Page 1

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 Hoorebeke Managing Director of SD Worx



Our partnerships allow us to proactively trim our HR services to match our customers’ requirements."


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.

Expertise as a driver of innovation Since the 1990s, we help our Belgian

number of loss-making activities over

2,000 employees in five countries.

customers not only with payroll, but

the past years. Moreover, we trimmed

This makes sure that all our employees

also with consultancy and training

– and subsequently kept tightly

in Belgium and abroad have the same

services. As far as our international

controlled – the cost structure. We

“experience” of the transition we are

expansion is concerned, it began in

achieved this through process

going through and of the three pillars

the 2000s, with branches in

optimisation, lean methodologies and

we are aiming for in our work.

Luxembourg, the Netherlands, France

smart outsourcing. Finally, we drew up

and Germany. Ever since the creation

a new strategy which is clearly bearing

Customer experience is the first. We

of the Payroll Services Alliance, our

fruit. Above all, we owe our results to

cannot deny that payroll threatens to

pan-European partner network, we

the entire SD Worx team. Our people

become a “commodity”. Our

have become a solid player covering

are doing their utmost at all levels and

customers expect the correct and

28 countries.

in all activities of our organisation. This

timely calculation and payment of

allowed us to achieve the necessary

wages – despite the complexity of it all

2014, a strong year

growth that gives us the investment

sometimes. In this activity, we should

2014 was a strong year for SD Worx.

facilities to keep innovating.

be able to surprise our customers. We

Our net profit increased from 2.1

have to prove that they are better off

million euro in 2013 to 27 million euro

With our SME division, for example,

with us, that we have more

in 2014. The most remarkable

we achieved 9% growth in a mature

capabilities and that we do more than

element of this result was our

market. Our international division, too,

other players.

operating profit without financial

experienced much stronger growth

income which rose to 14 million euro

than budgeted.

Part nerships is our second pillar.

in 2014. We will keep aiming for this

Of course, we will not be able to

Today, more than ever, it is clear that a

level in the coming years. In addition,

repeat such a significant growth in

company cannot do everything itself.

our investments performed very well.

profits in the current year, but we will

One company cannot be everywhere

strive to keep the operating figures at

and provide the know-how and

this level.

financial resources for everything.

“2015 marks yet another new celebratory milestone in our company’s history as we blow

Positive figures

out 70 candles. We have been able to develop

How, in a market under pressure, did

and strengthen all three pillars in our strategy –

we manage to achieve such positive

A strategy that works

in specific areas, a company should

customer focus, partnerships and a proactive

results? A series of conditions led to

Last year, we organised a roadshow

look for suitable partners.

this, as we had put a stop to a

to present our new strategy to our

At SD Worx, we are making every

approach – because of our extensive experience.”

In order to innovate fast and effectively


effort to expand our ecosystem, both

We do not just rely on our gut feeling

In the context of our various payroll

being used for the first time. For the

nationally and internationally. Our

when offering solutions. Quite the

suites, we involve our customers

public sector – particularly medium-

current success, for instance, can be

opposite. Over the years, we have

proactively in choosing innovative

sized city corporations, municipalities

attributed to the fact that many

accumulated a wealth of data. On that

features for future releases of the

and PCSW – we developed a specific

accounting firms are keen to work

basis, we can provide our customers


SAP payroll solution.

with us, and at European level, we

with targeted information, advice and

have achieved strong results because

tools to capitalise on potential

More and more customers – whether

People are our strength

of our partnership within the Payroll

opportunities. We are also able to

SMEs or large players – entrust us

The force behind these innovations?

Services Alliance. We are also

benchmark them with other players in

with their expat, salary split and

Our loyal customers combined with

strengthening our presence in the

their sector, in the field of Reward for

secondment projects. For them, we

our employees and their vast

Netherlands by joining forces with

example. We had already translated

are the only player to integrate tax

expertise. We are proud of the result

CTB, a provider of HRM and payroll

such an option into practical salary

service in the payroll processing in

that we have achieved, all together.

systems and payroll firm specialised in

surveys and the online Reward

various countries.

The figures prove that our teams have

the construction industry.

ProfilerTM. Our Performance

worked hard and with focus; we are

Dashboard has now been expanded

We also rolled out innovations in our

Our partnerships also enable us to

as well to include reward data. This

own company. Our own employees

broaden the range of products and

new interactive online reporting tool

are now enjoying the Flex Income

Our thanks go to you, our customers,

services we offer our customers. For

includes about 270 common functions.

PlanTM, for example. As a matter of

for putting your trust in our

instance, after Cornerstone

In other words, based on our rich

fact, we are currently one of the few

organisation. We value greatly your

OnDemand, we also signed an

expertise, we can offer companies

players to implement it also in large

feedback on our services and the

international cooperation agreement

and organisations real value.

and complex organisations.

innovations that we may implement in

We carried out another innovation in

the coming years. We will continue to

with Talentsoft, yet another top player

aware that the pressure is high.

in talent management software. That

Innovation is our second nature

our SME offices. Through extensive

invest in process automation and

allows us to proactively trim our HR

2014 was yet another very innovative

automation of the payroll process, we

systems to extract more information

services to match our customers’

year for us. It was a strong year in the

ensured that our colleagues were

from our data, so that we may better


area of new legislation – and

given more scope to focus on what

assist and advise you.

corresponding adjustments in our

really matters: their customers, and

Proactivity as a mind-set

payroll engine. And we went further

informing and supporting them

We would also like to thank all our

The third pillar – which is closely

than that: we rewrote our payroll


employees for their dedication and

related to partnerships and customer

software for SMEs to meet the latest

focus – is proactivity. Thanks to our

standards for mobile operation and

In addition, by focussing on specific

strength of their know-how and

close relationships with customers

ease of use and added lots of

sectors, we can innovate in a targeted

experience, they provide their

and prospects, we know what their

self-service capabilities.

way. For example, last year we

customers with top quality service.

perseverance. Every day, on the

needs are and will be, and how we

developed for the healthcare sector

can meet those needs.

specific payroll software, which is now



Thanks to our close relationships with customers, we know what their needs are."

Filip Dierckx Chairman of the Board of Directors of SD Worx



Result-driven HR 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.


Tax & Legal


Efficient payroll calculations

Tax and social-legal support

Support for all of your

and administration

HR processes

Learning Purposive training courses allow HR employees to shine

Technology Services Automation of all payroll and HR processes

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.















€ 262 million

Payroll Services Alliance SD 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).

payroll hr

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.�


Trust in long-term commitment was the decisive factor for Crelan

Stephan Leyssen Manager 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.”

“In a merged company, all the actors

Looking for the whole picture

ICT people are also involved in the

contribute to the mix with their

We wanted to integrate as many HR

project. We gave SD Worx the green

expertise, strengths and characteris-

applications as possible. Think of the

light halfway through 2014.

tics. Our priority was to create an

payroll processing and management

organisation in which everyone could

of HR data, including the so-called

Impossible to do from scratch

feel at home again and could be

soft HR processes such as recruitment,

For practical reasons, January 1st was

deployed based on his or her talents.

evaluation, internal transfer and

chosen as the date for the move to a

succession management. Easy

different payroll service provider. After

A solid foundation

access for the purpose of modifying

six months of intensive cooperation,

A merger implies a new entity, with an

certain elements of one’s own data;

that transition went smoothly.

identity and culture, and consequently

the ability to offer alternative forms of

The further roll-out followed an equally

also the development of a common

training such as e-learning; an

tight schedule. It involved pumping all

HR policy: harmonisation of staff

automated support of the evaluation

the data into the platform and launching

statutes as well as working and wage

cycle; seamless internal and external

our talent management tool. Based on

conditions; definition of functions, roles

recruitment with a link to social media;

our experience to date, we are

and responsibilities; and development

training for our employees and for the

confident that after just one year we will

and implementation of common HR

independent agents and their

have the HR platform that we had in

management systems such as

employees ... These are some of the

mind. Developing it ourselves would

recruitment, assessment and training.

demands we place on an integrated

have been prohibitive and impossible to

We took care of this crucial foundation


achieve within that time frame.”

Stronger with a partner

Crelan nv

Inadequate tools

SD Worx was able to offer us a single

Established in: 2013

Our workforce nearly doubled as a

streamlined solution, on the strength of

Employees: 1,007

result of the merger. This meant that

their own systems and partnerships

Branches: 778

the available HR support tools were no

with leading software vendors. They

longer adapted to our size. Rather than

control that side of the collaboration

Services provided by SD Worx

adjusting an inadequate system, we

and act for the software suppliers as a

Payroll Services

surveyed the market for alternatives in

single third party. This is very con-


late 2013.

venient, especially if your own HR and

HR software Cornerstone OnDemand



payroll tax & legal

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.

“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.” 12

Chaabi Bank deploys payroll and HR across borders “SD Worx scores way above the

great deal of adaptability, from us as

differences in working hours between

competition on the Belgian market.

well as from SD Worx. Also, we


This is an assurance of quality par

regularly appeal to the Tax & Legal

excellence. It also gave us the

division of SD Worx for other

Looking forward

necessary confidence to outsource

international legal advice.

Our collaboration here is clearly a

payroll and personnel administration for our 240 French employees.

Karine Goldenberg Head 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.”

long-term partnership. At the A suitable software platform

beginning of 2015, for instance,

A new payroll manager also comes

SD Worx took charge of our payroll in

The transition process was very

with new software and tools.

Spain and Germany. The United

smooth. They listened attentively to

Fortunately, SD Worx demonstrated

Kingdom, Italy, the Netherlands and

our concerns. Deadlines were met

that its strong reputation was

Belgium will be next in the course of

with great precision. And SD Worx

justified. Especially Cubes – a

2016. Still a lot of work ahead, but

provided dedicated contact persons:

cross-border reporting tool – got us

our first partnership year holds many

in addition to being efficient, it

over the hurdles. That software is

wonderful promises for the future.

especially creates a pleasant

perfect for our international payroll.


The Cubes management is fully automated and centralised, taking

Always ‘spot on’

into account the specific regulations

We can always turn to our contacts,

applicable in each country. In one fell

Chaabi Bank

even for very specific legal or

swoop, everything has become much

Established in: 1972

regulatory advice. For instance, they

more efficient.

Employees in France: 240

helped us decipher the “déclaration

Employees in Europe: 360

sociale nominative” (DSN - electronic

With Cubes we will gain a wealth of

payroll reporting). These new

insights which we can develop into

Services provided by SD Worx

administrative HR requirements are in

specific action plans. To monitor the

Managed Payroll Services in

effect since 1 April 2015 for all

balance between men and women

3 countries

enterprises in France. They required a

for example; or to harmonise the

Cross-border reporting via Cubes


Joost Ham General Manager at De Vlietoever wzc



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.�

payroll hr

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.

SD Worx future-proofs De Vlietoever “Over a period of about 15 years, the

had been wearing various hats and were

Our next challenge will be to replicate

number of our residents had more

often taking decisions based on a gut

the implementation of this blueprint in

than doubled, from 38 to 81. The

feeling. As we grow, however, this has

our second establishment. Considering

number of staff increased accordingly.

become difficult to sustain. Especially in

the way the current project is going, we

This is due to the fact that most

view of the fact that in 2016 we will be

are confident that we are ready for it.

residents are more heavily care-depen-

opening a second residential care centre,

dent, but also because it is prescribed

which will double our workforce once

A collaborative partner

by the legislation. At De Vlietoever we

again. Professionalisation and objectivity

SD Worx even went a step further by

employ home care specialists, nurses,

are a must.

making us aware of grant opportunities,

kitchen and cleaning staff, paramedics and activity organisers.

something we had never considered. A smooth transition

They also took care of the applications

We began by tackling the basics: our

and the follow-up. This financial

The perfect tandem

mission and vision. Both were no

support allowed us to recruit a

Ten years ago, due to lingering issues

longer in line with the evolution of care.

strategic manager among other staff. In

with our former payroll service provider,

Everyone was subsequently given a

my opinion, it goes to show once again

we looked for another solution. It was

defined job, which is now set out in job

that SD Worx is a committed partner

crucial that our new partner should

descriptions, competency profiles and

who really collaborates with you.”

have extensive expertise in our sector.

the organisational chart. In addition,

SD Worx was able to demonstrate

two head nurses will from now on

such expertise with ample references.

conduct performance appraisals. We

De Vlietoever wzc

In addition, the rapport with the payroll

incorporated all that in a process. We

Established in: 1999

consultant was immediate. She now

wanted to coach internally, but lacked

Empoyees De Vlietoever: 52 Residents De Vlietoever: 81

knows our company through and

the expertise, so we learned to lead

“Our dedicated payroll consultant at SD Worx

through. Her tips and advice are

and conduct evaluation interviews.

has known our company for a long time and

always valuable. This successful

Services provided by SD Worx

better than some employees. This successful

partnership gave us the incentive to

The practical side

Payroll Services

partnership gave us the incentive to reshape

reshape our organisation together.

We are currently rolling out all these

HR audit

plans in the organisation. Whenever we

Organisation development

Growing pains

have questions or require an adjust-

Change guidance

This reorganisation was inevitable. We

ment, we can always rely on SD Worx.


our organisation together. Now that we have performed this strategic assessment, we are prepared for our second establishment.”


New Belgian Shell payroll system swiftly and expertly installed

payroll tax & legal

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.

“Despite the Shell Group’s decision

In a way, the logic that used to be in

A seamless transition

to work with preferred suppliers, we

the minds of HR staff was turned into

Our internal communications also

needed a Belgian HR service provider


played an important role in the

with extensive experience in the local

smooth implementation. In such a

market because of a number of

Success built on cooperation

drastic transition, and even though it

specific requirements regarding

Our new payroll system had to go

was happening behind the scenes,

payroll services.

live on 1 January 2015, within a mere

all our employees had to be well

nine months. SD Worx, too, was

informed. Yet, the transition has been

We issued an invitation to tender for

conscious that this was a tight dead-

seamless and accurate, and no one

that purpose. The aim was to link our

line and assigned an experienced

noticed anything. Mission accom-

payroll system to the international

team to the task.


Shell system. Competitive pricing was also one of the decision criteria.

As a customer, it is great to feel that you are being taken seriously. They

Mutual communication

responded quickly to questions and

SD Worx scored the best. For our

took action whenever issues popped

Belgian Shell

wage calculations which until then


Established in: 1930

had been running as a stand-alone

Employees: +/- 400 (Belgian Shell

system, they built in SAP a single

Feedback was a two-way street.

platform that could ‘talk’ to Shell’s

Working together was enjoyable be-

in their work can a project of such magnitude

platform. No mean feat for a complex

cause of such interaction. It was clear

Services provided by SD Worx

be implemented swiftly, efficiently and

organisation with many different wor-

that we were aiming towards the

Payroll Services

king statutes and joint committees.

same goal. This was a key element in


In addition, many processes were

the successful implementation of this

Payroll on site

automated, modernised and aligned.


Legal Consultancy

“Only with a stable partner very knowledgeable

successfully. Expertise and a proactive approach are required to make sure no time is lost. SD Worx offered both.”


and CRI), spread over 3 sites


It was clear that we were aiming towards the same goal.�

Wicher Groen Country HR Manager Belgium & Luxembourg at Belgian Shell


Thomas Buerman Campus Director at Ghent University Global Campus



SD Worx translated very specific and technical subject matter into understandable and concrete answers.�

tax & legal

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.

Intercontinental advice for new UGent campus “Unlike other projects, UGent did not

Up to the challenge

Removing uncertainties

send any temporary staff to the

The clock was ticking and resources

SD Worx translated this very specific

South Korean campus. The staff had

were limited. Consequently, I could

and technical subject matter into

to be employed for several years in an

not afford a lot of trial and error. When

understandable and concrete

organisation specifically established

recruitment started in South Korea, in

answers for our employees. What is

for that purpose. Together, staff

early 2014, I called in SD Worx. What

the amount of their social contribu-

members also represented a variety

gave me the confidence to do so?

tion in South Korea in terms of e.g.

of work statutes and nationalities.

Their thorough knowledge of UGent,

pension or health insurance? In which

A one-of-a-kind project, which meant

the Belgian and European legislation,

country should they be paying taxes?

that we could not rely on our own

our pleasant working relationship and

Are they required to have their names

experience or that of other Belgian

their visible ambition to sink their

struck off the National Register? Are


teeth into the challenge.

there tax benefits in South Korea to

Within reach

From specific to generic

situation in this respect upon their

Initially, I contacted a large HR

How are social security and taxation

return? The consultancy services

services provider with branches all

organised in South Korea? SD Worx

provided by SD Worx allowed us to

over the world. Having received an

investigated those aspects in detail for

eliminate many uncertainties.”

answer from London, I suspected

the three groups we employ there.

that this would be a rather difficult

Firstly for myself, a civil servant and the


process, over too great a distance.

only person to remain on the UGent

Established in: 1817

which they are entitled? What is their

I heard many good things from our

payroll. Secondly, for Belgian em-

Employees at UGent: +/- 9,000

were the perfect partner with a ready-made

personnel department about working

ployees who are paid in South Korea.

Students at UGent: > 41,000

“SD Worx did not claim beforehand that they solution for a South Korean context. They

with SD Worx and the quality of their

And finally for non-Belgian employees

Faculty departments: 117

knew, however, that because of the expertise

tax and legal advice. I also discovered

who are on the South Korean payroll.

Employees at Ghent University Global

they have built in Europe, they could propose

that SD Worx had already implemented

For example, we have staff from

Campus: 20

their services. This, combined with their

a similar project in South Korea, even

Thailand, India, China and Greece.

though Asia is not one of their

Since it is impossible to give individual

Services provided by SD Worx


advice covering each nationality and

International Employment Services:

situation, SD Worx produced a general

Tax & Legal

report for that third group.


ambition to sink their teeth into this challenge and their pioneering spirit, gave me every confidence that they would successfully complete this project.”


Frank Rudolf Director Payroll at PAREXEL


With fewer partners, our European payroll is lighter, clearer and more efficient.”


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.

PAREXEL international payroll considerably simplified “We operate on a global scale as one

candidate providers. We then conduc-

A satisfied customer

of the largest players in this market.

ted an in-depth analysis based on a

To us, the benefits are clear: we were

Our position remains solid, particularly

range of parameters. Some of the

able to reduce the number of providers

in Europe which is home to the second

things we were looking for were

in Europe from 24 to only 2. Our

largest biopharmaceutical market in the

compatibility with our global systems,

workload for staff involved in payroll

world. When I started working for

and the best price-performance ratio.

processing has been reduced, and is

PAREXEL, SD Worx was only mana-

more clearly defined. Our payroll

ging PAREXEL’s payroll in Germany,

Data protection as a priority

activities in Europe have also become

our largest entity within Europe.

The final decision was made on the

much more efficient. In addition, we

basis of the level of protection needed

have made significant improvements to

Less is more

for our payroll data. Only the highest

our reporting systems, both locally and

Having offices and research centres

security standards would do. We

globally. This has enabled us to meet

across 24 European countries meant

selected SD Worx for the payroll

all compliance requirements stipulated

dealing with 24 different payroll

services in fifteen countries. The other

by international regulations.”

providers – a rather inefficient way of

nine – mostly located in Central and

doing things. In addition, we experien-

Eastern Europe – are serviced by a

ced issues with compliance, and data

different provider, who proved to be the

security privacy violations on a regular

best option for this region at that time.

basis. While data privacy is of the

“SD Worx takes a very proactive approach. Working with a partner as committed as SD Worx is a true pleasure.”

PAREXEL Established in: 1982

greatest importance in our research

Well-oiled and running

Employees worldwide: +/- 17,200

activities, we also want to guarantee

As soon as we had made our final

Employees in EMEA: +/- 7,000

the same level of protection of privacy

decision, the project took off. The full

Employees in the Americas:

for our employees.

implementation of SD Worx in those

+/- 5,500

fifteen countries only took one year to

Employees in APAC: +/- 4,700

Weak links

complete, from August 2013 to June

It was clear to us that we had to

2014 – well within the agreed time

Services provided by SD Worx

eliminate as many risks and weak links

frame. Another major aspect: the entire

Managed Payroll Services in 10

as possible, and that the solution

transition went smoothly, without any


would hinge on scalability. Our


Comprehensive Payroll Services in

invitation to tender resulted in ten

5 countries 21

payroll tax & legal hr

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.�


Quant ICT builds its future HR policy “SD Worx meticulously scrutinised our

For the practical side of things also,

Continuous assessment

staffing policy on the basis of questi-

SD Worx was ready to give us the

Our contact persons at SD Worx

onnaires and interviews. Our people’s

necessary knowledge and expertise.

know our organisation through and

work schedules are extremely flexible

This allowed us to update our

through. They also have regular

and organised in shifts. And with an

administrative documents in compliance

personal contacts with our em-

average age of 35 years, we are also

with the latest legal developments.

ployees. This enables them to

a ‘young’ company. As revealed by

After all, SD Worx monitors all legal

perfectly understand our needs with a

the audit, this creates specific HR

changes closely and we are more than

minimum of explanation, or to suggest

expectations. A good balance

happy to make use of that service.

the right tools. A very reassuring way

between work and private life, better

Pierre-André Guillaume CEO of Quant ICT

SD Worx perfectly understands our needs with a minimum of explanation.”

of working and the perfect basis for a

internal communication, individual

Innovative tools

opportunities for training and parental

Available anytime and anywhere, fast

leave: our employees know what they

and easy: our employees set high

Quant ICT

want. Based on the audit, SD Worx

standards for any system that would

Established in: 1999

will now help us devise new policies,

handle HR. SD Worx was able to

Employees: 30

update our work rules and employ-

grant those wishes. For instance,

Turnover: 8.5 million euro

ment contracts, and so on.

everyone agrees on the user

modern HR policy that works.”

friendliness of ‘My Work and Me’ in Tailored advice and support

managing payslips and leave

Services provided by SD Worx

SD Worx supports the HR policy of

requests. The next step promises to

Payroll Services

Quant ICT in all its aspects. By

be similarly worthwhile: we are further

HR audit

following ‘People Management’

improving the efficiency of our HR

HR & Legal Consultancy

courses, our employees have already

policy by supplementing it with an

HR Self Service

had the opportunity to develop into

integrated application for the reimbur-

Performance Dashboard

excellent team leaders, for example.

sement of expenses.



CHU Dinant Godinne zooms in on staff engagement


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.

“SD Worx managed to design an

residents are temporarily placed in

Every single result was substantiated,

engagement survey fully tailored to

our services every 6 months, while

giving us the necessary basis to draw

our needs. As an academic institution,

we train 1,000 interns annually. And

up specific action plans and send a

we set very high standards when it

our permanent staff must be able to

breath of fresh air blowing through

comes to methodology for example.

constantly retrain as well. To sum up


As a medical player, however, we

the situation: hard to beat such a

deal with a complex staffing situation

level of complexity.

that you will not find in any other sector. In our view, the fact that the

A clear view on the matter

SD Worx database allowed us to

SD Worx got as many as 70% of our

benchmark our results was also a

employees to take part in the survey

unique asset on the market.

by explaining in detail the how and why of the research. The detailed

A complex HR landscape

analysis immediately revealed the

Gauging the satisfaction of more than

specificity of our sector. For instance,

2,700 employees is not an easy task,

the involvement of our employees

regardless of our sector’s idiosyncra-

ranks higher than satisfaction with

sies. Under normal circumstances, we

their job. Implausible, certainly, yet

have as many as 160 different types

perfectly understandable considering

CHU of Dinant-Godinne

of schedules. Thousands of physi-

the close bonds our employees often

Established in: 1965

cians and nurses work day and night

forge with patients.

Employees: +/- 2,700

“Thanks to the rich database that SD Worx has

in shift systems with flexible hours.

built up over the years, we were able to

About half of them work part time.

The survey also showed salary,

benchmark our results against other large

And a sixth of our people ensure a

internal communication and growth

permanence in holiday periods.

opportunities to be the main points of

Services provided by SD Worx

On top of that, 110 new medical


Engagement Survey

companies in Belgium. We considered such expertise to be a unique advantage.”


Interns: > 1,000 Turnover: 250 million euro


SD Worx managed to design an engagement survey fully tailored to our needs.�

Didier Cloquet Human Resources Director at CHU Dinant Godinne


A single point of contact, one solution, four countries


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

“Even though we share the same

point of contact. For us, that is a huge

It’s all about the basics

activities, Belgium, Netherlands,

asset. We see our regular contact on a

In the beginning, we under-used the

Luxembourg and France were

regular basis and get quick answers

capabilities of reporting at European

operating as separate entities. We

when needed. Changes are made

level. There were still teething pains

wanted to bring HR systems into one

swiftly and new software implemented

when we really needed that function,

single platform; get rid of all kinds of


but SD Worx quickly incorporated our

systems, and be done with the Unnecessary bells and whistles

time and attendance is also a very

looking for a party that could manage

In Belgium, SD Worx was already

user-friendly tool. Work schedules and

that effectively at European level. Such

taking care of our payroll... to our

hours worked are automatically and

integration would offer many advanta-

satisfaction. We naturally extended

accurately entered into the payroll. This

ges, but simultaneously create a series

that service to the other three

is crucial, since it is not enough to

of challenges.

countries where we operate. We then

have plenty of fancy HR tools: if you

looked for a centralised solution for

do not pay employees correctly and

Copy-paste: not an option

time and attendance and issues such

on time, all your technology and efforts

International HR is a complex tangle,

as digital documenting, employee

are pointless.”

with major differences in tax and

self-service and management

contributions systems for instance.

self-service. Obviously, we requested

Even wage calculations differ. Payroll

and compared quotes from multiple

EFR bv

providers only exist in Belgium. Just

providers. And we were presented

Established in: 2007

copying an excellent solution to apply

with other solutions, some perhaps

Active in: Belgium, the Netherlands,

it in another country was not an

even with more functionalities than

Luxembourg and France

option, since there is no such thing as

what we got from SD Worx, but at

Employees: +/- 2,600

“one single system on the market”.

exorbitant prices. Only major corpora-

Filling stations: 1,250

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.” 26

comments into a solution. In addition,

different forms of reporting. We were

tions with at least ten or twenty One point of contact

thousand employees can justify such

Services provided by SD Worx

But SD Worx definitely has the

costs. In its proposal, SD Worx took

Managed Payroll Services in 4

expertise and the partners to offer the

our needs and company size into


right solution – for us – at European

account. That is why the SD Worx

Cross-border reporting via Cubes

level. In addition, they act as a single

offer was the best choice.

Time & Attendance via Protime


SD Worx offered the solution with the best value for money.�

Paul Siemelink Vice-president Human Resources & Office Facilities at EFR


Els Neyens Talent Manager at Cofely Services



We followed a demanding yet flawless trajectory in order to implement FIP.�

payroll hr

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.

Cofely Services will gradually roll out flexible remuneration Cofely Services is part of the French

A demanding yet flawless

First in the sector

energy giant GDF Suez. We employ


Employees were quite surprised by

just under 2,000 people and are a

We had to follow a demanding yet

the wide range of benefits and their

market leader in integrated facilities

flawless trajectory in order to

corresponding monetary value. The

solutions. As far as payroll is

implement FIP. The process started

fact that we were able to set this

concerned, we have worked well for

with a detailed inventory of all our

awareness process in motion is a

many years with SD Worx and we

existing benefits. SD Worx then

good thing. However, we also want

knew they were the pioneer in the

determined which of those benefits

to make the most of this innovative

area of flexible remuneration.

could be included in a FIP. Based on

remuneration system to get them

a comprehensive checklist, we later

thinking about smarter ways to

Towards a future-oriented

composed the first package of

address their mobility.

reward policy

benefits. It really contains something

Attracting and retaining a sufficient

for everyone: from bicycles to

Eventually, all of our 2,000 employees

number of technicians and engineers

multimedia and pension savings, and

must have access to FIP. The fact that

is a major challenge. We are very

even a donation to a charity. We will

we were the first in our industry to

much involved in the development of

soon examine the package to

implement this innovative reward

our employees, but it goes without

determine how we should adjust it

concept is a bonus. FIP does require

saying that having an attractive

and which benefit combinations are

some explanation during recruitment

remuneration package is also a key

the most popular.

interviews, but the concept is invariably


greeted with enthusiasm.” The roll-out of FIP was accompanied

“Attracting and retaining a sufficient number of technicians and engineers is a major

For us, moving away from the

by information sessions in all our

Cofely Services

one-size-fits-all principle to meet the

regional branches, from Ghent to

Established in: 1963

individual needs of our employees

Liege. SD Worx was always at hand

Employees: +/- 2,000

was a logical step in the development

to provide further clarification on the

having an attractive pay package is also a key

of a future-oriented reward policy. In

calculation method of specific

Services provided by SD Worx

factor. For us, moving away from the one-size-

the autumn of 2013, we sat at the

benefits and to answer any other

Payroll Services

fits-all principle to introduce the innovative FIP

table with SD Worx for the first time

technical questions.

Flex Income Plan

challenge. And it goes without saying that

in the organisation was a logical step in the development of a future-oriented pay policy.”

in order to discuss the possibilities


offered by FIP.

Training 29


Sustainability ambitions

To support our sustainability ambitions, SD Worx is a member of:

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.

• 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



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.

General Assembly

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,

The General Assembly’s main tasks are as follows:

remuneration and evaluation of members of the Executive

• changing the articles of association;


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

Communication Each year the Board of Directors compiles a detailed

• approval of the budget (NPO) and annual accounts;

annual report, which outlines the company’s current status,

• and profit appropriation (limited company).

possible risks and future perspectives. It highlights actual examples of corporate governance, provides an overview

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.

of the financial position and reflects the activities of the Board of Directors and the organisation.

Board of Directors

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-

The Board of Directors has a strategic and control function

sary experience and knowledge from the various disciplines

and ensures that the company operates with maximum

relevant to the company amongst its members and to

efficiency. The Board of Directors outlines the mission,

safeguard continuity in the event of changes in its structure.

strategy and general policies. Decisions concerning orga-

SD Worx consequently aims to appoint minimum eight and

nisation structure, reorganisation, cooperation agreements,

maximum twelve directors.

mergers and take-overs are also part of its assignment.

More information on:


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

required diversity and complementarity. The Board consists

The Board of Directors oversees finances and investments,

of independent directors, with the exception of the

checks the integrity of financial reporting and monitors

Managing Director.

The 2014 figures show that our new strategy is bearing fruit."

Directors on 1/1/2015 from 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



Executive Committee 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.

Hector „ Vermeersch Chief Financial Officer

 Sige Marien Director Consulting Eric Janssens „ Director SME

Anne-Marie Cootjans „ Corporate Services Officer Tom Wouters „ Chief Information Officer


‚ Harold Rijckaert Director Large Enterprises

‚ Thierry Vanbever Director International

Committees 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 wellinformed decisions and fulfil its task as a monitoring and control body as successfully as possible.

Audit committee The SD Worx audit committee verifies that the organisation operates correctly


and efficiently. It monitors internal and external inspections, the efficiency of the

Frederik Van Bladel - chairman

audit department, the appointment, dismissal and remuneration of the internal

Filip Dierckx

audit manager. It checks reports, responds to questions and acts as a

Patrick De Vos

communication platform or intermediary between the auditor and the Board of

Riet Docx

Directors. The audit committee draws up a long-term programme and is given access to information sources which fall under its specific authority.

Strategic committee

Steven  Van Hoorebeke Managing Director

ƒ Hilde Haems Chief HR Officer

The SD Worx strategic committee supports the Board of Directors in its strategic


and control function and focuses on its mission, policies and long-term

Filip Dierckx - chairman

objectives. If necessary, internal or external advice is sought or experts are called

Luc Luyten


Dirk Collier

Remuneration and appointment committee

Not in the photo:  Koen Goyvaerts Chief Sales & Marketing Officer

The SD Worx remuneration and appointment committee formulates proposals


concerning the appointment, remuneration and evaluation of the directors,

Luc Luyten - chairman

managing director and executive management, and monitors the market

Filip Dierckx

conformity of remuneration. It also deals with all direct questions concerning remuneration and appointments, and sets out the overall remuneration policy.




SD Worx is celebrating its 70th anniversary this 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"


The consolidated financial statements of the SD Worx

Composition of the SD Worx group on 31.12.2014

group contain a concise summary of the annual

SD Worx vzw

SAK nv

financial statements of the different entities of the

SD Worx for Society vso cvba

Protime nv

group. These financial statements give a true picture

SD Diensten nv

Hazel Heartwood cvba

of the assets, financial position and results of the


SD Worx sa (Luxembourg)

SD Worx group. The statutory auditors have given

IVD nv

SD Worx Nederland bv

Annual figures 2014

their unqualified approval to the different annual

LWB nv

SD Worx sas (France)

financial statements.

Sodeco nv

SD Worx GmbH (Germany)

Consolidated profit-and-loss account of the

Consolidated balance sheet of the SD Worx group

SD Worx group (in 1,000 euro) in accordance with Belgian Generally

(in 1,000 euro) in accordance with Belgian Generally Accepted Accounting

Accepted Accounting Principles.



Ÿ Equity capital (excl. result)


Ÿ Minority interest

2,675 27,234



2014 2013


Ÿ Total turnover

Ÿ Intangible fixed assets &


261,975 255,920

2014 2013 11,151

consolidation differences Ÿ Financial profits from



operations 10,544

Ÿ Financial profits from

Ÿ Tangible fixed assets



Ÿ Results for the year

Ÿ Financial fixed assets



Total equity capital


Fixed assets 82,567

Ÿ Provision for risks & 273,756

Ÿ Receivables on +1 year



Ÿ Receivables on -1 year



Ÿ Personnel & fees



Ÿ Investments


Ÿ ICT costs



Ÿ Liquid assets



Ÿ Office & administration



Ÿ Accrued and deferred




328,277 2,201 2,054




assets Profits 288,710

2014 2013



Total of provision 3,486





Ÿ Debts over +1 year



Ÿ Customer funds


Ÿ Trade debts



Ÿ Debts concerning tax &




Ÿ Promotion costs



Ÿ Depreciations



Ÿ Miscellaneous costs



Ÿ Other debts

856 4,951

Ÿ Taxes



Ÿ Accrued and deferred


Ÿ Minority interest

1,618 Costs 261,476

Profit 27,234

Current assets 1,851,436



1,190 271,702 2,054 38

Total assets 1,934,002




Total debts



Total liabilities 1,934,002


R.P. Steven Van Hoorebeke. Printed on eco-friendly FSC paper.

SD Worx - Annual Report 2014  
Read more
Read more
Similar to
Popular now
Just for you