Magee, senior director of client and community ties.

Beyond Just Training

Magee, who chauffeured me through the massive 55-acre property, recollected that KPMG started contemplating its development in 2013, tired of the high costs associated with hotel training venues.

The appeal of Orlando lay in its pleasant climate and proximity, roughly two hours by plane from most offices, leading to the purchase of land in 2016. By 2019, Lakehouse swung open its doors.

Although Lakehouse serves as the main training venue, programs still occur within local offices.

During my visit, sessions were in progress for mid-level professionals, a cohort of 225 summer interns, and some of the senior leadership from across the U.S.

Seeing new graduates and suited executives roaming and studying brought back memories of bustling university days, showcasing Lakehouse's aim to unite KPMG employees from over 80 U.S. locations.

Prior to Lakehouse, it was common for partners to sneak away from hotels post-meetings, says Magee.

"Previously, attendees might dine elsewhere after brief social interactions but no longer," she adds.

To enhance coordination, the Lakehouse app organizes travel, logistics, and schedules, while also providing attendee lists.

Although occasionally showing off Lakehouse to clients, its core mission is to foster a sense of belonging in KPMG's culture, says Jason LaRue, who spearheads talent and culture efforts. Kids and spouses need not apply – the focus is on employees.

With such amenities, people are inclined to work and play collaboratively, like impromptu basketball matches, highlights Rema Serafi, vice chair of tax and a leadership committee member at KPMG.

Embodying Values, Winning the Talent Game

Dedicated corporate spaces can significantly enhance hiring prospects and worker retention, according to Julie Schweber from the Society for Human Resource Management.

Schweber elaborates that such facilities signal a company's investment in its employees’ future and professional progress.

"Company culture distinguishes high-achieving organizations," she shares.

Besides compensation, second to none are career development opportunities, effective boss relationships, and a positive work atmosphere.

Magee notes that impressively high acceptance rates—up by 40%—among college visitors affirm the facility's recruitment potential.

Analyst and business commentator Bill Latshaw echoes a preference for conducting business at owned campuses rather than public arenas, citing compliance advantages.

Lakehouse, A Day in the Life

Residents can start their day exercising on-site or cycling, with charity walks adding a social element.

Evenings offer karaoke, pool matches, yoga sessions, salsa contests, or simple fireside chats.

Lakehouse diversifies leisure options even more with bars like The Landing and Blend.

All Lakehouse lodgings are uniform, right from the top executives to the latest interns. Food, courtesy of on-site Starbucks and various buffet stations, is a perpetual favorite.

As Magee proudly boasts, an overwhelming 97% exit surveys convey excellent satisfaction with their stay.

Staff, though understandably reserved in critiquing their employed venue, appear genuinely impressed, feeling spoiled by the amenities, and notably, the food.

Tax intern Evelyn Nunez-Alfaro from Seattle and audit intern Nathan VanderKlugt from San Francisco share similar admiration for the retreat's transformative hospitality.

Widely praised, the food offerings—hovering chocolate chips to quiches—inspire excitement as Becky Sproul, an audit lead, elaborates.

Learning from Predecessors

Decades before KPMG's luxurious amenities, Shell's English club and McDonald's Hamburger University set precedence for corporate skill bases.

Similarly, Deloitte's $300 million University in Texas exemplifies regional application, hosting thousands annually for knowledge sharing.

Both KPMG and Deloitte simplify server logistics for guests, appreciated by consultants like Latshaw.

Though PwC and EY have not ventured into such investments, they actively create face-to-face interaction opportunities through various events.

Future of Corporate Retreats

Schweber notes that such extravagant developments may not herald a widespread trend due to immense expenses.

In current economic conditions, many organizations refrain from establishing coastal high-tech campuses.

Major players like GE, Salesforce, and Boeing have retracted from special training centers, despite once embracing them.

Although KPMG stays mum on the cost to sustain Lakehouse, Magee confirms that it's budget-neutral compared to past expenditures on trainings.

For many, idyllic local park picnics might suffice as luxurious alternatives.