Development and opportunities
‒ Global employment opportunities
Volvo Group offers interesting career opportunities and career paths across our business and wants to attract and retain the best people. We invest in development and training and strive for each individual to have both business-related and competence-development targets. Our leaders shall inspire colleagues to perform at a higher level.
Volvo Group is known for its innovative solutions. Our capacity for innovation is dependent on the effective sharing of knowledge and experience within our organization. Interesting and challenging career opportunities help our employees to achieve their full potential. The ability to enhance and develop employees’ capacity and competencies is one of our success factors.
Working within Volvo Group means working in an international environment with committed employees from all over the world. It is important that each employee knows how to contribute to business success.
However, the most effective development comes from different forms of work assignments, e.g. international projects. We encourage motivated employees to move between roles and companies within the Group. A program has been launched for global mobility, aimed at making mobility between countries, functions and between companies a productive and enriching experience for employees, their families and Volvo Group.
We have a rich talent pipeline, diverse career opportunities and paths for effective succession planning. This ensures that we maintain our competitive edge.
Individual competence development
Securing and enhancing competences is crucial to being competitive and attractive as an employer and business. We regularly map our strategic competences, and annually aggregate findings on a Group level to identify the most important competencies for future needs.
We thus offer a wide variety of training programs at all levels for employees, in specific professional areas as well as for stimulating personal growth. The activities range from traditional and e-based training to individual coaching and mentoring.
Individual competence development is based on a personal business plan, which provides support for translating corporate strategic objectives into individual objectives and contribution. The purpose is to facilitate discussions between individuals and their managers and to ensure that employees clearly understand their role in the team and what is expected of them.
The personal business plan has business-related and competence-development targets. Personal business plans are reviewed annually and provide essential feedback for both short-term and long-term career paths.
All white-collar employees have personal business plans that are followed-up at company as well as at Group level. We continued to implement the personal business plan process for industrial workers in 2010, and expect this to be implemented in all companies by the end of 2011.
The above chart serves as an example to show how the strategic objectives are broken down and being translated into personal business plan.
Every manager is responsible for assessing and developing talent in the organization. The Leadership Pipeline provides us with a structured approach to developing and preparing our present leaders as well as our potential leaders for future roles.
Volvo Group Leadership Pipeline has been set up jointly with research institutes. It is based on successful decision styles, has been validated by global research and is also designed to support Volvo Group’s culture and values as well as our strategic objectives.
Our leaders must be team players who can enhance both individual and team performance, as well as provide motivation. Managers at all levels need good leadership and communication qualities, as well as competence and knowledge in respect of, for example, regulations and legislation.
Volvo Group has a number of training programs to support managers at different phases of leadership. Examples include:
- Preparation for new managers
- Efficient conflict management
- Leading multicultural organizations
- Benefits from diversity and a global environment
- Self-evaluation in ethical dilemmas
- Labor law
- Coaching for experienced managers
- Workplace health promotion
Compensation and benefits
The Group’s fundamental values and principles as expressed in The Volvo Way are reflected in the compensation and benefits policy. We aim to be a competitive and attractive employer. Pay, as well as benefits, are important drivers, as are career opportunities, personal development, culture and values, leadership, company performance and reputation. Equal pay for work of equal value is the guiding principle. Individual salaries are based on position, the market and the employee’s performance, and comply with pay practice within the country. Cooperation, commitment and internal mobility are encouraged and highly valued.
In addition to fixed salaries and variable remuneration, other customary benefits are usually offered such as pension solutions, health plans, company cars or car allowances, recreation facilities, insurance, etc. The programs are country-specific and comply with local practice. The purpose of the benefits programs is to:
- Offer total remuneration packages which are relevant for the specific country and employee category
- Offer basic protection through insurance arrangements for areas such as sick pay, pensions and other life events
- Promote areas such as diversity, health and wellbeing