Doing business with a Sweden PEO/EOR
As the third largest country in Europe by land mass, Sweden is home to just over 10 million residents and a flourishing economy. Companies in Sweden are known to operate more on the basis of group consensus, as opposed to the common business practices in other countries where a small group of executives make most of the decisions.
This method can sometimes lead to business partnerships and agreements taking a little longer than they would in other countries, so be prepared for the possibility of needing to extend your expansion timeline. It is also worth mentioning that small talk tends to be brief during business meetings in Sweden, and that most Swedish businesspeople prefer to focus on the business matters at hand.
Why Use a PEO in Sweden?
The best practices for efficiently obtaining work visas and expanding your business internationally with legal compliance often involve a large amount of time and money being allocated for foreign companies to begin operating in Sweden. A Sweden PEO provider can simplify this process for your business by managing the hiring and onboarding processes, leaving your company the time and resources to focus on your core business functions. Local employment specialists can also help foreign companies navigate the complexities of secure office rentals, managing employment contracts, and more.
How to Hire in Sweden
Sweden requires employers to provide employees with a written employment contract within 30 days of their hiring. The employment contract must specify the details of the employee’s compensation, benefits, and termination requirements. Both the offer letter and employment contract for employees working in Sweden should always state the salary and any additional compensation in the local Swedish krona currency.
It’s important to keep in mind that Sweden offers all of it’s residents their comprehensive Universal Healthcare, which is paid for through both federal and local taxes. This benefit is extended to any foreign employees who are citizens of an country in the EU. Some companies will provide private health insurance to their workers, which essentially allows the employee to skip the line and be seen by a medical professional right away.
As every culture presents different hiring challenges and opportunities, taking advantage of the recruitment channels with the highest potential is especially important for the process of hiring talented professionals in Sweden. This is where your company can likely benefit from working with a Sweden PEO that is already well-versed in the local regulations and possesses in-country connections.
To successfully hire in Sweden, it can also be valuable to partner with a recruitment agency to simplify and expedite the process of hiring talented professionals in the country. On occasion, global PEO organizations will have an in-house recruitment agency that will significantly aid the process of recruiting in Sweden. The benefits of using a recruitment agency to improve your overall hiring process include:
- Having access to local recruitment experts who are familiar with the Swedish markets and the best hiring practices.
- Partnering with an organization that is designed to understand the specific goals of your business and that can create a recruitment search process that is designed to fulfill your exact needs.
- Being able to take advantage of the recruitment agency’s local legal expertise to ensure that your business is compliant with the local laws and regulations in regards to employment.
When you partner with a Sweden PEO that also offers recruitment coverage, your company is able to receive ongoing support that includes the hiring and onboarding management, HR and payroll services, and more valuable resources in addition to those provided in the initial recruitment phase.
Below we have listed our recommendations for the 3 Best Sweden PEOs and Employers of Record. These organizations all have outstanding reputations for being able to hire and manage talented professionals in Sweden as well as ensure full compliance with local employment regulations.
Best Sweden PEOs and Employers of Record
Global PEO has found steady growth since its initial launch. The growing global expansion company provides a variety of integral services for their diverse client portfolio, including strategic advisement and turnkey business openings.
Global advertises affordable options and company entities in your chosen country. This approach makes them a particularly sound choice for companies looking for a quality partner in Sweden. Global PEO’s Sweden PEO services can support recruitment, staffing, all HR functions, and much more, with all of their services being handled by local staff with expertise in the area. Language barriers, cultural nuances, and even the best locations for your offices are all managed with professionalism by their hand-picked staff.
SkyExecutive is a recruitment agency and Professional Employer Organization (PEO) with their own local entity located in Sweden. With their ability to combine recruitment and day-to-day employment solutions for companies looking to expand overseas, Sky Executive provides clients looking to expand their operations into Sweden while providing a strong overall value and a single point of contact.
In addition to their suite of expansion services, Sky Executive is also know for its deep network of local consultants based in Sweden, with that level of local expertise being helpful for organizations looking for a smooth transition into their target market.
With a worldwide client list and helpful expansion resources, GP is a simplified Sweden PEO solution for many mid-market companies. Their workforce support is available for over 170 countries, including in Sweden. Their company provides localized insights and a centralized management style that is efficient for new companies who have relocated and are already working with local experts in Sweden.
If you are looking to expand your business’s operations into Sweden, GlobalizationPedia can help match you with the PEO that best fits your company’s objectives at the strongest value both financially and operationally. Fill out the form below and we’ll use our extensive database of strategic partnerships to provide you with a full breakdown of the best potential PEO matches for your organization.