NF6 Employees

At year-end 2024, the number of employees (FTEs) amounted to 41,447 (40,877).

Competence development

Sandvik provides diverse opportunities for growth, including stretch assignments, mentorship, digital learning platforms, and face-to-face programs. Our global offering includes leadership and expert programs, learning academies, digital workshops, and e-learning modules, all designed to upskill and reskill employees for current and future needs, aligning with our 2025 strategy.

Global Graduate program

The Global Graduate Program is a 15-month initiative designed to attract top talent and provide young professionals with hands-on experience across Sandvik global operations. Targeting top students from key markets, the program strengthens our employer brand and integrates new talent into our organization. In 2023, the sixth program started with 12 participants from China, India, Finland, Sweden, Brazil, Germany, and the U.S., with a 50/50 gender balance. A new program will start in September 2025.

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 2024, 3,015 (3,599) new employees were hired and a significant portion of the job openings were advertised within our Sandvik internal job market.

Diversity, Equity, and Inclusion

Sandvik strives to create an equitable workplace with an inclusive culture for diverse, talented individuals to thrive and bring their authentic selves to work, 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, and we regularly monitor our inclusion levels though our Your Voice surveys.

We recognize that it is essential to start from the top. Our Executive Management team exemplifies this, representing 5 (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 2024, we reached 20.5 percent (20.5). Additionally, in 2024, 22 percent (32) of external executive recruits were female, and 32 percent (27) of the successor talent pool for division management were women. In terms of nationality, 19 percent (14) of business area management team members were non-Europeans.

In 2024, we continued the integration of Equity into our Diversity and Inclusion efforts. As a key milestone, all HR employees and managers across our business areas were trained on the concept of Equity and Allyship with our updated introduction training to Diversity, Equity and Inclusion (DEI). This will continue to be offered to all newly hired or acquired employees. Our online toolbox was renewed and complemented with equity-specific topics embedded into our employee journey. Our Bridge program continues to focus on leadership across diverse cultures, and all internal global leadership programs include training on creating an inclusive work environment and promoting diversity.

To instill a curious conversation beyond gender, we ran quarterly global awareness campaigns #SandvikTrueColor. In 2024, Group executive team members, employees and external specialists discussed how we create a psychologically safe and inclusive workplace for the LGBTQIA+ community, indigenous people and persons with disabilities.

To underscores our commitment to an inclusive, equal opportunity workplace and foster well-being and more equal societies, Sandvik offers (since 2024), 14 weeks of gender-neutral paid parental leave to all our employees, who recently had or adopted a baby. This includes single parents, LGBTQ+ families, and other family arrangements.

Employee engagement

Sandvik conducts regular Engagement Surveys (QPulse) to measure employee engagement and recognize improvement possibilities in identified priority areas. At year-end, the Engagement Index was 7.7 (7.6), (measured on a scale of 0 to 10, with a measurement of 7 or above indicating a positive score) and the Inclusion Index was 8.0 (8.0), with a response rate of 88 percent. In 2024, we added health & well-being to our Engagement Surveys to improve productivity and engagement and reduce absenteeism and work-related disease, which reached a score of 7.9 (7.8). All key performance indicators based on results continue to be implemented in each business area and Group functions. In the third quarter, we introduced a monthly survey frequency to our office-based employees, to enhance the user experience and enable an ongoing dialogue. Workers in production environments continue with their quarterly frequency.

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 2024, 97 percent (94) of employees participated in these dialogues and performance management bias training for managers and HR was embedded into the process.

In 2024, 44 percent (42) 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 28 to 1. The ratio of the percentage increase in these respective compensations for 2024 compared to 2023 is 1.0 to 1. Regarding remuneration, see note G4.