Universal Registration Document - Fiscal 2024

Introduction

2.2.1 Improving the quality of life of our employees, safely

Workforce by Zone and activity
   NUMBER OF PEOPLE  BREAKDOWN 
  FISCAL 2024  CHANGE CHANGE % FISCAL 2024 FISCAL 2023
North America ☑ 127,951 +687 +0.5% 30.2% 29.6%
Europe ☑ 112,071 -3,849 -3.3% 26.5% 27.0%
Asia-Pacific, Latin America, Middle East and Africa ☑ 179,625 +2,748 +1.6% 42.4% 41.1%
Group Headquarter and shared structures ☑ 3,820 -6,060 -61.3% 0.9% 2.3%
TOTAL GROUP ☑ 423,467 -6,474 -1.5% 100% 100%
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Note: workforce at the end of the period. In order to have two comparable financial years, the 2023 workforce has been restated from Pluxee. 

In Fiscal 2024, the number of employees has decreased by -1.5% to 423,467 at the end of the year, compared to a +7.9% organic growth for the period.

This workforce reduction is due to the sale of the Homecare services in October 2023, impacting mainly Europe.

Thanks to organizational streamlining, the increase in employees in other activities was limited, consistent with its targets for synergies and cost controls on overheads.

The workforce with shared activities directly related to operations is now allocated to the regions.

The change in workforce in the various zones can be explained as follows:

  • in North America, the workforce rose by +0.5%, related to strong business activity in the Corporate Services and Healthcare & Seniors segments and the acquisitions made by its convenience activities. This increase was partially offset by a reduced headcount connected with the sale of the Homecare services;
  • in Europe, the workforce decreased by -3.3% following the sale of the Homecare services (a reduction of -7,790 employees), which offset the rising headcount in the other activities, notably Sodexo Live!, which saw steady growth as a result of the Olympic and Paralympic Games;
  • in Asia-Pacific, Latin America and the Middle East,
    • the +1.6% increase in workforce is primarily attributable to the strong activity in India, notably in Corporate Services,
    • offset in part by a decrease of workforce in Brazil in the Healthcare & Seniors segment connected with the exit from contracts, and in China due to the economic slowdown, which has led to the closing and restructuring of certain sites.
Talent retention
  FISCAL 2024 FISCAL 2023
Retention rate for total workforce ☑ 81.5% 80.4%
Retention rate for site managers ☑ 86.9% 85.4%
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The retention rate is calculated on the basis of employees who have been with the Group for at least three months. 

The employee retention rate showed significant improvement over the previous Fiscal year for all frontline employees as well as for on-site management.

This is the result of multiple initiatives to improve employee retention.

In 2022, the Group launched a global campaign centered on its employer brand, with three main pillars: Belong to a team, Act with purpose, Thrive in your own way.

The campaign, which continues to reaffirm the Group’s values among current and future employees as well as the benefits of working for Sodexo, is having a very positive impact on employee retention, thanks to the deployment of several initiatives:

  • Vita by Sodexo is a benefits program that establishes minimum standards for benefits applicable to all Group employees worldwide. With this program, Sodexo aims to contribute to the personal, financial and family well-being of all its employees around the world, notably by providing access to appropriate maternity leave regardless of the country in which they work;
  • Sodexo Academy, established in 2022, provides support to all employees in their career development through special training and career pathways in every region. The empathetic and collaborative leadership training program, initially launched in France in 2021, has expanded globally, with over 1,600 Global Senior Leaders and 2,000 French participants benefiting from group coaching sessions. Skills acquisition and refresher training programs have been deployed for front line employees and on-site management, particularly in the areas of health, safety, innovation and sustainable practices;
  • the implementation of the Winback policy in India, which allows employees to return to the provinces for harvest season and resume their position once harvesting is complete;
  • employee retention has also been included into the objectives in the Group compensation policy.

Note: The social advantages of Vita by Sodexo include parental leave, a life insurance benefit, paid care leave and personal assistance, including in the form of psychological support (free of charge, anonymous and available 24/7).

☑ Indicators verified to the level of “reasonable” assurance.