Interested to see more CSR reports, click here for a free login to the CSR Register.

Synechron

Formal name
Synechron Business Consulting B.V.
CoC Number
27257333
Subscription
TIM M
Sector
M70 - Activities of head offices; management consultancy activities
Verification
Moderate assurance
Publication date
Mar 5, 2020

Organization

About Synechron

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.

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.

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

CSR Statement

  • Download CSR Statement File 20190103 Declaration on the principles of CSR.pdf is available in online report.

Company Details

Scope for this report
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.
Total FTE in scope
96
Annual Turnover
€ 13,929,895
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.

Company Contact

 
N.Bok
 
nina.bok@synechron.com
 
+31206971959
Company Website
http://www.synechron.com/

Visitor Address

 
15-17
 
1101BH AMSTERDAM
 
Noord-Holland
 
Netherlands

Business Analysis

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

CSR Program

Management Approach

Core Subject Human Rights

Work for Vulnerable Groups (Social Return)

Ambition

We strive to create employability for a diverse 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 for improvement
No

Core Subject 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 for improvement
Yes

Core Subject 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 for improvement
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 for improvement
No

Core Subject 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 for improvement
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.

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 - Security policies

Security policy as part of our onboarding process.

Code of conduct

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

  • Download Code of Conduct File Synechron Business Consulting - Corporate compliance policy.pdf is available in online report.

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, security policies, technology and mobility.

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).

Activities in 2018:
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.

Employee engagement & GPTW

Synechron organized level sessions based on the results of the GPTW 2018 and 2019 survey. The management team set up an improvement plan based on the feedback they received from our employees. Three squads were formed: Communication, Recruitment and Retention and Appraisal Process squads. Now a recruiter is hired, the leadership team compostion is changed, a vitality training is organized and the Ranking the Stars (RtS) has a more efficient set-up.

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 & Training

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, we launched a Training Curriculum, called the House of Development (HoD) for our consultants. The HoD focuses on the personal and professional development of our consultants, the trends within the market and the requirements of our clients. Examples of trainings are: Presentation Skills, Commercial Skills and Self-Knowledge and Authenticity. All employees have 10 mandatory training days per year. Within the HoD a management development program is also developed called Professional Leadership. This program supports recruitment and retention objectives.

Synechron Business Consulting B.V. experiences that this training program is well received by our employees. We can state that the training program leads to motivated and highly qualified staff. One of the propositions of the Great Place to Work survey is: "I am offered training and/or development opportunities in order to grow professionally" and this is answered (rated) with 95%, which indicates that our employees truely agree with this proposition. 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.

Every employee needs to make a yearplan, in which is stated how this employee would like to develop themselves and which trainings would help him/her develop on that competency. Also, each quarter a RtS session is planned, whereby the development of each employee is discussed. The employee hands in a ADR (in which the development and project of the quarter is stated). The input of the ADR is put into the Appraisal Dashboard and then the development of the competencies is shown (f.e.: behind, on track, above level). By doing so, we make sure to focus on the development of our employees, which will have a positive impact on the business.

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 made 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, Synechron 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. A few times per year 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.

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
Mar 31, 2020

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, 2020

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
Mar 31, 2020

Certificates and Awards

Certificates

ISO 9001

Synechron Business Consulting meets the requirements of the standard: ISO 9001:2015. Advisory and management of complex business transformation within financial institutions

Valid until
Dec 22, 2022

Third-party Assessments

RI&E

RI&E, Risico-inventarisatie en evaluatie Synechron, Uitgevoerd door ENRGY. Het RI&E onderzoek heeft in januari 2019 opnieuw plaatsgevonden.

Awards

Great place to work (AMS)

Synechron has been chosen as one of the Best Workplaces of the Netherlands in 2016, 2017, 2019 and 2020 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 the website of Great Place to Work for our webpage: https://www.greatplacetowork.nl/workplace/item/2140/Synechron

Received on
Jan 1, 2020