Becoming increasingly aware of the benefits and rewards of corporate social responsibility (CSR) more and more companies are devoting their time and resources to incorporate CSR activities in their overall strategies. Among other things it has been suggested that CSR can provide competitive advantage for companies in many spheres. The present study investigates the Swedish multinational companies’ success in gaining competitive advantage through CSR specifically in the area of attracting talented employees. A conceptual framework guided by previous research was designed to conduct two case studies of Swedish MNCs, namely Atlas Copco and Boliden. Findings indicate that CSR has positive impact on Swedish companies’ image and reputation and helps reduce and manage CSR-related risks. However, gaining competitive advantage through CSR is dependent on which industry companies belong to. Furthermore, CSR is also believed to help job applicants to identify themselves with Swedish companies and has a positive impact on job applicants’ pursuit of companies for employment. Swedish companies use information about CSR to attract employees but are not certain as to how this is communicated, and the perception is that job applicants are not necessarily aware of companies’ CSR activities.