Stena AB Takes Care

StenaOur visit to Stena AB in Göteborg, their hub of operations in Sweden, was quite compelling. Stena's focus lies mainly on ferry routes, shipping, offshore drilling, property, finance, adactum, as well as recycling, environmental services and trading. Stena refers to these business areas as the Stena Sphere.

Currently Stena has 22,000 employees worldwide. From our conversations with our hosts, it is impressive that each employee is treated as an individual. The employees enjoy working with each other in this unique community. At Stena, all employees believe in a long-term, sustainable business. After hearing some very energetic employees speak about their experience at Stena and why they love to work for Stena, it is no surprise to learn that part of the company values are committed people. Stena seeks individuals that embody four traits: competence, consistency, clarity, and care. They believe that if employees are treated well with these four values, then the employees will also put forth these values to customers.

Sweden has a very unique culture and some of the major challenges with talent management at Stena is acclimating international employees with the Swedish culture. An example was that one employee spent about a year becoming immersed in the Swedish culture before feeling comfortable with the management style.

Many companies hire Stena to staff the vessels they charter. They also staff their own vessels on the ships that they do own. Stena believes that having a nice ship and top quality human capital will bring in more revenue per day. For example, they can bring in about $17,000 versus $12,000 that they competition is earning. Stena also invests in Chalmers University of Technology because the competencies are there. This is similar to other companies we have visited such as Ericsson.

Overall, Stena takes care of their employees and treats them with the utmost respect. In return, their employee retention rate is very high and their customers are treated with the same values.