Annual results FY18
Deloitte Belgium hits the mark of 1,000 new recruits
Market-leader Deloitte Belgium continues to expand, increasing its workforce for the third consecutive year and achieves 6% revenue growth
Brussels, Belgium – 18 September, 2018
- The professional services firm today published its annual results, a revenue growth of 6% in the Belgian market.
- Deloitte Belgium is one of the fastest growing employers in the country in terms of recruiting highly-skilled workers: with 1,026 new recruits, Deloitte Belgium exceeded its target. The organisation plans to hire another 1,000 people in the coming financial year.
- CEO Piet Vandendriessche attributes the growth to the global trends of increased connectivity, digitisation in business, and regulation. Deloitte Belgium offers a tailor-made response to these evolutions with its range of services.
- Deloitte Belgium wants to grow responsibly and continues to focus on the sustainability and gender diversity targets the organisation defined in 2018.
Growth in financial year a constant in all the individual activities of Deloitte Belgium
Deloitte, the professional services organisation, generated a turnover of €510 million in Belgium for the financial year ending on 31 May 2018. This 6% increase went beyond Deloitte Belgium’s target of 5% and bolsters the organisation’s position as the market leader in professional services. The services offered by Financial Advisory and Risk Advisory achieved double-digit growth, and Consulting performed well too. Within Risk Advisory, risk services in Technology, Cyber and the Financial Service Industry had the strongest increase. Within Financial Advisory, the Mergers & Acquisitions department as well as Real Estate boosted the business. In Consulting, the growth was mainly driven by digital transformation projects and organisational transformation to enhance the digital fluency of companies.
To support this growth, Deloitte Belgium hired 1,026 new people – exceeding last year’s hiring forecast of 900. Deloitte is set to continue on the growth path and plans to recruit another 1,000 professionals in the coming year to achieve a projected growth of 7.6%.
Worldwide, Deloitte generated a turnover of US$43.2 billion in the financial year 2018, marking an increase of 11%. Deloitte remains the largest player in professional services globally.
Digitisation has become a commodity
Deloitte Belgium points to its tailored offering that addresses changes caused by Industry 4.0 - the rise of network-based, data-driven, and autonomous technologies that blur the line between the physical and the digital world - to partially explain the past year’s growth.
Piet Vandendriessche, CEO Deloitte Belgium: “Smart and connected technologies are embedded within organisations as well as in people’s daily lives. Today, digitisation has become a commodity and increasingly drives the functioning of all businesses, regardless of industry or size. Moreover, they allow direct interaction with the end-customer, which pushes businesses to integrate a customer-centric approach in their strategies, in some cases even business models that involve no intermediary parties. The exponentially changing technologies require investments in integrating innovation and touch every aspect of the organisation. We help our clients to develop a holistic strategy, implement these technologies, and focus closely on our own innovation initiatives.”
The Booster Programme or FAST 50 are only two of the many initiatives Deloitte organises to incubate up-and-coming Industry 4.0 companies.
Furthermore, SMEs, fast-growing companies, family owned and run businesses, and private firms face challenges comparable to those of multinationals and public organisations. They are however better served by a customised approach from a trusted advisor who is thoroughly familiar with their business, structure and challenges and can respond accordingly. Deloitte Private guarantees proximity to and a personal approach for such companies.
Preparing talent for a digitised work environment
To support continued growth, Deloitte hired more than 1,026 people in FY18. On 31 May, at the close of that financial year, Deloitte Belgium counted 3,825 employees. The number currently stands at 4,075, which will increase to 4,161 employees in the coming month. Working towards gender balance, 56% percent of the employees are men and 44% women.
Given the newness of the technologies it consults on, Deloitte invests heavily in the training and knowledge development of its people.
Piet Vandendriessche: “Deloitte has made the continued training of our 4,075 employees a priority. This means over 58 hours of training per employee over the course of the last financial year. Deloitte has a young population: the average age is 32. This environment of learning and entrepreneurship will not only allow us to bring the best value to clients but also ready the next generation of talent to meet the challenges of Industry 4.0. This investment in talent adds value to the economy and society, as people take their acquired competencies to new employers.”
Underlining that the focus increasingly shifts towards ‘soft skills’ (personal contact, creativity, emotional intelligence) in a digitised work environment, Vandendriessche added, “We are and remain a people business. Despite the increasing automation of working methods, the human interpretation of data remains paramount in our professions.”
Deloitte also works on the career paths of its employees: approximately 834 Deloitte Belgium employees moved on to new careers last year. Nine new partners were appointed, three of whom are women: Frederic Boedt (Accountancy), Inge Diels (DSI), Karolien Martens (Tax & Legal), Anne Massij (Consulting), Seppe Onsea (Financial Advisory), Bert Truyman (Risk Advisory), Philippe Van Krunkelsven (Tax & Legal), Jan Vanhaecht (Risk Advisory), Franky Wevers (Audit/Financial Advisory).
The law firm Laga that Deloitte Belgium has a collaboration agreement with also appointed a new partner, Marc Van Tieghem.
30% female partners by 2030
With the target of 30% female partners by 2030, Deloitte Belgium has a strong commitment to diversity leadership.
Piet Vandendriessche: “We believe that diversity in any group matters as much as ability and brainpower. It improves decision-making, helps attract top talent, increases employee satisfaction, and makes the firm more customer oriented. Increasing the number of female partners is high on my agenda, and I am absolutely determined and committed to make it happen. With the support of all the partners, we will get there.”
Reduced car mileage to contribute to 25% fewer emissions
Deloitte has launched a new mobility plan to get its 4,075 employees to reduce the mileage they drive by 10 percent. This will contribute to the target of 25% less CO2 emissions by 2021.
“We do not want to wait until the policy framework and the infrastructure are adapted to today’s traffic reality in Belgium,” said Vandendriessche. “As strategic professionals, we are close to the changes that shape our world today. I also believe that we, as an organisation, have to set an example - hence, for instance, our efforts on mobility. We are therefore encouraging our employees with this plan to evaluate which ‘mobility mix’ is most suitable for their personal needs.”
Deloitte Belgium highlights that driving less will also contribute to reducing traffic jams. Deloitte’s Global City Mobility Index has shown that a Belgian loses more than a workweek per year on average in traffic jams. Traffic misery leads to an estimated economic loss of €4 to €8 billion.
“By offering a multimodal mobility solution, we want to raise awareness among our employees so that they can make informed choices,” added Vandendriessche.