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CUSTOMERS

SOCIETY

engagement annual report 2015 EMPLOYEES

SUSTAINABLE GROWTH IN THE FUTURE


SD WORX IS FULLY ENGAGED

SD Worx celebrated its seventieth anniversary in 2015, a joyful event that we did not allow to go by unnoticed. We strengthened our position over the years until we became the market leader in Belgium, our home base. A position that we have maintained for years, which is quite a feat in a market that is under great pressure. Once again, this illustrates the huge strength of our Belgian team. This is also an achievement that was only made possible by the enthusiasm of every SD Worx employee. This strong drive is what makes us push back boundaries, again and again. On many different fronts, but we are mainly opening up our markets geographically. Internationalisation is desperately needed, because we will find our biggest growth opportunities abroad. Our customers’ business is also increasingly on an international scale. 3


International expansion, with our partners 4

Since the turn of the century, we have been

2015 will indeed be remembered in our company’s history as the

The results speak for themselves. This refocused strategy is work-

expanding internationally by setting up new

year of a crucial breakthrough in our international expansion. As

ing. 2015 was again an excellent year for SD Worx, with a few

branches in the Netherlands, Luxembourg,

it happens, in August we welcomed into the Payroll Services Al-

memorable milestones we will describe briefly further on. Turnover

France and Germany. But also by entering

liance Ceridian, the third largest HR player in the United States.

increased for the whole group (+7.53%). Our net profit amounted

into smart partnerships a decade later with

This partnership opens the way to the North American market. In

to 38 million euro.

organisations which share the same passion

addition, Ceridian is bringing to our alliance its Dayforce platform

in what they do. This has allowed us to grow

– an HCM system with one single HR interface.

All resources right on target

Services Alliance (PSA) into a strong player

In March 2016, we are further strengthening our position with the

Without the proper resources even the most sophisticated strat-

in Europe in just five years: in 2015 we cov-

acquisition of German HR service provider fidelis HR. SD Worx

egy remains but a plan. That is why we redesigned our organi-

ered 31 European countries. The same year,

will be the second largest payroll provider in Germany as a re-

sational structure to make sure it would provide our new strategy

in partnership with the PSA, we made the

sult. In addition, we are now also present in Austria and Switzer-

with maximum support. We applied this reshuffling process to

leap from Europe to the United States and

land and we will be significantly anchoring our position on the

all levels of SD Worx, all the way up to our Executive Committee.

Canada.

German-speaking European market. Our offering also grows with

Some members received different or broader responsibilities, and

each new partnership.

we welcomed a few new faces.

On the right course strategically

There was one most notable structural change: we centralised all

We shifted up a gear in order to reinforce our international ambi-

sion called Global Services & Solutions. We combined the remain-

tions. In addition to internationalisation, we resolutely listed digitisa-

ing non-Belgian activities under Local Services & Solutions.

together with our partner network Payroll

our activities crossing more than one border into a brand new divi-

tion, strong partnerships, data and customer experience as priorities in our business strategy. A mix in which each ingredient plays a key role and contributes significantly to a successful outcome.

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Our Board of Directors also reflects our ambition to remain the

The future certainly looks international. Yet, we are not losing sight

largest HR services provider in Belgium, to further strengthen our

of our home market. Both our SME division and our Large En-

position in Europe and to do more and more business outside Eu-

terprises divisions achieved great growth figures in Belgium. In

rope. We therefore attracted three new members who have exten-

addition, our Consulting division introduced a number of product

sive expertise in management and HR.

innovations, thus maintaining momentum in the digitisation of our offering. By responding to current issues, such as the tax shift, we

On the right track Indeed, rather than follow the market blindly, SD Worx wants to take a leading role. No wonder we are really proud to have positioned ourselves as a Leader in Gartner’s global Magic Quadrant for Payroll services in 2015.

The future looks international and…

also help customers remain compliant with regulations and optimise their personnel policy. Our international growth ambitions do not prevent us from maintaining our focus on Belgium as well.

Being a heavyweight has its advantages We don’t want to be the biggest for the prestige. It is our duty to ensure that we tilt the balance sufficiently in favour of our customers, employees, partners and the society in which we operate. By

In 2015 we laid a solid foundation for international expansion for

having a certain clout, we can really make a difference in all areas.

both SD Worx and our customers. On the strategic, structural and

And that is something we committed to long ago.

operational levels, with innovative solutions like Tax & Payroll Integrated – which remarkably simplifies payroll for Belgian customers

As a robust organisation, we are also a sustainable and reliable

with international executives – and solid partnerships on two conti-

partner. Finally, in order to grow profitably, we have to continue to

nents, for example.

invest in staff, new colleagues, expertise, technology and innovation – in Belgium and internationally.

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In 2015 we laid a solid foundation for international expansion, on the strategic, structural and operational levels - STEVEN VAN HOOREBEKE, CEO OF SD WORX

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The customer counts

Thank you!

Just as we have made internationalisation a strategic pillar, cus-

We will keep reinforcing our strategy in the coming years. In prac-

tomer experience is also high on our list of priorities. Another clear

tice, both SD Worx and our stakeholders will reap the benefits. In

signal that we support our strategic pillars the proper way is that

this respect, we are fully aware that these results are attributable

we have created a staff function from customer experience, which

to the sustained efforts of many.

reports directly to our CFO. For example, every day our employees pull out all the stops to Since 2015, we measure our Net Promoter Score (NPS), which

ensure the best service level. For that, they pool their feelings and

indicates the extent to which customers would recommend SD

thoughts together, and come up with innovative ideas and solu-

Worx. The result can be between -100 and +100. Our NPS is +32:

tions. Their commitment and involvement go far. Not only to fulfil

our customers especially value having their permanent contact

the ambitions of the company, but also to make their contribution

and person of trust at SD Worx. A great figure for a service in a

to a better society. We owe them our infinite admiration and grat-

B2B environment, but that has to increase further in the coming

itude for that.

years. And we will only achieve this goal by continuing to raise our service provision and customer experience to an even higher level.

Finally, we would like to thank our customers. They entrust us with

That is definitely our ambition.

very important processes, such as payroll calculation and human resources management. In this respect, our role fluctuates between advice and system support. We do not underestimate their trust and responsibility, on the contrary. It gives us precisely the right amount of energy to raise the bar higher and higher. En this gets our customers to support our business in return.

Our Board of Directors also reflects our ambition to remain the largest HR services provider in Belgium, to further strengthen our position in Europe and to do more and more business outside Europe - FILIP DIERCKX, CHAIRMAN OF THE BOARD OF SD WORX

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Result driven HR

Payroll

Tax & Legal

HR

Efficient payroll calculations and administration

Tax and social-legal support

Support for all of your HR processes

areas of Payroll, HR, Tax and Social Law

Learning

consultancy. By way of a broad service of-

Purposive training courses allow HR employees to shine

SD Worx offers a full service package in the

fering, 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

Technology Services Automation of all Payroll and HR processes

leading knowledge, centre and – above all – specialist staff who are fully committed to delivering results.

Consulting Targeted and sustainable advice on Payroll, Tax & Legal, Reward, HR Projects and International Employment

Outsourcing Payroll solutions, offering various outsourcing levels From SaaS (Software as a Service) to full Business Process Outsourcing

Our mission? Result driven HR. We excel in HR services that drive your business performance. 10

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Throughout the US, Canada and Europe Antwerp (HQ) - Berlin - Breda Brussels - Frankfurt - Luxembourg - Paris

1 |ENGAGEMENT TOWARDS OUR CUSTOMERS

We put our customers at the

heart of everything we do. This implies that we are committed to

Payroll - Tax & Legal - HR

Consulting - Learning Technology services - Outsourcing

offering them the best possible service, tools, advice and solutions, to ensure their business thrives and grows. We achieve

this, among others things, by

   70 years

of expertise

    2,700

HR professionals

Payroll Services Alliance 12

   2,350,000

  +60,000

Payslips per month

Client base

SD Worx has its own branch offices in Belgium,

SD Worx (Western Europe), Aditro (Northern

The Netherlands, Luxembourg, France and

Europe), Elanor (Central and Eastern Europe),

Germany. The company is a co-founding member

Ceridian (United States, Canada and United

of the Payroll Services Alliance, the organisation

Kingdom), Cintra (United Kingdom and Ireland),

that pools the strengths, experience and expertise

F2A (Italy), Trianon (Switzerland) and Seresco

of the biggest players in the field of payroll

(Southern Europe).

calculation:

offering our expertise – also proactively – and continuously focusing on innovation.

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The perfect match for our customers SD Worx is not content with being just a good partner. We want to

We matched the interested companies with our staff as optimally

be the ideal partner for our customers. Just like any relationship

as possible, which was in itself quite a challenge. But the result

this requires, among other things, respect, attentiveness, helpful-

exceeded all expectations. The action produced a whole flow of

ness and genuine interest in what the partner wants.

feedback as pictures and videos were circulated on social media,

Additional actions to reward participation

the perfect match Awards

The Perfect Match theme totally dominated our staff event: Proxy Night. Customers who participated in the action were also in with a chance to win a marketing campaign run by SD Worx. Three SMEs drew the winning ticket and they each used their prize in a different way.

and experiences shared. Our employees came back with loads of That is why we organised “The Perfect Match” campaign in the

enthusiasm and inspiring tales, but, above all, with suggestions to

spring. Over two weeks, 376 employees from our SME Division were

further improve our collaboration with SME managers. The visited

placed at an equal number of SME customers. Behind the counter,

SMEs, too, greatly valued the initiative. We collected their stories,

in the shop, on the building site, in the office... What was the idea

challenges and solutions on www.sdworx.be/perfectmatch.

behind this? No better way to get to know and understand the core business of our customers than by being physically in the field.

By reaching out to our customers, asking them questions and listening to their ideas, we actually turned our belief in customer experience into a practical experience. With the hope of growing together with our customers until we become, and remain, the perfect match.

Archi.Vert.be

Compagnons Dépanneurs

cuperus

archi.vert.be

compagnonsdepanneurs.be

cuperuskoffie.be

With the help of a specialised agency, we

For volunteer organisation Compagnons

The Antwerp café Cuperus is designing a

gave the website of Archi.Vert.be a new

Dépanneurs, we discussed ways to in-

Taste Compass. As soon as it is ready, they

look, we set up a social media plan, and

crease their brand awareness while hon-

will launch it during an SD Worx customer

we organised a feature article in Chic

ouring their partners. We organised a big

event. There, our guests will get a taster of

Gardens magazine. We also arranged

garden party, achieving both objectives in

top quality coffee, and discover what the

for this Hainault-based landscape archi-

one fell swoop.

black gold can do for their employees and

tects’ firm a meet & greet with Monbaliu,

In addition to being highly successful among our customers, The Perfect Match campaign was also shortlisted for the European Best Event Awards. The Perfect Match won gold in the Best Team Building category.

customers.

a fellow landscaping company and their role model in West Flanders.

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We rolled out our “Had I known that” campaign, #HIDG in short for “had ik dat

After the wonderful party you so generously organised for us, we’ve been inundated with thanks, in both written and oral form. Once again, our heartfelt thanks to you! ” - Cécile Nyssen, Manager of Compagnons Dépanneurs

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geweten” in Dutch or #SIJASU for "si j’avais su” in French, halfway through 2015. It went national at the end of February 2016. Every day, HR professionals take decisions on their payroll administration and human resources. Sometimes, they look back at those choices and think: “Had I known that, I would have handled it differently.” Our intention with #HIDG was to scrap that sentence from their vocabulary once and for all. Our radio spots were aired in February and March 2016 and featured recognisable HR challenges. We will maintain a strong online presence during the rest of the spring, as HR professionals also look there for information they can use everyday. This will allow us to draw interested professionals to a platform where they can find inspiring solutions.

Resolutely invested in listening, productivity and innovation

In preparation, in the autumn of 2015 we conducted an intensive survey of customers and SD Worx employees to gather these real-life and recognisable #HIDG experiences. We proposed relevant solutions for every scenario. Those interested can view these articles, blog posts, e-books, infographics, videos, and self tests on our website www.sdworx.be/hidg (Dutch) or www.sdworx.be/sijasu (French). In addition to our services, we are therefore proactively providing HR professionals – from SMEs to multinationals – with the tools to avoid frustrations, misunderstandings or sensitive issues. Not only do web surfers get the information they are looking for at that particular time, but also useful answers to questions which they are very likely to ask themselves. In other words, our communication is not prompted by our product offering, but by the needs and desires of customers and prospects.

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Customer experience our promise

SD Worx measures customer satisfaction annually. Our score in this respect is 8/10. Since 2015, we also assess the Net Promoter

Transport module clears the path for payroll at transporters

Score, which indicates the extent to which customers would rec-

Healthcare sector saves time, money and energy thanks to standard payroll software

ommend us. We reached a score of +32, which is also excellent.

The transport sector is a bit of an oddity when it comes to payroll.

Outstanding results, but we won’t be satisfied until both scores

Drivers work according to flexible hours. Keeping and timely pro-

In the healthcare sector, the wage calculation is made particularly

increase further in the coming years.

cessing the mandatory statements of their hours worked in order

complex by a multitude of statutes and scales within a single or-

to remain within the legal limits constitutes a heavy workload for

ganisation. Exceptions are pretty much the rule. Even then, some

We appointed a first customer experience manager in the autumn

the HR department. On top of that, many sectoral allowances add

broad lines should be distinguished. In collaboration with five Bel-

to achieve that goal. He started a cross-divisional project group

to the complexity of the wage calculation. The search for good

gian hospitals, SD Worx has developed a standard for payroll soft-

which defined the unique SD Worx customer strategy. Today we

employees, mandatory training and stricter safety rules are also

ware tailored to the healthcare sector: X-Tend for healthcare.

offer services and solutions that “often” meet our promise to our

very time-consuming for HR.

Solutions tailored to sectors

customers, but “often” is not good enough. We are committed to fulfil the promise that this will always be so.

SD Worx has therefore developed an innovative wage module tailored to transport companies. With this software tool, their payroll

We are still keeping secret the exact methods used to fulfil this

process is organised, automated and compliant with all the laws.

promise. For now, we will only reveal that we are working on several fronts. For instance, a first pilot project will run in three SD Worx offices in the spring of 2016. After thorough evaluation, we will adjust our strategy as necessary and then implement it in the rest of our branch network.

“Satisfied employees are our best ambassadors to customers and colleagues. Correct payroll processing is a prerequisite to achieving that. With our complex wage calculation, however, we could not approach any ordinary payroll services provider. We found that knowledge and expertise at SD Worx. The greatest strength of this transport module is the error-free processing of our data in accordance with the collective labour agreements in the sector. We feel that we can really rely on it.”

“Data entry is easier and faster. The margin of error during input has dropped to only a tenth of what it used to be. Reporting the cost centres is faster for more than the half. The “Flex Wizards”, a digital tool to manage and save processes is another distinctive added value. We also have a clearer view of external financing. Since we quickly see the status of contracts, it’s easier for us to calculate if we have planned sufficient manpower for a project. Finally, the implementation went smoothly. Our interim HR Director even commented that she never saw an IT project run so smoothly.”

It is precisely because we get fully acquainted with our customers that we keep getting better insight as to the hurdles they have to overcome. We are keen to play our part if we can help resolve these issues. All the more if other customers in the same sector can also benefit from our solution.

– Hilde Thiebaut, Expert in Framework Management at UZ Brussel

– Nathalie Goevaerts, HR manager at Trafuco

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The public sector also has its own idiosyncrasies in payroll

SD Worx does not always have a specific sector in mind when

retain new talent. Indeed, despite the traffic-jams and congested

calculation. SD Worx has developed a user-friendly and recog-

developing a new product or service. Better still, our HR solutions

traffic problems, the employee will not easily give up his or her

nisable cloud-based payroll platform specifically for local gov-

are versatile to make sure as many customers as possible benefit

company car. If he or she gets the chance to choose a combination

ernments. It offers employee self-service (ESS) and manager

from them.

of means of transport as part of a mobility policy, that decision is

self-service (MSS). The platfom’s reporting capabilities are

taken more quickly. (FIP ) is a hit. In it, we con-

very broad. In addition, the payroll platform is easily integrated

For instance, our Flex Income Plan

with other systems. Another advantage of this hosted solution

vert fringe benefits into a monetary value and we set them up into

is that SD Worx immediately takes care of all the technological

an individual budget for each employee. He or she then decides

and legal updates whenever laws or regulations are amended.

once a year how some of that remuneration package looks like,

Automatically. The customer has to do nothing, and there is

depending on his or her personal and professional needs. A small-

no need for a consultant to visit to implement the changes.

er car but with a rail pass? A tablet instead of a vacation day?

The City and Public Centre for Social Welfare (OCMW/CPAS)

Employers have in FIPTM a legally watertight option to remunerate

of Ghent set the ball rolling with this brand new payroll system

employees in a flexible way.

TM

TM

which is future-proofing local governments.

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Payroll platform for local governments

Several birds with one stone

65% 65%

8% 8%

65% 65% of of employees employees would would like like to to bebe able able to to build build their their own own remuneration remuneration package. package.

8% 8% of of employers employers areare currently currently offering offering this this possibility. possibility.

93% 93%

5% 5%

HR solutions for all sectors: 93% 93%TM 5% 5% FIP 93% 93% of of employees employees who who can can create create their their own own remuneration remuneration package package areare very very pleased pleased about about this. this.

The The intention intention to to remain remain with with thethe employer employer increases increases byby 5% 5% if they if they getget thethe possibility possibility to to compo com their their own own remuneration remuneration package packa

FIPTM fits perfectly with the rising trend towards individualization in

65% 65%

8% 8%

the workplace. And because employees themselves have a sense of control, their engagement and satisfaction rise.

Finally, FIPTM greatly bolster the employer’s likeability. According to our customers, it is a formidable weapon in the war for talent. With 65% 65% of employees of employees would would 8%8% of employers of employers example propose an alternative to the traFIPTM, employers can forlike like to be to be able able to build to build their their areare currently currently offering offering own own remuneration remuneration package. package.

thisthis possibility. possibility.

ditional company car, still the preferred fringe benefit to attract and

93% 93% of employees of employees who who cancan create create their their own own remuneration remuneration package package areare very very pleased pleased about about this. this.

TheThe intention intention to remain to remain with with thethe employer employer increases increases by by 5%5% if they possibility to compose if they getget thethe possibility to compose their own remuneration package. their own remuneration package.

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Working together towards positive change “We launched FIPTM in 2012. It is a great asset, especially in our recruitment process. Since then, we’ve noticed during interviews that the majority of candidates know our remuneration policy on the subject. But this is a huge added value for our retention strategy as well : in surveys, employees clearly indicate that they value FIPTM. It is becoming more and more a pillar of our HR policy.

It often takes an outsider’s objective view to help an organisation

learn how they could develop individually, allowing the team and

get back on the right track. For instance, together with the City of

consequently the entire organisation to grow.

Antwerp, SD Worx studied the changes which could help improve the workings of the organisation, increase satisfaction among em-

The keyword in this whole process is ‘together’. The development

ployees and customers and raise the level of customer service.

and improvement are ensured, also in the future, by broadly disseminating this change project.

Based on process analysis, we leveraged interventions, coaching, In 2015, 35% of CTG staff had not opted for the standard remuneration package. But in 2016 we expect this proprotion to rise to over 50%, as this year we added another three new elements to our FIPTM, including the end-of-year bonus. For the company, the whole FIPTM roll-out is fiancially budget neutral, but on a human level it represents a great win for us. When we introduced the FIPTM, we recorded 30% less outflow.”

mentoring and consultancy to introduce a new organisation model and a culture of trust, openness and accountability.

Results that speak for themselves

The emphasis evolved from consultancy and guidance to manag-

The outcome has exceeded expectations. The number of com-

ers, with a view to providing tools to all employees so that they

plaints lodged with the ombudswoman has decreased by as much

could bring about change themselves. This enabled employees to

as 40%.

HR Excellence Awards 2015 In November, this great customer case allowed us to win the HR Excellence Award 2015 in the “Best Learning & Development Company” category. We also took home the HR Community Prize that night. This award goes to the nominee with the most votes from the HR Community. A strong recognition we managed to win three times already.

- Ferdi Claes, HR Manager at CTG

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maintain closer customer relationships, are more energetic and more loyal. They are your best ambassadors because they strongly believe in your organisation. They experience their job as more meaningful and doable. And that is reflected in your corporate results. For instance, having motivated employees leads to 13% more productivity, 50% less absenteeism and 21% less turnover. We listed more conclusions and tips on the subject of engagement on www.sdworx.be/engagement. We developed a scientifically based questionnaire, which can be customised to suit each company. We use it to measure different drivers for engagement and to find the levers that lead to more satisfaction and commitment. The survey delivers results at the employees’ level, as well as for the whole organisation. A third party records the survey to ensure absolute anonymity.

Measuring and increasing engagement 22%

61%

17%

niet geëngageerd

matig geëngageerd

sterk geëngageerd

+13%

-50%

-21%

productivity

sick leave

staff turnover

vs.

3x waardevollere medewerkers

SD Worx consultants process the data. This, combined with other HR analytics, provides analyses and forecasts. The company also gets a benchmark, as SD Worx surveys approximately 2,500 Belgian employees annually in such a way.

“We are very satisfied with the way this collaboration went. SD Worx knew from experience which steps to take to optimise such a process. This kind of expertise is priceless. They took on a coaching leading role while giving us the freedom to add our own personal touch to the project. Their customised, phased approach has paid off.” - Sabine Schellens,

Organisation Development Manager at Aquafin 24

GEMIDDELD BEDRIJF

our engagement survey: measuring is knowing

A highly committed employee is worth three. Involved employees

3X

3x

meer rendement voor uw THE organisatie BENEFITS

FOR YOUR ORGANISATION 25


Maximum efficiency from our tools We constantly optimise our payroll software tools. To ensure every customer was getting the most out of these, we organised “Learn & Lunch”. Each account manager in our Kortrijk office invited his or her customers to a training session under this heading. Our payroll tools were extensively presented and explained on that occasion. Tips & tricks were also provided. Customers seized the opportunity to discuss their questions personally. The Kortrijk initiative was a success: in total, this action allowed us to reach more than 250 customers. “Learn & Lunch” will definitely be rolled out to our other offices in 2016.

Helping customers grow in their job

Our division SD Worx Learning organises the Day of the Payroll Professional every year. 200 such payroll professionals attended our event in Louvain-la-Neuve on 27 October 2015, and two days later we received about 500 guests in Berchem. Traditionally, a series of workshops and an opportunity for extensive networking with fellow payroll professionals and SD Worx employees are the main ingredients of those events. We kept this same winning recipe for this edition as well. This time, the programme included 12 workshops with as a common theme: ‘Let’s get digital!’. In addition, participants benefited a lot from the mutual

“Thanks for the warm welcome, clear explanation about payroll and delicious lunch. I learnt a lot, thank you. I also found the enlightening explanation on accounting very interesting. No wonder you are winning so many awards with your innovative approach. Keep up the good work!” - Petra Beaumon,

Co-Manager at Motte-Beaumon

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exchange of experience and knowledge.

“In addition to a great day, I also got a lot of useful tips which are now actually helping me.” - Fiona Snow, Payroll Officer at Kunsthuis Opera Ballet Vlaanderen

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How satisfied and motivated are SD Worx employees? Practise what you preach. As a leading HR company, it goes without saying that we manage our own HR the way we advise our customers to do theirs. We conducted the engagement survey at SD Worx in April to gauge to what extent our people are satisfied and motivated. 70% of all employees filled in the questionnaire. In it, we asked about topics such as growth potential, talent mobility and energy. An independent organisation processed the results, which our Consultancy department then analysed. During the summer months we communicated the initial findings at a corporate level. And from the autumn we set up action plans. In addition, we enabled as much cross-divisional work as possible.

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2 |ENGAGEMENT TOWARDS OUR EMPLOYEES

SD Worx also commits to its em-

ployees. We strive to be the best possible employer to make sure

they are happy to work at SD Worx. We also encourage their

engagement so that they give the best of themselves in order

Flexible reward should be the standard everywhere, our company included

to offer our customers optimum service.

Better than anyone, we recognise that our employees are the driving force behind SD Worx. But just like our customers, we are also struggling with the same challenges to attract and retain the right talent. As strong advocates of our Flex Income PlanTM (FIPTM), we also rolled it out internally. The response was huge. More than 40% of SD Worx employees chose to compose part of their remuneration package themselves. This group will keep growing, since also newcomers, holiday makers and future decision-makers are getting the chance to join our flexible income plan.

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Engagement leads to new product tailored to customer

Innovation remains one of our priorities. In the context of our new business strategy, we look for potential game changers in the market. We then test the market interest by running pilot projects. Specifically, a “no frills” offering can mean such a breakthrough. Here, we aim to provide a qualitative basic HR offering that offers greater value for money though extensive digitisation and automation.

Our 70-year history through the eyes of employees

Our employees are also involved in the development process. For instance, some twenty SD Worx employees have volunteered to come together to brainstorm. One of the proposals they came up with is SportsPay: a solution allowing sports clubs to pay players their premiums in a fiscally correct way. We immediately saw the potential in it and gave a multidisciplinary team of five SD Worx employees the resources to develop this idea as a mini-company. After a good six months, they presented the application, marketing campaign and website.

“SportsPay is a no-brainer. We will use it for sure. There is no other such product on the market and it meets our needs to a tee.”

All the sports clubs were able to use the application for free for a

- Bert Maes,

Sports Director IJshockey Herentals

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year, and subsequently had to pay a license fee. SportsPay has

SD Worx celebrated its 70th anniversary in November – a truly special event we wanted to

since then attracted more than 100 customers: a successful out-

share with all our colleagues! To mark this important anniversary, a Family Day for all our em-

come. The employees, too, would like to extend the scope of this

ployees and their families was held at the Bellewaerde amusement park in early November.

project. We are exploring ways to embed innovation further in our

It was a sunny, fun-filled day attended by many, and the feedback was positive. A number of

organisation.

"In 1958, we all visited the World Expo together – including partners. A Family Day avant la lettre, so to speak."

- Godelieve Uytgeerts-Stas, former Secretary to Jozef Van Den Eede

current and retired SD Worx employees told their part of the story of SD Worx.

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The story of SD Worx begins on 15 November 1945 with the establishment of social services company VEV by Jozef Van den Eede, followed by seven fascinating decades...

We, the men working in the data transcription department, were real mavericks. Even the assistant director was wearing a dustcoat, but we never did. - PAUL BOSMAN, former Data Transcriber

I was there during the company's pioneer days. We were allowed to test anything and everything, and sometimes we failed too. - JOHAN MAES, HR DATA COLLECTION MANAGER

One day after training, a client folded the floppy disk in half and put it in his pocket. - RIA DE WAELE, eBLOX TRAINER

When we decided to make the jump to Wallonia, we felt like true pioneers. There was a lot of wiggle room, but also a lot of pitfalls to avoid. - ANGELO MONTESI, REGIONAL DIRECTOR

SD Worx is a company with guts, unafraid to try out and develop new things. - HERLINDE VERVAECKE, Team Manager Legal Advice

Resolving a complex IT problem and getting a heartfelt ‘thank you’ email... that’s why I happily ride my bike to work each morning.

SD Worx now operates on an international scale. It is time to take centre stage. - OLIVER WRIGHT, DIRECTOR MULTI COUNTRY SERVICES

- ANTONIOS TARLIZOS, SERVICE DESK SUPPORT ENGINEER

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3 | ENGAGEMENT TOWARDS SOCIETY

SD Worx is also committed to serving the society in which we operate.

On www.sdworx.com/mvo our annual CSR report (in Dutch) pro-

vides extensive coverage of our efforts with regard to corporate

social responsibility. But there

should be some highlights in this annual report.

Works with passion Talent must be nurtured. That is why SD Worx has been collecting artwork right from the early days, from 17th-century Russian icons to paintings and sculptures from the 19th and 20th centuries, and contemporary installation art. It is not merely a form of investment; it also fits into our commitment to give something back to society. We regularly loan works for exhibitions in Belgium and abroad. In doing so, we want to give art its rightful value: it has the power to inspire, motivate and teach. For our 70th anniversary we exhibited 70 masterpieces from our collection under the title: “Works with Passion”. Art historian Siska Beele of the Antwerp Royal Museum of Fine Arts selected masterpieces by Emile Claus, Léon Frédéric, Oscar Jespers, Felix De Boeck, Floris Jespers and Léon Spilliaert, among others. The six-day exhibition was free to all art lovers. In addition, we treated customers and guests to a special art night. An initiative that was obviously appreciated, judging from the wonderful response that we received personally and through the guest book.

34

35


In 2015, we organised among our employees two blood drives with the Red Cross Flanders. The call was answered massively and once again earned us the title of “Company with a Heart”.

A company with a heart

Our IT equipment gets a new lease of life at Close the Gap. This organisation sends it to schools, universities and institutions in developing countries. Afterwards, the equipment is dismantled locally and sent back to Belgium for further recycling.

CLOSE THE GAP

All activities by and for our employees are grouped under the SD Worx Community. For 7 years in a row, for instance, we have been taking part in the Roparun, a relay race over 500 kilometres. The proceeds go to organisations that improve the quality of life of people battling cancer. In 2015, 23 colleagues raised no less than 15,000 euro for this worthy cause.

Running from Paris to Rotterdam for charity 36

SD Worx Fund is committed to structural partnership We have been supporting the SD Worx Fund initiatives that

1/ Mission Locale pour l’Emploi de Bruxelles-Ville | brussels together with the project “Espace Remobilisation” focuses on low-skilled, long-term unemployed people and those without the proper resources to find work. The goal is to help their social and professional reintegration into society. This is done, among other methods, through more individual support and training that match the needs of the local labour market.

2/ Azimut|Monceau-sur-Sambre

assist disadvantaged young people into the labour market ever since 1999. Unlike in the early years, since 2015 the

encourages new entrepreneurship with its project “Compétences

SD Worx Fund selects long-term structural partnerships and

e-tic et durables”. They provide support in the development of

representation in all regions.

the competences of the potential entrepreneurs. Half of them are low-skilled and older than 40 years. Afterwards they can work as

The three partners for the SD Worx Fund

self-employed or as employees within a collaborative partnership.

3/ Levanto|Antwerp is a social enterprise that contributes to creating tomorrow’s labour market in which everyone is active. They support jobseekers

"hout & jong" Ever since 2006, Levanto has been working with young people from part-time education, who often are underperformers at school. Problems such as a difficult home situation, independent living, being a foreigner with a residence permit or bullying at school are recurrent. Thanks to Levanto, they discover what working is all about and learn to regain their self-confidence. For more than a year – with the support of SD Worx – they have been making designer furniture from recycled wood. For these young people, creating a beautiful and saleable product is a unique and highly satisfactory experience. Their product has come full circle in this process: from used wood from the charity shop to affordable design.

and employees in discovering and developing their employability through counselling, training, work experience and mediation.

37


4 | ENGAGEMENT TOWARDS SUSTAINABLE GROWTH IN THE FUTURE

Without growth, an organisation

cannot expect to survive in these competitive times. SD Worx is therefore committed to continue

Investing in international growth market through partners

to grow sustainably, and thus be able to fulfil its engagement

Customers with European branches used to team up with a different payroll provider in each

towards customers, employees

country. Together with Swedish Aditro, we founded the Payroll Services Alliance (PSA) in 2010

and society. Considering that our

to offer them – under the same contract – payroll calculation and HR services in several coun-

biggest development opportu-

tries. That network expanded exponentially, attracting leading partners. Five years later, we

nities are abroad, and that our

ensured the same high quality service in 31 European countries.

customers are operating more and more across borders, our organ-

In August, PSA welcomed the US company Ceridian, number three in the United States. This

isation and solutions should be

has also paved the way into the US and Canadian markets for European companies. Our co-

aligned accordingly. We are there-

operation will offer our customers the best of both worlds.

fore strengthening our resources

to that effect.

38

Through our partners, we have a broad and top quality toolbox at our fingertips. Think of Cornerstone OnDemand and Talentsoft to name but a few. As a result of our new partnership with Ceridian, we can also offer the Dayforce platform.

39


our customers who operate internationally find it convenient, for example, to have a single point of contact for their payroll “SD Worx processes our payroll in the Netherlands, our home base, as well as in Belgium, France and Germany. Because of the complex legislation, we have chosen to also entrust our entire HR administration in Belgium to SD Worx. They are now a true extension of our company as a result. For instance, SD Worx has made great inroads in self-service capabilities, which we would like to use even more. All of this is important.” – Lard de Vries, Sr Human Resource Manager Europe at Mexx Global B.V.

“The ability to work with a single provider and the same tools to manage our payroll in Belgium and the Netherlands really constitutes an asset for us. And SD Worx adapts its tools to suit our specific needs. It’s like getting customised service.” – Cathy Guelluy, Head of Payroll at GEFCO Benelux

40

Glenn Vaughan

Stefan Königs

CEO of the British Chamber of Commerce in Belgium

HR Director Europe/APAC at Total Safety

“We rely on SD Worx not just for payroll services, but for HR services as well. For instance, they recently advised us on the most tax-efficient remuneration packages available for our team, and on compliance issues. SD Worx is also one of our accredited service providers. Many of our members are new to Belgium. They can find the Belgian personnel administration system to be very complex and different from what they are used to. Working with a partner like SD Worx helps in so many ways: they excel in explaining complex issues in a clear and concise manner, provide ready solutions, and truly understand the international mindset. What’s more, SD Worx thinks and operates on an international scale. As a customer, it’s nice to work with a partner that is similar to you. It conveys a sense of trust.”

“We are working with SD Worx for our payroll processing and handling in Europe. Their comprehensive offering combined with high level of professionalism make them a great partner to work with. Local SD Worx experts provide our HR team with outstanding customer service. In some countries, SD Worx also acts as a source of information for HR/payroll-related legal issues. Given our international footprint, it is efficient and effective to handle all payroll related issues with one single partner.”

Eric BailleuL

Marie Hägglund

Head of HR & Business Development at Mercedes-Benz Luxembourg S.A.

Payroll Specialist at Spotify

“Every month, an SD Worx employee comes to our offices to help us prepare and check our payroll. The calculations have to be done according to the rules of the head office in Stuttgart for more than 600 people with a great diversity of remuneration regimes. We outsourced this service to SD Worx a few years ago when a highly experienced HR employee left our organisation, forcing us to find a solution at short notice. SD Worx was that solution. After a short interruption, we are now working again with the same SD Worx employees. They’ve integrated right away because they know our organisation, allowing our HR staff to focus on other HR tasks. Besides, SD Worx will soon review these HR tasks and submit proposals for their optimisation. In fact, we experience that they have the right expertise in-house for that.”

“We are using SD Worx for the payroll of our Belgian staff. It’s fantastic to always get a speedy response from my contact person at SD Worx. She’s also really good at explaining complex matters very clearly, and the Belgian personnel administration system is certainly complex. SD Worx also helps me prepare for specific transactions, such as holiday payouts, for instance, by providing me with all the info I need well and truly beforehand. They also keep me up to date on the latest changes in legislation. We are really happy with the cooperation with SD Worx.”

41


A Leader in Gartner’s Magic Quadrant for Global Payroll Services 2015

Unique integrated solution for Belgian companies with expats Belgium has a remarkable number of foreign executives due to its central location in Europe. These expats enjoy a special tax regime. For the payroll administration of their employers this implies com-

Gartner is a world leader when it comes to research and advisory services. Their renowned

plex and time-consuming tax and payroll processes.

analysts generate research material and insights which in turn allow decision-makers to

This is why SD Worx developed a one-of-a-kind integrated solution:

make forward-looking decisions. Gartner publishes an annual Magic Quadrant for many

Tax & Payroll Integrated (TPI).

areas of expertise, including Payroll Business Process Outsourcing services. Providers are carefully positioned on the basis of objective and qualitative criteria. Gartner distinguishes between niche players and visionaries, challengers and leaders. SD Worx has been in Gartner’s Magic Quadrant for four years already. This year was a first for SD Worx as it was positioned in the Leaders’ quadrant. Every year until then we had been in the Challengers’ quadrant.

42

Gartner disclaimer Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organisation and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

“SD Worx has been our payroll services provider for more than ten years. We have outsourced our entire HR administration to them since last year. From drawing up contracts to the payment of wages through e-Blox. SD Worx has also been processing the wages of our expatriates from start to finish since the end of 2015. A complex area: the wage calculations of our 50 expatriates vary according to their country of origin, nationality, salary level and personal situation. Wages are calculated automatically thanks to TPI.

SD Worx experts monitor the legislation closely. They enter the relevant data, taking into consideration all aspects that are specific to the employee’s status. We gain time and efficiency: we no longer need to consult external tax experts or to calculate the wages ourselves, thus avoiding risks of errors. And we improve our service to our expats: a specific group which includes several Executive Board members. What’s more, the team of experts provided by SD Worx answers questions with great efficiency and in excellent English.” - Nathalie Villers, HR Legal Advisor at Orange Belgium nv

43


Corporate Governance

general assembly

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

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 a constant focus on ethically responsible entrepreneurship and constructive collaboration. More information on: www.sdworx.be/en/corporate/ about-sd-worx/ corporate-governance

Powers

in line with strategic objectives are also monitored by the Board, as

The General Assembly’s main tasks are as follows:

are the performance, remuneration and evaluation of members of

-

changing the articles of association;

the Executive Committee.

- appointing and dismissing directors and members of the supervisory board and discharging from services rendered;

Communication

-

approval of the budget (NPO) and annual accounts;

Each year the Board of Directors compiles a detailed annual report,

-

and profit appropriation (limited company).

which outlines the company’s current status, possible risks and future prospects. It highlights actual examples of corporate govern-

board of directors

ance, provides an overview of the financial position and reflects the

Task

ny amongst its members and to safeguard continuity in the event of

The Board of Directors has a strategic and control function and

changes in its structure. SD Worx consequently aims to appoint a

ensures that the company operates with maximum efficiency. In

minimum of eight and a maximum of twelve directors.

practice, the Board of Directors outlines the mission, strategy and

The structure of the Board is defined on the basis of the required

general policies. Decisions concerning organisational structure, re-

diversity and complementarity. The Board consists of independent

organisation, cooperation agreements, mergers and take-overs are

directors, with the exception of the CEO.

also part of its remit.

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 necessary experience and knowledge from the various disciplines relevant to the compa-

Directors on 01.01.2016

Upper row f.l.t.r.: Koen Van Gerven - Jan Van Acoleyen - Steven Van Hoorebeke | CEO - Marc Binnemans - Patrick De Vos Bottom row f.l.t.r.: Dirk Collier - Filip Dierckx | Chairman - Riet Docx - Frederik Van Bladel 44

Not on photograph: Michel Delbaere

45


Committees The Board of Directors is assisted by three committees: the audit & risk committee, the remuneration and appointment committee and the strategic committee. They provide 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.

Members

Audit & Risk Committee

Frederik Van Bladel - Chairman

The Audit & Risk Committee assists the Board of Directors in exer-

Filip Dierckx

cising its auditing role, notably in terms of providing financial infor-

The SD Worx Remuneration and Appointment Committee formu-

Patrick De Vos

mation, risk management and compliance, internal audits, internal

lates proposals concerning the appointment, remuneration and

Riet Docx

review systems and external auditing.

evaluation of the directors, managing director and executive man-

Remuneration and Appointment Committee

agement, and monitors the market conformity of remuneration. It also deals with all direct questions concern.

Members

Strategic Committee

Filip Dierckx - Chairman

The Strategic Committee helps the Board of Directors and formu-

Marc Binnemans

lates recommendations regarding the execution of its strategic and

Dirk Collier

controlling responsibility, i.e. the definition of the mission, the val-

Dirk Collier - Chairman

Patrick De Vos

ues, the strategy, the general policy lines and the long-term objec-

Filip Dierckx

Riet Docx

tives of the company, as well as the taking of important strategic

Frederik Van Bladel

decisions such as reorganisations, cooperation agreements, merg-

Jan Van Acoleyen

ers and take-overs. By majority decision, the Strategic Committee has the ability to call on the advice of outside experts and invite them to its meetings, as and when necessary.

46

Members

Executive Committee Upper row f.l.t.r.: Henri Vanroelen | Chief Information Officer - Sige MariĂŤn | Director Consulting - Jean-Luc Barbier | Director Local Services & Solutions - Hector Vermeersch | Chief Financial Officer - Anne-Marie Cootjans | Chief Corporate Services Officer - Thierry Vanbever | Director Global Services & Solutions Bottom row f.l.t.r.: Steven Van Hoorebeke | Chief Executive Officer - Hilde Haems | Chief HR Officer & Chief Marketing Officer - Eric Janssens | Director Division SME Belgium - Tom Wouters | Director Large Enterprises Belgium

47


SD Worx for Society cvba-vso

2014

2014

2015

TOTAL EQUITY CAPITAL

2015 399,143

ASSETS 310,406

profits from operations

16,191

10,544

14,786

11,171

EQUITY CAPITAL Equity capital (excl. result) Minority interest

profits from assets

Results for the year

2014

2015

330,332

357,566

2,675

3,301

27,234

38,275

288,710

2014 82,567

2014

FIXED ASSETS

2015 85,830

FIXED ASSETS

2014

2015

2014

Intangible fixed assets & consolidation differences

7,492

13,612

3,486

74,000

71,055

Financial fixed assets

1,075

1,163

CURRENT ASSETS

2014

2015

Tangible fixed assets

2014

2015

SD Worx vzw

(in € 1,000)

2014

284,449

TOTAL TURNOVER

on 31.12.2015

(in € 1,000)

LIABILITIES

360,242

261,975

Composition of SD Worx group

PRO FORMA Consolidated balance sheet of the SD Worx group

2015

The pro forma consolidated financial statements of the SD Worx group contain a concise summary of the annual financial statements of the entities of the group. The statutory auditors have given their unqualified approval to the annual financial statements of the individual entities.

PRO FORMA Consolidated profit-and-loss account of the SD Worx group FINANCIAL PROFITS INCLUDED

Annual figures 2015

TOTAL OF PROVISION

2015

PROVISION

2014

2015

3,259

Provision for risks & liabilities

3,486

3,259

2015

DEBTS

2014

2015

146

1,992

1,509,479

1,568,039

Trade debts

13,481

15,982

Debts concerning tax & remunerations

42,072

37,164

856

1,189

4,241

10,733

2015

SD Diensten nv I.V.D. nv LWB nv

2014

Aspex nv 272,131

SAK nv

COSTS

2014

2015

202,911

213,813

ICT costs

12,680

12,777

Office & administration costs

17,293

18,908

5,537

6,064

Personnel & fees

Protime nv 261,476

Hazel Heartwoord cvba SD Worx sa (Luxembourg)

Promotion costs

SD Worx Holding bv (the Netherlands)

Depreciations

13,866

14,387

(the Netherlands)

Miscellaneous costs

1,829

-2,411

SD Worx Services bv (the Netherlands)

Taxes

5,742

7,510

Minority interest

1,618

1,083

SD Worx SAS (France) SD Worx GmbH (Germany)

COSTS

SD Worx Systemen bv

2014

2015

38,275

1,851,436

2015 1,951,667

Receivables on +1 year

5,335

15,201

Receivables on -1 year

34,887

40,106

1,229,294

702,098

Investments 27,234

Liquid assets Accrued and deferred accounts

PROFIT

Sodeco nv

CURRENT ASSETS

2014 1,934,002 2014

TOTAL ASSETS

2015 2,037,499

565,489

1,175,629

16,431

18,633

2014 1,570,275

TOTAL DEBTS

1,635,099

Debts over +1 year Customer funds

Other debts

2014 1,934,002

TOTAL LIABILITIES

2015

Accrued and deferred accounts

2,037,499

2015

HR Worx nv

48

49

SD Worx - Annual report 2015  
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