7 Golden Benefits of Working in Sweden
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Sweden is identified as the heaven on earth for the working class. Are you also curious to know the reason that makes Sweden the unique choice of expats from all around the world?
Sweden has long been famous for Scandinavian charm and chill winters, and is now the very destination for the world’s happiest workers, with advanced infrastructure and many more. Sweden has also emerged at the forefront of the global economy and has become one of the prime hotspots for businesses hiring globally.
Wanting to dive into the Swedish labor market it is important to understand the benefits of working in Sweden along with the optional perks that make the country stand out and attract & retain employees in the world’s most competitive employment markets.
Without further ado let us understand Why Work in Sweden?, along with the Advantages of Working in Sweden.
Work in Sweden
Sweden, along with being one of the most competitive employment markets in the world, also has progressive social policies and employee-friendly labor laws, along with accessible employment to residents, publicly funded healthcare, education, and friendly immigration policies. These are a few of the prime reasons that make Sweden a highly preferred country to work and settle in.
The employee rate in Sweden has grown drastically to 69% in 2022 from the former 67.2% in 2021 The last lowest employment rate in Sweden was witnessed in the year 2010 at a percentage of 65.4% which was a result of the 2008-2009 financial crisis.
*Source: Statista 2023
Employment Opportunities in Sweden
Sweden is also popularly known as one of the world’s most innovative nations. The Scandinavian nation is highly reliant on foreign trade and has one of the most lucrative markets in the service sector which constitutes about 79.9% of employed as of 2019.
A report by Eurostat also highlights that there were 142,533 job vacancies recorded as of September 2022. Sweden is also home to some of the biggest multinational companies like Electrolux, IKEA, Skype, Volvo, Spotify, etc.
*Source: Statista 2023
Benefits of Working in Sweden
Sweden is the 7th best country with the highest employment rate in the world, with a 75% fully employed labor force. Surviving in such a competitive labor market demands that businesses or employers provide unique or higher benefit packages to retain quality talent.
Along with having access to one of the world’s highest employment markets, there are a lot more employee benefits in Sweden that you can avail of.
1. Take your time off: Leave Entitlement
As per the Swedish annual leave act, an employee can avail of a minimum of 25 days of vacation yearly along with the benefits of 12% of gross wages in the preceding year in addition to 0.43% of their monthly payout.
New mothers are entitled to a maternity leave of 14 weeks with the flexibility to split 7 weeks before and after delivery. Simultaneously, newly fathers have the eligibility for 10 days of paternity leave that can be availed within 60 days of childbirth.
Along with the benefit of maternity leave, either of the parents is entitled to 480 days of paid parental leave, and also one of the partners can grab up to 390 days of paid benefits by the Swedish Social Insurance Administration.
2. No Hierarchy at work
“If you want to hire great people and have them stay, you have to be run by ideas, not hierarchy”
Sweden is one of the very few countries in the world that believes in equality in the workplace. You would hardly be able to recognize an employer and employee, be it a manager or a CEO or a freshman, everyone in Sweden is addressed through their names. Sweden is also one of the most gender-equal nations in the world.
3. Assured Bonus for employees every month: Overtime
One of the best Swedish employment benefits gained by working in Sweden is the eligibility of grabbing a 50% – 100% guaranteed bonus. While the Swedish Working Hours Act of 1982 states that an employee in the country can work for 5 days or 40 hours per week.
While the number of hours spent working beyond that is accounted as overtime – the maximum allowed limit is up to 50 hours monthly.
4. Competitive Wages
Thanks to the highly competitive employment market the minimum wage itself in Sweden is quite competitive, the average salary in Sweden is 45,100 SEK per month. The minimum salary in Sweden is 11,400 SEK and the average the experienced employees pay is 201,000 SEK per month.
5. Social Security
The Swedish Social Security system covers some of the great benefits for the working class in the country which range from general pension to healthcare, sick leaves, etc.
Employers generally contribute around 31.42% of the respective employee’s gross income to the National Insurance scheme under the Social Security fee and the best part is the Social Security fee is eligible to be calculated under the tax, but not under the employee.
6. Swedish have high regard for employee wellness: Healthcare
The healthcare system in Sweden is a national network hence, which effectively reduces the cost for individual patients. Working in Sweden if you ever face sickness, you are entitled to sickness benefits starting from the second day to the 14th day of illness from the employees, not just that post the 14-day employee has the eligibility to gain benefits up to 80% of his nominal wages from the Swedish Social Insurance Agency.
7. Opportunity to study without losing your bread earning
Working in Sweden is just not about learning new skills or gaining expertise but one of the biggest Swedish employment benefits is that you can put your job on hold in go back for earning extra degrees or university
The Employees Right To Education Leave Act 1974 entitled employees in Sweden to take a leave of absence for studies once they have completed working in the country for a minimum of 6 months.
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Sweden has been among the prime hotspot for the working class willing to immigrate abroad to work, study, and settle, thanks to its thriving economy, high living standards, robust worker welfare Acts, English everywhere (the language of business) culture, etc.
To be able to grab employment in such a happening country is not difficult with the right immigration assistance in place. Additionally, the Job Seeker Visa does half of the job, by creating the space for you to learn and witness the Swedish market even before signing up for a job. The chances of gaining a visa approval improve drastically through consultants that know their way around ensuring a seamless and transparent process through a tech-enabled experience.
Ensuring that your every effort is successfully accomplished GetGIS – your immigration buddy partners you with a dedicated relationship partner and country expert, who are all geared up with the latest news and updates, along with providing you with the accessibility to view your application status live, job search assistance, documentation, query resolving, and a lot more, making sure that your dream to immigrate is your reality.