sd worx - annual report 2014

annual report 2014

Expertise as a driver of innovation

An innovative approach often energises progress

annual report 2014


Steven Van HoorebekeManaging Director of SD Worx

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


Since the 1990s, we help our Belgian

customers not only with payroll, but

also with consultancy and training

services. As far as our international

expansion is concerned, it began in

the 2000s, with branches in

Luxembourg, the Netherlands, France

and Germany. Ever since the creation

of the Payroll Services Alliance, our

pan-European partner network, we

have become a solid player covering

28 countries.

2014, a strong year

2014 was a strong year for SD Worx.

Our net profit increased from 2.1

million euro in 2013 to 27 million euro

in 2014. The most remarkable

element of this result was our

operating profit without financial

income which rose to 14 million euro

in 2014. We will keep aiming for this

level in the coming years. In addition,

our investments performed very well.

Positive figures

How, in a market under pressure, did

we manage to achieve such positive

results? A series of conditions led to

this, as we had put a stop to a

number of loss-making activities over

the past years. Moreover, we trimmed

– and subsequently kept tightly

controlled – the cost structure. We

achieved this through process

optimisation, lean methodologies and

smart outsourcing. Finally, we drew up

a new strategy which is clearly bearing

fruit. Above all, we owe our results to

the entire SD Worx team. Our people

are doing their utmost at all levels and

in all activities of our organisation. This

allowed us to achieve the necessary

growth that gives us the investment

facilities to keep innovating.

With our SME division, for example,

we achieved 9% growth in a mature

market. Our international division, too,

experienced much stronger growth

than budgeted.

Of course, we will not be able to

repeat such a significant growth in

profits in the current year, but we will

strive to keep the operating figures at

this level.

A strategy that works

Last year, we organised a roadshow

to present our new strategy to our

2,000 employees in five countries.

This makes sure that all our employees

in Belgium and abroad have the same

“experience” of the transition we are

going through and of the three pillars

we are aiming for in our work.

Customer experience is the first. We

cannot deny that payroll threatens to

become a “commodity”. Our

customers expect the correct and

timely calculation and payment of

wages – despite the complexity of it all

sometimes. In this activity, we should

be able to surprise our customers. We

have to prove that they are better off

with us, that we have more

capabilities and that we do more than

other players.

Part nerships is our second pillar.

Today, more than ever, it is clear that a

company cannot do everything itself.

One company cannot be everywhere

and provide the know-how and

financial resources for everything.

In order to innovate fast and effectively

in specific areas, a company should

look for suitable partners.

At SD Worx, we are making every

Driving innovation in search of added value: this has been our guiding

principle throughout our existence. We started up back in 1945, when

payroll was becoming a more complex matter. In the 1960s, for instance, we were the first payroll

company to introduce technology, which also allowed us to provide

services to the bigger companies.

“2015 marks yet another new celebratory

milestone in our company’s history as we blow

out 70 candles. We have been able to develop

and strengthen all three pillars in our strategy –

customer focus, partnerships and a proactive

approach – because of our extensive experience.”

foreword

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effort to expand our ecosystem, both

nationally and internationally. Our

current success, for instance, can be

attributed to the fact that many

accounting firms are keen to work

with us, and at European level, we

have achieved strong results because

of our partnership within the Payroll

Services Alliance. We are also

strengthening our presence in the

Netherlands by joining forces with

CTB, a provider of HRM and payroll

systems and payroll firm specialised in

the construction industry.

Our partnerships also enable us to

broaden the range of products and

services we offer our customers. For

instance, after Cornerstone

OnDemand, we also signed an

international cooperation agreement

with Talentsoft, yet another top player

in talent management software. That

allows us to proactively trim our HR

services to match our customers’

requirements.

Proactivity as a mind-set

The third pillar – which is closely

related to partnerships and customer

focus – is proactivity. Thanks to our

close relationships with customers

and prospects, we know what their

needs are and will be, and how we

can meet those needs.

We do not just rely on our gut feeling

when offering solutions. Quite the

opposite. Over the years, we have

accumulated a wealth of data. On that

basis, we can provide our customers

with targeted information, advice and

tools to capitalise on potential

opportunities. We are also able to

benchmark them with other players in

their sector, in the field of Reward for

example. We had already translated

such an option into practical salary

surveys and the online Reward

ProfilerTM. Our Performance

Dashboard has now been expanded

as well to include reward data. This

new interactive online reporting tool

includes about 270 common functions.

In other words, based on our rich

expertise, we can offer companies

and organisations real value.

Innovation is our second nature

2014 was yet another very innovative

year for us. It was a strong year in the

area of new legislation – and

corresponding adjustments in our

payroll engine. And we went further

than that: we rewrote our payroll

software for SMEs to meet the latest

standards for mobile operation and

ease of use and added lots of

self-service capabilities.

In the context of our various payroll

suites, we involve our customers

proactively in choosing innovative

features for future releases of the

software.

More and more customers – whether

SMEs or large players – entrust us

with their expat, salary split and

secondment projects. For them, we

are the only player to integrate tax

service in the payroll processing in

various countries.

We also rolled out innovations in our

own company. Our own employees

are now enjoying the Flex Income

PlanTM, for example. As a matter of

fact, we are currently one of the few

players to implement it also in large

and complex organisations.

We carried out another innovation in

our SME offices. Through extensive

automation of the payroll process, we

ensured that our colleagues were

given more scope to focus on what

really matters: their customers, and

informing and supporting them

proactively.

In addition, by focussing on specific

sectors, we can innovate in a targeted

way. For example, last year we

developed for the healthcare sector

specific payroll software, which is now

being used for the first time. For the

public sector – particularly medium-

sized city corporations, municipalities

and PCSW – we developed a specific

SAP payroll solution.

People are our strength

The force behind these innovations?

Our loyal customers combined with

our employees and their vast

expertise. We are proud of the result

that we have achieved, all together.

The figures prove that our teams have

worked hard and with focus; we are

aware that the pressure is high.

Our thanks go to you, our customers,

for putting your trust in our

organisation. We value greatly your

feedback on our services and the

innovations that we may implement in

the coming years. We will continue to

invest in process automation and

systems to extract more information

from our data, so that we may better

assist and advise you.

We would also like to thank all our

employees for their dedication and

perseverance. Every day, on the

strength of their know-how and

experience, they provide their

customers with top quality service.

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Filip DierckxChairman of the Board of Directors of SD Worx

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

7

”

SD Worx stands for a full service package in the areas of Payroll, HR, Tax and Social Law consultancy. By way of a broad service offering, we deliver the best suited approach for

every situation: tailored advice, training, in-house or external support, backed by the necessary automation. In doing so, we rely on adapted tools, proven methods, a leading knowledge centre and – above all – specialist staff

who are fully committed to delivering results.

Result-driven HR

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

HRSupport for all of your

HR processes

Tax & LegalTax and social-legal support

PayrollEfficient payroll calculations

and administration

LearningPurposive training courses allow HR employees to shine

Technology ServicesAutomation of all payroll and HR processes

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

OutsourcingPayroll solutions, offering various outsourcing levels.

From SaaS (Software as a Service) to full Business Process Outsourcing

corporate

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2,000HR PROFESSIONALS

28 COUNTRIES

70 YEARSPAYROLLHR TAX & LEGAL

€ 262 millionTOTAL TURNOVER 2014:

OF EXPERTISE

INTEGRATEDSOLUTIONS

REGIONALOFFICES IN BELGIUM

1,350,000PAYSLIPS PER MONTH

54,000CLIENT BASE

OUTSOURCING

TECHNOLOGYSERVICES

LEARNING

CONSULTING

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Payroll Services AllianceSD Worx has its own branch offices in Belgium, The Netherlands, Luxembourg, France and Germany. The company is a co-founding member of the Payroll Services Alliance, the organisation that pools the strengths, experience and expertise of the biggest European players in the field of payroll calculation:

• SD Worx (Western Europe), • Aditro (Northern Europe), • Elanor (Central and Eastern Europe), • Cintra (United Kingdom and Ireland) • Trianon (Switzerland) and Seresco (Southern Europe).

The company formerly known as Landbouwkrediet bought shares in

Centea mid-2011. After an intensive period of data migration and

integration, the two medium-sized bank insurance companies merged in

April 2013 to create Crelan. The cooperative bank immediately gave

its HR policy a makeover.

“Their solid reputation, years of market

leadership, expertise and formal long-term

commitment regarding the suggested solution

certainly played a role when we chose

SD Worx. Otherwise, we would not have

switched with bag and baggage.”

payroll hr

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

“In a merged company, all the actors

contribute to the mix with their

expertise, strengths and characteris-

tics. Our priority was to create an

organisation in which everyone could

feel at home again and could be

deployed based on his or her talents.

A solid foundation

A merger implies a new entity, with an

identity and culture, and consequently

also the development of a common

HR policy: harmonisation of staff

statutes as well as working and wage

conditions; definition of functions, roles

and responsibilities; and development

and implementation of common HR

management systems such as

recruitment, assessment and training.

We took care of this crucial foundation

ourselves.

Inadequate tools

Our workforce nearly doubled as a

result of the merger. This meant that

the available HR support tools were no

longer adapted to our size. Rather than

adjusting an inadequate system, we

surveyed the market for alternatives in

late 2013.

Looking for the whole picture

We wanted to integrate as many HR

applications as possible. Think of the

payroll processing and management

of HR data, including the so-called

soft HR processes such as recruitment,

evaluation, internal transfer and

succession management. Easy

access for the purpose of modifying

certain elements of one’s own data;

the ability to offer alternative forms of

training such as e-learning; an

automated support of the evaluation

cycle; seamless internal and external

recruitment with a link to social media;

training for our employees and for the

independent agents and their

employees ... These are some of the

demands we place on an integrated

solution.

Stronger with a partner

SD Worx was able to offer us a single

streamlined solution, on the strength of

their own systems and partnerships

with leading software vendors. They

control that side of the collaboration

and act for the software suppliers as a

single third party. This is very con-

venient, especially if your own HR and

ICT people are also involved in the

project. We gave SD Worx the green

light halfway through 2014.

Impossible to do from scratch

For practical reasons, January 1st was

chosen as the date for the move to a

different payroll service provider. After

six months of intensive cooperation,

that transition went smoothly.

The further roll-out followed an equally

tight schedule. It involved pumping all

the data into the platform and launching

our talent management tool. Based on

our experience to date, we are

confident that after just one year we will

have the HR platform that we had in

mind. Developing it ourselves would

have been prohibitive and impossible to

achieve within that time frame.”

Crelan nv

Established in: 2013

Employees: 1,007

Branches: 778

Services provided by SD Worx

Payroll Services

X-Tend

HR software Cornerstone OnDemand

Stephan LeyssenManager of HR, Organisation and Complaints at Crelan

” SD Worx was able to offer us a single streamlined solution for HR and payroll, on the strength of their own systems and close partnerships with leading software vendors.”

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“From the get-go SD Worx demonstrated that its

reputation was justified, in terms of consultancy as

well as software solutions. Now that we are rolling out

the reporting tool Cubes, for example, we are looking

forward to the benefits for our payroll management.”

Under the umbrella of the Moroccan Groupe Banque Centrale Populaire, Chaabi Bank has been focussing on the Moroccan community in Europe

ever since 1972. The bank also added a European passport when it

set up ‘Chaabi Bank Europe’ in 2007, opening one branch after the other.

The payroll is monitored locally in each country. However, in order to

harmonise the reporting of all the European branches and centralise

payroll management, the bank decided to contract SD Worx.

The green light was given for the French payroll in early 2014.

payroll tax & legal

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Chaabi Bank deploys payroll and HR across borders

“SD Worx scores way above the

competition on the Belgian market.

This is an assurance of quality par

excellence. It also gave us the

necessary confidence to outsource

payroll and personnel administration

for our 240 French employees.

The transition process was very

smooth. They listened attentively to

our concerns. Deadlines were met

with great precision. And SD Worx

provided dedicated contact persons:

in addition to being efficient, it

especially creates a pleasant

collaboration.

Always ‘spot on’

We can always turn to our contacts,

even for very specific legal or

regulatory advice. For instance, they

helped us decipher the “déclaration

sociale nominative” (DSN - electronic

payroll reporting). These new

administrative HR requirements are in

effect since 1 April 2015 for all

enterprises in France. They required a

great deal of adaptability, from us as

well as from SD Worx. Also, we

regularly appeal to the Tax & Legal

division of SD Worx for other

international legal advice.

A suitable software platform

A new payroll manager also comes

with new software and tools.

Fortunately, SD Worx demonstrated

that its strong reputation was

justified. Especially Cubes – a

cross-border reporting tool – got us

over the hurdles. That software is

perfect for our international payroll.

The Cubes management is fully

automated and centralised, taking

into account the specific regulations

applicable in each country. In one fell

swoop, everything has become much

more efficient.

With Cubes we will gain a wealth of

insights which we can develop into

specific action plans. To monitor the

balance between men and women

for example; or to harmonise the

differences in working hours between

countries.

Looking forward

Our collaboration here is clearly a

long-term partnership. At the

beginning of 2015, for instance,

SD Worx took charge of our payroll in

Spain and Germany. The United

Kingdom, Italy, the Netherlands and

Belgium will be next in the course of

2016. Still a lot of work ahead, but

our first partnership year holds many

wonderful promises for the future.

Chaabi Bank


Employees in France: 240

Employees in Europe: 360


Managed Payroll Services in

3 countries

Cross-border reporting via Cubes

Karine GoldenbergHead of Human Resources at Chaabi Bank

” SD Worx was able to present us with the perfect innovative solution to manage our payroll all over Europe.”

13

” We were often taking decisions based on a gut feeling. As we grow, however, this has become difficult to sustain. Professionalisation and objectivity are a must.”

Joost HamGeneral Manager

at De Vlietoever wzc

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SD Worx future-proofs De Vlietoever

“Over a period of about 15 years, the

number of our residents had more

than doubled, from 38 to 81. The

number of staff increased accordingly.

This is due to the fact that most

residents are more heavily care-depen-

dent, but also because it is prescribed

by the legislation. At De Vlietoever we

employ home care specialists, nurses,

kitchen and cleaning staff, paramedics

and activity organisers.

The perfect tandem

Ten years ago, due to lingering issues

with our former payroll service provider,

we looked for another solution. It was

crucial that our new partner should

have extensive expertise in our sector.

SD Worx was able to demonstrate

such expertise with ample references.

In addition, the rapport with the payroll

consultant was immediate. She now

knows our company through and

through. Her tips and advice are

always valuable. This successful

partnership gave us the incentive to

reshape our organisation together.

Growing pains

This reorganisation was inevitable. We

had been wearing various hats and were

often taking decisions based on a gut

feeling. As we grow, however, this has

become difficult to sustain. Especially in

view of the fact that in 2016 we will be

opening a second residential care centre,

which will double our workforce once

again. Professionalisation and objectivity

are a must.

A smooth transition

We began by tackling the basics: our

mission and vision. Both were no

longer in line with the evolution of care.

Everyone was subsequently given a

defined job, which is now set out in job

descriptions, competency profiles and

the organisational chart. In addition,

two head nurses will from now on

conduct performance appraisals. We

incorporated all that in a process. We

wanted to coach internally, but lacked

the expertise, so we learned to lead

and conduct evaluation interviews.

The practical side

We are currently rolling out all these

plans in the organisation. Whenever we

have questions or require an adjust-

ment, we can always rely on SD Worx.

Our next challenge will be to replicate

the implementation of this blueprint in

our second establishment. Considering

the way the current project is going, we

are confident that we are ready for it.

A collaborative partner

SD Worx even went a step further by

making us aware of grant opportunities,

something we had never considered.

They also took care of the applications

and the follow-up. This financial

support allowed us to recruit a

strategic manager among other staff. In

my opinion, it goes to show once again

that SD Worx is a committed partner

who really collaborates with you.”

De Vlietoever wzc


Empoyees De Vlietoever: 52

Residents De Vlietoever: 81


Payroll Services

HR audit

Organisation development

Change guidance

Training

The number of people moving into residential care complex De Vlietoever

has been rising steadily. A second establishment is therefore due to

open in 2016. But before the company could offer others the best

possible home, it also had to make sure its own house was in order. For

that, in collaboration with SD Worx, it gave the whole organisation and HR

policy a full makeover.

“Our dedicated payroll consultant at SD Worx

has known our company for a long time and

better than some employees. This successful

partnership gave us the incentive to reshape

our organisation together. Now that we have

performed this strategic assessment, we are

prepared for our second establishment.”

payroll hr

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New Belgian Shell payroll system swiftly and expertly installed

“Despite the Shell Group’s decision

to work with preferred suppliers, we

needed a Belgian HR service provider

with extensive experience in the local

market because of a number of

specific requirements regarding

payroll services.

We issued an invitation to tender for

that purpose. The aim was to link our

payroll system to the international

Shell system. Competitive pricing

was also one of the decision criteria.

Mutual communication

SD Worx scored the best. For our

wage calculations which until then

had been running as a stand-alone

system, they built in SAP a single

platform that could ‘talk’ to Shell’s

platform. No mean feat for a complex

organisation with many different wor-

king statutes and joint committees.

In addition, many processes were

automated, modernised and aligned.

In a way, the logic that used to be in

the minds of HR staff was turned into

sofware.

Success built on cooperation

Our new payroll system had to go

live on 1 January 2015, within a mere

nine months. SD Worx, too, was

conscious that this was a tight dead-

line and assigned an experienced

team to the task.

As a customer, it is great to feel that

you are being taken seriously. They

responded quickly to questions and

took action whenever issues popped

up.

Feedback was a two-way street.

Working together was enjoyable be-

cause of such interaction. It was clear

that we were aiming towards the

same goal. This was a key element in

the successful implementation of this

project.

A seamless transition

Our internal communications also

played an important role in the

smooth implementation. In such a

drastic transition, and even though it

was happening behind the scenes,

all our employees had to be well

informed. Yet, the transition has been

seamless and accurate, and no one

noticed anything. Mission accom-

plished.”

Belgian Shell


Employees: +/- 400 (Belgian Shell

and CRI), spread over 3 sites


Payroll Services

SAP

Payroll on site

Legal Consultancy

The HR systems between Belgian Shell, its subsidiary CRI and the

parent company had to be aligned in the context of a global agreement.

And this had to be done within a very short time frame.

“Only with a stable partner very knowledgeable

in their work can a project of such magnitude

be implemented swiftly, efficiently and

successfully. Expertise and a proactive

approach are required to make sure no time is

lost. SD Worx offered both.”

payroll tax & legal

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New Belgian Shell payroll system swiftly and expertly installed Wicher Groen

Country HR Manager Belgium & Luxembourg at Belgian Shell

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

17

”

Thomas BuermanCampus Director at

Ghent University Global Campus ” SD Worx translated very specific and technical subject matter into understandable and concrete answers.”

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Intercontinental advice for new UGent campus

“Unlike other projects, UGent did not

send any temporary staff to the

South Korean campus. The staff had

to be employed for several years in an

organisation specifically established

for that purpose. Together, staff

members also represented a variety

of work statutes and nationalities.

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

that we could not rely on our own

experience or that of other Belgian

universities.

Within reach

Initially, I contacted a large HR

services provider with branches all

over the world. Having received an

answer from London, I suspected

that this would be a rather difficult

process, over too great a distance.

I heard many good things from our

personnel department about working

with SD Worx and the quality of their

tax and legal advice. I also discovered

that SD Worx had already implemented

a similar project in South Korea, even

though Asia is not one of their

territories.

Up to the challenge

The clock was ticking and resources

were limited. Consequently, I could

not afford a lot of trial and error. When

recruitment started in South Korea, in

early 2014, I called in SD Worx. What

gave me the confidence to do so?

Their thorough knowledge of UGent,

the Belgian and European legislation,

our pleasant working relationship and

their visible ambition to sink their

teeth into the challenge.

From specific to generic

How are social security and taxation

organised in South Korea? SD Worx

investigated those aspects in detail for

the three groups we employ there.

Firstly for myself, a civil servant and the

only person to remain on the UGent

payroll. Secondly, for Belgian em-

ployees who are paid in South Korea.

And finally for non-Belgian employees

who are on the South Korean payroll.

For example, we have staff from

Thailand, India, China and Greece.

Since it is impossible to give individual

advice covering each nationality and

situation, SD Worx produced a general

report for that third group.

Removing uncertainties

SD Worx translated this very specific

and technical subject matter into

understandable and concrete

answers for our employees. What is

the amount of their social contribu-

tion in South Korea in terms of e.g.

pension or health insurance? In which

country should they be paying taxes?

Are they required to have their names

struck off the National Register? Are

there tax benefits in South Korea to

which they are entitled? What is their

situation in this respect upon their

return? The consultancy services

provided by SD Worx allowed us to

eliminate many uncertainties.”

UGent


Employees at UGent: +/- 9,000

Students at UGent: > 41,000

Faculty departments: 117

Employees at Ghent University Global

Campus: 20


International Employment Services:

Tax & Legal

Training

Since September 2014, students can sign up for a bachelor’s degree

course in Bioscience Engineering at the Ghent University Global Campus

in Incheon, South Korea. An international staff of professors, researchers and administrative

personnel is employed there. SD Worx advised UGent on

employment in South Korea.

“SD Worx did not claim beforehand that they

were the perfect partner with a ready-made

solution for a South Korean context. They

knew, however, that because of the expertise

they have built in Europe, they could propose

their services. This, combined with their

ambition to sink their teeth into this challenge

and their pioneering spirit, gave me every

confidence that they would successfully

complete this project.”

tax & legal

19

Frank RudolfDirector Payroll at PAREXEL

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

PAREXEL international payroll considerably simplified

“We operate on a global scale as one

of the largest players in this market.

Our position remains solid, particularly

in Europe which is home to the second

largest biopharmaceutical market in the

world. When I started working for

PAREXEL, SD Worx was only mana-

ging PAREXEL’s payroll in Germany,

our largest entity within Europe.

Less is more

Having offices and research centres

across 24 European countries meant

dealing with 24 different payroll

providers – a rather inefficient way of

doing things. In addition, we experien-

ced issues with compliance, and data

security privacy violations on a regular

basis. While data privacy is of the

greatest importance in our research

activities, we also want to guarantee

the same level of protection of privacy

for our employees.

Weak links

It was clear to us that we had to

eliminate as many risks and weak links

as possible, and that the solution

would hinge on scalability. Our

invitation to tender resulted in ten

candidate providers. We then conduc-

ted an in-depth analysis based on a

range of parameters. Some of the

things we were looking for were

compatibility with our global systems,

and the best price-performance ratio.

Data protection as a priority

The final decision was made on the

basis of the level of protection needed

for our payroll data. Only the highest

security standards would do. We

selected SD Worx for the payroll

services in fifteen countries. The other

nine – mostly located in Central and

Eastern Europe – are serviced by a

different provider, who proved to be the

best option for this region at that time.

Well-oiled and running

As soon as we had made our final

decision, the project took off. The full

implementation of SD Worx in those

fifteen countries only took one year to

complete, from August 2013 to June

2014 – well within the agreed time

frame. Another major aspect: the entire

transition went smoothly, without any

interruption.

A satisfied customer

To us, the benefits are clear: we were

able to reduce the number of providers

in Europe from 24 to only 2. Our

workload for staff involved in payroll

processing has been reduced, and is

more clearly defined. Our payroll

activities in Europe have also become

much more efficient. In addition, we

have made significant improvements to

our reporting systems, both locally and

globally. This has enabled us to meet

all compliance requirements stipulated

by international regulations.”

PAREXEL


Employees worldwide: +/- 17,200

Employees in EMEA: +/- 7,000

Employees in the Americas:

+/- 5,500

Employees in APAC: +/- 4,700


Managed Payroll Services in 10

countries

Comprehensive Payroll Services in

5 countries

The more parties are involved, the more complex the partnership

becomes, and the greater the margin of error will be.

PAREXEL – an American contract research organisation (CRO)

that conducts clinical research in the biotechnological and medical sectors worldwide – is fully aware

of this. Read on to find out how PAREXEL manages its

payroll in Europe.

“SD Worx takes a very proactive approach.

Working with a partner as committed as

SD Worx is a true pleasure.”

payroll

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As an SME on a steady growing curve, Quant ICT continuously

adjusts its policy to a changing staff situation. The Leuven based expert

in integrated and secure telecommunications wanted to set up an employment programme for

people over 45. Naturally, Quant ICT consulted SD Worx, its faithful

partner ever since 1999. A comprehensive HR audit aimed at securing the future and the Future of

Work was immediately launched.

“Whether for the practical or the strategic and

legal side of things, we can always rely on the HR

expertise of SD Worx. Our contacts know the ins

and outs of our organisation, which allows them

to perfectly anticipate our needs. By providing the

right tools, for example. Such tools are also far

ahead of their time in terms of ease of use.”

payroll tax & legal hr

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Quant ICT builds its future HR policy

“SD Worx meticulously scrutinised our

staffing policy on the basis of questi-

onnaires and interviews. Our people’s

work schedules are extremely flexible

and organised in shifts. And with an

average age of 35 years, we are also

a ‘young’ company. As revealed by

the audit, this creates specific HR

expectations. A good balance

between work and private life, better

internal communication, individual

opportunities for training and parental

leave: our employees know what they

want. Based on the audit, SD Worx

will now help us devise new policies,

update our work rules and employ-

ment contracts, and so on.

Tailored advice and support

SD Worx supports the HR policy of

Quant ICT in all its aspects. By

following ‘People Management’

courses, our employees have already

had the opportunity to develop into

excellent team leaders, for example.

For the practical side of things also,

SD Worx was ready to give us the

necessary knowledge and expertise.

This allowed us to update our

administrative documents in compliance

with the latest legal developments.

After all, SD Worx monitors all legal

changes closely and we are more than

happy to make use of that service.

Innovative tools

Available anytime and anywhere, fast

and easy: our employees set high

standards for any system that would

handle HR. SD Worx was able to

grant those wishes. For instance,

everyone agrees on the user

friendliness of ‘My Work and Me’ in

managing payslips and leave

requests. The next step promises to

be similarly worthwhile: we are further

improving the efficiency of our HR

policy by supplementing it with an

integrated application for the reimbur-

sement of expenses.

Continuous assessment

Our contact persons at SD Worx

know our organisation through and

through. They also have regular

personal contacts with our em-

ployees. This enables them to

perfectly understand our needs with a

minimum of explanation, or to suggest

the right tools. A very reassuring way

of working and the perfect basis for a

modern HR policy that works.”

Quant ICT


Employees: 30

Turnover: 8.5 million euro


Payroll Services

HR audit

HR & Legal Consultancy

HR Self Service

Performance Dashboard

Training

Pierre-André GuillaumeCEO of Quant ICT

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

23

CHU Dinant Godinne zooms in on staff engagement

“SD Worx managed to design an

engagement survey fully tailored to

our needs. As an academic institution,

we set very high standards when it

comes to methodology for example.

As a medical player, however, we

deal with a complex staffing situation

that you will not find in any other

sector. In our view, the fact that the

SD Worx database allowed us to

benchmark our results was also a

unique asset on the market.

A complex HR landscape

Gauging the satisfaction of more than

2,700 employees is not an easy task,

regardless of our sector’s idiosyncra-

sies. Under normal circumstances, we

have as many as 160 different types

of schedules. Thousands of physi-

cians and nurses work day and night

in shift systems with flexible hours.

About half of them work part time.

And a sixth of our people ensure a

permanence in holiday periods.

On top of that, 110 new medical

residents are temporarily placed in

our services every 6 months, while

we train 1,000 interns annually. And

our permanent staff must be able to

constantly retrain as well. To sum up

the situation: hard to beat such a

level of complexity.

A clear view on the matter

SD Worx got as many as 70% of our

employees to take part in the survey

by explaining in detail the how and

why of the research. The detailed

analysis immediately revealed the

specificity of our sector. For instance,

the involvement of our employees

ranks higher than satisfaction with

their job. Implausible, certainly, yet

perfectly understandable considering

the close bonds our employees often

forge with patients.

The survey also showed salary,

internal communication and growth

opportunities to be the main points of

concern.

Every single result was substantiated,

giving us the necessary basis to draw

up specific action plans and send a

breath of fresh air blowing through

management.”

CHU of Dinant-Godinne


Employees: +/- 2,700

Interns: > 1,000

Turnover: 250 million euro


Engagement Survey

Following an extensive merger, the teaching hospital “Centre Hospitalier Universitaire (CHU) Dinant Godinne”

was about to embark on a major strategic process. In order to do so,

the university hospital needed a set of HR values in which all employees

would feel included. A new management approach was also

necessary. All this had to rest on a solid foundation, however. SD Worx

therefore conducted an engagement survey directed at all the employees.

“Thanks to the rich database that SD Worx has

built up over the years, we were able to

benchmark our results against other large

companies in Belgium. We considered such

expertise to be a unique advantage.”

hr

24

CHU Dinant Godinne zooms in on staff engagement

Didier CloquetHuman Resources Director at CHU Dinant Godinne

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

25

”

A single point of contact, one solution, four countries

“Even though we share the same

activities, Belgium, Netherlands,

Luxembourg and France were

operating as separate entities. We

wanted to bring HR systems into one

single platform; get rid of all kinds of

systems, and be done with the

different forms of reporting. We were

looking for a party that could manage

that effectively at European level. Such

integration would offer many advanta-

ges, but simultaneously create a series

of challenges.

Copy-paste: not an option

International HR is a complex tangle,

with major differences in tax and

contributions systems for instance.

Even wage calculations differ. Payroll

providers only exist in Belgium. Just

copying an excellent solution to apply

it in another country was not an

option, since there is no such thing as

“one single system on the market”.

One point of contact

But SD Worx definitely has the

expertise and the partners to offer the

right solution – for us – at European

level. In addition, they act as a single

point of contact. For us, that is a huge

asset. We see our regular contact on a

regular basis and get quick answers

when needed. Changes are made

swiftly and new software implemented

smoothly.

Unnecessary bells and whistles

In Belgium, SD Worx was already

taking care of our payroll... to our

satisfaction. We naturally extended

that service to the other three

countries where we operate. We then

looked for a centralised solution for

time and attendance and issues such

as digital documenting, employee

self-service and management

self-service. Obviously, we requested

and compared quotes from multiple

providers. And we were presented

with other solutions, some perhaps

even with more functionalities than

what we got from SD Worx, but at

exorbitant prices. Only major corpora-

tions with at least ten or twenty

thousand employees can justify such

costs. In its proposal, SD Worx took

our needs and company size into

account. That is why the SD Worx

offer was the best choice.

It’s all about the basics

In the beginning, we under-used the

capabilities of reporting at European

level. There were still teething pains

when we really needed that function,

but SD Worx quickly incorporated our

comments into a solution. In addition,

time and attendance is also a very

user-friendly tool. Work schedules and

hours worked are automatically and

accurately entered into the payroll. This

is crucial, since it is not enough to

have plenty of fancy HR tools: if you

do not pay employees correctly and

on time, all your technology and efforts

are pointless.”

EFR bv


Active in: Belgium, the Netherlands,

Luxembourg and France


Filling stations: 1,250


Managed Payroll Services in 4

countries

Cross-border reporting via Cubes

Time & Attendance via Protime

The general public knows the retail organisation EFR – formerly Delek

– especially through its brands Texaco and BP. Its wide network of

filling stations and shops ensure that customers don’t run out of fuel, food and non-food products while on the

go, in Belgium, the Netherlands, Luxembourg and France.

“When switching to a new system, we

expected everything to run correctly, smoothly

and without glitches. We also chose SD Worx

for that reason. It is true that they have

long-standing cooperations with their partners.

Their expertise creates trust and offers the

greatest guarantee of success.”

payroll

26

A single point of contact, one solution, four countries Paul Siemelink

Vice-president Human Resources & Office Facilities at EFR

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

27

”

Els NeyensTalent Manager at Cofely Services

28

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

Cofely Services will graduallyroll out flexible remuneration

Cofely Services is part of the French

energy giant GDF Suez. We employ

just under 2,000 people and are a

market leader in integrated facilities

solutions. As far as payroll is

concerned, we have worked well for

many years with SD Worx and we

knew they were the pioneer in the

area of flexible remuneration.

Towards a future-oriented

reward policy

Attracting and retaining a sufficient

number of technicians and engineers

is a major challenge. We are very

much involved in the development of

our employees, but it goes without

saying that having an attractive

remuneration package is also a key

factor.

For us, moving away from the

one-size-fits-all principle to meet the

individual needs of our employees

was a logical step in the development

of a future-oriented reward policy. In

the autumn of 2013, we sat at the

table with SD Worx for the first time

in order to discuss the possibilities

offered by FIP.

A demanding yet flawless

trajectory

We had to follow a demanding yet

flawless trajectory in order to

implement FIP. The process started

with a detailed inventory of all our

existing benefits. SD Worx then

determined which of those benefits

could be included in a FIP. Based on

a comprehensive checklist, we later

composed the first package of

benefits. It really contains something

for everyone: from bicycles to

multimedia and pension savings, and

even a donation to a charity. We will

soon examine the package to

determine how we should adjust it

and which benefit combinations are

the most popular.

The roll-out of FIP was accompanied

by information sessions in all our

regional branches, from Ghent to

Liege. SD Worx was always at hand

to provide further clarification on the

calculation method of specific

benefits and to answer any other

technical questions.

First in the sector

Employees were quite surprised by

the wide range of benefits and their

corresponding monetary value. The

fact that we were able to set this

awareness process in motion is a

good thing. However, we also want

to make the most of this innovative

remuneration system to get them

thinking about smarter ways to

address their mobility.

Eventually, all of our 2,000 employees

must have access to FIP. The fact that

we were the first in our industry to

implement this innovative reward

concept is a bonus. FIP does require

some explanation during recruitment

interviews, but the concept is invariably

greeted with enthusiasm.”

Cofely Services




Payroll Services

Flex Income Plan

SAP

Training

Last spring, 150 executives from Cofely Services got acquainted for

the first time with FIP, short for Flex Income PlanTM. They put their remuneration package together in

the FIP online shop. Ultimately, the aim is to swing open the doors

to the virtual store to allow access to all employees.

“Attracting and retaining a sufficient number of

technicians and engineers is a major

challenge. And it goes without saying that

having an attractive pay package is also a key

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

fits-all principle to introduce the innovative FIP

in the organisation was a logical step in the

development of a future-oriented pay policy.”

payroll hr

29

To support our sustainability ambitions,

SD Worx is a member of:

• Business & Society, the reference network for

companies which, in collaboration with various

stakeholders, strive to develop a sustainable society.

• KAURI, a consultation platform for non-governmental

organisations that are endeavouring to achieve a

sustainable global economy, and for enterprises.

• Global Compact Network, an initiative of the

United Nations designed to connect companies,

trade unions, academics and civil society. The Global

Compact is a call to companies around the world to

align their strategies and operations with ten UN

principles in the areas of human rights, labour,

environment and anti-corruption.

This membership also requires that SD Worx draw up

an annual progress report on corporate social

responsibility. To read more about the corporate social

responsibility of SD Worx, please go to

www.sdworx.com/CSR

The three pillars of corporate social responsibility (CSR) – People, Planet

and Profit – are given priority at SD Worx.

The emphasis is on 'People', the pillar that is closest to our core business.

However, our activities also focus on Planet and Profit.

Sustainability ambitions

csr

30

Corporate Governance

Corporate governance is an inextricable part of the ‘core’ of our

mission. As an organisation, we adhere to the principles prescribed by good

corporate governance. In doing so, we abide by the guidelines on the

constitution and structure of the administrative bodies, the boardroom

style and in mutual interaction.

In addition, we fully endorse a number of principles that are typical of SD Worx and the way we operate, at every level.

In practical terms, these include an open mindset, dialogue, and a critical

but positive attitude. These go hand in hand with constant attention to

ethically responsible entrepreneurship and constructive collaboration.

General Assembly

Authorities

The General Assembly’s main tasks are as follows:

• changing the articles of association;

• appointing and dismissing directors and members of

the supervisory board and discharging from services

rendered;

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

• and profit appropriation (limited company).

Board of Directors

Task

The Board of Directors has a strategic and control function

and ensures that the company operates with maximum

efficiency. The Board of Directors outlines the mission,

strategy and general policies. Decisions concerning orga-

nisation structure, reorganisation, cooperation agreements,

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

Finances

The Board of Directors oversees finances and investments,

checks the integrity of financial reporting and monitors

internal auditing. The budgets, spending patterns and

execution of actual projects in line with strategic objectives

are also monitored by the Board, as are the performance,

remuneration and evaluation of members of the Executive

Committee.

Communication

Each year the Board of Directors compiles a detailed

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

possible risks and future perspectives. It highlights actual

examples of corporate governance, provides an overview

of the financial position and reflects the activities of the

Board of Directors and the organisation.

Structure of the Board of Directors

The Board is small enough to promote an efficient decision

making process and large enough to embrace the neces-

sary experience and knowledge from the various disciplines

relevant to the company amongst its members and to

safeguard continuity in the event of changes in its structure.

SD Worx consequently aims to appoint minimum eight and

maximum twelve directors.

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

required diversity and complementarity. The Board consists

of independent directors, with the exception of the

Managing Director.

More information on:www.sdworx.com/corporategovernance

corporate

32

Corporate Governance

33

Directors on 1/1/2015from left to right: • Luc Luyten, • Patrick De Vos, • Filip Dierckx (President), • Frederik Van Bladel, • Steven Van Hoorebeke (Managing Director), • Riet Docx, • Dirk Collier, • Marc Binnenmans

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

� Sige Marien Director Consulting

Hector � Vermeersch Chief Financial Officer

Eric Janssens � Director SME

Anne-Marie Cootjans � Corporate Services Officer

Tom Wouters � Chief Information Officer

Steven � Van Hoorebeke Managing Director

34

ExecutiveCommittee

corporate

In the first half of 2014, the Executive Committee teamed up with about 50 colleagues from different divisions to assess whether the course we were

all following was still the right one. And we have not radically changed

our course. We remain a top player in payroll services with a wide range of

HR services and solid international ambitions. We have, however, defined major focus areas. The customer is at

the centre of everything we do – in our processes, products, solutions,

approaches and communication.

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

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

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

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

communication platform or intermediary between the auditor and the Board of

Directors.

The audit committee draws up a long-term programme and is given access to

information sources which fall under its specific authority.

Strategic committeeThe SD Worx strategic committee supports the Board of Directors in its strategic

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

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

in.

Remuneration and appointment committeeThe SD Worx remuneration and appointment committee formulates proposals

concerning the appointment, remuneration and evaluation of the directors,

managing director and executive management, and monitors the market

conformity of remuneration. It also deals with all direct questions concerning

remuneration and appointments, and sets out the overall remuneration policy.

� Hilde Haems Chief HR Officer

� Thierry Vanbever Director International

� Harold Rijckaert Director Large Enterprises

Steven � Van Hoorebeke Managing Director

Composition:

Frederik Van Bladel - chairman

Filip Dierckx

Patrick De Vos

Riet Docx

The Board of Directors is assisted by three committees: the audit committee, the remuneration and appointment

committee and the strategic committee. They assist the board with specific advice to enable it to make well-

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

Composition:

Filip Dierckx - chairman

Luc Luyten

Dirk Collier

Composition:

Luc Luyten - chairman

Filip Dierckx

Committees

Not in the photo: Koen Goyvaerts Chief Sales &

Marketing Officer

35

37

SD Worx is celebrating its 70th anniversarythis year. We could write a whole book about it, but since a picture is worth a thousand words, we summarised our story into a film. It is also an opportunity for us to look ahead and share with you our plans and ambitions. We invite you to discover it on www.sdworx.com/70years."

”

Assets

� Intangible fixed assets &

consolidation differences

� Tangible fixed assets

� Financial fixed assets

Fixed assets

� Receivables on +1 year

� Receivables on -1 year

� Investments

� Liquid assets

� Accrued and deferred

accounts

Current assets

Total assets

Liabilities

� Equity capital (excl. result)

� Minority interest

� Results for the year

Total equity capital

� Provision for risks &

liabilities

Total of provision

� Debts over +1 year

� Customer funds

� Trade debts

� Debts concerning tax &

remunerations

� Other debts

� Accrued and deferred

accounts

Total debts

Total liabilities

Result

� Total turnover

� Financial profits from

operations

� Financial profits from

assets

Profits

� Personnel & fees

� ICT costs

� Office & administration

costs

� Promotion costs

� Depreciations

� Miscellaneous costs

� Taxes

� Minority interest

Costs

Profit

Consolidated profit-and-loss account of the

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

Accepted Accounting Principles.

Consolidated balance sheet of the SD Worx group

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

Principles.

2014 2013

7,492 11,151

74,000 81,044

1,075 1,021

82,567 93,216

5,335 2,414

34,887 32,722

1,229,294 1,175,306

565,489 499,086

16,431 14,052

1,851,436 1,723,580

1,934,002 1,816,795

2014 2013

330,332 328,277

2,675 2,201

27,234 2,054

360,242 332,533

3,486 3,703

3,486 3,703

146 234

1,509,479 1,425,730

13,481 10,208

42,072 35,693

856 4,951

4,241 3,744

1,570,275 1,480,560

1,934,002 1,816,795

2014 2013

261,975 255,920

16,191 14,111

10,544 3,725

288,710 273,756

202,911 213,462

12,680 13,982

17,293 17,170

5,537 5,208

13,866 13,310

1,829 3,436

5,742 3,944

1,618 1,190

261,476 271,702

27,234 2,054

Annual figures 2014

The consolidated financial statements of the SD Worx

group contain a concise summary of the annual

financial statements of the different entities of the

group. These financial statements give a true picture

of the assets, financial position and results of the

SD Worx group. The statutory auditors have given

their unqualified approval to the different annual

financial statements.

Composition of the SD Worx group on 31.12.2014

SD Worx vzw

SD Worx for Society vso cvba

SD Diensten nv

ZENO nv

IVD nv

LWB nv

Sodeco nv

SAK nv

Protime nv

Hazel Heartwood cvba

SD Worx sa (Luxembourg)

SD Worx Nederland bv

SD Worx sas (France)

SD Worx GmbH (Germany)

corporate

R.P. Steven Van Hoorebeke. Printed on eco-friendly FSC paper.38

Composition of the SD Worx group on 31.12.2014

sd worx - annual report 2014

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