Partnering with Great Place To Work has enabled Admiral Group to measure and invest in its workplace culture throughout the firm's growth journey, from a small-sized organisation to Wales’ only FTSE 100 company, currently valued at £8bn. But the benefits of this recognition go far deeper than just being acknowledged as an outstanding workplace for all.
Surpassing the benchmark required for Great Place To Work certification by 20 percentage points on average over the last two decades, Admiral Group has been ranked a UK’s Best Workplace every year since the list was first published in 2001. It is one of only two companies to have achieved this milestone in the UK (the other being Gowling WLG UK LLP). In 2024, Admiral also ranked among the Top 25 World’s Best Workplaces.
So, what do Admiral’s people say about the place where they work? When asked in the confidential Trust Index survey by Great Place To Work:
- 95% of Admiral’s employees say they feel welcomed when they join the company;
- 94% believe they work for an organisation that cares about diversity and inclusion;
- and 90% agree that they work for a company where “people care about each other”.
It’s no coincidence that Admiral’s commitment to being a best workplace has gone hand in hand with its rise to be in the top echelon of its sector – even in times of crisis. When the global Covid-19 pandemic hit in 2020, Admiral employees were still paid their full salary, and the group set up a £6m Admiral Support Fund which predominantly provided funding and support for charities and community projects in South Wales.
Despite the challenges of 2022 (such as the Ukrainian-Russian war leading to high inflation and FCA pricing reforms), the group continued to grow overall, strongly in places, and had become increasingly diversified. Employee engagement scores remained at or above pre-pandemic levels and Best Workplaces rankings continued to be industry-leading.
“Looking ahead, we remain well-positioned for continued financial success,” says Milena Mondini de Focatiis, group chief executive officer of Admiral Group. “This is the 24th consecutive year we’ve been recognised by Great Place to Work in the UK. This is testament to our colleagues and our very special culture. We believe that people who like what they do, do it better, and I’m so grateful to all my colleagues for their enthusiasm, their passion and empathy with customers, which makes Admiral a fantastic place to work. Because of their hard work, they have been an instrumental part of our financial strength and our success so far.”
It’s not just Admiral where this is happening. The latest study from Great Place To Work shows very clearly that the benefits of being recognised as a Best Workplace are far-reaching and touch on many key drivers of business success. These range from excellent levels of employee engagement and retention to significant financial returns on investment, which are far, far better than the overall market performance.
Why a Great Place To Work = great performance
Culture matters. As the global authority on workplace culture, you might expect them to say that. However, Great Place To Work also has the evidence to prove it, above and beyond the experience outlined by Admiral Group.
Its latest report, The Culture Dividend, shows that employers who are committed to building organisations that are focused on people over profits perform more than four times better than those that don’t.
Be it attracting talent, nurturing and retaining it, or having employees who are happy to share their positive experiences with others, in every case, workplaces focused on their people are hives buzzing with positive energy, increased productivity and faster innovation.
For example, when it comes to recommending a workplace to friends and family, 83% of employees who work in certified ‘great’ companies accredited by Great Place To Work would do so – compared to just 61% of employees at other organisations. At the same time, 89% of those employed by certified workplaces say they are “proud to tell others I work here” compared to just 67% at other organisations. Employees at certified firms are also far more likely to trust their leaders. Trust in leadership stands at 83% (vs 56% at other companies).
These figures have a significant impact on business performance. Research by the London Business School’s Dr Alex Edmans shows that the UK’s Best Workplaces perform more than four times better than the market overall. That’s the equivalent of a return of 1,047% (for a value-weighted portfolio) compared to just 231% for the FTSE All-Share compared over a similar period.
A passion for people
To conclude, culture clearly does matter, and is more than just a mere slogan or badge. Those organisations that are committed to building themselves around their people perform better than those around them who are not. In organisations where diversity and inclusion are seen to be more than just sentiments, workforces are far more likely to be proud of where they work, be positive about their employers when speaking to others, and trust their leaders. So wouldn’t you like to join them?
To find out more about how your organisation can become certified by Great Place To Work, visit www.greatplacetowork.co.uk/certification.
To download The Culture Dividend report, click here.
[SF3]Hyperlink: https://www.greatplacetowork.co.uk/the-culture-dividend
[SF4]Hyperlink: https://www.greatplacetowork.co.uk/the-culture-dividend
