SD Worx - Annual Report 2014
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Transcript of SD Worx - Annual Report 2014
annual report 2014
Expertise as a driver of innovation
An innovative approach often energises progress
annual report 2014
Expertise as a driver of innovation
Steven Van HoorebekeManaging Director of SD Worx
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” Our partnerships allow us to proactively trim our HR services to match our customers’ requirements."
Expertise as a driver of innovation
Since the 1990s, we help our Belgian
customers not only with payroll, but
also with consultancy and training
services. As far as our international
expansion is concerned, it began in
the 2000s, with branches in
Luxembourg, the Netherlands, France
and Germany. Ever since the creation
of the Payroll Services Alliance, our
pan-European partner network, we
have become a solid player covering
28 countries.
2014, a strong year
2014 was a strong year for SD Worx.
Our net profit increased from 2.1
million euro in 2013 to 27 million euro
in 2014. The most remarkable
element of this result was our
operating profit without financial
income which rose to 14 million euro
in 2014. We will keep aiming for this
level in the coming years. In addition,
our investments performed very well.
Positive figures
How, in a market under pressure, did
we manage to achieve such positive
results? A series of conditions led to
this, as we had put a stop to a
number of loss-making activities over
the past years. Moreover, we trimmed
– and subsequently kept tightly
controlled – the cost structure. We
achieved this through process
optimisation, lean methodologies and
smart outsourcing. Finally, we drew up
a new strategy which is clearly bearing
fruit. Above all, we owe our results to
the entire SD Worx team. Our people
are doing their utmost at all levels and
in all activities of our organisation. This
allowed us to achieve the necessary
growth that gives us the investment
facilities to keep innovating.
With our SME division, for example,
we achieved 9% growth in a mature
market. Our international division, too,
experienced much stronger growth
than budgeted.
Of course, we will not be able to
repeat such a significant growth in
profits in the current year, but we will
strive to keep the operating figures at
this level.
A strategy that works
Last year, we organised a roadshow
to present our new strategy to our
2,000 employees in five countries.
This makes sure that all our employees
in Belgium and abroad have the same
“experience” of the transition we are
going through and of the three pillars
we are aiming for in our work.
Customer experience is the first. We
cannot deny that payroll threatens to
become a “commodity”. Our
customers expect the correct and
timely calculation and payment of
wages – despite the complexity of it all
sometimes. In this activity, we should
be able to surprise our customers. We
have to prove that they are better off
with us, that we have more
capabilities and that we do more than
other players.
Part nerships is our second pillar.
Today, more than ever, it is clear that a
company cannot do everything itself.
One company cannot be everywhere
and provide the know-how and
financial resources for everything.
In order to innovate fast and effectively
in specific areas, a company should
look for suitable partners.
At SD Worx, we are making every
Driving innovation in search of added value: this has been our guiding
principle throughout our existence. We started up back in 1945, when
payroll was becoming a more complex matter. In the 1960s, for instance, we were the first payroll
company to introduce technology, which also allowed us to provide
services to the bigger companies.
“2015 marks yet another new celebratory
milestone in our company’s history as we blow
out 70 candles. We have been able to develop
and strengthen all three pillars in our strategy –
customer focus, partnerships and a proactive
approach – because of our extensive experience.”
foreword
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effort to expand our ecosystem, both
nationally and internationally. Our
current success, for instance, can be
attributed to the fact that many
accounting firms are keen to work
with us, and at European level, we
have achieved strong results because
of our partnership within the Payroll
Services Alliance. We are also
strengthening our presence in the
Netherlands by joining forces with
CTB, a provider of HRM and payroll
systems and payroll firm specialised in
the construction industry.
Our partnerships also enable us to
broaden the range of products and
services we offer our customers. For
instance, after Cornerstone
OnDemand, we also signed an
international cooperation agreement
with Talentsoft, yet another top player
in talent management software. That
allows us to proactively trim our HR
services to match our customers’
requirements.
Proactivity as a mind-set
The third pillar – which is closely
related to partnerships and customer
focus – is proactivity. Thanks to our
close relationships with customers
and prospects, we know what their
needs are and will be, and how we
can meet those needs.
We do not just rely on our gut feeling
when offering solutions. Quite the
opposite. Over the years, we have
accumulated a wealth of data. On that
basis, we can provide our customers
with targeted information, advice and
tools to capitalise on potential
opportunities. We are also able to
benchmark them with other players in
their sector, in the field of Reward for
example. We had already translated
such an option into practical salary
surveys and the online Reward
ProfilerTM. Our Performance
Dashboard has now been expanded
as well to include reward data. This
new interactive online reporting tool
includes about 270 common functions.
In other words, based on our rich
expertise, we can offer companies
and organisations real value.
Innovation is our second nature
2014 was yet another very innovative
year for us. It was a strong year in the
area of new legislation – and
corresponding adjustments in our
payroll engine. And we went further
than that: we rewrote our payroll
software for SMEs to meet the latest
standards for mobile operation and
ease of use and added lots of
self-service capabilities.
In the context of our various payroll
suites, we involve our customers
proactively in choosing innovative
features for future releases of the
software.
More and more customers – whether
SMEs or large players – entrust us
with their expat, salary split and
secondment projects. For them, we
are the only player to integrate tax
service in the payroll processing in
various countries.
We also rolled out innovations in our
own company. Our own employees
are now enjoying the Flex Income
PlanTM, for example. As a matter of
fact, we are currently one of the few
players to implement it also in large
and complex organisations.
We carried out another innovation in
our SME offices. Through extensive
automation of the payroll process, we
ensured that our colleagues were
given more scope to focus on what
really matters: their customers, and
informing and supporting them
proactively.
In addition, by focussing on specific
sectors, we can innovate in a targeted
way. For example, last year we
developed for the healthcare sector
specific payroll software, which is now
being used for the first time. For the
public sector – particularly medium-
sized city corporations, municipalities
and PCSW – we developed a specific
SAP payroll solution.
People are our strength
The force behind these innovations?
Our loyal customers combined with
our employees and their vast
expertise. We are proud of the result
that we have achieved, all together.
The figures prove that our teams have
worked hard and with focus; we are
aware that the pressure is high.
Our thanks go to you, our customers,
for putting your trust in our
organisation. We value greatly your
feedback on our services and the
innovations that we may implement in
the coming years. We will continue to
invest in process automation and
systems to extract more information
from our data, so that we may better
assist and advise you.
We would also like to thank all our
employees for their dedication and
perseverance. Every day, on the
strength of their know-how and
experience, they provide their
customers with top quality service.
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Filip DierckxChairman of the Board of Directors of SD Worx
Thanks to our close relationships with customers, we know what their needs are."
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”
SD Worx stands for a full service package in the areas of Payroll, HR, Tax and Social Law consultancy. By way of a broad service offering, we deliver the best suited approach for
every situation: tailored advice, training, in-house or external support, backed by the necessary automation. In doing so, we rely on adapted tools, proven methods, a leading knowledge centre and – above all – specialist staff
who are fully committed to delivering results.
Result-driven HR
Our mission? Result driven HR. We excel in HR services that drive your business performance.
HRSupport for all of your
HR processes
Tax & LegalTax and social-legal support
PayrollEfficient payroll calculations
and administration
LearningPurposive training courses allow HR employees to shine
Technology ServicesAutomation of all payroll and HR processes
ConsultingTargeted and sustainable advice on Payroll, Tax & Legal, Reward, HR Projects and International Employment
OutsourcingPayroll solutions, offering various outsourcing levels.
From SaaS (Software as a Service) to full Business Process Outsourcing
corporate
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2,000HR PROFESSIONALS
28 COUNTRIES
70 YEARSPAYROLLHR TAX & LEGAL
€ 262 millionTOTAL TURNOVER 2014:
OF EXPERTISE
INTEGRATEDSOLUTIONS
REGIONALOFFICES IN BELGIUM
1,350,000PAYSLIPS PER MONTH
54,000CLIENT BASE
OUTSOURCING
TECHNOLOGYSERVICES
LEARNING
CONSULTING
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Payroll Services AllianceSD Worx has its own branch offices in Belgium, The Netherlands, Luxembourg, France and Germany. The company is a co-founding member of the Payroll Services Alliance, the organisation that pools the strengths, experience and expertise of the biggest European players in the field of payroll calculation:
• SD Worx (Western Europe), • Aditro (Northern Europe), • Elanor (Central and Eastern Europe), • Cintra (United Kingdom and Ireland) • Trianon (Switzerland) and Seresco (Southern Europe).
The company formerly known as Landbouwkrediet bought shares in
Centea mid-2011. After an intensive period of data migration and
integration, the two medium-sized bank insurance companies merged in
April 2013 to create Crelan. The cooperative bank immediately gave
its HR policy a makeover.
“Their solid reputation, years of market
leadership, expertise and formal long-term
commitment regarding the suggested solution
certainly played a role when we chose
SD Worx. Otherwise, we would not have
switched with bag and baggage.”
payroll hr
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Trust in long-term commitment was the decisive factor for Crelan
“In a merged company, all the actors
contribute to the mix with their
expertise, strengths and characteris-
tics. Our priority was to create an
organisation in which everyone could
feel at home again and could be
deployed based on his or her talents.
A solid foundation
A merger implies a new entity, with an
identity and culture, and consequently
also the development of a common
HR policy: harmonisation of staff
statutes as well as working and wage
conditions; definition of functions, roles
and responsibilities; and development
and implementation of common HR
management systems such as
recruitment, assessment and training.
We took care of this crucial foundation
ourselves.
Inadequate tools
Our workforce nearly doubled as a
result of the merger. This meant that
the available HR support tools were no
longer adapted to our size. Rather than
adjusting an inadequate system, we
surveyed the market for alternatives in
late 2013.
Looking for the whole picture
We wanted to integrate as many HR
applications as possible. Think of the
payroll processing and management
of HR data, including the so-called
soft HR processes such as recruitment,
evaluation, internal transfer and
succession management. Easy
access for the purpose of modifying
certain elements of one’s own data;
the ability to offer alternative forms of
training such as e-learning; an
automated support of the evaluation
cycle; seamless internal and external
recruitment with a link to social media;
training for our employees and for the
independent agents and their
employees ... These are some of the
demands we place on an integrated
solution.
Stronger with a partner
SD Worx was able to offer us a single
streamlined solution, on the strength of
their own systems and partnerships
with leading software vendors. They
control that side of the collaboration
and act for the software suppliers as a
single third party. This is very con-
venient, especially if your own HR and
ICT people are also involved in the
project. We gave SD Worx the green
light halfway through 2014.
Impossible to do from scratch
For practical reasons, January 1st was
chosen as the date for the move to a
different payroll service provider. After
six months of intensive cooperation,
that transition went smoothly.
The further roll-out followed an equally
tight schedule. It involved pumping all
the data into the platform and launching
our talent management tool. Based on
our experience to date, we are
confident that after just one year we will
have the HR platform that we had in
mind. Developing it ourselves would
have been prohibitive and impossible to
achieve within that time frame.”
Crelan nv
Established in: 2013
Employees: 1,007
Branches: 778
Services provided by SD Worx
Payroll Services
X-Tend
HR software Cornerstone OnDemand
Stephan LeyssenManager of HR, Organisation and Complaints at Crelan
” SD Worx was able to offer us a single streamlined solution for HR and payroll, on the strength of their own systems and close partnerships with leading software vendors.”
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“From the get-go SD Worx demonstrated that its
reputation was justified, in terms of consultancy as
well as software solutions. Now that we are rolling out
the reporting tool Cubes, for example, we are looking
forward to the benefits for our payroll management.”
Under the umbrella of the Moroccan Groupe Banque Centrale Populaire, Chaabi Bank has been focussing on the Moroccan community in Europe
ever since 1972. The bank also added a European passport when it
set up ‘Chaabi Bank Europe’ in 2007, opening one branch after the other.
The payroll is monitored locally in each country. However, in order to
harmonise the reporting of all the European branches and centralise
payroll management, the bank decided to contract SD Worx.
The green light was given for the French payroll in early 2014.
payroll tax & legal
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Chaabi Bank deploys payroll and HR across borders
“SD Worx scores way above the
competition on the Belgian market.
This is an assurance of quality par
excellence. It also gave us the
necessary confidence to outsource
payroll and personnel administration
for our 240 French employees.
The transition process was very
smooth. They listened attentively to
our concerns. Deadlines were met
with great precision. And SD Worx
provided dedicated contact persons:
in addition to being efficient, it
especially creates a pleasant
collaboration.
Always ‘spot on’
We can always turn to our contacts,
even for very specific legal or
regulatory advice. For instance, they
helped us decipher the “déclaration
sociale nominative” (DSN - electronic
payroll reporting). These new
administrative HR requirements are in
effect since 1 April 2015 for all
enterprises in France. They required a
great deal of adaptability, from us as
well as from SD Worx. Also, we
regularly appeal to the Tax & Legal
division of SD Worx for other
international legal advice.
A suitable software platform
A new payroll manager also comes
with new software and tools.
Fortunately, SD Worx demonstrated
that its strong reputation was
justified. Especially Cubes – a
cross-border reporting tool – got us
over the hurdles. That software is
perfect for our international payroll.
The Cubes management is fully
automated and centralised, taking
into account the specific regulations
applicable in each country. In one fell
swoop, everything has become much
more efficient.
With Cubes we will gain a wealth of
insights which we can develop into
specific action plans. To monitor the
balance between men and women
for example; or to harmonise the
differences in working hours between
countries.
Looking forward
Our collaboration here is clearly a
long-term partnership. At the
beginning of 2015, for instance,
SD Worx took charge of our payroll in
Spain and Germany. The United
Kingdom, Italy, the Netherlands and
Belgium will be next in the course of
2016. Still a lot of work ahead, but
our first partnership year holds many
wonderful promises for the future.
Chaabi Bank
Established in: 1972
Employees in France: 240
Employees in Europe: 360
Services provided by SD Worx
Managed Payroll Services in
3 countries
Cross-border reporting via Cubes
Karine GoldenbergHead of Human Resources at Chaabi Bank
” SD Worx was able to present us with the perfect innovative solution to manage our payroll all over Europe.”
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” We were often taking decisions based on a gut feeling. As we grow, however, this has become difficult to sustain. Professionalisation and objectivity are a must.”
Joost HamGeneral Manager
at De Vlietoever wzc
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SD Worx future-proofs De Vlietoever
“Over a period of about 15 years, the
number of our residents had more
than doubled, from 38 to 81. The
number of staff increased accordingly.
This is due to the fact that most
residents are more heavily care-depen-
dent, but also because it is prescribed
by the legislation. At De Vlietoever we
employ home care specialists, nurses,
kitchen and cleaning staff, paramedics
and activity organisers.
The perfect tandem
Ten years ago, due to lingering issues
with our former payroll service provider,
we looked for another solution. It was
crucial that our new partner should
have extensive expertise in our sector.
SD Worx was able to demonstrate
such expertise with ample references.
In addition, the rapport with the payroll
consultant was immediate. She now
knows our company through and
through. Her tips and advice are
always valuable. This successful
partnership gave us the incentive to
reshape our organisation together.
Growing pains
This reorganisation was inevitable. We
had been wearing various hats and were
often taking decisions based on a gut
feeling. As we grow, however, this has
become difficult to sustain. Especially in
view of the fact that in 2016 we will be
opening a second residential care centre,
which will double our workforce once
again. Professionalisation and objectivity
are a must.
A smooth transition
We began by tackling the basics: our
mission and vision. Both were no
longer in line with the evolution of care.
Everyone was subsequently given a
defined job, which is now set out in job
descriptions, competency profiles and
the organisational chart. In addition,
two head nurses will from now on
conduct performance appraisals. We
incorporated all that in a process. We
wanted to coach internally, but lacked
the expertise, so we learned to lead
and conduct evaluation interviews.
The practical side
We are currently rolling out all these
plans in the organisation. Whenever we
have questions or require an adjust-
ment, we can always rely on SD Worx.
Our next challenge will be to replicate
the implementation of this blueprint in
our second establishment. Considering
the way the current project is going, we
are confident that we are ready for it.
A collaborative partner
SD Worx even went a step further by
making us aware of grant opportunities,
something we had never considered.
They also took care of the applications
and the follow-up. This financial
support allowed us to recruit a
strategic manager among other staff. In
my opinion, it goes to show once again
that SD Worx is a committed partner
who really collaborates with you.”
De Vlietoever wzc
Established in: 1999
Empoyees De Vlietoever: 52
Residents De Vlietoever: 81
Services provided by SD Worx
Payroll Services
HR audit
Organisation development
Change guidance
Training
The number of people moving into residential care complex De Vlietoever
has been rising steadily. A second establishment is therefore due to
open in 2016. But before the company could offer others the best
possible home, it also had to make sure its own house was in order. For
that, in collaboration with SD Worx, it gave the whole organisation and HR
policy a full makeover.
“Our dedicated payroll consultant at SD Worx
has known our company for a long time and
better than some employees. This successful
partnership gave us the incentive to reshape
our organisation together. Now that we have
performed this strategic assessment, we are
prepared for our second establishment.”
payroll hr
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New Belgian Shell payroll system swiftly and expertly installed
“Despite the Shell Group’s decision
to work with preferred suppliers, we
needed a Belgian HR service provider
with extensive experience in the local
market because of a number of
specific requirements regarding
payroll services.
We issued an invitation to tender for
that purpose. The aim was to link our
payroll system to the international
Shell system. Competitive pricing
was also one of the decision criteria.
Mutual communication
SD Worx scored the best. For our
wage calculations which until then
had been running as a stand-alone
system, they built in SAP a single
platform that could ‘talk’ to Shell’s
platform. No mean feat for a complex
organisation with many different wor-
king statutes and joint committees.
In addition, many processes were
automated, modernised and aligned.
In a way, the logic that used to be in
the minds of HR staff was turned into
sofware.
Success built on cooperation
Our new payroll system had to go
live on 1 January 2015, within a mere
nine months. SD Worx, too, was
conscious that this was a tight dead-
line and assigned an experienced
team to the task.
As a customer, it is great to feel that
you are being taken seriously. They
responded quickly to questions and
took action whenever issues popped
up.
Feedback was a two-way street.
Working together was enjoyable be-
cause of such interaction. It was clear
that we were aiming towards the
same goal. This was a key element in
the successful implementation of this
project.
A seamless transition
Our internal communications also
played an important role in the
smooth implementation. In such a
drastic transition, and even though it
was happening behind the scenes,
all our employees had to be well
informed. Yet, the transition has been
seamless and accurate, and no one
noticed anything. Mission accom-
plished.”
Belgian Shell
Established in: 1930
Employees: +/- 400 (Belgian Shell
and CRI), spread over 3 sites
Services provided by SD Worx
Payroll Services
SAP
Payroll on site
Legal Consultancy
The HR systems between Belgian Shell, its subsidiary CRI and the
parent company had to be aligned in the context of a global agreement.
And this had to be done within a very short time frame.
“Only with a stable partner very knowledgeable
in their work can a project of such magnitude
be implemented swiftly, efficiently and
successfully. Expertise and a proactive
approach are required to make sure no time is
lost. SD Worx offered both.”
payroll tax & legal
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New Belgian Shell payroll system swiftly and expertly installed Wicher Groen
Country HR Manager Belgium & Luxembourg at Belgian Shell
It was clear that we were aiming towards the same goal.”
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”
Thomas BuermanCampus Director at
Ghent University Global Campus ” SD Worx translated very specific and technical subject matter into understandable and concrete answers.”
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Intercontinental advice for new UGent campus
“Unlike other projects, UGent did not
send any temporary staff to the
South Korean campus. The staff had
to be employed for several years in an
organisation specifically established
for that purpose. Together, staff
members also represented a variety
of work statutes and nationalities.
A one-of-a-kind project, which meant
that we could not rely on our own
experience or that of other Belgian
universities.
Within reach
Initially, I contacted a large HR
services provider with branches all
over the world. Having received an
answer from London, I suspected
that this would be a rather difficult
process, over too great a distance.
I heard many good things from our
personnel department about working
with SD Worx and the quality of their
tax and legal advice. I also discovered
that SD Worx had already implemented
a similar project in South Korea, even
though Asia is not one of their
territories.
Up to the challenge
The clock was ticking and resources
were limited. Consequently, I could
not afford a lot of trial and error. When
recruitment started in South Korea, in
early 2014, I called in SD Worx. What
gave me the confidence to do so?
Their thorough knowledge of UGent,
the Belgian and European legislation,
our pleasant working relationship and
their visible ambition to sink their
teeth into the challenge.
From specific to generic
How are social security and taxation
organised in South Korea? SD Worx
investigated those aspects in detail for
the three groups we employ there.
Firstly for myself, a civil servant and the
only person to remain on the UGent
payroll. Secondly, for Belgian em-
ployees who are paid in South Korea.
And finally for non-Belgian employees
who are on the South Korean payroll.
For example, we have staff from
Thailand, India, China and Greece.
Since it is impossible to give individual
advice covering each nationality and
situation, SD Worx produced a general
report for that third group.
Removing uncertainties
SD Worx translated this very specific
and technical subject matter into
understandable and concrete
answers for our employees. What is
the amount of their social contribu-
tion in South Korea in terms of e.g.
pension or health insurance? In which
country should they be paying taxes?
Are they required to have their names
struck off the National Register? Are
there tax benefits in South Korea to
which they are entitled? What is their
situation in this respect upon their
return? The consultancy services
provided by SD Worx allowed us to
eliminate many uncertainties.”
UGent
Established in: 1817
Employees at UGent: +/- 9,000
Students at UGent: > 41,000
Faculty departments: 117
Employees at Ghent University Global
Campus: 20
Services provided by SD Worx
International Employment Services:
Tax & Legal
Training
Since September 2014, students can sign up for a bachelor’s degree
course in Bioscience Engineering at the Ghent University Global Campus
in Incheon, South Korea. An international staff of professors, researchers and administrative
personnel is employed there. SD Worx advised UGent on
employment in South Korea.
“SD Worx did not claim beforehand that they
were the perfect partner with a ready-made
solution for a South Korean context. They
knew, however, that because of the expertise
they have built in Europe, they could propose
their services. This, combined with their
ambition to sink their teeth into this challenge
and their pioneering spirit, gave me every
confidence that they would successfully
complete this project.”
tax & legal
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Frank RudolfDirector Payroll at PAREXEL
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” With fewer partners,our European payroll is lighter, clearer and more efficient.”
PAREXEL international payroll considerably simplified
“We operate on a global scale as one
of the largest players in this market.
Our position remains solid, particularly
in Europe which is home to the second
largest biopharmaceutical market in the
world. When I started working for
PAREXEL, SD Worx was only mana-
ging PAREXEL’s payroll in Germany,
our largest entity within Europe.
Less is more
Having offices and research centres
across 24 European countries meant
dealing with 24 different payroll
providers – a rather inefficient way of
doing things. In addition, we experien-
ced issues with compliance, and data
security privacy violations on a regular
basis. While data privacy is of the
greatest importance in our research
activities, we also want to guarantee
the same level of protection of privacy
for our employees.
Weak links
It was clear to us that we had to
eliminate as many risks and weak links
as possible, and that the solution
would hinge on scalability. Our
invitation to tender resulted in ten
candidate providers. We then conduc-
ted an in-depth analysis based on a
range of parameters. Some of the
things we were looking for were
compatibility with our global systems,
and the best price-performance ratio.
Data protection as a priority
The final decision was made on the
basis of the level of protection needed
for our payroll data. Only the highest
security standards would do. We
selected SD Worx for the payroll
services in fifteen countries. The other
nine – mostly located in Central and
Eastern Europe – are serviced by a
different provider, who proved to be the
best option for this region at that time.
Well-oiled and running
As soon as we had made our final
decision, the project took off. The full
implementation of SD Worx in those
fifteen countries only took one year to
complete, from August 2013 to June
2014 – well within the agreed time
frame. Another major aspect: the entire
transition went smoothly, without any
interruption.
A satisfied customer
To us, the benefits are clear: we were
able to reduce the number of providers
in Europe from 24 to only 2. Our
workload for staff involved in payroll
processing has been reduced, and is
more clearly defined. Our payroll
activities in Europe have also become
much more efficient. In addition, we
have made significant improvements to
our reporting systems, both locally and
globally. This has enabled us to meet
all compliance requirements stipulated
by international regulations.”
PAREXEL
Established in: 1982
Employees worldwide: +/- 17,200
Employees in EMEA: +/- 7,000
Employees in the Americas:
+/- 5,500
Employees in APAC: +/- 4,700
Services provided by SD Worx
Managed Payroll Services in 10
countries
Comprehensive Payroll Services in
5 countries
The more parties are involved, the more complex the partnership
becomes, and the greater the margin of error will be.
PAREXEL – an American contract research organisation (CRO)
that conducts clinical research in the biotechnological and medical sectors worldwide – is fully aware
of this. Read on to find out how PAREXEL manages its
payroll in Europe.
“SD Worx takes a very proactive approach.
Working with a partner as committed as
SD Worx is a true pleasure.”
payroll
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As an SME on a steady growing curve, Quant ICT continuously
adjusts its policy to a changing staff situation. The Leuven based expert
in integrated and secure telecommunications wanted to set up an employment programme for
people over 45. Naturally, Quant ICT consulted SD Worx, its faithful
partner ever since 1999. A comprehensive HR audit aimed at securing the future and the Future of
Work was immediately launched.
“Whether for the practical or the strategic and
legal side of things, we can always rely on the HR
expertise of SD Worx. Our contacts know the ins
and outs of our organisation, which allows them
to perfectly anticipate our needs. By providing the
right tools, for example. Such tools are also far
ahead of their time in terms of ease of use.”
payroll tax & legal hr
22
Quant ICT builds its future HR policy
“SD Worx meticulously scrutinised our
staffing policy on the basis of questi-
onnaires and interviews. Our people’s
work schedules are extremely flexible
and organised in shifts. And with an
average age of 35 years, we are also
a ‘young’ company. As revealed by
the audit, this creates specific HR
expectations. A good balance
between work and private life, better
internal communication, individual
opportunities for training and parental
leave: our employees know what they
want. Based on the audit, SD Worx
will now help us devise new policies,
update our work rules and employ-
ment contracts, and so on.
Tailored advice and support
SD Worx supports the HR policy of
Quant ICT in all its aspects. By
following ‘People Management’
courses, our employees have already
had the opportunity to develop into
excellent team leaders, for example.
For the practical side of things also,
SD Worx was ready to give us the
necessary knowledge and expertise.
This allowed us to update our
administrative documents in compliance
with the latest legal developments.
After all, SD Worx monitors all legal
changes closely and we are more than
happy to make use of that service.
Innovative tools
Available anytime and anywhere, fast
and easy: our employees set high
standards for any system that would
handle HR. SD Worx was able to
grant those wishes. For instance,
everyone agrees on the user
friendliness of ‘My Work and Me’ in
managing payslips and leave
requests. The next step promises to
be similarly worthwhile: we are further
improving the efficiency of our HR
policy by supplementing it with an
integrated application for the reimbur-
sement of expenses.
Continuous assessment
Our contact persons at SD Worx
know our organisation through and
through. They also have regular
personal contacts with our em-
ployees. This enables them to
perfectly understand our needs with a
minimum of explanation, or to suggest
the right tools. A very reassuring way
of working and the perfect basis for a
modern HR policy that works.”
Quant ICT
Established in: 1999
Employees: 30
Turnover: 8.5 million euro
Services provided by SD Worx
Payroll Services
HR audit
HR & Legal Consultancy
HR Self Service
Performance Dashboard
Training
Pierre-André GuillaumeCEO of Quant ICT
” SD Worx perfectly understands our needs with a minimum of explanation.”
23
CHU Dinant Godinne zooms in on staff engagement
“SD Worx managed to design an
engagement survey fully tailored to
our needs. As an academic institution,
we set very high standards when it
comes to methodology for example.
As a medical player, however, we
deal with a complex staffing situation
that you will not find in any other
sector. In our view, the fact that the
SD Worx database allowed us to
benchmark our results was also a
unique asset on the market.
A complex HR landscape
Gauging the satisfaction of more than
2,700 employees is not an easy task,
regardless of our sector’s idiosyncra-
sies. Under normal circumstances, we
have as many as 160 different types
of schedules. Thousands of physi-
cians and nurses work day and night
in shift systems with flexible hours.
About half of them work part time.
And a sixth of our people ensure a
permanence in holiday periods.
On top of that, 110 new medical
residents are temporarily placed in
our services every 6 months, while
we train 1,000 interns annually. And
our permanent staff must be able to
constantly retrain as well. To sum up
the situation: hard to beat such a
level of complexity.
A clear view on the matter
SD Worx got as many as 70% of our
employees to take part in the survey
by explaining in detail the how and
why of the research. The detailed
analysis immediately revealed the
specificity of our sector. For instance,
the involvement of our employees
ranks higher than satisfaction with
their job. Implausible, certainly, yet
perfectly understandable considering
the close bonds our employees often
forge with patients.
The survey also showed salary,
internal communication and growth
opportunities to be the main points of
concern.
Every single result was substantiated,
giving us the necessary basis to draw
up specific action plans and send a
breath of fresh air blowing through
management.”
CHU of Dinant-Godinne
Established in: 1965
Employees: +/- 2,700
Interns: > 1,000
Turnover: 250 million euro
Services provided by SD Worx
Engagement Survey
Following an extensive merger, the teaching hospital “Centre Hospitalier Universitaire (CHU) Dinant Godinne”
was about to embark on a major strategic process. In order to do so,
the university hospital needed a set of HR values in which all employees
would feel included. A new management approach was also
necessary. All this had to rest on a solid foundation, however. SD Worx
therefore conducted an engagement survey directed at all the employees.
“Thanks to the rich database that SD Worx has
built up over the years, we were able to
benchmark our results against other large
companies in Belgium. We considered such
expertise to be a unique advantage.”
hr
24
CHU Dinant Godinne zooms in on staff engagement
Didier CloquetHuman Resources Director at CHU Dinant Godinne
SD Worx managed to design an engagement survey fully tailored to our needs.”
25
”
A single point of contact, one solution, four countries
“Even though we share the same
activities, Belgium, Netherlands,
Luxembourg and France were
operating as separate entities. We
wanted to bring HR systems into one
single platform; get rid of all kinds of
systems, and be done with the
different forms of reporting. We were
looking for a party that could manage
that effectively at European level. Such
integration would offer many advanta-
ges, but simultaneously create a series
of challenges.
Copy-paste: not an option
International HR is a complex tangle,
with major differences in tax and
contributions systems for instance.
Even wage calculations differ. Payroll
providers only exist in Belgium. Just
copying an excellent solution to apply
it in another country was not an
option, since there is no such thing as
“one single system on the market”.
One point of contact
But SD Worx definitely has the
expertise and the partners to offer the
right solution – for us – at European
level. In addition, they act as a single
point of contact. For us, that is a huge
asset. We see our regular contact on a
regular basis and get quick answers
when needed. Changes are made
swiftly and new software implemented
smoothly.
Unnecessary bells and whistles
In Belgium, SD Worx was already
taking care of our payroll... to our
satisfaction. We naturally extended
that service to the other three
countries where we operate. We then
looked for a centralised solution for
time and attendance and issues such
as digital documenting, employee
self-service and management
self-service. Obviously, we requested
and compared quotes from multiple
providers. And we were presented
with other solutions, some perhaps
even with more functionalities than
what we got from SD Worx, but at
exorbitant prices. Only major corpora-
tions with at least ten or twenty
thousand employees can justify such
costs. In its proposal, SD Worx took
our needs and company size into
account. That is why the SD Worx
offer was the best choice.
It’s all about the basics
In the beginning, we under-used the
capabilities of reporting at European
level. There were still teething pains
when we really needed that function,
but SD Worx quickly incorporated our
comments into a solution. In addition,
time and attendance is also a very
user-friendly tool. Work schedules and
hours worked are automatically and
accurately entered into the payroll. This
is crucial, since it is not enough to
have plenty of fancy HR tools: if you
do not pay employees correctly and
on time, all your technology and efforts
are pointless.”
EFR bv
Established in: 2007
Active in: Belgium, the Netherlands,
Luxembourg and France
Employees: +/- 2,600
Filling stations: 1,250
Services provided by SD Worx
Managed Payroll Services in 4
countries
Cross-border reporting via Cubes
Time & Attendance via Protime
The general public knows the retail organisation EFR – formerly Delek
– especially through its brands Texaco and BP. Its wide network of
filling stations and shops ensure that customers don’t run out of fuel, food and non-food products while on the
go, in Belgium, the Netherlands, Luxembourg and France.
“When switching to a new system, we
expected everything to run correctly, smoothly
and without glitches. We also chose SD Worx
for that reason. It is true that they have
long-standing cooperations with their partners.
Their expertise creates trust and offers the
greatest guarantee of success.”
payroll
26
A single point of contact, one solution, four countries Paul Siemelink
Vice-president Human Resources & Office Facilities at EFR
SD Worx offered the solution with the best value for money.”
27
”
Els NeyensTalent Manager at Cofely Services
28
” We followed a demanding yet flawless trajectory in order to implement FIP.”
Cofely Services will graduallyroll out flexible remuneration
Cofely Services is part of the French
energy giant GDF Suez. We employ
just under 2,000 people and are a
market leader in integrated facilities
solutions. As far as payroll is
concerned, we have worked well for
many years with SD Worx and we
knew they were the pioneer in the
area of flexible remuneration.
Towards a future-oriented
reward policy
Attracting and retaining a sufficient
number of technicians and engineers
is a major challenge. We are very
much involved in the development of
our employees, but it goes without
saying that having an attractive
remuneration package is also a key
factor.
For us, moving away from the
one-size-fits-all principle to meet the
individual needs of our employees
was a logical step in the development
of a future-oriented reward policy. In
the autumn of 2013, we sat at the
table with SD Worx for the first time
in order to discuss the possibilities
offered by FIP.
A demanding yet flawless
trajectory
We had to follow a demanding yet
flawless trajectory in order to
implement FIP. The process started
with a detailed inventory of all our
existing benefits. SD Worx then
determined which of those benefits
could be included in a FIP. Based on
a comprehensive checklist, we later
composed the first package of
benefits. It really contains something
for everyone: from bicycles to
multimedia and pension savings, and
even a donation to a charity. We will
soon examine the package to
determine how we should adjust it
and which benefit combinations are
the most popular.
The roll-out of FIP was accompanied
by information sessions in all our
regional branches, from Ghent to
Liege. SD Worx was always at hand
to provide further clarification on the
calculation method of specific
benefits and to answer any other
technical questions.
First in the sector
Employees were quite surprised by
the wide range of benefits and their
corresponding monetary value. The
fact that we were able to set this
awareness process in motion is a
good thing. However, we also want
to make the most of this innovative
remuneration system to get them
thinking about smarter ways to
address their mobility.
Eventually, all of our 2,000 employees
must have access to FIP. The fact that
we were the first in our industry to
implement this innovative reward
concept is a bonus. FIP does require
some explanation during recruitment
interviews, but the concept is invariably
greeted with enthusiasm.”
Cofely Services
Established in: 1963
Employees: +/- 2,000
Services provided by SD Worx
Payroll Services
Flex Income Plan
SAP
Training
Last spring, 150 executives from Cofely Services got acquainted for
the first time with FIP, short for Flex Income PlanTM. They put their remuneration package together in
the FIP online shop. Ultimately, the aim is to swing open the doors
to the virtual store to allow access to all employees.
“Attracting and retaining a sufficient number of
technicians and engineers is a major
challenge. And it goes without saying that
having an attractive pay package is also a key
factor. For us, moving away from the one-size-
fits-all principle to introduce the innovative FIP
in the organisation was a logical step in the
development of a future-oriented pay policy.”
payroll hr
29
To support our sustainability ambitions,
SD Worx is a member of:
• Business & Society, the reference network for
companies which, in collaboration with various
stakeholders, strive to develop a sustainable society.
• KAURI, a consultation platform for non-governmental
organisations that are endeavouring to achieve a
sustainable global economy, and for enterprises.
• Global Compact Network, an initiative of the
United Nations designed to connect companies,
trade unions, academics and civil society. The Global
Compact is a call to companies around the world to
align their strategies and operations with ten UN
principles in the areas of human rights, labour,
environment and anti-corruption.
This membership also requires that SD Worx draw up
an annual progress report on corporate social
responsibility. To read more about the corporate social
responsibility of SD Worx, please go to
www.sdworx.com/CSR
The three pillars of corporate social responsibility (CSR) – People, Planet
and Profit – are given priority at SD Worx.
The emphasis is on 'People', the pillar that is closest to our core business.
However, our activities also focus on Planet and Profit.
Sustainability ambitions
csr
30
31
Corporate Governance
Corporate governance is an inextricable part of the ‘core’ of our
mission. As an organisation, we adhere to the principles prescribed by good
corporate governance. In doing so, we abide by the guidelines on the
constitution and structure of the administrative bodies, the boardroom
style and in mutual interaction.
In addition, we fully endorse a number of principles that are typical of SD Worx and the way we operate, at every level.
In practical terms, these include an open mindset, dialogue, and a critical
but positive attitude. These go hand in hand with constant attention to
ethically responsible entrepreneurship and constructive collaboration.
General Assembly
Authorities
The General Assembly’s main tasks are as follows:
• changing the articles of association;
• appointing and dismissing directors and members of
the supervisory board and discharging from services
rendered;
• approval of the budget (NPO) and annual accounts;
• and profit appropriation (limited company).
Board of Directors
Task
The Board of Directors has a strategic and control function
and ensures that the company operates with maximum
efficiency. The Board of Directors outlines the mission,
strategy and general policies. Decisions concerning orga-
nisation structure, reorganisation, cooperation agreements,
mergers and take-overs are also part of its assignment.
Finances
The Board of Directors oversees finances and investments,
checks the integrity of financial reporting and monitors
internal auditing. The budgets, spending patterns and
execution of actual projects in line with strategic objectives
are also monitored by the Board, as are the performance,
remuneration and evaluation of members of the Executive
Committee.
Communication
Each year the Board of Directors compiles a detailed
annual report, which outlines the company’s current status,
possible risks and future perspectives. It highlights actual
examples of corporate governance, provides an overview
of the financial position and reflects the activities of the
Board of Directors and the organisation.
Structure of the Board of Directors
The Board is small enough to promote an efficient decision
making process and large enough to embrace the neces-
sary experience and knowledge from the various disciplines
relevant to the company amongst its members and to
safeguard continuity in the event of changes in its structure.
SD Worx consequently aims to appoint minimum eight and
maximum twelve directors.
The structure of the Board is defined on the basis of the
required diversity and complementarity. The Board consists
of independent directors, with the exception of the
Managing Director.
More information on:www.sdworx.com/corporategovernance
corporate
32
Corporate Governance
33
Directors on 1/1/2015from left to right: • Luc Luyten, • Patrick De Vos, • Filip Dierckx (President), • Frederik Van Bladel, • Steven Van Hoorebeke (Managing Director), • Riet Docx, • Dirk Collier, • Marc Binnenmans
The 2014 figures show that our new strategy is bearing fruit."”
� Sige Marien Director Consulting
Hector � Vermeersch Chief Financial Officer
Eric Janssens � Director SME
Anne-Marie Cootjans � Corporate Services Officer
Tom Wouters � Chief Information Officer
Steven � Van Hoorebeke Managing Director
34
ExecutiveCommittee
corporate
In the first half of 2014, the Executive Committee teamed up with about 50 colleagues from different divisions to assess whether the course we were
all following was still the right one. And we have not radically changed
our course. We remain a top player in payroll services with a wide range of
HR services and solid international ambitions. We have, however, defined major focus areas. The customer is at
the centre of everything we do – in our processes, products, solutions,
approaches and communication.
Audit committeeThe SD Worx audit committee verifies that the organisation operates correctly
and efficiently. It monitors internal and external inspections, the efficiency of the
audit department, the appointment, dismissal and remuneration of the internal
audit manager. It checks reports, responds to questions and acts as a
communication platform or intermediary between the auditor and the Board of
Directors.
The audit committee draws up a long-term programme and is given access to
information sources which fall under its specific authority.
Strategic committeeThe SD Worx strategic committee supports the Board of Directors in its strategic
and control function and focuses on its mission, policies and long-term
objectives. If necessary, internal or external advice is sought or experts are called
in.
Remuneration and appointment committeeThe SD Worx remuneration and appointment committee formulates proposals
concerning the appointment, remuneration and evaluation of the directors,
managing director and executive management, and monitors the market
conformity of remuneration. It also deals with all direct questions concerning
remuneration and appointments, and sets out the overall remuneration policy.
� Hilde Haems Chief HR Officer
� Thierry Vanbever Director International
� Harold Rijckaert Director Large Enterprises
Steven � Van Hoorebeke Managing Director
Composition:
Frederik Van Bladel - chairman
Filip Dierckx
Patrick De Vos
Riet Docx
The Board of Directors is assisted by three committees: the audit committee, the remuneration and appointment
committee and the strategic committee. They assist the board with specific advice to enable it to make well-
informed decisions and fulfil its task as a monitoring and control body as successfully as possible.
Composition:
Filip Dierckx - chairman
Luc Luyten
Dirk Collier
Composition:
Luc Luyten - chairman
Filip Dierckx
Committees
Not in the photo: Koen Goyvaerts Chief Sales &
Marketing Officer
35
36
37
SD Worx is celebrating its 70th anniversarythis year. We could write a whole book about it, but since a picture is worth a thousand words, we summarised our story into a film. It is also an opportunity for us to look ahead and share with you our plans and ambitions. We invite you to discover it on www.sdworx.com/70years."
”
Assets
� Intangible fixed assets &
consolidation differences
� Tangible fixed assets
� Financial fixed assets
Fixed assets
� Receivables on +1 year
� Receivables on -1 year
� Investments
� Liquid assets
� Accrued and deferred
accounts
Current assets
Total assets
Liabilities
� Equity capital (excl. result)
� Minority interest
� Results for the year
Total equity capital
� Provision for risks &
liabilities
Total of provision
� Debts over +1 year
� Customer funds
� Trade debts
� Debts concerning tax &
remunerations
� Other debts
� Accrued and deferred
accounts
Total debts
Total liabilities
Result
� Total turnover
� Financial profits from
operations
� Financial profits from
assets
Profits
� Personnel & fees
� ICT costs
� Office & administration
costs
� Promotion costs
� Depreciations
� Miscellaneous costs
� Taxes
� Minority interest
Costs
Profit
Consolidated profit-and-loss account of the
SD Worx group (in 1,000 euro) in accordance with Belgian Generally
Accepted Accounting Principles.
Consolidated balance sheet of the SD Worx group
(in 1,000 euro) in accordance with Belgian Generally Accepted Accounting
Principles.
2014 2013
7,492 11,151
74,000 81,044
1,075 1,021
82,567 93,216
5,335 2,414
34,887 32,722
1,229,294 1,175,306
565,489 499,086
16,431 14,052
1,851,436 1,723,580
1,934,002 1,816,795
2014 2013
330,332 328,277
2,675 2,201
27,234 2,054
360,242 332,533
3,486 3,703
3,486 3,703
146 234
1,509,479 1,425,730
13,481 10,208
42,072 35,693
856 4,951
4,241 3,744
1,570,275 1,480,560
1,934,002 1,816,795
2014 2013
261,975 255,920
16,191 14,111
10,544 3,725
288,710 273,756
202,911 213,462
12,680 13,982
17,293 17,170
5,537 5,208
13,866 13,310
1,829 3,436
5,742 3,944
1,618 1,190
261,476 271,702
27,234 2,054
Annual figures 2014
The consolidated financial statements of the SD Worx
group contain a concise summary of the annual
financial statements of the different entities of the
group. These financial statements give a true picture
of the assets, financial position and results of the
SD Worx group. The statutory auditors have given
their unqualified approval to the different annual
financial statements.
Composition of the SD Worx group on 31.12.2014
SD Worx vzw
SD Worx for Society vso cvba
SD Diensten nv
ZENO nv
IVD nv
LWB nv
Sodeco nv
SAK nv
Protime nv
Hazel Heartwood cvba
SD Worx sa (Luxembourg)
SD Worx Nederland bv
SD Worx sas (France)
SD Worx GmbH (Germany)
corporate
R.P. Steven Van Hoorebeke. Printed on eco-friendly FSC paper.38
Composition of the SD Worx group on 31.12.2014