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Synechron

Formal name
Synechron Business Consulting B.V.
CoC Number
27257333
Subscription
Basic CSR Report
Sector
M70 - Activities of head offices; management consultancy activities
Verification type
Moderate assurance by FIRA
Publication date
Jan 23, 2019

Organization

Mission & Values

Vision

Being the preferred partner of choice for Dutch Financial Services. We are inspired to solve problems for, innovate and improve Financial Services in a sustainable way.

Mission

We deliver strategic solutions for our customers by combining innovative ideas and sustainable business solutions with in-depth knowledge of the market and an enterprise-scale delivery capability.

Description of Company Activities

Synechron is a leading Digital Consulting firm with an ongoing commitment to Accelerate Digital initiatives for financial services. We deliver strategic solutions for our customers by combining innovative ideas and sustainable business solutions with in-depth knowledge of the market and an enterprise-scale delivery capability.

Core Values

Core values:
- Customer satisfaction
- Execution
- Excellence
- Agility
- Integrity

In 2018, Synechron, launched its new Employee 2020 initiative, a campaign focused on defining and communicating Synechron’s unique differentiators to market and growing its workforce with talent that fits these traits. The Employee 2020 initiative is based on employee feedback, which helped to focus on five ideas: ambition, innovation, empowerment, responsibility, and a limitless drive for excellence. The Employee 2020 initiative will help reinforce talented employees within the company through organizational programs, including recognition and reward program, career path and performance mentorship, leadership training and continuous learning initiatives, which looks to empower current and future employees to continually grow into new roles as their careers progress at the company.

View on CSR

As a consultancy organisation, we have sustainability objectives in our work roles. We deliver quality to our customers and strive to advise and help them in such a way that our advice contributes in the long term. By helping our customers, they gain more control over their organisation and are able to work more efficiently and purposefully, we contribute (indirectly) to a more transparent and effective financial sector that supports society.
It is important for Synechron to also contribute to society in a more direct manner. We have CSR policy in place that focuses on seven pillars:
• Volunteering, donations and fund raising
• Ethically responsible
• Education for under privileged
• Help for the specially-abled
• Environmental causes
• Women empowerment
• Health and welfare programmes
All our CSR initiatives are related to these pillars. Please watch our CSR video: https://www.youtube.com/watch?v=NEQbol0RC68

Declaration

Company Details

Company Ownership

Synechron Business Consulting B.V. is a subsidiary of Synechron Business Consulting Holding B.V.. The holding also contains the foreign office Synechron Business Consulting GmbH Germany. Synechron Business Consulting Holding B.V. is part of Synechron Holdings Inc. BVI.

Scope

Consultancy, training, facilitation and implementation of change management at (financial) services providers by Synechron Business Consulting B.V. (chamber of commerce 27257333) based in the Netherlands. Corporate (Synechron Inc.), holding firms, and activities of all other foreign branches and subsidiaries are not in scope.

Company Sites

Synechron Business Consulting B.V. is located in Amsterdam. Synechron operates in 18 countries across the world:

EU: UK, France, Switzerland, Luxembourg, Serbia, Hungary, Germany, and Italy.

Asia: India, Singapore, Hong Kong, Philippines, Japan, UAE

Oceania: Australia

North America: US and Canada

Total FTE in scope
87
Annual Turnover
13.929.895,00 Euro
Company Website
http://www.synechron.com/

Company Contact

Name contact
L. Freeke
Email contact
linsy.freeke@synechron.com
Phone number
+31 6 31791684

Visitor address HQ

Street
15-17
City
AMSTERDAM
Zip code
1101BH
Province/state
Noord-Holland
Country
Netherlands

CSR Impact Analysis

/help/en/pages/buyer/report/duediligence/main.html

Value Chain

Supply chain

  • External manpower
  • Promotion materials
  • Facilities
  • Mobility

Synechron

  • Consultancy
  • Training
  • Marketing and communication
  • Sales and account management
  • Supporting activities

Products/Services

  • Management consultancy for financial services
  • Training for financial services

Management Approach

/help/en/pages/buyer/report/managementapproach/main.html

Management Approach

Human Rights

Work for Vulnerable Groups (Social Return)

Ambition

We strive to create employability for a divers team with students, refugees, people from different cultural backgrounds and nationalities. Synechron believes it has an important role in helping increase the technical, leadership and entrepreneurial capacity of the next generation of IT and Businesswomen so they can be at the forefront of creativity, innovation and leadership.

Status CSR Program

We are satisfied with our initiatives and work for vulnerable groups.

Priority
No

Labour Practices

Employability & Human Development

Ambition

As a consultancy company, the quality of our employees is decisive for our success as our customers measure us by evaluating our people. Our office in Amsterdam functions as a 'Centre of Excellence' for Global Business Consulting within the global Synechron organisation. This means that our internal objective is to be a thought leader and to be a driver for the development of innovative solutions that we can offer in the market. Our mission is: 'Being the preferred partner of choice for the Dutch Financial Services Industry'. The aim of our development framework is to ensure that our people are facilitated to deliver our mission. Additionally we believe that we need to take care of our people to facilitate sustainable employability.

Objectives

80 training hours
All consultants need to complete their (mandatory) training programme of 80 hours per year (10 days).

Status CSR Program

Satisfied with human development programs. We reviewed our training curriculum in 2018 and we will improve this to make it future proof. See for further explanation Improvement plans.

Priority
Yes

Environment

Circular Economy

Ambition

Synechron tries wherever possible to give products a second life and we try to reuse, repair, recycle products or we organize initiatives to make our employees more aware to minimalise our environmental footprint (e.g. IT equipment as laptops and phones, coffee pads, office furniture, clothes).

Status CSR Program

Even though Circular Economy is not Synechron's first focus, we are aware of sustainable handling with products.

Priority
No

Energy Efficient Mobility

Ambition

One of the primary focus of areas for Synechron’s CSR is the environment. As a business, we have a responsibility to reduce our carbon footprint across all our offices. Any steps we can take to reduce our negative impact on the environment and support sustainability is good for the company and society.

Status CSR Program

Synechron Office makes use of green energy.

Priority
No

Fair Practices

Ethical Conduct

Ambition

Synechron is committed to doing the right thing, conducting ourselves in a legal, ethical, and trustworthy manner, upholding our regulatory obligations, and complying with both the letter and spirit of our business policies. We have a zero tolerance policy to ensure the prohibition of any and all forms of bribery, corruption, extortion, embezzlement and discrimination in any form.

Objectives

Ethical Conduct
All employees must have an annual valid Verklaring Omtrent Gedrag (VOG) and an annual valid Pre-Employment-Screening (PES-verklaring) to show clients that the employee is reliable and competent.

Status CSR Program

Satisfied with ethical conduct. No improvement plan required as we don't experience issues relating to this matter. Additionally, the nature of our business forces us to act ethically, if we don't, we will soon be out of business. Our employees conduct an extended onboarding process before they start working on a project at a client.

Priority
No

Consultancy: Promoting Social Responsibility

Ambition

As a consultancy organisation, we have sustainability objectives in our work roles. We deliver quality to our customers and strive to advise and help them in such a way that our advice contributes in the long term. By helping our customers, they gain more control over their organisation and are able to work more efficiently and purposefully, we contribute (indirectly) to a more transparent and effective financial sector that supports society.

Improvement Plans

Appraisal Process

Synechron developed an improvement plan for our appraisal process. Objective is to make the Ranking the Stars meeting more efficient and to simplify the appraisal process for consultants and their linemanagers.

Timeframe
Jan 31, 2019

Employee engagement & GPTW

Synechron organized level sessions based on the results of GPTW survey. The management team set up an improvement plan based on the feedback they received from our employees. A lot has already been picked up: revised organisational design and practice set-up, recruiter is hired, MT offsite with external facilitator, leadership team composition is changed, vitality training is organized, Ranking the Starts (RtS) more efficient set-up, three squads are formed (communication, recruitment and retention, appraisal process).

Timeframe
Feb 1, 2019

Management Development Program

Synechron wants to develop a management development program. This program will support recruitment & retention objectives. The program will be part of the new SyneLearn Training curriculum.

Timeframe
Dec 31, 2019

Management System

Set up of long term planning for quality management with strategy, objectives, activities and measures. This will contain a plan of approach and planning for internal and external audit processes.

Timeframe
May 1, 2019

Training & Development

We will launch a new Training Curriculum for our consultants, which suits better to the developments and trends of our consultants, the market and our clients. The new training curriculum 'SyneLearn, house of development' is related to our development appraisal process and competency matrix. In April will kick-off a Bootcamp week as new onboarding program for new joiners at Synechron.

Timeframe
Oct 1, 2019

Transformation of HR department

HR department quick scan is in execution by an external party BBKwadraat. https://www.bbkwadraat.nl/ This is an improvement plan with the objective to check whether the HR department set-up (functions, responsibilities, activities, policies, procedures, processes and systems etc.) are still appropriate to support our organisational growth and strategy. Output will be a transformation plan with recommendations.

Timeframe
Apr 30, 2019

Policies and Measures

/help/en/pages/buyer/report/measuresandpolicies/main.html

Policies

Arbobutler

Policy on working conditions, absenteeism and reintegration. Synechron cooperates with Arbobutler as our company doctor. In a number of cases, the company doctor refers an employee to Vitaalpunt for a multidisciplinary project to improve sustainable employability. https://www.vitaalpunt.nl/

Code of Conduct - Policies

Security policy as part of our onboarding process.
Chapter 1 of Handbook with policy about integrity screening -PES/VOG.
Chapter 11 of Handbook with policy about information security.

Code of conduct

Published as: "Synechron Business Consulting - Corporate compliance policy"

Cultural Audit - GPTW

The Cultural Audit describes our social policies & programs and it gives some insight in our culture. Themes are: recruitment & welcoming, inspiring, speaking, listening, showing gratitude, developing, caring, celebrating and sharing.

Global CSR Guidelines

It is important for Synechron to also contribute to society in a more direct manner. We have CSR policy in place that focuses on seven pillars:
• Volunteering, donations and fund raising
• Ethically responsible
• Education for under privileged
• Help for the specially-abled
• Environmental causes
• Women empowerment
• Health and welfare programmes
All our CSR initiatives are related to these pillars. Please watch our CSR video: https://www.youtube.com/watch?v=NEQbol0RC68

Mobility Policy

Consultants work throughout The Netherlands for different client accounts. Our mobility policy describes how Synechron facilitates its employees in their daily commute to work. Synechron Business Consulting stimulates employees to choose energy efficient mobility. To do this, Synechron Business Consulting has contracted Mobility Concept, giving employees a fixed travel budget, enabling them to choose whether they use a private car, rental cars, public transportation, or a bicycle.

Synechron Handbook

Synechron handbook is an overall overview of policies for Synechron Business Consulting. It covers a broad range of policies on several topics, like: terms of employment, part-time working, salary, insurances, office organization, code of conduct, performance appraisal process, employee training and development program, technology and mobility.

Training & Development

Chapter 10 of our Handbook describes the policy regarding training & development possibilities.

Measures

Circular Economy

Circular Economy is not Synechron's first focus, because it is not that evident for an office organization. However, where possible, we give products a second life and we try to reuse, repair, recycle products and minimalise our environmental footprint (e.g. IT equipment as laptops and phones, coffee pads, furniture, reduce paper).

Donation to Stichting Leergeld of EUR 2270 of our residual value of IT equipment.
Donation of left over presents to charity Jarige Jop.
Left over office furniture offered to employees at very reduced prices.

Code of Conduct

Synechron is a professional consultancy firm. Our employees are dedicated to bring professional standards into practice by delivering results to our clients. We utilize our knowledge and experience in the financial services industry for consulting activities. Our propositions, tools and techniques describe what we do.

Our clients make use of an integrity framework. All our employees are assessed and screened during the onboarding process before they can start working for one of our clients (PES/VOG).

-All employees must have an annual valid Verklaring Omtrent Gedrag (VOG) and an annual valid Pre-Employment-Screening (PES-verklaring) to show clients that the employee is reliable and competent.
-Synechron executes client satisfaction surveys during and after each project to investigate among others integrity of employees.
-OneDrive / Office 365 facilities for protected knowledge management.
-Information & Security awareness initiatives.

FinLab - Synechron Office

Our office functions as a hub for Synechron Amsterdam Consultants. With a stronger focus on introducing disruptive technologies in the banking industries to (new) clients the Amsterdam office has their own FinLab.

Client events organised in our FinLab. E.g. project at ING organizes a Client Servicing Team Day at Synechron FinLab.
Full day of fun team building, knowledge sharing and creating a vision for the future of Client Servicing.

Giving Back to Society CSR Initiatives Synechron

In 2018, Synechron Amsterdam has invested in many activities to give back to society in various ways. From personal initiatives from employees (fund raises, volunteering, marathons, Voorlees Express, Regenboog Groep) to collective initiatives (organizing a SyneDay with topic CSR, 2 new CSR partners JINC and Only Friends Sports Centre, sponsorship of Theatre Group Abhimanch, participation Week van het Geld, collecting clothes, it equipment, sponsoring of charities, goededoelen kerstkaart etc.).

The impact of CSR activities for Synechron is visible in the increased employee and customer loyalty. Employees enjoy assessing and taking responsibility for the company's effects on environmental and social wellbeing. Also, the advantages of CSR are not only visible internally, but also externally by giving back to the society. This feeling of giving back, brings satisfaction for employees.

Human development

Our clients expect our consultants to excell in their field of expertise. Also, Synechron Business Consulting believes that investing in people makes the company an attractive employer. Therefore, all employees are expected to attend training 10 days per year. For junior employees, the training program is fixed. The longer they work with Synechron, the more freedom they get to fill in the training requirements. Additionally, there are two training days per year with the whole company, and Synechron offers employees the opportunity to request additonal education in relation to their individual development plan, such as an MBA.

Synechron Business Consulting B.V. experiences that this training program leads to motivated and highly qualified staff. By offering this extensive training portfolio, we aim to ensure that our employees are always up to date in terms of knowledge and that our consultants can always advise our clients optimally and inform them about the possible impact of their decisions.

Mobility Concept - budgethouders

Synechron Business Consulting has changed its company car policy to a more flexible structure, in order to stimulate employees to choose energy efficient mobility. To do this, Synechron Business Consulting has contracted Mobility Concept, giving employees a fixed travel budget, enabling them to choose whether they use a private car, rental cars, public transportation, or a bicycle.

In 2016 47% of our staff used the Mobility Mixx budget (up from 31% in 2015 and 8% in 2014). In 2017, 33 employees use the Mobility Mixx budget. As a result, 33 employees do not need a company car.

In 2019, 27 employees make use of Mobility Concept.

Sustainable Employability

One of Synechron's strategic focus points is employee satisfaction. We aim for employee satisfaction >8. We develop programs to keep our employees healthy, involved and happy at work. Synechron supports a physically and mental healthy working environment.

-Synechron participates with Great Place To Work survey.
-Synechron attended the congress Week of Work Related Stress in The Hague organized by Ministry of Social Affairs and Employment.
-Management Team of Synechron has organised level sessions to receive feedback from employees and get insights in how to improve happiness at work.
-Synechron embed employee vitality (energy & balance) as a topic in our training curriculum to address the importance of this topic.
-Sports Committee organizes at least 1 event each quarter. Budget for 2018 was EUR 7650. We participated in Dam tot Damloop 2017/2018. Additionally, Synechron participates in summer football & hockey competitions.
-Synechron sponsored a hockey team of one of our colleagues.
-Synechron sponsored a cricket club Qui Vive.

Sustainable Finance

The financial sector plays a key role in facilitating capital flows, the EU is working on integrating sustainability considerations into financial policy frameworks (referred to as ‘sustainable finance’). In the context of the Paris agreement and the UN Sustainable Development Goals, it will not be long before financial service providers feel the impact of sustainable finance. Considering proposals of the European Commission and potential impact on several financial service providers. The key takeaways are:
- A considerable impact on the business processes of manufacturers of financial products (like investment funds, and providers of investment services, such as asset and wealth managers);
- Characteristics of the financial instruments included in portfolios also can be impacted significantly if the shift towards sustainable investing keeps up; and
- Corporate sustainability reporting is one of the areas that will further develop and mature.

Sustainable Finance focuses on implementing EU regulation and legislation at clients. While legislation has not yet been formalized, we focus on informing and creating awareness on Sustainable Finance at banks, asset managers and investors.

Synechron aims to be a frontrunner in informing financial parties about the proposed legislation, which will change capital flows from being 'grey' to 'green', and eventually should contribute significantly to the reduction of climate change (Paris agreement) and other UN Sustainable Developments Goals (SDGs).

As soon as the new legislation is being formally adopted, Synachron wants to play its part in implementing requirements at clients and to shape new, more sustainable business models.

Sustainable office

In 2017, we moved to a new office location. In the selection of the office, being located near public transport facilities was of importance as employees make use of Mobility Concept.

We have a sustainable wall of moss in our new FinLab, which is maintenance-friendly and a natural eye-catcher in our interior. Moss walls also provide a feeling of well-being. The same applies to all plants that we lease in our office. In addition our office has many windows that provide plenty of daylight.

Being located near public transport facilities makes us easy to reach in a sustainable way. Our building is certified for green energy use.

Work for Vulnerable Groups (Social Return)

In 2018 Synechron has created an internship for a status holder. Synechron created this opportunity to provide the status holder a work experience place.
SyneDay Nov 2017 theme was CSR. The whole organization was involved in activities for vulnerable groups such as elderly, ex homeless or addicts and children of the Salvation Army. Synechron organized this day in cooperation with Amsterdam Helpt.
-Synechron is a partner of Only Friends Sports Centre for disabled people. Every month employees are volunteering at Only Friends. See article on their website: https://onlyfriends.nl/2018/05/16/een-nieuwe-special-friend-voor-only-friends-synechron/

Internship of 24 hours a week from 3rd of September until 30th of November 2018.

Certificates and Awards

Certificates and Assessments

CIIO Maatstaf

Synechron's management system has been assessed according to the CIIO Standard 2016, based on the requirements of ISO 9001:2015, and was found compliant. For: Consultancy, training, project management and implementation of change processes in (financial) institutions by Synechron Business Consultancy B.V..

Valid until
Dec 22, 2019

RI&E

RI&E, Risico-inventarisatie en evaluatie Synechron, Uitgevoerd door ENRGY. Het RI&E onderzoek heeft in januari 2019 opnieuw plaatsgevonden. Synechron verwacht eind januari een nieuw rapport van ENRGY te ontvangen.

Awards

Great place to work (AMS)

Synechron has been chosen as one of the Best Workplaces of the Netherlands in 2016 and 2017, ranking in the top 10 of large and multinational enterprises. The list of Best Workplaces is compiled on the basis of empirical and independent research by Great Place to Work Netherlands. The ranking focuses mainly on the level of trust, pride and pleasure experienced by employees within an organization.

Please refer to our company website rewards & recognition: https://synechron.com/aboutus