Workforce stability directly impacts upon a company's 'bottom line', and Wales' excellent track record has already benefited many of its financial services companies. 

Attracting and retaining staff is not only good for business in terms of reduced operating costs, it impacts directly upon the quality of the service being delivered.

“One of the reasons we established an office in Cardiff almost 20 years ago was because we were reassured that we would be able to employ highly skilled, motivated and professional people. Time has showed that our early views have been proven right. Our attrition rates are low when compared with other UK offices. This not only reduces our training and development costs, but also ensures that our customers are able to rely on long-term experience and established relationships which gives us a competitive edge.” Mark Winlow, managing director, Zurich Personal Lines.

Welsh financial services companies are proud of their staff retention levels and report factors such as the challenging nature of the work, the innovative projects being undertaken and company culture as directly impacting upon the retention rates and staff satisfaction.

“We have set up a centre of excellence in legal expenses insurance that is unique in the UK. We need extremely talented, intelligent individuals and have a team of specialist in Cardiff, Many of whom have over 20years of experience in the industry, who work hard to introduce technological innovations to keep pace with changes in the marketplace,” John Mullin, managing director, Composite Legal Expenses.