Following the news that the Admiral Insurance is to create another 261 jobs spread across it bases in Newport, Cardiff and Swansea, Plaid Cymru’s AM for South Wales Central, Leanne Wood said:
“This is welcome good news for the Welsh economy. Since the start of the global recession, we are used to hearing bad news on the jobs front so I am glad to hear about a Welsh company that is bucking the trend and enjoying sustained success and growth.
“What is particularly great is that Admiral is a company well-known for treating its workers well, which should serve as a lesson to many other companies or organisations with less than favourable reputations for good staff relations.
“An example of Admiral’s good practice is when staff received an average windfall of £37,000 due to their share holdings when a 10% stake in the company was sold six years ago. Such a payout to staff was possible because staff are regularly awarded shares when profits rise.
“Another similar-minded company is John Lewis – also doing well in the recession. Perhaps it is no coincidence that they are also known for treating their workers favourably.
“Both examples demonstrate that workers do not have to suffer during difficult economic times. Worryingly, too many firms look to squeeze their employees in some way or other in the first instance when times get tough.
“Admiral and John Lewis show that investment in staff can result in better returns.”
