We aim to be an attractive and responsible employer of choice for both current and future employees. We will not succeed in pursuing the Volvo Group's vision without engaged and motivated employees willing to take an active role in the Group’s development and future. Therefore, investing in employees’ development, health and wellbeing is a strategic choice for the Volvo Group.
Priorities for the Volvo Group as an employer of choice
Investing in our employees is a fundamental part of staying competitive, sustainable and profitable. We recognize that our employees represent an important factor in our success. We work in a variety of areas such as competence development, talent planning, health and wellbeing, work environment and leadership training, and actively seek feedback and the opinions of our employees. Our strategic focus areas include:
- Strategic competences
- Diversity and inclusive leadership
- Organizational agility
Our ambition is to offer interesting opportunities and a unique company culture that help us attract and retain the best people.
Our ambition is to offer interesting opportunities and a unique corporate culture that help us attract and retain the best individuals. Our total value proposition is based on compensation related to market levels and individual performance. It also includes interesting opportunities, career paths and health promotion to attract and retain the best individuals to contribute to our shared development over the long-term. One specific challenge is to improve our attractiveness in Asia where our operations are expanding fast.
An attractive employer
The Volvo Group had 98,162 employees and 19,675 temporary employees and consultants at the end of 2011. This can be compared with 90,409 employees and 14,851 temporary employees and consultants at the end of 2010. We are very proud to be among the leaders in international benchmarking as both an attractive employer and a respected company.
Top employer award in Brazil
For the second time, Volvo do Brasil was rated as the best employer in Brazil. The survey was conducted by the Voce S/A and Exame magazines, covering 504 companies in different sectors. The survey ranks the best 150 employers in Brazil. Volvo do Brasil has 3,900 employees and headquarters in Curitiba. In the 2011 survey, Volvo do Brasil obtained excellent results in all categories covered by the survey.
Best company in the IT-consultant industry in Sweden
Again, Volvo IT reached a top score in the IT consultant category in "Karriärbarometern" (Career Barometer), a Swedish survey that is conducted by the company Universum, on an annual basis. In the list of companies in the Data/IT industry, the highest ranked IT consulting company was Volvo IT at number eight. The survey canvassed more than 9,000 so called young professionals, a group comprising people aged 40 and under, who have been working for between one and eight years.
From satisfied employees to engaged employees
The Volvo Group has conducted an annual employee survey, the Volvo Group Attitude Survey (VGAS), every year since 1999 with the exception of 2010. In 2011, a modernized version of VGAS was launched. A new feature is the introduction of an Employee Engagement Index (EEI) in addition to the Employee Satisfaction Index (ESI), which was previously measured.
The business outcomes of employee engagement is well proven and include increased customer satisfaction, operational excellence and profitable growth. Moreover, engagement contributes to enhancing individual and team performance and thus the organization’s capacity to change, learn and grow.
In the 2011 year's VGAS, an overall employee engagement of 76% was reached for the Volvo Group. This can be compared with the global norm of 68%. The result in VGAS is benchmarked against an international database with data gathered from over 14 million employees, representing over 80 countries.
The VGAS reveals that the Volvo Group’s general strengths are the employees’ pride in manufacturing products of high quality and that they clearly understand their role and the business objectives.
Challenges are to improve the speed with which decisions are made and the implementation of changes and decisions. One of the desired effects of the Volvo Group’s reorganization in 2011 is precisely to increase the speed of implementation of decisions and a new vision was adopted in October 2011.
The response frequency in 2011 year’s VGAS was 92%.
The Volvo Group’s definition of employee engagement
Employee engagement is the extent to which employees are committed and enabled to go the extra mile for the long-term success of the organization and themselves.