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Best Managed Companies perform measurably better than other companies

The fifth edition of the Best Managed Companies programme awarded labels to 26 Belgian companies. On this occasion, Deloitte Private also examined the impact of this quality label on companies, compared with the industry in which they operate.

Brussels, 12 May 2022 – This year, the Best Managed Companies programme is celebrating its fifth anniversary. The programme recognises the success of privately owned companies that post a strong performance, translating a clear strategy, strong capabilities and employee engagement into excellent financial results. This year, 26 Belgian companies selected by an independent jury have been awarded the quality label. On the occasion of this fifth edition, Deloitte Private also conducted an impact study which showed that Best Managed Companies perform better than the market average.

Since 2017 Deloitte Private and Econopolis, joined by KU Leuven since 2019, have gone in search of Belgian companies that achieve excellent results. Throughout the entire process, the companies benefit from guidance from a Best Managed Companies coach from Deloitte Private. The coaches check the company’s strategy and operational and financial processes against the international Best Managed Companies framework.

Participating in the Best Managed Companies programme pays off

The programme has been coaching Belgian companies for over five years, helping them to set ambitious goals and deliver sustainable success.

We firmly believe in this programme. The performances of these companies speak for themselves, but we also wanted to have real proof that participating in this programme pays off. The impact study shows that Best Managed Companies perform better than average. Above all, their strong focus on sustainability and clear strategy help them deliver a performance that is better than the sectoral average.

Nikolaas Tahon, Chairman Deloitte Belgium and Best Managed Companies Programme Lead

Best Managed Companies also invest heavily in growth and human capital. In the past five years, the full-time workforce of the 26 Best Managed Companies has grown by 22%. Human capital investment has increased company turnover and enhanced profit. As a result, the majority of the Best Managed Companies is growing at a faster rate (in financial terms) than the market in which they operate. The Best Managed Companies also invest more in digitalisation: 75% of these companies have developed a digital strategy and are taking steps to implement this digital transformation. Moreover, these companies also excel because of the close ties they maintain with employees, customers and suppliers. They develop a true ecosystem around them as a driver for success.

We have observed that Best Managed Companies are closely linked to their ecosystem. They are also more inclined to invest in learning organisations. Just over half of these companies has an in-house academy that offers training to employees so they can grow as professionals.

Bruno Peelaers, Partner Deloitte Private and Best Managed Companies Programme Director

26 companies named Best Managed Company, 10 of which have received the Gold label

An independent jury assesses the participants’ management capacities against the four pillars of the Best Managed Companies framework. Françoise Chombar, Chair of Melexis,  is the president of the external jury. She’s being  assisted by members of academia and the business community: Geert Noels, CEO and Chief Economist Econopolis; Rik Jacob, former CEO of Ardo; Koenraad Debackere, Professor at KU Leuven; Yves Noël, Chairman of Nomainvest and honorary Chairman of NMC International; and Victoria Vandeputte, Chief Innovation Officer at Martin Braun.

This year, three companies were awarded the Best Managed Companies label for the first time. N-SIDE, Sprimoglass and Technord are all based in Wallonia. Another ten companies  received the Gold label in recognition of the fact that they retained the Best Managed Companies label for four consecutive years at least. They are CE+T Group, EASI, Easyfairs, E.D.&A., Golazo, LVD Group, Soudal, Thomas & Piron, Vanbreda Risk & Benefits and Vandersanden. 

All 26 laureates focus on the long term and are innovative and profitable, in addition to being human and sustainable. They have demonstrated that changing tack in times of crisis is possible and can even lead to success and a stronger market position. The biggest scope for growth for the companies is in the area of workplace diversity. While we can see that they are working on this, they are evolving more slowly than expected. Organisations with a policy that promotes workplace diversity have a higher degree of employee satisfaction, demonstrate their social commitment, and boost innovation. We will step up our guidance in the coming years to help them achieve this.

Françoise Chombar, Chair of Melexis and Best Managed Companies jury president

About Best Managed Companies

In 2017 Deloitte Private launched the Belgium Best Managed Companies programme in collaboration with Econopolis, joined by KU Leuven in 2019. The programme aims to provide guidance and recognition for privately owned and managed Belgian companies that achieve excellent results.

The globally proven framework is used to assess their leadership qualities and practices in the areas of strategy, talent, capabilities and financial performance. Companies wishing to participate in the programme must have a turnover exceeding €10 million. They must have been established for at least five years, have a workforce of more than 25 full-time employees and a majority stake (>60%) owned by a Belgian resident, person or entity. The company’s HQ or a major decision centre must also be located in Belgium and they must be fully compliant from a legal, tax and ethical perspective.

The Best Managed Companies programme is an international label denoting quality and excellence. The programme was developed in 1993 in Canada and has since been rolled out in over 42 countries worldwide.