Welsh bioscience companies are developing innovative products and services based on leading edge technology. They are extremely proud of their staff retention levels. They report factors such as the leading edge nature of their products, company size and culture as contributors to their growth and high staff motivation and satisfaction levels:
"Penn’s reputation has lead them to be in the fortunate position of having low staff turnover, a little under 6% per annum, which when compared with the UK average of 16.1%* is considerably lower," Valerie Ellis - Director of Human Resources - Penn Pharmaceutical Services Ltd
Innovation is embedded in the culture of the Welsh bioscience sector, and research and development is core to many Welsh bioscience businesses. Many of these businesses attribute their growth - and the quality of their software and services - to highly motivated and experienced staff. Wales' universities have been credited by many employers as an important source of high quality graduates.
"More than 80% of the people employed at Simbec are graduates, with more than 25% of those with higher qualifications, including M.Sc., Ph.D., and MD. The stability of the company’s employment record has meant that the skills and expertise have grown within the organization alongside the injection of new ideas and concepts from selective recruitment," Dr Trevor Tanner - Chief Scientific Officer - Simbec Research Ltd
Workforce stability directly impacts a company's 'bottom line', and Wales' excellent track record has already benefited many of its bioscience businesses. Workforce stability is good for business not only in terms of reduced operating costs (such as skills development and recruitment), but also in terms of staff productivity and satisfaction, and ultimately product quality.
"Recruiting is usually very easy because of the university and most of our staff tend to stay with us, consequently staff turnover is low," Professor Stuart Woodhead - Vice Chairman - Molecular Light Technology Research Ltd.
