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SUSTAINABILITY REPORT 2003-2004 Powered By Docstoc

   About this Report
GRI 2.20     The Company’s first Sustainability Report, covering the full year
 > page 31   2003 and major developments in 2004 The Global Reporting Initiative
             (GRI) guidelines have been used as a framework for this report. Special attention has
             been given to the following of the GRI principles:

             Clarity We have focused upon factual information and wherever possible,
             used uncomplicated language, supported by suitable graphics and a glossary on
             specific terms. This supports our aim of making the report useful for a diverse
             range of stakeholders with a variety of information needs.
             Neutrality We aimed to present a balanced account of our performance and to
             avoid intentional under or overstatement. Whereas the second part of the report is
             presented in a Q&A format and strictly follows the elements and performance
             indicators of the GRI Guidelines, the first section – clearly separated from the GRI
             reporting elements – focuses upon the results about which we are most proud.
             We resisted the temptation to include many ‘cheering’ quotations from individuals
             that were not representative of our stakeholders; we only included quotations sourced
             from representatives of stakeholder groups, organisations or institutions.
             Transparency and Accuracy We acknowledge that this report does not have
             the same level of exactness and completeness as traditional financial reporting, not
             surprising given that it is our first report of this kind. However, in the profile of this
             report (page 30–31) we do explain the processes, procedures and assumptions
             embodied in the reported information and indicate its level of accuracy.
             Completeness and Relevance We respond to each GRI core indicator by
             either reporting on it or explaining its omission. At the same time, we provide
             information that is actually relevant to our stakeholders in the context of our main
             business of human resources services.
             Sustainability Context We acknowledge that we have a very wide societal
             responsibility because of the fact that ‘work’ – that is core to our business – is a key
             factor in the well being of society at large.

             We are aware that there are opportunities for improvement in our sustainability reporting.
             These include covering a wider band of GRI performance indicators and more impor-
             tantly, a deeper level of reporting within each GRI indicator. Nevertheless, we see this
             document as a positive start and a good benchmark from which we can continuously
             improve the quality of our reporting. Any feedback is most welcome (contacts: see 2.10.
             on page 30).

             For more details on CSR by business unit level, please refer to the CSR Report
             of our largest subsidiary, Adecco France. This can be found on the Internet at:

        Associates The employees we employ on a temporary or indefinite assignment and who we lease as
        workers or professional specialists to our Clients (page 10).
        Candidates People who apply for a job as Associates or as Colleagues of the Adecco Group.
        Centre Info A company, that analyses and evaluates the conduct and performance of businesses
        in the environmental and social spheres. Investors integrate its results into their investment decisions.
        Centre Info is a founding shareholder of the international SiRi Company, a coalition of organisations
        providing social and environmental analysis (page 8).
        Clients The Adecco Group’s customer companies or organisations. We count about 250,000 Clients,
        when one calculates the number of organisations or profit centers we invoice. In some instances, one
        major company with several profit centres and invoice addresses is counted as several Clients (page 10).
        Colleagues The permanent employees of the Adecco Group (page 10).
        CSR Corporate Social Responsibility. There are many definitions used. The World Bank defines CSR
        as “the commitment of business to contribute to sustainable economic development, working with
        employees, their families, the local community and society at large to improve their quality of life, in
        ways that are both good for business and good for development” (page 9).
        Diversity A range of visible and non-visible differences that exist between people. Managing diversity
        harnesses these differences and can create a productive environment in which everybody feels valued, where
        talents are fully utilised and in which organisational goals are met (pages 16–17).
        DJSI The Dow Jones Sustainability Indexes are the first global indexes tracking the financial performance
        of the leading sustainability-driven companies worldwide. The DJSI World represent the top 10% of the
        leading sustainability companies worldwide, the DJSI STOXX represent the top 20% within Europe. Adecco
        reaches close to the lower end of the DJSI World and DJSI STOXX (page 8).
        Foundation The Adecco Foundations are designed as not-for-profit organisations with the purpose
        to directly or indirectly help disadvantaged groups enter the labour market. As not being under pressure
        to deliver profits, the Foundations are able to concentrate more on the needs of target groups, and build
        an important pillar for the Adecco Group’s social commitments (pages 12–13).
        FTSE4Good is a series of indexes designed to reflect the performance of socially responsible equities.
        A committee of independent practitioners in SRI and CSR ensure that the indexes are an accurate reflec-
        tion of current CSR best practice. Adecco is constituent of the indexes FTSE4Good Global and FTSE4Good
        Europe (page 6).
        Global Compact Fully explained on pages 21–22.
        GRI Global Reporting Initiative, fully explained on page 27.
        SAM Sustainable Asset Management. SAM, an independent asset management company specialising
        in sustainability investments, maintains the world’s largest corporate sustainability database built on the
        same consistent methodology. Its corporate sustainability assessment consists of a multifactor analysis
        including economic, environmental and social criteria (page 8).
        SiRi See “Centre Info”.
        SMI Swiss Market Index: Switzerland’s blue-chip index, which makes it the most important in the country.
        To be accepted into the SMI, stringent requirements with regard to liquidity and market capitalisation need to be
        met. Adecco is constituent of the SMI (page 8).
        SOX The Sarbanes-Oxley Act was signed into law in 2002 by President Bush, who characterized it as
        “the most far reaching reforms of American business practices since the time of Franklin Delano Roosevelt”.
        The Act mandated a number of reforms to enhance corporate responsibility, financial disclosures and
        combat corporate and accounting fraud. In particular, its section 404 (SOX 404), the regulation that addresses
        a company’s internal control over financial reporting, became relevant for the Adecco Group (page 33).
        SRI Socially Responsible Investment. An investment strategy that takes into account a company’s ethical,
        social and environment performance as well as its financial performance.
        Stakeholder Individuals or representatives of a group who have for various reasons an interest
        in a company such as the Adecco Group. This includes people who are directly or indirectly affected by
        the company, or can influence it (pages 10–11).
        Sustainability The concept to meet the needs of the present without compromising the ability of the
        future generations to meet their own needs. Sustainability and CSR are often used as synonyms

List of content

     About this Report                                                   3

     Glossary                                                            4

     About the Adecco Group                                              6

     Message from Jérôme Caille, Adecco Group CEO                        7

     The Adecco Group in the mirror of sustainability and CSR ratings    8

     Vision and strategy                                                 9

     Our Stakeholders                                                   10

     Our work to date                                                   12

     Highlights and case studies
     Outperformed targets on disability 2003                            14

     Working for greater diversity                                      16

     The Athletes Career Programme                                      18

     Training for a better job                                          19

     Participating in the Global Compact                                21

     «Adecco s’engage…» – 12 Service Guarantees                         23

     Outlook                                                            24

     Global Reporting Initiative (GRI) Section
     Introduction to the GRI                                            27

     GRI content index                                                  27

     GRI section                                                        28

     Sustainability and CSR Management                                  48

     Impressum                                                          49

        About the Adecco Group
GRI 2.2–2.4   Adecco S.A. is a Forbes 500 company As the global leader in HR solutions
              we deliver an unparalleled range of flexible staffing and career resources to corporate
GRI 2.7–2.8 clients and qualified associates.
              Adecco S.A. is registered in Switzerland (ISIN: CH0012138605) and listed on the
              Swiss Stock Exchange with trading on Virt-x (SWX/VIRT-X: ADEN), the New York Stock
              Exchange (NYSE: ADO) and Euronext Paris – Premier Marché (EURONEXT: ADE).
              Amongst the leading SRI (Socially Responsible Investment) indexes, Adecco S.A. is
              listed on the FTSE4Good Europe and FTSE4Good Global index.
              The Adecco Group comprises three divisions (following the sale of jobpilot in 2004):

              Adecco Staffing Division The Adecco Staffing network focuses on flexible
              staffing solutions for global industries in transition, including automotive, banking,
              electronics, logistics and telecommunications, as well as local customers of all sizes
              and sectors looking for flexible staffing solutions. Adecco offers associates fast and
              efficient placement in temporary assignments, ensuring they are fairly paid and that
              their rights are protected.
              Adecco Staffing Services’ products include Temporary Recruitment, Temporary to
              Permanent Recruitment, Permanent Recruitment and Staff-related Services.

              Ajilon Professional Ajilon Professional offers a wide range of specialised con-
              sulting and project management businesses. Ajilon’s staffing companies offer Professional
              Staffing and Managed Services solutions. Professional Staffing provides highly qualified
              and specialised temporary (including independent contractors and interim executives)
              and permanent placement focused primarily on the information technology, finance and
              accounting, legal, high-end administrative, telecom, sales and marketing and engineering
              market segments.
              Managed Services solutions include specialised staffing and the expertise of mainly
              full-time hired employees. Ajilon’s Managed Services group takes responsibility for the
              recruitment, motivation and training of these highly qualified professionals. The
              Managed Services group also develops, implements and manages projects for customers,
              taking full or part responsibility for the end results and the maintenance of projects.

              Lee Hecht Harrison Career Services Lee Hecht Harrison (LHH) Career
              Services “rounds out” the “employment cycle” within the Adecco Group, delivering
              global cutting-edge services in career and leadership consulting, outplacement,
              executive coaching and career development. LHH:
              – helps organisations of all sizes effectively manage change, restructuring and
                internal career mobility
              – supports the most senior level executives in their transition to new opportunities
                through providing customised tools, expertise, resources and business connections
              – offers a wide range of career services that are delivered directly to individual
                consumers of all professional levels and backgrounds

   Message from Jérôme Caille, Adecco Group CEO
 GRI 1.2   I am proud to present the Adecco Group’s first Corporate Social
           Responsibility (CSR) and sustainability report It is a starting point not only
GRI 3.18 for Adecco, but also for the entire HR services industry as this report is the first from a
           global HR solutions provider.
           Adecco is committed to fighting workplace discrimination and to building better
           opportunities for disadvantaged groups at the margins of labour markets. These groups
           include the unskilled (often young people), the disabled, workers over the age of 40
           who find their age a barrier to employment, and mothers who wish to re-integrate into
                                              the workforce. One of our key tools to help these
                                              groups are the Adecco Foundations, launched so far
                                              in Belgium, France, Germany, Italy and Spain.
                                              Through the Athletes Career Programme we are also
                                              dedicated to helping former athletes. We provide them
                                              with professional career development services on a
                                              worldwide basis during and after their sporting careers.
                                              Sports competition requires such a huge personal
                                              investment from athletes, leaving them very little time
                                              to prepare for their professional future. Many of them
                                              finish their sporting career and find it difficult to move
                                              on with their professional lives.
           Since 2003, we have centralised and intensified our CSR activities to allow us to focus
           on all of our stakeholders. We believe this will lead to a more sustainable business.
           I would like to draw your attention to three of our most significant CSR achievements
           of the last two years.
           Disability In the European Year of People with Disabilities (2003), we helped more than
           8,500 disabled people find employment in Europe. 2004 was even more successful. Adecco is
           a founding member of the European network, Business & Disability.
           UN Global Compact In November 2003, Adecco became the first global HR services
           company to join the United Nations Global Compact. Our first initiative was to partner
           with the International Labour Organisation’s training centre, to train our staff in human
           and labour rights.
           Adecco Commitments In 2004, to evidence our aim of striving to deliver the industry’s
           best services, we launched commitments to guaranteed services for Clients, Colleagues
           and Associates. These include defending international labour standards such as non-
           discrimination, and focusing on health and safety at work.
           Looking to the future, there is much to be done to eradicate workplace discrimination,
           to provide better skilling and access for the most disadvantaged groups, and to ensure
           international human rights and labour standards are met in workplaces. These chal-
           lenges are made more complex by four macro trends: the maturing workforce, caused
           by declining birth rates; migration, particularly within Europe and to the USA from
           Latin America; the deregulation of labour law in many European countries which opens
           new opportunities but includes the respective responsibilities; and the demand for
           greater flexibility by employers and by people at large.
           As a mission statement, I share the closing remarks of Kofi Annan, UN Secretary-General,
           at the Global Compact Summit, June 2004: “Let us be true global citizens. Let us not rest
           until we have truly succeeded in bringing positive change into the lives of people, and laid
           the foundations for peaceful, well-functioning, sustainable societies throughout the world.”
           I very much look forward to updating you on our progress.

           Jérôme Caille, Adecco Group CEO

    The Adecco Group in the mirror of sustainability and CSR ratings
        Dow Jones Sustainability Indexes (DJSI) Assessments 2002 and 2004
        In the Dow Jones Sustainability Indexes (DJSI) review 2004 by SAM Research Inc., the Adecco Group
        increased its sustainability rating from a score of 11% (last assessment in 2002) to 52% (assessment 2004)
        and outperformed the average score of its industry sector, “industrial services”.

               60    score (%)



                                                                               lowest in DJSI World*
                                                                               industry average on a global basis
               10                                                              the Adecco Group
                                                                               best company on a global basis
                0                                                              within industry sector
                                  2002                 2004                   * within industry sector “industrial services”
                    (based on publicly available
                         information only)

        Sustainability scores in the SiRi Global Profile 2003 and 2004
        In the sustainability assessment 2004 by Centre Info (Swiss Member of the SiRi Company), the Adecco
        Group increased its sustainability rating from a score of 44% (in 2003) to 52.1% (in 2004) and got above
        the average score of its industry sector, “commercial services & supplies”.

               70     score (%)





                                                                               lowest in industry
               10                                                              average
                                                                               the Adecco Group
                0                                                              best in industry
                                 2003                   2004

        Ranking in the SMI Sustainability Report 2003 by Centre Info
        On the basis of the information available in the SiRi Global Profiles, Centre Info assessed the sustainable
        performance of the SMI companies on a scale from 0 to 10. The Corporate Sustainability Rating is the result
        of the Sustainable Performance Rating lowered by the Controversies Evaluation. As shown in the table, the
        Corporate Sustainability Ratings of the SMI companies range from 7.8 to 0.4. The average is situated at 5.1.
        The Adecco Group is with 6.6 on the 4th rank out of 25. The SMI Sustainability Report 2003 was the first of its kind.

                8     score (0 to 10)






                                                       lowest of SMI
                1                                      average of SMI
                                                       the Adecco Group
                0                                      best of SMI

  Vision and strategy
GRI 1.1   In addition to providing for the cost of living, work gives people
          dignity and a sense of community and belonging Work drives the local
          and global economies and is key for the well-being of society at large. As the world
          leader in HR services and as one of the world’s largest employers, the Adecco Group has
          a vital responsibility and is well positioned to help make the world’s workplace better.
          “Better” for us means fair accessibility for everybody, equal opportunities and
          workplace conditions that help make life and business plans a reality.

          Our aim is to meet your responsibility by contributing to a better workplace and to be
          – the employer of first choice whose Colleagues and Associates are proud to work for
          – the HR solutions provider of first choice for our Clients
          – a global enterprise trusted by society at large
          – a business that generates a socially “clean”, sustainable and better-than-average
            return on investment for investors

          As we see it, Corporate Social Responsibility (CSR) is about treating all our stake-
          holders as we would wish to be treated ourselves. It is neither altruism nor exploitation,
          but about building fair and sustainable stakeholder relations. This is how we expect
          to contribute to a better workplace and finally to also enhance trust and reputation,
          reduce risks, strengthen our competitive position and achieve sustained profitability
          and long-term growth.

          The strategy

          1. Strengthening sustainable stakeholder relations. This means to learn in open
          stakeholder dialogue more about their needs and concerns in the context of the labour
          market and in their relationships with us and consequently to answer to their needs
          with appropriate products, services and commitments. Our core stakeholder groups
          are presented on the next pages, followed by highlights and case studies (pages 14–23)
          demonstrating our work with them.
          2. Business ethics and compliance. We aim to embed our Code of Conduct of prin-
          ciples and values in the daily work of Colleagues, to ensure ethical behaviour as well as
          compliance with laws and human rights. Our commitment to this includes training,
          incentive and control systems.
          3. To monitor our progress, set priorities and set benchmarks for achievable targets,
          we are working to identify appropriate CSR performance indicators and the means to
          measure them.
          4. To be transparent about our sustainability performance, we will continue to report
          on our progress. This will be within the bounds of commercial confidentiality and in
          line with the Global Reporting Initiative Guidelines.

          See also Outlook, pages 24–25.

    Our Stakeholders
  GRI 2.9   Our Colleagues and our Associates

            Who are they?
            – Our Colleagues are the 28,000 permanent employees of the
              Adecco Group across the world.
            – Our Associates are the approximately 650,000 workers,
              specialists and highly skilled professionals we employ on any
              day on a temporary or indefinite assignment, as independent
              contractors or as interim executives.
            This stakeholder group includes: Candidates and former
            Colleagues and Associates, and underrepresented groups
            such as minorities, people with disabilities, older people and
            Our objective
            To be the employer of first choice, in both temporary and
            permanent markets, selected for our training and provision of
            high-quality consignments, workplaces and conditions. In
            addition, to be able to offer temporary work as a Stepping Stone for
            underrepresented groups to enter or re-enter the labour market.
            Our expectations
            We expect to provide our Clients with the industry’s best quality
            of service, based on a highly skilled and motivated workforce,
            stronger team spirit, higher employee satisfaction, lower staff
            turnover, higher Candidate attraction and Associate retention
            and fewer lost days. The benefit for us and our shareholders is
            greater profitability.

Our Clients

Who are they?
– Every year, the Adecco Group serves 250,000
  businesses of all sizes, across all industry sectors.
– Within this stakeholder group we also include
  Prospects and former Clients.
– Some of our Clients are also our suppliers.
Our objective
                                                          Our Investment Community
– To be the HR services provider of first choice
  thanks to guaranteed Client satisfaction.               Who are they?
– To ensure that Clients’ workplaces comply               Our investment community is primarily
  with human rights and international labour              made up of financial analysts, investment
  standards.                                              banks, individual investors, institutional
Our expectations                                          investors, rating agencies and brokers.
– To generate more business thanks to better              Our objective
  services for Clients.                                   To ensure that investors associate Adecco
– To provide good and safe places of work for             with sustainability, social responsibility
  our Associates that comply with human rights            and trust due to our ability for transparent
  and international labour standards.                     delivery on strategic expectations, com-
                                                          munications, corporate governance and
                                                          accounting practices.
                                                          Our expectations
                                                          To deliver a strong and credible equity story
                                                          and therefore continue attracting long-term
                                                          committed investors, as well as socially
                                                          responsible investments.

  Our Suppliers
   Who are they?
   Suppliers of any Adecco Group subsidiary.
   In many cases, our suppliers are also our Clients.
   Our objective
   – To achieve strong and long-term relation-             Environment
     ships with suppliers.
   – To ensure that our suppliers share                      What is it?
     our concept of social responsibility and                – The world’s flora and fauna as well as
     delivering socially and environmentally                   their habitat and its condition.
     “clean” goods.                                          – The environment is served through
   Our expectations                                            multiple organisations and institutions
   – To increase our reputation amongst                        including: UNEP, governments and
     our suppliers who are or might become our                 ministries (of nature & environment)
     Clients.                                                  and global and local NGOs.
   – To ensure that we continue developing                   Main topics of labour market concern
     good partnerships that help to easily resolve           Severe natural events such as floods and
     any problems.                                           cyclones represent significant potential
                                                             risks for people, the main resource for
                                                             most businesses.
                                                             Our objective
Governmental organisations &                                 To be an environmentally “low-impact
society at large                                             business”.

Who are they?
– Basically all people all over the world that are affected by the
  labour market, wherever the Adecco Group is operating.
– Their many interests and requirements are represented through
  multiple organisations and institutions, including: UN, OECD,
  governments and (labour) ministries, EU Commissions, local
  communities, ILO, trade unions, trade associations, non-profit
  organisations, charitable organisations, the media, schools and
  colleges and universities.
Main topics of labour market concern
– The changing labour market, including: (de)regulation,
  fair work conditions, mobility, the maturing workforce, the
  increasing demand of “knowledge workers” and work/life
– Accessibility to the labour market for the disadvantaged and
  still under-represented groups.
– Human rights, equal opportunities, child labour, forced labour,
  freedom of association and health and safety.
Our objective
To ensure the Adecco Group is perceived as a socially,
economically and environmentally responsible and trustworthy
company, and the labour market partner of first choice.
Our expectation
To create a positive impact on our business.

       Our work to date: making the labour market accessible for disadvantaged groups
    GRI SO1
     >page 43

                                    Since 1985: “Emploi et Inser-
                                    tion” programme in France
                                    Offering disadvantaged groups as-
                                    sistance, support and training for
                                    labour integration. In 2003, the                             Since 1995: LHH partnership
                                    department helped 5,029 disabled                             with JAG (Jobs for America’s
                                    individuals and, via its ETTI network,                       Graduates)
                                    4,598 long-term unemployed find                              America’s largest and most successful
                                    employment. See                            school-to-career transition and drop-
                                                                                                 out prevention programme for at-risk
                                                                                                 and disadvantaged youth. Today,
                                                                                                 Adecco USA has joined this partner-
                                                                                                 ship to help thousands of young peo-
                                                                                                 ple prepare for employment. See

                                                                   Since 1993: Adia/Adecco
                                                                   Foundation in Germany
                                                                   A research and think tank body to
                                                                   help those on the margins of employ-
                                                                   ment cope with labour market
                                                                   change. To date, the foundation has
                                                                   published over twelve academic
                                                                   books reporting the findings of
                                                                   research projects it has initiated and

The Adecco Group’s Milestones of Social Commitments

           1957             1964                  1985                1988                1993              1995                1996

The Adecco Group’s Milestones of Business Growth

                                                                                                             Creation of
                                                                                                             following the
          Adia is
                                                                                                             merger of
          founded in
                                                                                                             Adia and Ecco
                                                                  Lee Hecht

                        Ecco is
                        in France

                        Since 2000: “Renaissance
                        Programme” in the USA
                        to help older people find
                        employment. The “American
                        Association of Retired Persons”      Since 2002: Adecco Career
                        recognised Adecco’s achieve-         Accelerator in the USA
                        ments by granting us the “Best       to find employment for the
                        Companies for Workers Over 50”       spouses of Navy, Marine Corps
                        in 2002, 2003 and 2004.              and other armed forces person-
                        See            nel. Since the program’s incep-
                                                             tion, we have found work for
                                                             more than 5,900 people.
                                                                                                             Since 2003: A more
                                                                                                             centralised approach
                        Since 2000: International                                                            to CSR, from helping
                        Athletes Career Programme                                                            the disadvantaged to
                        to help professional athletes and
                        sportspeople start conventional
                                                                                                             caring about all of
                        careers after retiring from sport.   Since 2002: Adecco Foun-                        the Adecco Group’s
                        To date, more than 700 athletes      dation in France                                stakeholders.
                        have completed the programme,        to help young people succeed in
                                                             education and transition into                   See pages 9–11.
                        with a 95% success rate.
                        See page 18.                         employment. Today, every year
                                                             the foundation grants about EUR
                                                             305,000 for projects to fight illit-
                                                             eracy and help children with their
                                                             homework and to implement
                                                             measurements for easier school
                                                             access for young people with
                                                             See            Since 2003:
                                                                                                    Adecco Foundation
                                                                                                    in Belgium
Since 1999: Adecco                                                                                  to assist, support and train dis-
Foundation in Spain                                                                                 advantaged people for labour
to assist, support and train disad-
                                             Since 2001: Adecco                                     integration. In 2003, it trained
vantaged people for labour inte-
                                             Foundation in Italy                                    and supported about 260 young
gration. In 2003, found employ-                                                                     people, who have skill shortages,
                                             to assist, support and train dis-
ment for 809 disabled people,                                                                       to help place them into the
                                             advantaged people for labour
1,169 (single) mothers and 13,873                                                                   labour market. It has also started
                                             integration. In 2003, the founda-
people over 45.                                                                                     an integration programme for
                                             tion found employment for 671
See                                                                          people with disabilities. See
                                             disabled people, 2,743 (single)
                                             mothers, 2,783 long-term unem-               
                                             ployed and 14,980 people over 40.

   1997                 1999                2000               2001                 2002               2003

  TAD                                 Adecco +
  acquisition                         Olsten
                                                                              Group reorganisation:
                                                                              From temporary staffing to
                                                                              full HR services
                                                                              Recognising the potential to
                                                                              develop its business beyond its
                                                                              core temporary staffing expertise,
                                                                              in 2002 Adecco introduced a new
                                                                              divisional structure. This structure
                                                                              re-aligned our business units,
                    Career Staff
                                                                              focusing on our core general
                    acquisition                                               staffing business and our spe-
                    Delphi acqui-                                             cialised staffing and career services
                    sition                                                    divisions.

  Highlights and case studies: Outperformed targets on disability 2003
GRI SO1    For many years, the Adecco Group has committed itself to help
>page 43   disadvantaged people access work and integrate into the labour
           market See pages 12–13. In 2003 we had a particular focus on our partnership
           with the European Year of People with Disabilities (EYPD).

           Work for people with disabilities During the EYPD2003 the Adecco Group
           exceeded its target for placing people with disabilities into the labour market. By the end
                                               of the year, we had helped more than 8,500 disabled
                                               people find employment. About 84% of them were
                                               placed in work in France by Adecco (59%) and Adia
                                               (25%), about 6% by Adecco Foundation Spain, 8% by
                                               Adecco Foundation Italy, and the remaining 2% by
                                               several European subsidiaries of the Adecco Group.
                                               In France, 60% of the candidates had mid-ranging
                                               disabilities, 29% had minor and 10% serious disabili-
                                               ties. About 66% found temporary work and 33% found
                                               permanent jobs. More than 55% were hired for jobs
                                               requiring qualifications (34% as skilled workers, 15%
                                               as service sector employees and 6% as lower or higher
           CEO Jérôme Caille receives an       managers).
           award in recognition for the Adecco The Adecco Foundations in Spain and Italy placed
           Group’s partnership with EYPD2003   candidates suffering from physical (about 75%),
           from Anna Diamantopoulou,
           EU Commissioner for Employment
                                               sensorial (18%) and mental (7%) disabilities. About
           and Social Policy.                  20% of them got permanent contracts and 95% of the
                                               temporary contracts later became permanent roles.

           We also exceeded our target of scheduling conferences throughout the European Union
           to champion people with disabilities as a resource for the labour market. Instead of the
           originally targeted 15 conferences for 2003, we delivered a series of 33 events.

           Continued commitment in the field of disability The Adecco Group stands
           by its policy of making its branches accessible for people with disabilities and intends
           to become the natural springboard for these people to enter the labour market.
           In general, global staffing services are concerned to promote the placement of those
           who often find it most difficult to enter the workforce. A CIETT/McKinsey study supports
           this. It shows that private employment agencies provide a valuable service to the EU
           economy by offering training and then matching skills to jobs. 43% of first-time agency
           workers are long-term unemployed, students or have little job experience. Moreover,
           40% of agency workers find long-term employment within one year of starting an
           agency work assignment.

           In spite of all our achievements, we think that there is still a lot do do. Thus, at the
           beginning of 2004 the Adecco Group created an International Director position, respon-
           sible for driving forward our programmes for disabled people. His mission is to raise
           the number of people with disabilities amongst our Associates and Colleagues and to
           ensure that our business units will at least meet the quota of minimum percentages
           of disabled employees, where such quota are in place.

         Business & Disability network founded In this context, and following our
         success during the European Year for People with Disabilities, we became a founding
         member of Business & Disability, a European network of companies involved with
         disabled people and their accessibility to the labour market, society and the Internet.
         Business & Disability was set up in December 2004 by companies who share a deter-
         mination to work together at European and national levels to further these aims.

         Individuals with disabilities inserted into the labour market In helping
         people with disabilities access the labour market, we increased our 2003 performance
         by 5.5% compared to 2002. And our 2004 results of approximately 9,500 inserted individuals
         represent an improvement of 11.5% compared with 2003.

 5,000                                              Other business units
                                                    Adecco &
                                                    Adecco Foundation Italy
 3,000                                              Adecco &
                                                    Adecco Foundation Spain
 2,000                                              Adia France
 1,000                                              Adecco France

             2002        2003        2004

   Highlights and case studies: Working for greater diversity
GRI LA10    The “Latitude” programme in France A milestone was reached in March
 >page 41   2002 when several governmental institutions as well as Adecco and Adia signed an
            agreement to help curb discrimination against any minorities or marginalised groups –
                                                       see the adjacent letter. This was the first time
              «Private-sector intermediaries –         the private sector and the government had
              and Adecco most particularly –           ever signed such an agreement in France.
              also have a vital role to play.          Adecco is delighted that the French Minister of
              That is why I believe Adecco’s           Social Affairs, Employment and Solidarity is
              commitment alongside that of             pleased with the collaboration.
              the State is a major step in
              efforts to curtail discrimination        The French diversity initiative is making great
              in the employment market.»               progress; in February 2004, Madame Nicole
                                                       Ameline, Deputy Minister for Equal Opportun-
              François Fillon, The Minister of Social
              Affairs, Employment and Solidarity,      ities and Gilles Quinnez, CEO of Adecco France,
              France; January 2003 (the full letter is signed an agreement about equal professional
              downloadable at      opportunities for men and women. The objec-
                                                       tives are: to promote professional equality
            between male and female associates, through mixed-sex jobs and direct access to the
            job market; to encourage professional equality amongst colleagues; and to encourage
            professional equality in relationships between Adecco and its Clients.

            The Adecco Dimensions programme in the USA In the United States
            in 2003, Adecco launched a diversity programme, “Dimensions”, encompassing four key
            Diversity Education, because ongoing communication and education to all of Adecco’s
            constituents are critical to building awareness
            Diversity Recruitment to tap into a wide range of resources to hire the most talented
            and capable staff available, regardless of gender, race, national origin, language, differ-
            ing physical abilities or other factors
            Supplier Diversity to continue to develop alliances with Minority/Women Business
            Enterprises (MWBE), providing opportunities for qualified firms and individuals
            Community Outreach to develop partnerships with diverse communities to foster
            mutual support and understanding and enhance community service and relations. This
            increases Adecco’s ability to network in minority communities and attract talented
            and motivated employees of different backgrounds.

            The Adecco Plus programme in the UK In October 2004, Adecco UK
            launched Adecco Plus, a dedicated and specialist programme for raising awareness of
            workplace diversity, focused on integrating potentially disadvantaged groups into
            the labour market. This involves the development of specific services to address the
            ageing population, diversity and disability within the workplace.
            Aimed at breaking down the barriers to access recruitment services, Adecco Plus
            centres on the belief in equality of opportunity and that people should only be placed
            on the basis of skills and ability.

The Adecco Plus initiative provides:.
– Diversity monitoring – Adecco will work closely with all employers to monitor
  recruitment trends within their businesses to ensure fair and equal access.
– Offsite registration processes – providing equal and easy access to all job seekers
  regardless of disability.
– Access to local disability experts – Adecco staff will be fully trained in the issues
  facing disabled candidates, therefore providing a caring and effective service to all.
– Fully trained staff – via Adecco’s “University”, and forming a key part of employee
  training programmes, all staff will be kept informed of any legislation developments,
  therefore ensuring up-to-date advice and information is always provided.
– Complete compliance – Adecco’s regional team of Business Process Managers (BPM)
  will ensure complete compliance across the five areas of legislation ( The Race
  Relations Act, Disability Discrimination Act, Sexual Orientation and Religion & Belief
  legislation and Sexual Discrimination Act).

Adding further weight to this initiative, Adecco UK is working closely with the Third
Age Employment Network ( TAEN), an organisation that campaigns for better opportun-
ities for mature people to continue to learn, work and earn. Adecco UK is also heavily
                                        involved with local and regional community
   «The Third Age Employment            projects and networks that actively support this
   Network (TAEN) warmly wel-           highly skilled and experienced demographic
   comes the launch of Adecco           group. Such organisations include Business in
   Plus. It needs positive action       the Community and Race for Opportunity.
   from such key labour market
   intermediaries as Adecco
   for the employment prospects
   and opportunities for people
   in mid- or later working
   lives to materially improve.»
  Patrick Grattan, CEO from TAEN

 Highlights and case studies: The Athletes Career Programme
     The Adecco Group shares many values of the sporting world We are
     determined to be the best at what we do, we are driven to meet our goals, we have a
     team-focused culture and we are multicultural. Our partnership with sport, however, is
     far more than traditional sports endorsement.
     Athletes often have difficulties entering the traditional labour market after the end of
     their sporting careers. Only the most elite athletes and sportspeople are able to retire
     from their game without needing to work again.
     Most professional athletes need support to start a conventional career. And we are
     delighted to be a partner to many sports associations to play the vital role of helping
     athletes start new work, through our Athletes Career Programme, operated through
     our divisions Adecco, Ajilon and Lee Hecht Harrison.
     The Athletes Career Programme was developed in 1999 in Spain. By the end of 2003
     we had initiated the programme in Denmark, Italy, Norway, Spain and Sweden. Following
     this success, we appointed an International Athletes Career Programme Director to
     expand the initiative. In 2004 we launched the Athletes Career Programme in Finland
     and France.
     To date, 914 athletes have completed the programme and 95% of them have found
     meaningful new careers.

     Dr. Diana Bianchedi, Vice President of the National Olympic
     Committee of Italy (CONI), about the Athletes Career Programme
     “Since 2000, the National Olympic Committee of Italy works in association with Adecco
     to assist former athletes in their transition into employment after they have retired
     from their full-time sports activities.
     We had realised that, when top-level athletes finish their sports careers, their level
     of education corresponds with the very limited time they could invest in vocational
                                         training. On top of this, they are also clearly older
                                         than other applicants entering the labour market.
                                         The Olympic Committee helps the athletes in their
                                         sport career by all means, but till 2000 the athletes
                                         found themselves alone as soon as they retired from
                                         their sports career. So we wanted to provide them
                                         continued security and self-esteem, very much like
                                         they needed it to succeed in sports competitions.
                                         However, we haven’t the know-how to help them in
                                         this new challenge. So we decided to start the Athletes
                                         Career Programme with the Adecco Foundation in
     Dr. Diana Bianchedi (center) at the To date, we helped a lot of top athletes. More than
     Olympic Games, Sydney 2000.         320 former athletes found work thanks to this pro-
                                         gramme. Adecco showed them how to transfer their
     skills and experiences from sports to conventional careers. The programme further
     included vocational training, how to set up a CV, exercising interviews and finally sup-
     port in finding a job. We are very thankful for and proud of this project. Not only the
     athletes but also their coaches, their parents and all people involved think that this pro-
     gramme is a success and a real need. We will surely work to develop the project further
     with both the Adecco Foundation and the Adecco Group and hope that this programme
     will expand into many other countries.”

     Diana Bianchedi, Rome, May 2004

  Highlights and case studies: Training for a better job
GRI LA9    Adecco University As a strong commitment to our managers and their profes-
>page 41   sional development, in 2003 Adecco’s HR department created the Adecco University.
                                             The University’s objective is to further develop
            «We are proud to partner         Adecco’s culture of industry innovation, leadership
            with Adecco to build and         and knowledge transfer throughout its worldwide
            deliver their International      network of some 28,000 Colleagues across almost
            University. Adecco’s global      70 territories.
            knowledge of employment          Adecco University partners with IMD, one of the
            markets is unrivalled, and       world’s leading business schools with over 50 years’
            it will be a very powerful       experience in developing the leadership capabilities
            collective intellect to harness  of international business executives at every stage
            further.»                        of their careers.
            Peter Laurange, President IMD
                                               The Adecco University has two streams:
           National Adecco University, designed for Colleagues in our branches, dealing every
           day with Clients and Associates, and for middle management, responsible for transfer-
           ring the company’s values and priorities throughout the organisation, and for leading,
           training and coaching teams
           International Adecco University, designed for top global management to develop their
           leadership capabilities, including strategic knowledge acquisition, and to create inno-
           vation groups to work on strategies for Must-Win-Battles
           The University will help us to continue attracting and retaining the talent we need to
           consolidate our position as the global number one player, and to continue establishing
           a common Adecco culture throughout the worldwide Adecco Group.

           Flexible learning to upskill Associates in the UK Adecco UK offers its
           30,000 Associates free of charge online courses covering a wide range of management
           and professional competency skills.
           The courses are designed to improve the ability of today’s workforce, and to master
           the business and technology skills required for competitive success. This is good for
           both our Associates and our Clients – Associates get better placements and Clients
           get better-skilled employees.
           The Adecco University now provides Associates access to a portfolio of 120 free e-learn-
           ing courses via the Adecco website. Subjects include: Sales, Customer Service, Project
           Management, Call Centre Management, CRM, HR & Recruitment, Management, Per-
           sonal Development and Software.
           The courses are self-directed and allow the users to access and learn at a place and time
           suitable to them, including at home. The courses can be bookmarked so that the learner
           can digest the information in bite-size chunks. The courses can be deployed via the Xpert
           Online platform, which gives the ability to assess and train people remotely.
           Over 2,500 Associates have taken part in the programme since its launch in 2003.

           Ajilon Consulting’s Virtual University (USA & Canada) Ajilon Consulting
           in North America offers similar opportunities to both its permanent employees and
           hourly Associates (after two years’ service). The Virtual University is an Internet-based
           further education resource and offers employees an excellent opportunity to participate
           directly in their career planning and management. Courseware is available in a variety
           of competencies, including: Business Skills, Management Skills, Professional Develop-
           ment and Technical Competencies, and courses are also available in audio format. The
           Virtual University is also available to Ajilon’s Clients.
           Participants can access their learning materials online or download content to study

     Classroom-based training courses for Associates, Colleagues and
     even employees of Clients In addition, the Adecco Group provides traditional,
     classroom-based training for its Associates and Colleagues covering job skills for most
     professions, as well as a module for health and safety at work. The Adecco Group also
     offers training as a product to its Clients.
     In 2003, Adecco France provided over 148,000 training hours for more than 30,000
     Associates (see Adecco France’s CSR Report at
     Last year, Adecco Spain’s training programme “Adecco Formación, trained over
     39,000 Associates and more than 1,200 of the company’s Colleagues, in some 6,000 courses.
     “Adecco Formazione” in Italy trained approximately 47,000 Associates in more than
     9,000 courses.
     Adecco’s training programmes are seeing continual growth.
     “Adecco Formación” in Spain generated a revenue increase of 100% in 2003. In Italy,
     growth in 2003 has led to the launch of a new division – the Adecco Management

   Highlights and case studies: Participating in the Global Compact
GRI 3.14    Respect for the internationally accepted values and standards
 >page 34   of human rights and labour is core to the Adecco Group’s corporate
            social responsibility In November 2003, the Adecco Group became the first
            major HR services company to participate in the United Nations Global Compact. The
            company’s participation represents its support for the Global Compact’s ten principles,
            which cover human rights, labour rights, the protection of the environment and the
            fight against corruption. It is also a commitment from the Adecco Group to integrate
            the values of the Compact into the company’s strategy, culture and daily operations.
                                                         As the world’s largest recruitment and
              «It is very encouraging to see that        staffing company, the Adecco Group’s great-
              a leading company like Adecco is           est focus is on the sixth principle – to elimi-
              taking its participation in the Global     nate discrimination in labour markets. The
              Compact seriously by trying to             Adecco Group values the diversity of its
              provide decent jobs for its own            employees and the different perspectives
              employees and its associates and by        they bring to the company. We believe that
              working to ensure due respect for          effective diversity management enriches
              the fundamental principles and rights      our performance and service, the commu-
              at work as reflected in the Global         nities in which we live and work, and the
              Compact. Adecco’s work to integrate        lives of our employees.
              disadvantaged groups in the labour         The first step to deeper integration of the
              market is particularly noteworthy.»        Compact’s values into the Adecco Group’s
              Mr. Hans Hofmeijer, Director Multinational
                                                         strategy was to ask the International Labour
              Enterprises Programme at the ILO           Organization (ILO), based in Geneva,
                                                         to work with us to train about 28,000 of our
            staff across the world on human rights, labour standards and diversity. The result
            was an agreement with the ILO’s International Training Centre in Turin (Italy) to train
            the Adecco Group trainers so that they could then cascade their learning throughout
            the organisation. The first course, “Global Compact Management Training on Non-
            Discrimination”, took place in July 2004.

            The ILO is a specialist agency of the United Nations, charged with promoting social
            justice and internationally recognised human and labour rights. It is the world’s major
            resource centre for information, analysis and guidance on the world at work and has
            been one of the most successful multilateral agencies in fulfilling its mandate. Two of
            the ILO’s objectives are to “promote and realise standards and fundamental principles
            and rights at work” and to “create greater opportunities for women and men to secure
            decent employment and income”.

     The Global Compact Launched at the UN headquarters, New York, in July 2000,
     the Global Compact is a voluntary corporate citizenship initiative with a vision of a
                                         more sustainable and inclusive global economy. It has
                                         two objectives: to encourage adoption of its “ten
                                         principles” in business activities around the world,
                                         and to help deliver the UN’s human and labour rights
                                         goals. During the first Global Compact Leaders
                                         Summit, held on June 24, 2004, at the UN headquar-
                                         ters, the United Nation Secretary-General Kofi Annan,
                                         announced the addition of a tenth principle against
                                         Through the power of collective action, the Global
                                         Compact seeks to advance responsible corporate
                                         citizenship so that businesses, in partnership with
     Adecco Group’s Chief CSR Officer,   other socially committed organisations, can be part of
     Enrique de la Rubia, at the Leaders the solution to the human rights and labour markets
     Summit of the Global Compact        rights challenges of globalisation.
     in June 2004 at UN headquarters in
     New York.

     The Ten Principles of the Global Compact
     Human rights
      1. Businesses should support and respect the protection of internationally proclaimed
         human rights within their sphere of influence; and
      2. make sure that they are not complicit in human rights abuses.
     Labour standards
      3. Businesses should uphold the freedom of association and the effective recognition
         of the right to collective bargaining;
      4. the elimination of all forms of forced and compulsory labour;
      5. the effective abolition of child labour; and
      6. eliminate discrimination in respect of employment and occupation.
      7. Businesses should support a precautionary approach to environmental challenges;
      8. undertake initiatives to promote greater environmental responsibility;
      9. encourage the development and diffusion of environmentally friendly technologies.
     10. Businesses should work against all forms of corruption, including extortion and

   Highlights and case studies: «Adecco s’engage...» – 12 Service Guarantees
GRI 3.12    Twelve unique commitments for a guaranteed service After two years
 >page 34   of research and a comprehensive study conducted by the Business School of Lyon
            (EM Lyon), Adecco France created a new set of service standards for the temporary and
            permanent work industries – the Adecco Commitments Programme.

            Roll-out across 18 countries The Commitments were launched in January 2004
            in France, and by September the Adecco Staffing Division had rolled out the initiatives
            across a further 17 European countries. Its Asia Pacific zone is in progress to launch the
            programme in January and February 2005.
            Adecco’s Commitments consist of 12 service guarentees; six for Clients and six for
            Associates and some of them are backed up by the offer of compensation in the case of
            failure. For example, commitments to Clients include the guarantee to respond to
            their enquiries within four hours, 100% satisfaction with the assigned Associate as well
            as to collaborate with the Client for safety at work.

GRI LA10    The commitments include also a focus on fundamental rights of the
 >page 41   Associates, such as non-discrimination, social and professional benefits and safety at
            work. Although these are obvious rights we decided to include them in our commit-
            ments, because they are so important and, in reality, not publicly known and still need
            strong support.
            Therefore, the service guarantees include that Adecco commits itself to inform its
            Associates about the risks linked to their assignments, and to prompt the Client to ensure
            their security. Nevertheless, if an Associate is facing a major or immediate jeopardy, the
            Adecco Group guarantees the right of withdrawal and to limit the financial consequence
            for the Associate.
            Furthermore, the Adecco Group commits itself to recruit Associates without discrimination,
            which means to base the recruitment only on professional criteria but not others such as
            religion, origin, sex, age, handicap, etc. In case of a doubt, the Adecco Group will analyse
            together with eventually affected Associates any discriminating behaviour. The Adecco
            Group has also made a series of similar commitments to its Colleagues.

            Our answer to the needs of our Clients and Associates The Adecco
            Group’s commitments were born out of its recognition of the pressures and concerns
            of its Clients and Associates. Clients were requiring more skilled temporary workers
            to enable them to become more flexible to the increasing demands of competing in the
            global economy. And temporary workers and Candidates wanted the guaranteed
            security and benefits of a long-term partnership with their HR provider to build their
            careers, rather than the basic ability to find them occasional jobs. At the same time,
            the regulatory environment across the world had become more favourable towards the
            temporary working industry. However, declining birth rates had caused a growing
            shortage of Candidates. As such, organisations needed to be able to turn to a supplier
            that could guarantee high-quality pre-selected temporary workers, skilled to their
            exact requirements and backed by a standard of service including guaranteed person-
            alised and continuous professional support.

     Objectives/activities by end of 2004*                  Outlook for 2005

     1. Strengthening sustainable stakeholder relations
     Clients, Associates and Colleagues
     Launch of Service Guarantees to Clients                Roll-out of Service Guarantees to nine
     Associates and Colleagues. Roll-out across             major business units in Asia Pacific as well
     17 major business units in Europe (page 23)            as to North America

     Roll-out of the International Adecco                   Increase number of trained managers
     University; first 260 managers from all                (international level): +45%, thus 380
     countries and all divisions went through               managers from all countries and all divisions
     a training programme at International                  are going through a training programme
     Adecco University (page 19)                            at International Adecco University

     Society at large/social commitments
     Disability & Skills programme running in               Expand Disability & Skills programme into
     three countries. European network of                   15 major business units; Initiative with
     companies Business & Disability founded                Business & Disability and European Social
     (page 15)                                              Fund to improve the access for people with
                                                            disabilities to business, employment and
                                                            information technology

     Athletes Career Programme running in                   Launch Athletes Career Programme in ten
     seven countries (page 45)                              additional countries

     Several Adecco Foundations and pro-                    Create a coordinative network amongst
     grammes within business units supporting               the Adecco Foundations and business
     disadvantaged groups access labour                     units, which run work integration pro-
     market (pages 12–13)                                   grammes.Centralise internationally the
                                                            knowledge management on mobilising
                                                            under-represented groups into jobs (SO1;
                                                            page 43)

                                                            Evaluation of mid- and long-term meas-
                                                            ures on how to support South Asia in over-
                                                            coming the tsunami disaster

     Investors (SRI)
     Adecco S.A. is a constituent of FTSE4Good              – Stay constituent of the FTSE4Good
     Europe and Global                                        Europe and Global indexes
                                                            – Become constituent of DJSI World and

     Increased scores since previous assess-                Increase our scores in both ratings by
     ments in both the DJSI Assessment 2004                 5–10%
     and SiRi Global Profile 2004 (page 8)

     Creation of an environmental policy (GRI               Evaluation of first steps towards environ-
     3.7, page 33)                                          mental impact management.

     * partially covered in this report; full coverage in “Sustainability Update 2004” to be published second
       semester 2005

Objectives/activities by end of 2004*          Outlook for 2005

2. Business ethics and compliance
Global Compact (GC) participation
Top 15 business units participating in         50% of all the Adecco Group’s countries
the GC (GRI 3.14, page 34)                     participating in the GC

Business units’ trainers on GC principles      Include the ten principles of the GC into
trained (page 21)                              regular Colleague training modules

Development of a revised, more compre-         Launch of the new Code of Conduct and
hensive Code of Conduct                        corresponding training measures to all
                                               levels of our Colleagues worldwide

Internally audited SOX compliance for all      Test SOX compliance and reach maturity
business units                                 for SOX certification by external auditors

3. To monitor our progress

Performance indicators
First corporate sustainability survey based    Define a set of corporate sustainability
on GRI performance indicators in context       performance indicators (i.e. a selection
of Sustainability Report 2003/04 prepara-      of GRI performance indicators), which
tion                                           we shall review and report about on an
                                               annual basis

Colleagues’ satisfaction
Several, but different types of                The Adecco Group-wide Colleagues’
Colleagues’ satisfaction survey within         satisfaction survey through Great Place
various business units                         to Work Institute, Inc.

4. To be transparent about our sustainability performance

Corporate sustainability reporting
Preparation of first corporate Sustainabil-    – Publishing of Sustainability Report
ity Report 2003/04, covering the full year       2003/04 (February 2005)
2003 and major developments in 2004            – Publishing Sustainability Update 2004 cov-
(page 3)                                         ering the full year 2004 (second half 2005)
                                               – Preparing Sustainability Report 2005
                                                 (to be published in 2006), start of regular
                                                 annual sustainability reporting

Business units’ sustainability reporting       – CSR Report 2004 Adecco France
First CSR Report by Adecco France pub-         – First CSR/Sustainability Reports of at
lished, covering full year 2003                  least two additional major business units

The outlook above is based on the four strategic points to improve our sustainable
development (page 9) and gives an insight in our corresponding action plan.
However, due to confidentiality issues, it does of course not reflect the complete mid-term
planning of the Adecco Group, but indicates some key initiatives on sustainability.

Introduction to the GRI
     The Global Reporting Initiative (GRI) is an independent institution
     whose mission is to develop and disseminate globally applicable
     Sustainability Reporting Guidelines The GRI seeks to elevate sustainability
     reporting to the same level of rigour, comparability, credibility and verifiability
                                          expected of financial reporting, while serving the
       «The Global Compact and            information needs of a broad array of stakeholders
       the Global Reporting Initia-       from civil society, government labour and the
       tive work hand in hand –           private business community itself. Strong links exist
       the Compact as a value-            between GRI and initiatives such as the United
       based platform for respon-         Nations Global Compact, the OECD Guidelines for
       sible corporate citizenship,       Multinational Enterprises and many others.
       and the Global Reporting
       Initiative as a model for          The GRI Guidelines present a series of reporting
       public accountability.»            principles, which are the foundation of credible
                                          reporting. The application of these principles for
       Kofi Annan, Secretary General, The
       United Nations, February 2004
                                          this report is presented on page 3.
                                          The Guidelines provide also a set of performance
     indicators, which represent the spine of a sustainability report. In the following, this
     report responds to each GRI “core indicator” by either reporting on it or explaining
     its omission, and covers also some of the GRI’s “additional indicators”.

     GRI Content Index

     GRI Elements

     1.1 to 2.9                  Vision and Strategy, Profile of the Adecco Group            28

     2.10 to 2.22                Profile of the Sustainability Report 2003/04                30

     3.1 to 3.20                 Governance Structure and Management Systems                 32

     GRI Indicators

     EC1–EC10, EN1–EN16          Economic Indicators, Environmental Indicators               38

     LA1–LA17                    Labour Practices                                            40

     HR1–HR8                     Human Rights                                                42

     SO1–SO6                     Society                                                     43

     PR1–PR3                     Product Responsiblity                                       47

     GRI Elements 1.1 to 2.9
         Vision and Strategy
         1.1 Statement of the Adecco Group’s vision and strategy regarding its contribution to sustainable development:
         see page 9.

         1.2 Statement from the CEO
         see page 7.

         Profile of the Adecco Group
         2.1 Name of the reporting organisation: Adecco S.A.

         2.2–2.4 Operational structure, divisions and brands, major products and services
         described on page 6.

         2.5 Countries in which the Adecco Group operates
         The Adecco Group’s principal corporate office is the office of its management company Adecco Manage-
         ment & Consulting S.A. at Sägereistrasse 10, Glattbrugg, Switzerland.

         The Adecco Group has over 5,800 offices across the following countries and territories:
         Europe                 Austria, Belgium, Croatia, Czech Republic, Denmark, Finland, France, Germany,
                                Greece, Hungary, Ireland, Italy, Luxembourg, Monaco, The Netherlands, Norway,
                                Poland, Portugal, Romania, Russia, Slovenia, Spain, Sweden, Switzerland, Turkey
                                and United Kingdom
         North America          Canada, USA
         Asia Pacific           Australia, China, Hong Kong, Indonesia, India (as of September 2004), Japan,
                                Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan and Thailand
         Latin America          Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic,
                                Ecuador, Guatemala, Mexico, Panama, Peru, Puerto Rico, Uruguay and Venezuela
         Africa and Middle East Israel, Morocco, South Africa and Tunisia

         A full list of major consolidated subsidiaries can be found in our Annual Report 2003, Financial Review
         and Corporate Governance, pages 49–51 (downloadable on the Internet:

         2.6 Nature of ownership; legal form
         Adecco S.A. is a company limited by shares (société anonyme) organised under the laws of Switzerland,
         with its registered office at Chéserex, Switzerland. Adecco S.A. is listed at the SWX Swiss Exchange (shares
         ADEN / trading on Virt-x: 1213860), at the New York Stock Exchange NYSE (ADRs ADO) and at Euronext
         Premier Marché (shares 12819).
         As of December 31, 2003, the amount of 34,188,580 shares or 18.3% of the issued shares were held by
         Akila Finance S.A., Luxembourg, which is owned and controlled by Philippe Foriel-Destezet. No change
         in the shareholding of Akila Finance S.A. has been reported to Adecco S.A. in the year under review. As of
         December 31, 2003, the amount of 21,957,710 Adecco S.A. shares or 11.7% of the issued shares were held
         by KJ Jacobs AG, Zurich, Switzerland. Beneficial owners of the shares held by KJ Jacobs AG are the charit-
         able foundation “Jacobs Stiftung” (Zurich) and an association named “Jacobs Familienrat”.

         Adecco S.A. is not aware that as of December 31, 2003, any person or entity other than those stated above
         owned more than 5% of Adecco S.A.’s shares.

         Further information on Adecco’s ownership and capital structure is published in the Annual Report 2003,
         Financial Review and Corporate Governance, pages 53–56 (Internet:

         2.7 Nature of markets served
         described on page 6.

         2.8 Scale of the Adecco Group
         (For further and more detailed information see the Annual Report 2003, Financial Review and Corporate
         Governance 2003.)

         Number of employees: see LA1, Breakdown of workforce, page 40.

            Selected Financial Highlights (EC1)
            EUR millions, except share and per share amounts or otherwise indicated    28. 12. 2003         29. 12. 2002

The Adecco Statements of Operations Data
     Group Net service revenues                                                              16,250               17,098
           Operating income before
           amortisation of intangibles 1                                                         514                 451
           Operating income                                                                      505                 446
           Net income                                                                            305                 242

            Per Share Data
            Net income per share                                        Basic                 1.63                 1.30
                                                                      Diluted                 1.61                 1.28
            Net income per share 2                                      Basic                 1.65                 1.30
                                                                      Diluted                 1.62                 1.28
            Cash dividends per share (CHF)                                                    0.70                 0.60
            Weighted average shares                                                    186,744,214          186,527,178
            Diluted shares                                                             195,777,267          193,469,123

            Balance Sheet Data
            Trade accounts receivable, net                                                     2,955               2,906
            Goodwill                                                                           1,284               1,462
            Accounts payable and accrued expenses                                              2,774               2,815
            Net debt (incl. off balance and sheet financing)                                     918               1,409
            Shareholders’ equity                                                               1,547               1,339

            Cash     Flow Data
            Cash     flows from operating activities                                             455                 445
            Cash     flows used in investing activities                                        (440)               (182)
            Cash     flows from / (used in) financing activities                                 365               (398)
            Cash     paid for income taxes (EC8)                                                 134                 166

Adecco S.A. Statements of Operations Data                                              31. 12. 2003         31. 12. 2002
  (Holding Net income for the year                                                            1,081                  298
 Company) Retained earnings, beginning of year (EC7)                                          1,544                1,433
            Dividend distribution (EC6)                                                       (112)                (187)
            Retained earnings, end of year (EC7)                                       CHF 2,513            CHF 1,544

            1   Operating income before amortisation is a non-U.S. GAAP (Generally Accepted Accounting Principles in
                the United States) caption used by management as supplementary information.
            2   Before cumulative effect of change in accounting principles

            Revenue distribution of services offered in 2003
            Adecco Staffing Division                                             89%
            Ajilon Professional Division                                         10%
            Lee Hecht Harrison Career Services Division                           1%

            Geographical distribution of revenues in 2003
                                                       Adecco Staffing           Ajilon Professional   Lee Hecht Harrison
            Europe                                     65%                       49%                   14%
            North America                              21%                       44%                   79%
            Asia Pacific                               11%                        7%                    7%
            Latin America (and Middle East & Africa)    3%

            2.9 List of stakeholders, key attributes of each, and relationship to the Adecco Group
            described on page 10–11.

     GRI Elements 2.10 to 2.22
         Profile of the Sustainability Report 2003/04                        This publication reports the
         sustainability status and performance of the Adecco Group. It is based on Global Reporting Initiative
         (GRI) Guidelines. For a detailed example of Adecco’s CSR at country level for 2003, please refer to Adecco
         France’s CSR Report, available on the Internet at Adecco France is the Adecco Group’s
         largest subsidiary and part of Adecco Staffing Division.

         2.10 Contact people for the report
         – Overall responsibility:     Gonzalo Fernández-Castro, Chief Marketing and Communications Officer
                                       Enrique de la Rubia, Chief CSR Officer
         – Concept and realisation:    Johannes Bartels, Corporate Director for CSR
                                       E-mail: or Internet
         – For the CSR Report 2003     Jean-François Connan, Département Responsabilité Sociale de l’Entreprise
           of Adecco France:           E-mail: or Internet:

         2.11 Reporting period
         The official reporting period is the fiscal year ( January–December) 2003 . However, this report also cov-
         ers important developments within the first three quarters of 2004; such information is clearly marked.

         2.12 Date of most recent previous report
         This is the Adecco Group’s first Sustainability Report.

         2.13 Boundaries of the report
         This report has been prepared following the 2002 GRI Guidelines. In line with the Adecco Group’s core business,
         this report focuses on social and economic performance indicators. We are aware that there are opportuni-
         ties for improvement, for instance by including more GRI performance indicators and, more importantly, by
         reporting within each GRI indicator in a more detailed and comprehensive way. We see this document as a
         start and we aim to continuously improve the quality of our Sustainability Reports.

         The boundaries of this report are as follows:
         a) Where possible, we provide information and data for the whole Adecco Group, which consists of 176
         major operating subsidiaries in 70 territories all over the world.
         b) However, for this first report it was not pratical to collect and consolidate data from all our subsidiaries.
         Instead, we collected data from our 15 largest subsidiaries, in terms of their volume of people. These
         subsidiaries represent 73% of the Adecco Group’s Colleagues and about 83% of the Adecco Group’s total
         number of Associates. The subsidiaries include the following:
         Europe              Adecco Belgium, Adecco France, Adecco Germany, Adecco Italy, Adecco Netherlands,
                             Adecco Spain, Adecco UK, Adia France, Ajilon Office Angels UK
         North America       Adecco Canada, Adecco USA
         Latin America       Adecco Argentina, Adecco Mexico
         Asia Pacific        Adecco Australia, Adecco Japan

         However, for some performance indicators some subsidiaries could not deliver the exact data
         (due to different definitions and classifications used). Where necessary, we indicate how representative
         our figures are.

         2.14–2.16 Remarks and explanations on comparability with earlier Sustainability Reports
         Not applicable since this is the Adecco Group’s first Sustainability Report.

2.17 Decisions not to apply GRI principles or protocols in the preparation of the report
There were no decisions not to apply any of the GRI principles. However, we consider these principles
as goals toward which we want to strive, although in some cases we have been unable to fully apply them
in this first report. For our sector, HR services, no specific GRI protocols are available, which could have
been used as very specific guidelines.

2.18 Criteria/definitions used in accounting for economic, environmental
and social costs and benefits
Necessary explanations regarding the criteria and definitions used are mentioned wherever necessary.

2.19 Significant changes from previous years in the measurement methods
Not applicable since this report is the Adecco Group’s first.

2.20 Policies and practices to enhance the accuracy, completeness and reliability of the report
Data for the report were collected from the Adecco Group’s subsidiaries, consolidated and checked at
the Group level. Economic data have been copied from the audited Annual Report 2003. In case of any
divergence, the figures as published in the English version of the Annual Report are true.
In the preparation of this report, we paid attention to the GRI principles as described in “About this
report”on page 3.
As part of our process to enhance our reporting practice, we asked DNV (Det Norske Veritas), a leading
international independent verification body to review a final draft of this report. DNV looked at the
report’s quality, i.e. clarity, completeness, relevance, structure and general compliance with the GRI
Guidelines. DNV’s review did not cover accuracy or reliability of the information provided in this report.
As direct consequence of DNV’s feedback (downloadable on we included concrete
performance figures in “Our work to date” (pages 12–13), added the “Outlook” (page 24–25) and included
the arguments for omitting some of the GRI core indicators.

2.21 Independent assurance
Report figures related to economic indicators are sourced from our Annual Report 2003, which has
been audited by Ernst & Young Ltd. All information in this Sustainability Report is not audited by external

2.22 Additional information on sustainability matters
– Corporate governance: Annual Report 2003, Financial Review and Corporate Governance, pages 53–65
– CSR matters of the Adecco Group: Internet:
– CSR Report 2003 and further CSR matters of Adecco France
– Contact persons: see 2.10

     GRI Elements 3.1 to 3.10
         Governance Structure and Management Systems
         3.1 Governance structure of the organisation, including major committees
         Areas of responsibility of the Board of Directors and the Management are defined by law and by the
         Articles of Incorporation of Adecco S.A. (Internet:

         The Board of Directors operates under the direction of the Chairman who is appointed by the Board of
         Directors. The following Board Committees assist the Board of Directors (see also page 48):

         Reporting period (2003)                                         Since June 29, 2004
         Audit & Finance Committee                                       Audit Committee
         Nomination and Compensation Committee                           Nomination and Remuneration Committee
                                                                         Corporate Governance Committee

         The Board of Directors has delegated the day-to-day business to the Senior Management, except for
         specific items, such as acquisitions, long-term financial commitments, management structure, budget
         approval, compensation policy, corporate identity policy, guidelines and policy statements.

         Further information on the Board Committees’ responsibilities and the Adecco Group’s corporate gover-
         nance is published in the Annual Report 2003, Financial Review and Corporate Governance, pages 53–65

         3.2 Percentage of the board members that are independent, non-executive directors
         Reporting period (2003)                                         Result of elections of June 29, 2004
         9 (100%)                   Total number of board members                                    9 (100%)
         6 (66%)                           No. of non-executive board members*                                               9 (100%)
         3 (33%)                           No. of executive board members                                                       0 (0%)
         0 (0%)                            No. of board members being members                                                   0 (0%)
                                           of the Management of Adecco S.A.

         * Non-executive members have not been a member of the Management of the Adecco Group in the three financial years preceding
           fiscal year 2003 and do not have important business connections with Adecco S.A. or with any of the Adecco Group companies.

         3.3 Process for determining the expertise required of board members
         The Nomination and Compensation Committee (since June 29, 2004: Nomination and Remuneration
         Committee) is responsible for establishing principles for the selection of candidates for election or
         re-election to the Board of Directors of Adecco S.A.

         3.4 Board-level processes for overseeing the organisation’s identification and management
         of economic, environmental and social risks and opportunities
         The Board of Directors’ instruments of information and control towards the Management consist of
         the following main elements:
         – Management Information Systems which include the monthly reporting on performance, budget and
           the assessment of extraordinary events;
         – Internal Audit, reporting to the Chairman of the Audit Finance Committee, which includes regular
           reporting on risk management matters.
         In April 2003, the Adecco Group introduced a Whistle-Blower System for the receipt, retention and treatment of
         reports from employees regarding misconduct, such as suspected or potential violations of law, company policies
         or unethical conduct. It offers all employees of the Adecco Group the opportunity to report on an anonymous
         and confidential basis potential irregularities to the Audit & Finance Committee of the Board of Directors.

         3.5 Linkage between executive compensation and achievement of the organisation’s financial
         and non-financial goals
         The Adecco Group’s compensation philosophy is based on pay for performance. Accordingly, individual
         and business unit contributions to the Adecco Group’s success are overriding considerations. The Adecco
         Group’s compensation programmes are designed to attract, retain, motivate and reward employees
         to achieve the Adecco Group’s financial and strategic objectives while ensuring that the total compensa-
         tion opportunity is internally equitable and externally competitive. The Adecco Group’s compensation
         programme for Senior Management includes the following five key components:
         – Base Salary
         – Short-Term Incentive (Bonus)
         – Long-Term Incentive (Stock Option Programme)
         – Fringe Benefits and Social Charges
         – Transitional Arrangements (special conditions for assignments abroad)
         Further information on compensation, shareholdings and loans is published in the Annual Report 2003,
         Financial Review and Corporate Governance, pages 61–62 (Internet:

3.6 Organisational structure and key individuals responsible for oversight, implementation,
and audit of economic, environmental, social, and related policies
– The Chief of Internal Audit, with a team of specialists, is responsible for the audit and risk management
  (see also 3.13).
– In January 2003, the Adecco Group created the function of a Chief CSR Officer for sustainable
  development with a special focus on social (and environmental) commitments. As of June 2004 a CSR
  team of five directors assists the Chief CSR Officer.
– In January 2004, the Adecco Group established a dedicated “SOX” project team in order to make Adecco
  S.A. compliant with section 404 of the U.S. Sarbanes-Oxley Act in all countries and business divisions
  by the end of 2004.
– In September 2004, a Group Chief Compliance & Business Ethics Officer was appointed to be respon-
  sible for ensuring legislative and regulatory compliance as well as creating an environment of integrity
  and respected business ethics.
– Adecco France is our first subsidiary to create its own CSR department. This was created in 2003 and
  consists of two full-time positions co-operating closely with the corporate CSR department.
– Adecco Spain and Belgium have both named a CSR Director.

See also list on page 48.

3.7 Mission and values statements, internally developed codes of conduct or principles,
and polices relevant to economic, environmental and social performance
As of year end 2003, the following CSR codes and policies were in place: corporate values, code of
conduct and guiding principles, equal opportunities, conflict of interest and insider trading. The code of
conduct and the guiding principles do not allow unlawful or unethical behaviour such as bribery and
anti-competitive practices.
In accordance with section 406 of the Sarbanes-Oxley Act of 2002, on April 15, 2004, the Audit Finance
Committee adopted a Code of Ethics that applies to the Chief Executive Officer, Chief Financial Officer
and other senior financial officers.
An environmental policy was adopted by the Board of Directors on September 6, 2004.

3.8 Mechanisms for shareholders to provide recommendations or direction to the Board of Directors
The shareholders’ rights are published in the Annual Report 2003, Financial Review and Corporate
Governance, pages 62–64 (Internet:
Adecco S.A.’s Investor Relations department publishes its contact details and relevant publications
such as Half Year and Annual Reports. There is also an information request and contact opportunity on
the Investor Relations section of our website ( These facilities allow all shareholders
to approach Adecco S.A. and to express their wishes and their views.
As of end of 2003, a shareholder holding more than 5% was registered as “shareholder without voting
right” for the shares exceeding such 5%. Upon the Board of Directors’ proposal, the Annual General
Assembly of June 29, 2004 abolished this restriction, following the principle “one share one vote”.

3.9 Basis for identification and selection of major stakeholders
The basis for identification of our major stakeholders is a triple question:
1) Who is directly enabling our business to operate? (Our Colleagues, our investors and our suppliers)
2) Who is directly served by our business? (Our Associates and our Clients)
3) Who is indirectly enabling our business to operate, served or affected by our business?
   (Society at large and the environment)

3.10 Approaches to stakeholder consultation
Stakeholder consultation is mostly done by the business units on country level. Such consultations
address mainly the Associates, Clients and Colleagues, be it through self-completion questionnaires
or interviews (mostly for Associates and Colleagues) or regular feedback processes (mostly Clients).
Special mention goes to Adecco France’s research institute “Lab’Ho” ( which researches on
relationships between people and organisations in the labour market.
On an international level, the Investor Relations department cares about contacts to investors and
analysts and a Chief Public Affairs Officer seeks personal dialogues with representatives of the society
at large, i.e. governmental and non-governmental organisations.

     GRI Elements 3.11 to 3.15
         3.11 Type of information resulting from stakeholder engagements
         The information we seek is rather qualitative and corresponds to questions such as: What are today,
         what can be tomorrow our stakeholders’ needs? What are their priorities, what keeps them awake at night?
         What should be our service offer to best answer their needs?

         3.12 Use of information generated by stakeholder consultations
         We use such information for improvement of our services, in most cases on a local level, but occasionally
         also on a global level. The internationally launched Service Guarantees programme consisting of six
         commitments for each, Associates, Clients and Colleagues, is a remarkable example how stakeholder
         consultation has impacted our corporate strategy, see page 23.

         3.13 Explanation of whether and how the precautionary approach or principle is addressed
         by the organisation
         The precautionary approach is addressed by the Adecco Group’s Internal Audit department. Its function
         is to assist the Group in managing operational business risks by providing the Audit Committee and Senior
         Management with reasonable assurance about the integrity of critical business processes, the effective-
         ness and efficiency of operations and the compliance with laws and regulations. – See also 3.6.

         3.14 Externally developed, voluntary charters and sets of principles which the organisation endorses
         In November 2003, the Adecco Group became the first global HR company to be a participant in the
         Global Compact. By the end of 2004 the following national business units joined in the Global Compact:
         Adecco France, Italy, Spain, UK, Portugal, Germany, Netherlands, Belgium, Austria, Norway, Sweden,
         Finland, Denmark, Australia, Japan, Canada and USA and Adia France. See “Participating in the Global
         Compact”, page 21.

         3.15 Principal memberships in industry and business associations
         The Adecco Group is a Member of CIETT, the International Confederation of Temporary Work Businesses.
         It brings together the national federations of employment businesses – businesses which supply workers
         for temporary assignments on their clients’ premises – of thirty countries and six of the largest companies
         worldwide. Internet:

         The Adecco Group is a founding member of Business & Disability (founded in December 2004), a net-
         work of European companies involved with helping handicapped people have greater access to the
         labour market, the Internet and society at large. Internet:

         Listed on the next page are some of the principal associations and initiatives that the Adecco Group
         participates in.

               Subsidiary               Memberships

      Europe Adecco Belgium            – PMC (Personnel Managers Club), an association offering an open forum for
                                         everyone who is professionally involved in personnel policy
               Adecco France           – Institut du Mécénat de Solidarité, a club of over 100 of France’s top companies
                                         committed to improving their positive impact on society
                                       – SETT (Syndicat des entreprises de travail temporaire), the national federation
                                         of temporary work firms, including all the boards dedicated to the social
                                         programme of the SETT on which management and unions are equally repre-
                                         sented, such as FAS, FAF, IREPS, etc.
                                       – The “Emploi et Insertion” branches are members of the Conseil National des
                                         Entreprises d’Insertion, a federation of enterprises working on labour integration
                                         for low-skilled and unemployed people (an indirect partnership)
                                       – Jeunesse et Entreprises, an association working on bridging the gap between
                                         enterprise and national education in order to facilitate the integration of young
                                         people in the labour market (
                                       – Club Etre, a national network of enterprises for disabled people
                                       – Forum français des amis du Global Compact, the national point of contact of
                                         the Global Compact in France
                                       – FACE (Fondation Agir Contre les Exclusions), a network of enterprises, institutional
                                         actors and pressure groups with the aim of preventing and fighting exclusion
                                       – The Adecco Foundation is a member of Admical, the national network of the
                                         French foundations
               Adecco Found. France – Admical, the national network of the French foundations
               Adia France             – SETT (explanation see above under Adecco France)
               Adecco Italy            – APLA, a national association of staffing companies
               Adecco Netherlands      – ABU, the biggest national federation of staffing companies
                                       – NCD, Dutch Centre of executive and non-executive directors
               Adecco Spain            – AGETT, association of the biggest staffing companies in Spain
                                       – CEOE, Spanish Confederation of Business Organizations
                                       – CEA, Andalusian Confederation of Business People
                                       – CEIM, Madrid Confederation of Business People
                                       – CAMBRA, Chamber of Commerce of Barcelona
                                       – Spanish-French Chamber of Commerce
                                       – Patron of IESE (Business School of the University of Navarra)
               Adecco Found. Spain     – Foro Soria, a non-profit organisation for sustainable development
               Adecco UK               – “Business in the Community” a movement of over 700 of the UK’s top compa-
                                         nies committed to improving their positive impact on society
                                       – RfO, Race for Opportunity, a national business network working on race and
                                         diversity as a business agenda
                                       – Employers Forum on Disability, the employers’ organisation focused on the
                                         issue of disability in the workplace
                                       – TEAN ( Third Age Employment Network), a network to ensure better opportunities
                                         for mature people to work, earn and learn; leading campaigner on all matters
                                         related to age and employment.
                                       – Various local chambers of commerce
               Ajilon Office Angels UK – RfO (explanation see above under Adecco UK)

North America Adecco Canada             – HRPAO, Human Resources and Professionals Association of Ontario
                                        – OCRIQ (Ordre des conseillers en relations industrielles du Québec), an organi-
                                          sation to promote the strategic role of HR and industrialrelations professionals
                                          in the successes of organisations in Québec
                                        – ACSESS, Association of Canadian Search, Employment and Staffing Services
               Adecco USA               – ASA, American Staffing Association
                                        – SHRM, Society for Human Resource Management
                                        – SIA, Staffing Industry Analysts
                                        – The Corporate Leadership Council

Latin America Adecco Argentina          –   CCIFA, the French-Argentinian Chamber of Commerce & Industry
                                        –   AMCHAM, the American Chamber of Commerce
                                        –   CECRA, the Spanish Chamber of Commerce
                                        –   CCSA, the Swiss-Argentinian Chamber of Commerce
                                        –   CCI, the Italian Chamber of Commerce
               Adecco Mexico            –   AMECH, an Mexican association of staffing companies

  Asia Pacific Adecco Australia         – RCSA, Recruitment and Consulting Services Association
                                        – Australian Industry Group, a non-profit association to assist Australian
                                          industry to become more competitive on a domestic and international level
               Adecco Japan             – Japan Staffing Services Association

     GRI Elements 3.16 to 3.20
         3.16 Policies and/or systems for managing upstream and downstream impacts
         The upstream impacts of HR services are a very large and complex field. We have therefore decided that it
         is not appropriate to cover it within this report.
         The major aspects of downstream impacts of staffing services are what actually happens after a Candidate
         has been placed into a job, in particular whether the employer is satisfied with the Associates’ perform-
         ance, whether the Associate is satisfied with the workplace, and whether the Associate contributes to the
         social fabric of the workforce and its culture.
         The Adecco Group’s approach to these aspects is based on our People, Bricks and Clicks concept which
         combines human and technological resources to ensure the highest possible levels of service, speed and
         With People and Bricks, Adecco’s strategy is to work through a decentralised network of small branches.
         We believe that only direct, personal contact to Clients and Candidates can enable to perfectly match the
         right Candidates to the right Clients.
         Clicks enable Clients and Candidates to interact with Adecco quickly and easily through online commu-
         nication. Its Xpert “Can do, Will do, Will fit” methodology gives online capability to administer assessments
         and training sessions to applicants anywhere via the Web.
         AdeccoClub, a Web-based staffing solution that automates transactions between Clients and the Adecco
         Group, was successfully implemented with more than 1,500 Clients in the USA by the end of 2003. Using
         this tool, Clients place orders, approve Associates’ time, and view invoices and access reports. Automated
         Client satisfaction surveys ensure up-to-date feedback is used to drive customer service enhancements.
         See also 3.19, below.

         3.17 Management of indirect impacts
         Work drives the local and global economies and is finally a key factor for the well-being of society
         at large. Therefore we think that our most important indirect impact is our impact on communities.
         See SO1, pages 43–45.

         3.18 Major decisions and developments during the reporting period
         – In 2003, the Board of Directors decided to review strategic alternatives for jobpilot after recognising that
           a job site was more suited to an interactive company than to the Adecco Group’s core staffing business.
           The company developed AdeccoWeb, its online recruitment and placement capability, as an integrated
           part of its staffing business. On April 23, 2004 the Adecco Group sold its holding in jobpilot AG to a
           subsidiary of Monster Worldwide Inc. for a sales price of EUR 88 million. The sales price was paid partly
           in cash amounting to EUR 64 million and partly by the issuance of one million shares of Monster stock,
           which had a fair value on the date of sale of EUR 24 million. The sale resulted in an income from discon-
           tinued operations of EUR 30 million, after deducting transaction costs and the loss for the four months
           ending April 2004 of EUR 1 million.
         – Other developments are mentioned in the statement from the CEO on page 7.

         3.19 Programmes and procedures pertaining to economic and social performance
         a) Economic:
         – Training. See LA16 & LA17 page 41 as well as pages 19–20.
         – IT Tools. The central online Client Relationship Management System helps any sales agent, from branch
           level up to global account managers, manage the information related to the Adecco Group’s Clients
           worldwide. This includes information regarding the sales process such as meetings, agreements and
           sales development.
           The AdeccoWeb platform increases the speed and reach of Candidate or assignment searches. It is
           based upon a central database, accessible via the Web by Colleagues, Clients and Candidates at various
           levels. In 2003, a considerable proportion of contracts were made with Candidates exchanged between
           branches via the Internet, amounting to 28% in Spain, 17% in Italy and 11% in France. In Italy, over
           5% of Associate contracts derived from Candidates originating via the Internet.
         – Incentives. (a) Short-Term Incentive: Through the bonus system managers can maximise their short-
           term earning potential. Through increasing the Adecco Group’s profits and growth can managers
           maximise earning potential and therefore earn substantially more than their base compensation.
           (b) Long-Term Incentive: Stock options are considered the long-term element to maintaining loyalty
           over an extended period. In addition, they encourage plan participants to increase shareholder value.
         – Permanent performance monitoring. Weekly reports cover for each subsidiary of each division the
           exact number of Clients served and Associates placed in comparison to last year’s figures. Since staffing
           services is a cyclical business, these reports allow the Adecco Group to discover any downturns within
           days and to react immediately.
           In quarterly General Executive Managers Meetings (Senior Management with executives of the major
           subsidiaries), past successes and problems are reviewed and future business development discussed.
         – Chairman’s Award. The annual Chairman’s Award recognises Colleagues who deliver outstanding
           performance, show extraordinary commitment to corporate values and actively commit themselves
           with their communities.

b) Social:
– Public interest Adecco Foundations and social commitments: see pages 12–15.
– Focus on non-discrimination: see pages 16–17 and 21.
– On the occasion of the EYPD2003 (European Year for People with Disabilities), for the first time the
  CEO included “place people with disabilities into labour market” on the country managers’ bonus-
  effective objectives. For the report about the Adecco Group’s EYPD2003 commitment: see page 14.
– Chairman’s Award: see above, last point under “Economic”.

3.20 Status of certification pertaining to economic environmental, and social management systems

Subsidiary              Certifications

Adecco France           – 21 branches CEFRI certified for their ability to assure the appropriate qualifica-
                          tion and coaching of Associates on assignment at nuclear sites. This includes
                          the recruitment, medial checks, training on risk prevention, the individual
                          monitoring of exposure and the relationship with the nuclear client company.
                        – 5 branches MASE certified for their ability to assure the appropriate qualifica-
                          tion and coaching of Associates on assignment at chemical and petroleum
                          sites. This includes the recruitment, medial checks, training on risk prevention,
                          the individual monitoring of exposure and the relationship with the chemical
                          and petroleum client company.
Adia France             – 24 branches CEFRI certified (explanation above under Adecco France)
                        – 4 branches MASE certified (explanation above under Adecco France)
Adecco Netherlands      – SCT (in Dutch: VCU) certified for its safety management system, executed in
                          compliance with the requirements of the Safety Checklist for Temporary
                          Employment Agencies (“SCT”), a derivate of SCC (Safety Contractors Checklist)
Adecco UK               – Accredited with the “Investor in People” standard, a national quality standard,
                          which sets a level of good practice for improving an organisation’s performance
                          through its people
                        – Approved Centre City & Guilds, the leading provider of vocational qualifica-
                          tions in the United Kingdom
                        – Accredited Centre NEBS Management by ILM, The Institute of Leadership &
                          Management (uniting ISM with NEBS Management).
Adecco Mexico           MEG:2003 certification by the National Women Institute for adopting its “Model
                        of the equality between men and women”
Adecco Australia        AS/NZS ISO9001:2000 All branches are certified for “Quality Management
                        System for the recruitment, evaluation and placement of temporary and perma-
                        nent staff at all levels in client enterprises”.
Adecco Japan            Accredited with “Privacy Mark”, a mark of confidence of privacy and personal
                        data protection, based on the Japan Industrial Standards concerning the
                        protection of personal data ( JIS Q 15001), granted by the Japan Information
                        Processing Development Corporation

ISO 9001:2000 certifications
The following 31 subsidiaries hold the ISO 9001:2000 certification. In total, they manage 79% of the
Adecco Group’s Associates:

Europe                  Adecco Austria, Belgium, Czech Republic, France, Germany, Ireland, Luxembourg,
                        Monaco, Netherlands, Norway, Spain, Sweden, Switzerland, United Kingdom;
                        Adia France; Ajilon France, Luxembourg and United Kingdom (Office Angels)

North America           Selected officies of Adecco USA; Ajilon USA (Ajilon Consulting and Ajilon

Latin America           Adecco Argentina, Bolivia, Chile, Ecuador, Peru, Puerto Rico and Uruguay

Asia Pacific            Adecco Australia, Malaysia and Icon Australia

     GRI Core Indicators EC1–EC10, EN1–EN16
         Economic Indicators
         EC1 Net sales and further key data
         See 2.8, page 29.

         EC2 Geographic breakdown of markets
         See 2.8, page 29.

         EC3–EC4 Suppliers
         Purchase of goods, materials and services does not have a direct relationship with our products and
         services. It would take remarkable efforts to consolidate and document here the supply costs and the
         conditions of the agreements with our suppliers. We may evaluate if we can start to report on these
         indicators in the future.

         EC5 Total payroll and benefits (EUR millions)
                                                                    2003                       2002
         Total Associates and Collegues                             14,900                     15,600

         EC6–EC8 Distributions to providers of capital retained earnings and taxes paid
         See 2.8, page 29.

         EC9 Subsidies received
         The table below gives an overview of some important cases where Adecco subsidiaries received subsidies.
         In all cases these subsidies are related to social work integration programmes. However, this table does
         certainly not include all types and all amounts of subsidies received across the whole Adecco Group.

         Purpose / Project                                                             Subsidies received (Euros)

         Adecco Foundation Belgium
         Programme for the integration or reintegration of undereducated
         young people into the labour market                                                   454,662

         Adecco France
         Project “Latitude”, subsidy from FSE
         (European Social Fund in France), see also page 16.                                   161,489
         Project “Latitude”, subsidy from FASILD (a national fund to
         implement and support measures for integration and for
         fighting discrimination)                                                              109,853
         Project “Latitude”, subsidy from the DPM (Directions des Populations
         et Migrations, a department of the Ministry of Work, employment
         and social cohesion)                                                                   30,500
         Labour integration for people with disabilities, a subsidy from
         Agefiph (the national federation for disabled workers integration)                    152,176
         Equality between women and men, subsidy from the SDFE
         (Ministry of women rights and equality)                                                13,668

         Adia France
         Adia’s “Eclor” programme, to teach the analphabetics amongst
         Adia’s Associates, with a focus on writing, counting, reading and
         career management; a subsidy from DGEFP (a department of the
         Ministry for Social Affairs, Employment and Solidarity)                                25,000
         Adia’s “Eclor” programme, a subsidy from AGEFOS
         (national fund to grant training for employees of SMEs)                               111,125
         Project “Latitude” (on non-discrimination, see page 16),
         a subsidy from ESF (European Social Fund)                                              34,934
         Project “Latitude”, a subsidy from FASILD (a national fund to
         implement and support measures for integration and to fight
         discrimination)                                                                        12,081

         Adecco Foundation Spain
         Several programmes to help disadvantaged people such as
         the disabled and (long-term) unemployed enter or re-enter
         the labour market                                                                     897,543

EC10 Donations to communities, civil society and other groups
The table below gives an overview of the most important donations by Adecco subsidiaries. However, this
table does not include all types and all amounts of donations given across the whole Adecco Group.

Subsidiary                Donations given                Recipient / Purpose / Project
                          Local currency     In Euros*

Adecco Belgium            EUR 194,000        194,000     Adecco Foundation Belgium, for its operating
Adecco France             EUR 305,000        305,000     Adecco Foundation France, for its operating
Adecco Italy              EUR 500,000        500,000     Adecco Foundation Italy, contribution to its
                                                         operating budget 2003
Adecco Netherlands        EUR 27,500          27,500     Johan Cruyff Foundation, for a project financed by
                                                         KLM and Adecco to help disabled top sports people
                                                         access the labour market
Adecco Spain              EUR 320,000        320,000     Adecco Foundation Spain, contribution to its
                                                         operating budget 2003
                          EUR 280,000        280,000     Adecco Foundation Spain, contribution to its
                                                         operating budget 2003 (mandatory donation)
                          EUR 18,000          18,000     IESE (business school), to finance research in
                                                         Human Resources subjects
                          EUR   6,000           6,000    “San Telmo” Foundation (a business school),
                                                         to finance research in human resources subjects
Ajilon Office Angels UK   GBP 18,500          26,919     NSPCC (a children charity), amount raised by
                                                         Office Angels’ employees

North America
Adecco Canada             CAD 25,000          15,810     CMHA, the Canadian Mental Health Association
Adecco USA                USD 216,223        193,518     Various charitable organisations across the USA
                                                         (too numerous to list here)

Latin America
Adecco Argentina          EUR   5,000           5,000    Asociación Mensajeros de la Paz, a foundation
                                                         to create functional houses for abandoned children
                          EUR   5,000           5,000    Fundación España, a foundation to support elderly
                                                         Spanish immigrants in need

Asia Pacific
Adecco Japan              JPY 500,000           3,834    NHK Symphony Orchestra, Tokyo

* Year 2003 average conversion rates used

Environmental Indicators
EN1–EN15 Materials; energy; water; biodiversity; emmissions, effluents and waste;
products and services
To date, the Adecco Group does not yet monitor the environmental performance indicators as listed in the GRI
Guidelines EN1–EN15. As a HR services provider, Adecco’s operations do have a relatively low environmental
impact, resulting from the consequences of running office-based businesses.

As a service sector company, we consider the use of paper (EN1) and energy (EN3–EN4) and greenhouse gas
emissions (EN8) as the most relevant environmental indicators to look at. We aim at evaluating if we can start
to report on these indicators in the future.

EN16 Compliance
The Adecco Group was not aware of any incidents of or fines for non-compliance with any applicable
international declarations/conventions/treaties and national, subnational, regional and local regulations
associated with environmental issues.

     GRI Core Indicators LA1–LA10, Additional Indicators (+) LA12, LA16 & LA17
         Labour Practices
         LA1 Breakdown of workforce and net employment creation segmented by region

         Colleagues:                                             Number of Colleagues                          Net employment
         Region                                                     2002               2003                    creation
         Europe                                                    18,621             18,017                          (604)
         North America                                              6,585              5,948                          (637)
         Latin America
         (and Middle East & Africa)                                  1,581                     1,412                    (169)
         Asia Pacific                                                2,816                     2,705                    (111)
         Total Adecco Group                                        29,603                    28,081                  (1,522)

         Associates:                                             Associates on assignment*                     Indirect net employ-
         Region                                                     2002                2003                   ment creation**
         Europe                                                   344,778             341,135                        (3,643)
         North America                                            135,934             139,140                          3,206
         Latin America
         (and Middle East & Africa)                                63,796                    60,224                   (3,573)
         Asia Pacific                                              60,361                    68,688                     8,327
         Total Adecco Group                                      604,870                   609,187                     4,317

           * Weekly average over the full year (rounded to full numbers)
          ** The net employment creation for Associates results from two factors: the number of vacancies at the Adecco Group’s client
             companies and the number of new jobs created through temporary placements. This view is shared by the European Employment
             Taskforce: “Temporary agency work can be an effective stepping stone for new entrants into the labour market and hence
             contribute to increased job creation, for example by facilitating recruitment instead of overtime.” (Report of the Employment
             Taskforce, Nov. 2003, page 29)

         LA2 Average turnover
         Associates: Staff turnover of the Adecco Group’s Associates, primarily temporary workers, is, by nature,
         very high. The lengths of temporary assignments vary from days up to many months.
         Colleagues: Average Colleague turnover is around 28%. This figure results from a survey of the Adecco
         Group’s 15 largest subsidiaries around the world (as listed above under 2.13, page 30), representing
         73% of the Adecco Group’s Colleagues.

           LA12 Employee benefits beyond those legally mandated
         Legally mandated benefits (such as contributions to health care, disability, maternity, education,
         vacation and retirement) vary from country to country as do the additional benefits Adecco provides.
         Additional benefits for Colleagues usually depend on position and years of service, whereas additional
         benefits for Associates are offered in the context of attraction and retention programmes. Most of
         the largest subsidiaries run such programmes offering several kinds of additional benefits such as free
         or discounted access to further training (see also LA9 and “Training for a better job” on pages 19–20),
         discount vouchers for shopping and travelling, and additional vacation days. Eligibility usually depends
         on the number of hours worked.

         LA3 Percentage of employees represented by independent trade unions or other bona fide employee
         representatives or the percentage of employees covered by collective bargaining agreements
         The Adecco Group does not collect data about the percentage of Colleagues or Associates who are trade
         union members.
         In several countries the Adecco Group Colleagues are represented by national works councils or enter-
         prise committees.
         On an international level, the Platform for Adecco Communication in Europe (PACE) was created in
         1999 for the promotion of communication and social dialogue between the management and Colleagues
         of the Adecco Group companies (and future companies) within the European Union (EU), the European
         Economic Area (EEA) and the European Free Trade Area (EFTA). As such, PACE represents about 64% of
         all the Adecco Group Colleagues. PACE meetings take place once a year. The trade union organisation
         Euro-FIET may attend with observers.
         The Adecco Group subsidiaries do respect collective bargaining agreements as well as freedom of
         association, however, there are no records kept of percentages of Associates represented by trade unions
         or covered by collective bargaining agreements.

LA4 Information, consultation and negotiation with employees over changes in the reporting
organisation’s operations (e.g., restructuring)
Besides the works councils (see page 40, LA3), the Adecco Group has the following internal communication
– Critical information is usually communicated personally through the relevant managers.
– The Intranet, “AdeccoGroupNet”, is accessible for all Adecco Group Colleagues and provides a large
  and comprehensive – but easy to navigate – database covering all areas of interest. Besides tools and
  document archives, it includes news, press clippings, presentations from General Executive Managers
  Meetings as well as a CEO homepage, an internal communication platform of the CEO.
– The electronic newsletter, the “CEO Messages”, is posted on the CEO homepage as well as distributed
  by e-mail through the business units to Colleagues. On special occasions CEO Video Messages are
  produced and distributed the same way.

LA5–LA6 Practices on recording and notification of occupational accidents and diseases;
description of formal joint health and safety committees
These practices and health and safety measures are under the responsibility of the national subsidiaries.
The definitions used to classify and record instances such as occupational accidents, injuries and lost
days are based on national standards, which vary significantly from country to country. To date, a common
corporate recording and notification system on health and safety issues is not in place.

LA7 Injuries, lost days, absentee rates and work-related fatalities
Since national records are based on different classifications, a corporate summary of injuries, lost days,
and absentee rates would result in misleading information. However, the definitions of work-related
fatalities are by nature similar, so we are able to provide the following rates:
Occupational accidents – including accidents on the way to and from work – are approximately at 0.077
per 1,000 Associates and 0.048 per 1,000 Colleagues. These rates are based on a survey of the Adecco
Group’s largest subsidiaries around the world, as mentioned in 2.13, page 30.

LA8 Policies or programmes (for the workplace and beyond) on HIV/AIDS
According to the recent “AIDS epidemic updates” by UNAIDS, a coalition of six United Nations agencies,
the region of sub-Saharan Africa is by far most affected by HIV/AIDS. Therefore, in this report, we only cover
Adecco’s subsidiaries in this region. In sub-Saharan Africa, the Adecco Group is operational in South Africa
and Nigeria; the relevant subsidiaries represent about 0.4% of the Adecco Group’s Colleagues and Associates,
who are mostly with Adecco South Africa, whereas Nigeria has only two relatively small Adecco branches.
Adecco South Africa has a policy in place, which does not allow any form of discrimination, including
any discrimination of employees with HIV/AIDS. As a prevention measure, Adecco makes relevant educa-
tional material available to its Colleagues as well as to its Associates (in collaboration with its Clients).

LA9 Average hours of training per year per employee
The Adecco Group subsidiaries invest many million Euros every year in training measures for both
Associates and Colleagues. A precise Group-wide definition how to count hours of training has not yet
been developed. The time invested in training includes mainly formal internal as well as external
training courses, individual online training at work as well as from home, and informal training on the
job. Some figures on Associates and Colleagues training is provided on pages 19–20. We are working
with our business units on common definitions, which will allow us to consolidate internationally the
efforts on training and shall include appropriate data in future sustainability reports.

  LA16 & LA17 Skills management and programmes to support
the continued employability of employees
Some of the most important programmes in place are described in “Training for a better job” on pages

LA10 Equal opportunity and non-discrimination (HR4)
The Adecco Group’s Code of Conduct includes an Equal Opportunity Policy, which states that the
Adecco Group and all of its operations are equal opportunity employers and that hiring and promoting
people must be based on individual ability and performance, with no regard for any non-work-related
factor. The Equal Opportunity Policy is published on the Internet:
The most important and comprehensive programmes on equal opportunities and preventing discrimina-
tion are reported on pages 16–17. Adecco’s service guarantees programme (rolled out in 2004) includes
explicitely the guarantee to recruit without discrimination; see page 23.
Apart from those prevention initiatives, the Adecco Group is committed to make the labour market
accessible for disadvantaged groups such as the disabled and single mothers. For an overview of such
commitments see pages 12–13.

     GRI Core Indicators LA11, HR1 (HR5–HR7)
         LA11 Composition of Senior Management and corporate governance bodies

         Governance body                                         Number                      %age of women               Nationalities
                                                                 of members                                              represented
         Board of Directors                                       9                           0%                          5
         Senior Management                                        5                           0%                          3
         Adecco Group’s management company                       69                          41%                         17*
         in Glattbrugg, Switzerland

         * Strongest represented nationality: Swiss citizens (35%)

         Senior Executives: 22% of the Adecco Group’s subsidiaries are managed by female executives;
         broken down by region as follows:

         Region:                                                                                        Percentage of subsidiaries
                                                                                                        managed by female executives
         Whole Adecco Group                                                                                         22%
         Europe                                                                                                     15%
         North America                                                                                              11%
         Latin America                                                                                              19%
         Africa & Middle East                                                                                       40%
         Asia Pacific                                                                                               42%

         Branch managers: Approximately 56%* of the Adecco Group’s branches are managed by female branch managers.
         Total workforce: About 70%* of the Adecco Group’s 28,000 Colleagues are female.
         * Approximate value based on a survey of some of the biggest business units, representing almost 50% of the Adecco Group’s total workforce

         Human Rights
         HR1 (HR5–HR7) Description of policies and procedures to deal with all aspects of
         human rights including monitoring mechanisms and results
         To date, the Adecco Group does not have a separate human rights policy. Paragraph 1 of the Adecco Group’s
         Guiding Principles states that we conduct business in full compliance with all laws and regulations, including
         those relating to human rights. The Adecco Group also joined the Global Compact which endorses human
         rights as well as ILO labour standards including freedom of association (HR5), abolition of child labour
         (HR6) and elimination of forced or compulsory labour (HR7). A revised and more comprehensive corporate
         Code of Conduct is in preparation, which will give appropriate attention to the human rights.

         Monitoring and results:
         In most countries and territories where the Adecco Group operates, human rights are generally accepted
         and respected in both national law and general business practices. However, we do have a few subsidiaries
         operating in some so-called “countries of concern” as follows:
         – The list of 27 “countries of particular concern” adopted in March 2003 by the FTSE4Good Advisory
           Committee bases on the Freedom House list (Internet: amended in light of fur-
           ther information including the annual reports from Human Rights Watch and Amnesty International.
           This list includes three countries, where the Adecco Group is operational: China, Colombia and Tunisia.
           The subsidiaries in these countries represent about 1.1% of the Adecco Group’s Colleagues and Associates.
         – The “Geography of Corporate Risk” (Internet: by Amnesty International and
           The Prince of Wales International Business Leaders Forum depicts, amongst other criteria, where work-
           related human rights abuses and violations exist, such as denial of freedom of assembly and associa-
           tion, forced labour, child labour, forced child labour, and bonded child labour. The relevant countries
           where the Adecco Group has operations include: Brazil, China, India, Indonesia, Mexico, Nigeria,
           Philippines, Russian Federation and Turkey. The subsidiaries in these countries represent about 3.6% of
           the Adecco Group’s Colleagues and Associates.

         To date (reporting period till publishing date of this report), the Adecco Group has not been faced by any
         accusations of human rights abuses or violations, nor have there been any media articles of this nature
         available at the Business & Human Rights Resource Centre.*
         The Adecco Group is aware that “no reports” and “no accusations” is logically not equivalent with “no cases”
         and “no risks” and therefore aims at making further progress in ensuring compliance with human rights. Our
         view is that the further our business expands in the world the broader is our sphere of influence to help
         expand respect for human rights.

         * An independent non-profit organisation working in partnership with Amnesty International sections and leading academic
           institutions, whose advisory network is chaired by Mary Robinson, former UN High Commissioner for Human Rights. Internet:

 GRI Core Indicators HR4, SO1, Additional Indicator(+) HR8
        HR4 Description of global policy and procedures and programmes preventing
        all forms of discrimination
        In the case of an HR services provider the subjects of equal opportunities and non-discrimination
        are very close together. Therefore see LA10, page 41, as well as the description of relevant programmes
        on pages 16–17; 21 and 23.

          HR8 Employee training on policies and practices concerning
        all aspects of human rights relevant to operations
        In addition to providing training for Colleagues on human rights laws and regulations, we also provide
        training on non-discrimination subjects (see LA10, page 41). In 2003, a decision was taken to create a set
        of CSR training modules to be incorporated into the corporate Adecco University concept to ensure
        that as many Colleagues as possible receive the training on human rights issues relevant to daily business
        activities. The International Labour Organisation (ILO) has been approached to support the Adecco
        Group in establishing this comprehensive training concept. See page 19.

        SO1 Managing impacts on communities
        The Adecco Group’s position in the employment industry makes it ideally placed to assist communities
        in making work accessible for everybody – including the disadvantaged.

        In this context (and as explained on pages 12–13), the Adecco Group created foundations and initiated
        programmes focused on helping the following key five groups access the labour market: the disabled,
        older people (over 40 years), primary carers (mostly women and single mothers), disadvantaged young
        people and people who have been absent from the labour market for a long time. This latter group
        includes professional athletes and sportspeople who have retired from their sporting careers and need to
        find new careers.

        The OECD Employment Outlook 2003 “Towards more and better jobs” supports the Adecco Group’s
        strategy. Its core finding is that “... some groups, such as older workers, women, lone parents, people with
        disabilities, immigrants and disadvantaged youth […] are already under-represented in employment,
        and mobilising them into jobs should now be a key policy objective for OECD countries […] because this
        serves both economic and social goals” (OECD Employment Outlook 2003, page 16).

        Major partnerships and joint programmes to serve communities:

        Partner organisation(s)                                     Short description of project

Europe Adecco Belgium & Adecco Foundation
       – Ministry for Social Integration and Economy                Labour integration of young, low-skilled unemployed

        Adecco France
        – European Social Fund                                      The “Latitude” programme to fight against discrimi-
        – Ministry of work and social affairs (Direction de         nation. Co-financed by the European Social Fund.
          la Populations et Migrations et Fonds d’action            Project description on page 16.
          et de soutien pour l’intégration et la lutte contre les   (See also the relevant Internet platform:
        – Adia
        – Agefiph, Federation for disabled workers’                 Labour integration programme for handicapped and
          integration                                               unemployed people
        – Adecco Foundation France                                  Adecco Foundation projects, page 13
        – Several local associations (NGOs)
        – Ministry of women’s rights and gender equality            Labour programme for professional equality
                                                                    between women and men (promotion for better
                                                                    access of women to specific jobs)
        – Groupe Idées Intérim                                      Labour integration programme for low-skilled
        – Adecco Insertion, Adecco’s subsidiary for integra-        unemployed people
          tion through temporary work
        – ANPE (national office for unemployed people)              Labour programme for long-term unemployed people

     GRI Core Indicator SO1
          Partner organisation(s)                             Short description of project

 Europe Adia France
        – European Social Fund                                The “Latitude” programme to fight discrimination.
        – Ministry of work and social affairs: Direction de   Co-financed by the European Social Fund. Project
          la Populations et Migrations et Fonds d’action et   description on page 16.
          de soutien pour l’intégration et la lutte contre    (See also the relevant Internet platform:
          les discriminations                       
        – Adecco
        – Ministry for Work and Social Affairs                Integration into the workforce of young people from
                                                              depressed areas
          – JANUS, the temporary work subsidiary of           Labour integration programme for the long-term
            “Vitamine T”, an enterprise helping people in     unemployed
            difficulty find employment
          – ANPE (national office of unemployed people):
            national agreement
          – Ministry of women’s rights and gender equality    Labour programme for professional equality between
                                                              women and men (including promotion for a better
                                                              access of women to specific jobs)
          – Ministry of defense                               Labour integration programme for ex soldiers and
                                                              “gendarme” (policemen)
          – Agefiph (national office of handicapped people)   Labour integration programme for handicapped and
                                                              unemployed people
          Adecco Italy & Adecco Foundation
          – Ministry of Education                             Training for young people on labour market reform
          – Several local governments                         Adecco Foundation Projects
          – European Social Fund                              Labour integration projects for people over 45
          – Several community administrations                 and other disadvantaged groups (such as immigrants,
          – Several universities                              single parents and at-risk youth)
          – Several NGOs

          Adecco Netherlands
          – ROC – Amsterdam – Regional Education              An in-house project for the labour integration of
            Centre/school                                     young people seeking part-time jobs to do alongside
                                                              their study

          Adecco Spain & Adecco Foundation
          – Consejería de Economía, Hacienda y Empleo         Labour integration programme for (long-term) unem-
            de la Comunidad de Valencia                       ployed
          – Servicio Regional de Empleo de la Comunidad
            de Madrid
          – Ministry for Work and Social Affairs              Labour integration programmes for
                                                              – people with disabilities
                                                              – mothers
                                                              – women suffering from domestic violence
                                                              – people over 45 years of age
          – “También” Foundation                              Labour integration programmes for people with
          – “Deporte y Desafío” Foundation                    disabilities
          – “La Caixa” Foundation
          – FEFN, Spanish Federation of Large Families        Online training for mothers of large families
          – IESE Business School                              Organisation of the annual “Premios Balance Social”
          – “Actualidad Económica”, an economic newspaper     awards to reward businesses’ social commitments
                                                              (in four categories)

          Adecco UK (since October 2004)
          – TAEN, Third Age Employment Network                “Adecco Plus”: a dedicated programme focused on
                                                              integrating potentially disadvantaged groups into the
                                                              workforce. This involves the development of specific
                                                              services addressing the ageing population, diversity
                                                              and disability within the workplace. See also page 17.

          Ajilon Office Angels UK
          – UK Secondary Schools                              Each branch in the network is committed to visiting
                                                              a school and running a workshop for school leavers on
                                                              how to enter the world of work.

                 Partner organisation(s)                                   Short description of project

North America Adecco USA
              – U.S. Department of the Navy and Defense                    Help find employment for the families of personnel
              – U.S. Department of Defense                                 in the Navy, Marine Corps, Coast Guard, Army and
                                                                           Air National Guard, as well as the Reserve Compon-
                                                                           ents, all at no cost to the family members or the
                                                                           U.S. military
                 – U.S. Department of Labor                                Consultation and assistance on a variety of workforce
                                                                           initiatives, including recruitment, training and
                                                                           placement of displaced workers at companies in need
                                                                           of employees whose skills are in short supply
                 – Homecomings Financial (a General Motors                 Refers its customers and their families to Adecco for
                   Acceptance Corporation company)                         job placement

                 Lee Hecht Harrison USA & Adecco USA
                 – JAG ( Jobs for America’s Graduates)                     Assists the organisation, which is a school-to-
                                                                           career programme in 1,000 high schools, alternative
                                                                           schools, community colleges and middle schools
                                                                           across the country, in providing work-based learning
                                                                           experiences that will lead to career advancement

Latin America Adecco Argentina
              – CCI (Italian Chamber of Commerce)                          Adecco “New Opportunities Project” with labour
                                                                           integration of Argentinian citizens with European
                                                                           Economic Community passports into Italy

                 Adecco Mexico
                 – VEN CONMIGO Foundation, working with parents,           Adecco distributed information about this Founda-
                   teachers and specialists trained to help the disabled   tion to the Candidates in each branch, and promoted
                                                                           it on our website.

   Asia Pacific Adecco Japan
                – Ritsumeikan Asia Pacific University                      Job-placement services for the school’s students from
                                                                           the developing countries of the Asia Pacific region

                 Subsidiaries involved                  Partner organisation(s)             Short description of project
 Transnational Athletes Career Programme (as of September 2004)
  partnerships – Adecco Denmark               NOC                                           At the end of their sporting careers
                                              (National Olympic Committee)                  most professional sportspeople
               – Adecco France                FIBA (International Basketball                need strong support in starting a
                                              Federation)                                   conventional career. The Adecco
               – Adecco Italy                 NOC & FIBA                                    Group helps them by applying the
               – Adecco Foundation Italy                                                    outplacement methodology of its
               – LHH Italy                                                                  specialist subsidiary, Lee Hecht
               – Adecco Norway                NOC, FIBA and numerous national               Harrison.
                                              sports associations
               – Adecco Slovenia              FIBA                                          See page 18.
               – Adecco Spain                 NOC & FIBA
               – Adecco Foundation Spain
               – LHH Spain
               – Adecco Sweden                NOC

                 Longitude project on diversity
                 Adecco France                          – Project Latitude (France)         Longitude is a transnational part-
                                                        – Project Espère (France)           nership between three national
                                                        – Project Migración (Portugal)      projects in the framework of the
                                                                                            ESF (European Social Fund). The
                                                                                            objective for the partners is to share
                                                                                            their methods and means to help
                                                                                            build common reference points in
                                                                                            the fight against discrimination.

          GRI Core Indicator SO4
              SO4 Awards received and acknowledgements relevant to social, ethical
              and environmental performance

              Subsidiary               Acknowledgements and awards received

  Global level The Adecco Group        – Ranked 4th in the Swiss Market Index (SMI) Sustainability Report 2003.
                                         The report is a comparative analysis of the sustainable business practices of the
                                         25 SMI corporations including businesses such as ABB, Credit Suisse, Givaudan,
                                         Holcim, Nestlé, Novartis, UBS and Swatch. The study focused on efforts to resolve
                                         social problems and was managed by Centre Info SA, founding member of SiRi
                                         (Sustainable Investment Research International Ltd.)
                                       – Won the Numico Booster Award 2004 as one of Numico’s six top-tier suppliers.
                                         In order to determine the most outstanding out of its 6,000 suppliers in each
                                         category, Numico assessed them against the following criteria: service and company
                                         approach, product quality, timeliness, cost-effectiveness, proactive cost-saving
                                         performance and driving innovation
              Lee Hecht Harrison       – Honoured by the Association of Career Management Firms International (the indus-
                                         try’s only trade association) with five of their six 2003 Quality of Excellence Awards:
                                         Best Overall Group Outplacement Project, Best Overall Individual Case
                                         Study, the Award for Effectiveness, the Award for Creativity and the
                                         Award for Originality

      Europe Adecco Austria            – Recognised in the “Homer2003” awards receiving an honourable certificate
                                         in recognition of its measures to help disabled people access the labour market and
                                         overcome barriers to employment
              Adecco France            – The “Latitude” project to prevent discrimination in the labour market earned
              (after reporting period:   European Social Fund backing for a 3-year period (2002–2004), and has been
              first half 2004)
                                         recognised through a dedicated letter by the Minister of Social Affairs, Employment
                                         and Solidarity (see page 16)
              Adia France              – Award received from a specialist newspaper,“Stratégie”, for the public advertising/
                                         communication campaign for 2003 and for national TV and press coverage on the
                                         fight against discrimination
                                       – The “Latitude” project to prevent discrimination in the labour market earned
                                         European Social Fund backing for a 3-year period (2002–2004), and has been
                                         recognised through a dedicated letter by the Minister of Social Affairs, Employment
                                         and Solidarity (see page 16)
              Adecco Netherlands – Nomination for the Sponsor Ring Award in the category Society
              Adecco Romania           – Ranked 2nd place amongst Bucharestian best medium-sized companies 2003
                                         (3rd place amongst Romanian best medium-sized companies) by Romanian Cham-
                                         ber of Commerce and Industry
              Adecco Spain             – Ranked 2nd place amongst “most generous companies” in Spain according to
                                         a survey of the foundation “Empresa y Sociedad”. (
                                       – Ranked 3rd amongst “companies with better programmes of labour
                                         integration of disadvantaged people” according to a survey of the foundation
                                         “Empresa y Sociedad”
                                       – Ranked 10th amongst “companies recognised for their CSR”
                                       – Ranked 45th amongst the 100 “best companies to work for” in Spain
              Ajilon Office Angels UK – Winner of Age Positive Award for championing age diversity in the workplace,
                                         awarded by the government’s Department for Work & Pensions
                                       – Superbrand status: one of the top 50 business-to-business brands in the UK

North America Adecco Canada            – Ranked 2nd best employer in Québec
                                       – The President of Adecco Ca, Rémi Tremblay, was 2003 winner in the Emerging
                                         Personality category, awarded by the French Chamber of Commerce in Canada.
              Adecco USA               – Listed amongst AARP’s ( “Best Employers for Workers Over
                                         50”, the third year in a row (2002–2004)
                                       – Recognized by General Electric Medical Systems for “Outstanding Performance
                                         in Digitization Initiatives”
                                       – Ranked 18th in the 2003 InformationWeek 500, which identifies the best tech-
                                         nology and business practices of companies that demonstrate patterns of
                                         technological, procedural and organisational innovation
                                       – Recognised by the National Business and Disability Council for donating
                                         office space in New York City so that NBDC staff members could have a place to
                                         counsel and assist disabled people in their job search

  Asia Pacific Adecco Australia        – Finalist in HR Awards for Employer of Choice (less than 500 employees) 2003

GRI Core Indicators SO2–SO3, PR1–PR3, Additional Indicator(+) SO6
    SO2 & SO3 Policies and compliance mechanisms addressing bribery, corruption and
    political lobbying and contributions
    The Adecco Group’s corporate Guiding Principles state that we conduct business in full compliance with all
    laws and regulations and expressly do not allow the use of the funds and assets of the Adecco Group, directly
    or indirectly, for payments, gifts, or gratuities of any kind, which directly or indirectly personally benefit
    any agent or employee of any entity with which Adecco does business. A revised and more comprehensive
    corporate Code of Conduct is in preparation, which will give appropriate attention to these issues.
    As compliance mechanism, in April 2003 the Adecco Group introduced a Whistle-Blower System (see also
    3.4, page 32).

      SO6 Court decisions regarding cases pertaining to anti-trust
    and monopoly regulations
    In 2003 and the years before, there were no court decisions against any subsidiary of Adecco S.A.
    regarding cases pertaining to anti-trust and monopoly regulations by Adecco subsidiaries. As of year end
    2003 Adecco S.A. was not aware of any accusation or pending court decision regarding such cases.
    As announced on December 1, 2004, Adecco S.A. was informed on November 30, 2004, that the French
    competition authorities have begun an investigation of the company and certain of its competitors
    in France with regard to alleged violations of French and European competition laws. Adecco France is
    fully cooperating with the authorities.

    Product Responsibility
    In the case of our business, HR services, “product responsibility” refers to our responsibility to our
    Associates, namely our responsibility for what kind of workplaces and work conditions we offer them.
    These topics are covered above under “Labour practices” and “Human rights”.

           Sustainability and CSR Management within the Adecco Group
   Board level Audit Committee                  Jakob Baer, Chairman
responsibilities                                Thomas O’Neill
                                                David Prince
                Nomination & Compensation       Peter V. Ueberroth, Chairman
                Committee                       Jürgen Dormann
                                                Francis Mer
                Corporate Governance            Francis Mer, Chairman
                Committee                       Jakob Baer
                                                David Prince

    Corporate Enrique de la Rubia               Chief CSR Officer
 positions and Tundé Johnson                    Chief Compliance & Business Ethics Officer
     functions Thomas Reuter                    Senior Vice President Sarbanes-Oxley Act Project
               Jim Nortz                        Vice President Compliance & Business Ethics
               Melanie Lawrence                 Vice President Compliance & Business Ethics
               Michel Tcheng                    Internal Audit & Risk Management
               Carlos Viladrich                 Head of Adecco University
               Johannes Bartels                 CSR Strategy and Communication
               Claudio Soldà                    Senior Workers Programme (in development)
               Guro Johnson                     Athletes Career Programme
               Eduardo Barbadillo               UN Global Compact Affairs
               Bruce Roch                       Disability Programme

       France Jean-François Connan              CSR Adecco France
              Agnes Roche de la Porte de Vaux   Department “Développement Social”, Adecco France
              Christian Peudeux                 Adecco Insertion (Adecco France’s subsidiary
                                                for disadvantaged people)
                Michel Manent                   CSR Adia France
                Renaud Joubert                  Adecco Foundation France

           Italy Claudio Soldà                  Adecco Foundation Italy

        Spain Francisco Mesonero                Adecco Foundation Spain & CSR Adecco Spain

      Belgium Philip Verbeeren                  Adecco Foundation Belgium & CSR Adecco Belgium

  Netherlands Rinus Wittenberg                  CSR Adecco Netherlands

     Germany Peter Auth                         Adecco Foundation Germany

  Switzerland Johannes Bartels                  Adecco Foundation Switzerland (in development)

           USA Terry Morris                     Dimensions Programme
               Victoria Mitchell                Renaissance Programme
               Erin Walerko                     Career Accelerator Programme
               Merri Dillinger                  JAG Partnership (Adecco)
               Steve Harrison                   JAG Partnership (LHH)
               Victoria Mitchell                Department of Labour Programmes

                As of December 1, 2004

Further reading

Orchestrating the evolution of private employment agencies towards a stronger
society Produced by CIETT (International Confederation of Temporary Work Businesses) and published
on January 2, 2000, in Brussels. The research described in this report was conducted by McKinsey & Com-
pany. Downloadable at (mentioned on page 14)

Walking the talk – How 12 companies are leading the way towards creating a
disability inclusive society A publication of the corporate partners of the European Year of People
with Disabilities, EYPD2003. Available at or downloadable at
(see pages 14–15)

Jobs, Jobs, Jobs – Creating more employment in Europe Report of the European
Employment Taskforce chaired by Wim Kok. November 2003. ISBN: 92-894-6911-0, available on the
European Commission website (mentioned on page 42)

OECD Employment Outlook 2003 – Towards more and better jobs ISBN 92-64-10061-X:
This publication provides an annual assessment of labour market developments and prospects in member
countries and is published on the responsibility of the Secretary-General of the OECD (Organisation for
Economic Co-operation and Development). Available at OECD online bookshop,
(mentioned on page 43)


Publisher Adecco S.A., CH-1275 Chéserex
Overall responsibility Gonzalo Fernández-Castro, Enrique de la Rubia
Concept and realisation Johannes Bartels

Argentina 1,2*               Finland 1,2*         Malaysia 1           Singapore 1,2
Australia 1,2,3              France 1,2,3         Martinique 1         Slovak Republic 1,2
Austria 1,2*                 French Guiana 1      Mexico 1,2*          Slovenia 1,2
Belgium 1,2*,3               French Polynesia 1   Monaco 1             Saint Martin 1
Bolivia 1                    Germany 1,2          Morocco 1            South Africa 1,2*
Brazil 1,2*                  Greece 1,2           Netherlands 1,2,3    South Korea 1,2
Bulgaria 2*                  Guadeloupe 1         New Caledonia 1      Spain 1,2,3
Canada 1,2*,3                Guatelama 1          New Zealand 1,2*,3   Sweden 1,2*,3
Chile 1,2*                   Hong Kong 1          Norway 1,2*,3        Switzerland 1,2,3
China 1,2                    Hungary 1,2          Panama 1             Taiwan 1
Colombia 1,2*                India 1              Peru 1,2*            Thailand 1
Costa Rica 1,2*              Indonesia 1          Philippines 1        Tunisia 1
Croatia 1                    Ireland 1,2*,3       Poland 1,2           Turkey 1,2
Czech Republic 1,2           Israel 1,2*          Portugal 1,2*,3      UK 1,2*,3
Denmark 1,2*                 Italy 1,2*,3         Puerto Rico 1,2*     Uruguay 1
Dominican Republic 1         Japan 1,2,3          Réunion 1            USA 1,2,3
Ecuador 1                    Lithuania 1          Romania 1            Venezuela 1,2*
Estonia 1                    Luxembourg 1,3       Russia 1,2*

  Territories where Adecco operates
  Territories where Lee Hecht Harrison operates
  Territories where Ajilon operates
  Lee Hecht Harrison Global Partners

6000 offices
in 70 countries and territories
(as of December 2004)
Registered office
Adecco S.A. (Holding)
CH – 1275 Chéserex

Contact details:
Adecco management & consulting S.A.
Sägereistrasse 10
P.O. Box
CH – 8152 Glattbrugg
T. + 41 44 878 88 88
F. + 41 44 829 88 88

Corporate Social Responsibility
T. + 41 44 878 88 35
F. + 41 44 829 88 39

Corporate Communications
T. + 41 44 878 88 32
F. + 41 44 829 88 39

Investor Relations
T. + 41 44 878 88 88
F. + 41 44 829 88 88

Adecco on the Internet

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