Workforce 2020

Country
Country Fact Sheet: fact sheet—Australia
Sweden
The Looming Talent Crisis
 The workplace of the future will be the most diverse the world has ever seen. In 2020, multiple generations working
together will have different skills, experiences, habits, and motivations—and more of these workers will be freelancers and
contractors. All of this represents a major opportunity for employers and employees alike.
 Our worldwide survey of 2,718 executives and 2,872 employees shows that most companies are not prepared to capitalize
on these changes. Businesses are struggling with managing talent, cultivating leadership, encouraging learning, and
understanding their employees—and they may not be making HR a priority.
 This fact sheet outlines key survey findings about Sweden.

Sweden’s top 5 labor market Globalization of labor The New Face of Work
shifts affecting workforce 65% supply
strategy: Research shows priorities shifting as
economies rebound globally, and
Millennials entering the Employee expectations
TK%
49% workforce 47% companies lag in understanding these
are changing
changing dynamics.
 42% of Swedish employees get ample training
Aging workforce Increasing number of on workplace technology; 32% get access to
43% 43% consultant employees the latest technology. Companies and workers are
unprepared for the growing need for technology
skills (see “Bridging the Talent Gap”).
Executives say...
…my company has a strong
...my company has an execution
 88% of Swedish executives say they are
vision for the workforce it wants
plan for achieving its vision of increasingly using contingent, intermittent,
to build in three years.
workforce management. seasonal, or consultant employees; 37% say
that this requires changing HR policy. Overall,
35% executives are rethinking compensation, training,
54% and HR technology.

…workforce issues drive  33% of Swedish companies use quantifiable

strategy at the board level. metrics and benchmarking for workforce
40% development; but just 43% know how to extract
meaningful insights from that data.

A Millennial Misunderstanding I expect more

I am
interested in
I frequently
collaborate with
feedback than quality of life colleagues in
Millennials are different, but not as different as I currently over career other areas of
companies think. receive. path. the company.

 60% of Swedish executives say they rely on younger

employees or recent graduates to fill entry-level positions,
and 49% of executives say Millennials entering the 32% 50% 28%
workforce are impacting workforce strategy.

 Swedish executives may be out of touch with what Millennials

22% 55% 29%
think—51% of executives think Millennials are frustrated with
manager quality, but only 6% of Millennials say they are. 52%
of executives think Millennials will consider leaving their jobs
1
due to a lack of learning and development, but only 4% of Millennials Non-Millennials
Millennials say so.
 Workforce 2020—Sweden

What Matters Most at Work

What employees What executives say their Companies do not understand what their
say is important company widely offers employees really want from them.
Flexible Supplemental Access
Competitive work
Flexible
training to social  47% of Swedish employees are satisfied or very
schedule
compensation location programs media satisfied with their jobs.
 The most important benefits and incentives to
72% Swedish employees are: competitive compensation
43% 34% 35% 27%
(72%), bonuses and merit based rewards (56%), and
flexible work location (43%).

44% 33% 35% 60% 19%  50% of employees say higher compensation would
increase loyalty and engagement with their current job.
 Employees think the following attributes are most
important to their employer: the ability to learn and be
trained quickly (35%); high level of education (31%);
and job performance and results (31%).

What executives are saying…

“We need to have a strategic plan. We need to go out more and meet [younger workers] in the
universities and promote our organization more, and also have communication with the students now
so we know what kind of conversation they would like to have in the future.”
—Lise-Lotte Björkman Averbo, HR Manager, Skatteverket

Executives say…
The Leadership Cliff Our leaders are prepared to
lead a diverse workforce. 34%
Executives and employees agree that Talent available in leadership
leadership is lacking—and companies are not positions is sufficient to drive
global growth.
45%
focused enough on developing future leaders.
 Just 34% of Swedish executives say their company Our leadership has the skills to
plans for succession and continuity in key roles. 36% effectively manage talent. 65%
say that when a senior person leaves, the company
tends to fill the role from within the organization. of employees say
of executives say
leadership ability
 45% of executives say their plans for growth are being leadership is an
is an important
hampered by lack of access to the right leaders. 23% employee 15% important
employee
 Employees agree with employers when it comes to attribute at their
attribute.
leadership—44% of employees say leadership at their company.
company is equipped to lead the company to success. of employees say
of employees say
their manager
their company is
64% delivers on 33% committed to 2
leadership
diversity.
expectations.
 Workforce 2020—Sweden
Bridging the Talent Gap—
of employees are most
The Learning Mandate 45% concerned about their position
changing or becoming obsolete.
Better training and education opportunities
would benefit employees and businesses alike. of employees say they have
 The need for technology skills (e.g., analytics, cloud) will grow,
but employees expect to gain proficiency in most of these areas
21% experienced the most professional
development through formal training.
slowly. 38% expect to be proficient in analytics in three years,
while just 29% expect to be proficient in cloud.
of executives say their
 60% of Swedish executives say their company widely offers 41% company has a culture of
continuous learning.
supplemental training programs to develop new skills.
 But only 36% of employees say their company provides the right
of employees say HR has a
tools to help them grow and improve job performance.
33% good understanding of their
skill sets.
 34% of employees say their company encourages continuing
education and training to further career development.

Survey demographics: Sweden

 Executive industries: Executives come from the following industries: banking (8%); insurance (9%); retail (17%);
public sector (17%); healthcare (14%); professional services (19%); consumer goods (17%).
 Employee industries: Employees come from the following industries: banking (10%); insurance (9%); retail (16%);
public sector (24%); healthcare (17%); professional services (12%); consumer goods (11%).
 Employees by function: finance (7%); HR (8%); marketing (11%); sales (21%); operations (24%); production (8%);
service (8%); IT (15%).

 Executive titles: CEOs (3%); COOs (13%); CFOs (4%); CIOs (5%); CMO (2%); Chief Human Resources Officer
(5%); VP/Directors of HR (17%); VPs of Learning/Development (15%); VPs Compensation & Benefits (22%); VP
Recruiting or Talent (14%).
 Employee titles: front-line (44%) employees; mid-level managers (37%); line-of-business managers (17%).

Annual company Executive

Employee Millennial respondents 15%
respondents (ages 18-35)
revenue:
24%
$10 m–$49 m 12%
Non-Millennials 21%
$50 m–$299 m
Employee 20% 15%
$300 m–$499 m respondents

48% 52% $500 m–$1 bn 26%

Over $1 bn 19%
28% 19%

About the project

Workforce 2020 is a large-scale global study to discover best practices and actual progress toward the creation of talent strategies for the future in the
global economy. We surveyed more than 2,700 executives and 2,700 employees, and interviewed 28 executives across the following countries:
Australia, Brazil, Canada, Chile, China, Colombia, the Czech Republic, Denmark, France, Germany, India, Japan, Kenya, Malaysia, Mexico, the
Netherlands, Poland, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, UAE, UK, US. Survey respondents came from a
variety of industries, company sizes, and age groups (49% of employee respondents are Millennials).