The average number of full-time internal employees during the year increased from 11,905 in 2004 to 12,779 in 2005 as a result of acquisitions and to maximise opportunities as existing markets improved, most notably in Southern Europe, Asia and Latin America. As a service company, the calibre of personnel is integral to the success of our business. The adoption of the motif, ‘Where People Matter’ as part of our corporate logo is not solely an external message; it underlines our commitment to our own staff and emphasises the important role they play in Vedior’s development. Vedior is committed to invest in its employees and become the employer of choice in our industry. We take great care in recruiting and retaining skilled recruitment consultants who not only have expertise in general employment and staffing issues, but also have particular knowledge of the niche sector in which they operate. In order to maintain its market position, it is important that Vedior provides its staff with stimulating career opportunities as well as an enjoyable and productive working environment. It is our policy to promote from within our organisation wherever possible. In September 2005, a global Employee Survey was conducted for the benefit of all Vedior’s operating companies and personnel worldwide. Questions were made available online via the Group’s intranet and responses were anonymous to encourage candid answers. The survey was in four parts; my role, my Company, Vedior and profile of respondent, and was made available in 10 different languages. At the conclusion of the Survey, each operating company manager within the Group received detailed and individual company results compared to both regional and Group averages enabling them to benchmark their performance. Managers were encouraged to share results with their employees and act upon any areas of concern. The survey also highlighted areas for improvement which will be followed up by the Board of Management in 2006. We believe that these Survey results are well above average for a comparable international company of Vedior’s scale with most questions receiving a positive response of between 70% to 80%. High scores were achieved for our management team, job satisfaction and pride both in working for their local operating company and in being part of the Vedior Group. To acknowledge those companies that received the best scores within the Employee Survey, we launched new Employee Satisfaction Awards. These awards were given to the top performing companies within each of Vedior’s reporting Zones; one for companies with less than 100 employees and another for those with more than 100 employees. For 2005, the winners of the award for companies with less than 100 employees were Rowlands Temporaire (Luxembourg), Select Education (Australia), Global Managed Services (US), Becker Executive (US), Select Interservices (Greece) and Advancers Executive (France). The winners of the award for companies with more than 100 employees were Accountants Inc. (US), Placement Pros (US), Hill McGlynn (UK), Select Recursos Humanos (Portugal), Sparq (Netherlands) and Expectra (France). The Employee Survey and Employee Satisfaction Awards will be repeated every 18 months. The organisation of Vedior’s operations provides our employees with a stimulating entrepreneurial working environment. Vedior has a decentralised management structure designed to enhance communication and minimise corporate overhead. Local management teams retain a high degree of autonomy in the day-to-day running of their businesses including hiring, pricing, training, sales and marketing. Such a structure enables them to respond quickly to market trends in a fast moving industry. The role of senior corporate management is to provide appropriate advice and support, enabling operational management to accelerate the development of their businesses, and act as a clearing house for new strategies and products. Financial discipline is reinforced through centrally established management controls that provide close monitoring of ongoing activities. These detailed checks and balances enable the Board of Management to monitor and control Vedior’s diverse global operations. Within our relatively autonomous management structure, co-operation and information sharing is proactively encouraged. In October 2005, Vedior held an international management conference for all its senior managerial personnel. This conference, which is scheduled every 18 months, is a very important part of our corporate calendar. It provides the opportunity to discuss trends, explore business opportunities and encourage mutual co-operation. The event provides a forum for the development of new niche services, new products and more efficient operating practices. Vedior operates a small corporate office given the decentralised nature of the Group. The average number of full-time corporate employees in 2005 (including the members of the Board of Management) remains less than 50. The majority of corporate staff are based at the Group’s headquarters in Amsterdam but, given the nature of the Group’s global network, some corporate personnel also operate out of offices in St Albans in the UK, Zurich in Switzerland, Adelaide in Australia and Paris in France. In January 2005, Vedior’s European Director of Public Affairs, Annemarie Muntz, was elected president of EURO-CIETT, the European trade association for the recruitment industry. EURO-CIETT works with EU and Member State authorities towards developing the necessary policy framework to eliminate barriers for the staffing industry within individual countries and also to encourage the free movement of labour within Europe. In May 2005, Institutional Investor Magazine surveyed investors and fund managers and recognised Frits Vervoort as the best CFO in the Business & Employment Services sector in Europe. Vedior is also keen to play its part in improving the professional status of recruitment and is pleased to support initiatives such as that announced in September 2005 between the REC (the trade association for the UK staffing industry) and Middlesex University Business School to provide a professional degree in recruitment. |