Folksam
Submitted by Garry Cronan on October 15, 2007 - 2:14pm.
Folksam | Insurance | Sweden | People | Principles | Environment | Principles/CSR
Folksam is a Swedish mutual insurance company that insures one in two people in Sweden.
Global 300 ranking:
65Number of members:
4,000,000Number of employees:
3,563Gender Diversity:
49% of employees are femaleTurnover:
USD $: 1,127,079,611Type of Co-operative:
MutualDate founded:
1908Operating Countries:
Sweden
Website:
People
Diversity and Equal Opportunities: Folksam’s managers attend a series of seminars on measures against discrimination at work on the grounds of ethnicity, religion or other factors. The ‘Wheel of Diversity’ project creates a climate for spreading knowledge and experience of ways to leverage diversity as a growth engine for companies in the Stockholm region. 87% of employees agreed with the statement, “In my team/department men and women are treated with equality.”
Training and Development: Mentoring programme initiated with Scribona (the Nordic region’s leading distributor of IT and communication products). This programme provides help and support with employees’ career planning with a view to increasing internal mobility.
Communications: Publication ‘Folksam Vision’ describes the organisation's role as a Mutual, its aims and visions and how to achieve them.
Additional Employee Health Services: Managerial staff are encouraged to take parental leave, during which employees are paid 90% of their normal salary. In 2005 the whole of Folksam was again awarded a health diploma by the Swedish Federation for Company Sport. Some workers have been trained as health ambassadors to support and motivate their colleagues to take part in wellness programmes.
Absenteeism Reduction Methods: Procedures and signalling systems for early identification of workers at risk of chronic illness.
Other statistics:
- Top Twenty in Sweden’s Best Workplaces
- Employee Turnover: 2.6%
- Gender Diversity: 49%
- Percent Female in Management: 42%.
Principles
Values: Security, commitment, compassion and professionalism.
Vision: “We work for a long-term sustainable society in which the individual feels secure.”
Socially Responsible Investing: Folksam’s decisions on the companies it invests in are based on ethical investment criteria. They employ positive, supportive investment criteria relating to human rights and the environment and Folksam will not invest in companies providing tobacco products.
Environment
Green electricity: 3 years ago, Folksam began using ‘green’ electricity (BRA MILJÖVAL-EL) in its properties, at a stroke reducing carbon dioxide (CO2) emissions from 220 tonnes to 15 tonnes a year.
Standards: Part of Folksam’s operations (in motor vehicle and building claims, and traffic and safety research) are environmentally certified to ISO 14002.
Research: The Folksam Climate Index, now in its 9th year, measures the CO2 emissions of 270 enterprises and their actions to reduce emissions.
Reuse: Folksam saved SEK 50m by reusing original parts and repairing plastic parts and car windows. The total saved by these practices has been SEK 250m over the last 5 years.
