NF6 Employees

At year-end 2023, the number of employees amounted to 40,877 (40,489).

Competence development

Sandvik offers numerous opportunities for competence development, such as stretch assignments, mentorship, utilization of digital learning platforms, and participation in face-to-face programs. We provide a global offer of leadership and expert programs, a variety of learning academies, digital workshops, and e-learning modules aimed at upskilling and reskilling for both current needs and future demands, all supporting our 2025 strategy.

Global Graduate program

The Global Graduate program is a Sandvik trainee program, providing young professionals with a 15-month opportunity to explore different facets of our global operations. The program aims to attract and recruit top students from selected markets, facilitating their introduction to the Sandvik world and contributing to our employer brand. In September 2023, the sixth global graduate program commenced with twelve participants from China, India, Finland, Sweden, Brazil, Germany, and the US, maintaining a balanced gender split of 50/50 percent.

Internal job market

As a Sandvik employee, you are responsible for steering your own career development. Our organization provides a broad spectrum of career opportunities. Through our internal job market, employees have the opportunity to transition to different divisions within Sandvik or explore opportunities in other countries, fostering both personal and professional growth. In 2023, we welcomed 3,599 new hires recruited externally to Sandvik. A significant portion of the job openings were advertised within our Sandvik internal job market.

Diversity, Equity, and Inclusion

We strive to create an equitable workplace with an inclusive culture for diverse talented individuals, which creates benefits all the way to our communities, value chains and customers. This commitment is evident in our recruitment, people development, and retention efforts, with ongoing initiatives detailed in Sandvik Mining and Rock Solutions, Sandvik Rock Processing Solutions and Sandvik Manufacturing and Machining Solutions.

We recognize that diversity, equity, and inclusion are essential, starting from the top. Our Executive Management team exemplifies this, representing 4 (5) nationalities and diverse backgrounds. As part of our goals, we aim to achieve 25 percent female representation among our managers by 2025, and as of 2023, we reached 20.5 percent (19.6). Additionally, in 2023, 32 percent (30) of external executive recruits were female, and 27 percent (28) of the successor talent pool for division management comprised women. In terms of nationality, 14 percent (14) of business area management team members were non-Europeans.

In 2023, we initiated the integration of Equity into our Diversity and Inclusion (D&I) efforts. This involved defining the relationship between Equity and our core Sandvik value of fair play, incorporating Equity into our Sustainability Strategy, and launching quarterly global awareness campaigns with #SandvikTrueColor. By embracing “Equity,” Sandvik aims to adopt an employee-centric approach that acknowledges and addresses the specific realities of our diverse talents.

Our commitment is to empower individuals to thrive, bring their authentic selves to work, and foster a workplace that supports everyone’s career growth, regardless of background. We monitor our inclusion levels through quarterly D&I Pulse surveys. As part of our strategy, we provide Diversity, Equity, and Inclusion (now DEI instead of D&I) training to all employees, managers, and HR specialists across our business areas. This comprehensive program includes a toolbox featuring online and offline learning, workshops, exercises, and DEI basic training offered to all newly hired and acquired employees. Our Bridge program specifically focuses on leadership across diverse cultures, and all internal global leadership programs include training on creating an inclusive work environment and promoting diversity.

Employee engagement

Sandvik conducts Quarterly Engagement Surveys (QPulse) to measure employee satisfaction and engagement, and recognize improvement possibilities in identified priority areas. In the third quarter, we introduced a modern Engagement Insights Platform, enhancing our employee-centric and digital approach. This platform provides managers with real-time engagement data, enabling prompt action on employee insights. The annual average for the Engagement Index was 78 percent (78), and the Inclusion Index was 81 percent (79.5), with a response rate of 73 percent (65).

Key Performance Indicators based on results are implemented in each business area and Group functions.

Bias awareness was introduced to the manager training, and 93 percent of the feedback respondents evaluated the training as useful.

Every Sandvik employee is offered at least one annual individual performance dialogue with their manager, focusing on past performance, new goals, and development plans for the upcoming years. In 2023, 94 percent (93) of employees participated in these dialogues.

In 2023, 42 percent (46) of employees were covered by collective bargaining agreements.

Remuneration

The ratio of the annual total compensation for the President and CEO to the average remuneration per employee in the Parent Company (excluding the President and CEO) is 30 to 1. The ratio of the percentage increase in these respective compensations for 2023 compared to 2022 is 1.4 to 1. Regarding remuneration, see note G4.