Employees

Those working at VP Bank benefit from a modern working environment, attractive employment conditions, remuneration in line with market conditions and flexible working time models.

Recruiting and retaining talent

Attractive employer brand

The lack of skilled professionals is not a new phenomenon; however, the challenge of finding the right talent and qualified staff continues to intensify. That is why VP Bank regularly invests in strengthening its appeal as an employer, using modern recruitment solutions and a multi-stage recruitment process and running targeted multi-channel campaigns.

The focus of the bank’s employee strategy is not only on recruitment but also the long-term retention of its employees. VP Bank is particularly proud of its long-serving employees. In 2024, five people celebrated their 35th anniversary, and one person celebrated their 40th. The average length of service at the bank is 8.2 years.

VP Bank is committed to paying fair, competitive compensation in line with the market. Fixed compensation varies according to function and related requirements, whereas variable salary components are geared to the success of the business and individual performance. In addition, employees who have been at VP Bank for three years or more can purchase a certain number of VP Bank shares per year at a preferential price. In the reporting year, 369 employees participated in the equity participation programme for employees with a discount of 50 per cent on the share price, which corresponds to a participation rate of 76 per cent.

In addition to financial incentives, employees also receive other attractive benefits depending on the location. These benefits range from sporting and social activities and events to the possibility of purchasing additional days of leave, as well as length of service benefits, offers designed to promote health, subsidised canteen meals and attractive offers in the mobility area.

At the end of 2024, VP Bank employed 1,024 people. The headcount thus fell by 61 employees compared to the previous year. Adjusted to reflect full-time equivalents, this corresponds to a headcount of 945.4, which has fallen by 61.8 positions. This decline is connected with the implementation of a comprehensive package of measures designed to increase efficiency and accelerate growth. It mainly affects roles with no client contact at locations in Liechtenstein and Hong Kong, from which VP Bank withdrew in 2024 for economic reasons.

Total number of employees (full-time equivalents)

Headcount by location

Decline in the turnover rate

The turnover rate for 2024 was 7.6 per cent, compared to 11.2 per cent in the previous year. This was unintended turnover, meaning the exits were initiated by the employees. The lower turnover rate was due in particular to a significant reduction in turnover at the bank’s Liechtenstein and Luxembourg locations.

Investing in training and development

Individual training and continuing education

VP Bank fosters the strengths of its employees, offering ongoing development opportunities through both internal and external continuing education programmes.

In the reporting year in Liechtenstein, 22 people (previous year: 17) completed a job-related course of studies with a recognised diploma, while another 56 people (previous year: 48) were participating in external continuing education at the end of 2024. The average amount spent on external continuing education was approximately CHF 10,000.

Talent Academy

Fostering talent across all hierarchical and age levels is an important objective of the Talent Academy.  The six-month in-house programme enables VP Bank to empower talented employees to increase their personal influence within the organisation, play their part in shaping the culture of VP Bank and drive strategic thinking and innovation.

The programme was redesigned in 2024, with a strong focus on the strategic and cultural impact of the participants in terms of the corporate values “we achieve”, “we explore”, and “we care”. In 2024, 13 employees from the bank’s Liechtenstein, Zurich, Luxembourg, Singapore and BVI locations took part in the Talent Academy.

Trainees

Each year, VP Bank hosts up to seven commercial and IT trainees at its locations in Liechtenstein and Switzerland. During their day-to-day work, they are supervised by certified vocational trainers and switch workplace every six months. This ensures the trainees get a comprehensive insight into the tasks of a bank and are fully prepared for their final apprenticeship examinations. In the dual education system that combines business and vocational school, trainees are able to organise their own projects themselves. In 2024, four trainees completed the commercial apprenticeship.

Secondary school and university graduates

With its graduate programme for university graduates and bank entry programme for secondary school graduates, VP Bank offers attractive opportunities for getting started in the financial sector. The programmes give young, talented individuals the opportunity to further their knowledge in selected areas and participate in specialised and foreign internships in preparation for a defined target function after 18 months and take their first career step. At the end of 2024, three people were enrolled on the graduate programme for university graduates, while two people were enrolled on the development programme “Bank Entry for Secondary School Graduates”.

Fostering diversity

Broad cultural diversity

Variety and diversity are an integral part of VP Bank’s corporate culture, and this is reflected in the broad cultural diversity of its employees. As of the end of 2024, 1,024 employees from 46 nations worked at VP Bank.

Proportion of men and women

As of the end of 2024, VP Bank employed 411 women and 613 men. This represents a 40.1 per cent proportion of women, which is high for the sector. The proportion of women in management positions across all management levels was 23 per cent, while the proportion of men was 77 per cent. Of the seven Members of the Board of Directors, two are women.

As a member of the Advance business association for gender equality, VP Bank promotes the exchange of views and information and the professional development of women. Advance’s mentoring programme offers a unique opportunity for personal and professional growth by bringing together female mentees with high potential with mentors from member companies. As a member company, VP Bank had two mentees on the programme at the kick-off in 2024. The bank also signed the Luxembourg Women in Finance Charter for 2024.

Employee statistics

Equal pay

In 2023, VP Bank carried out a pay equality analysis at all locations together with an external, qualified partner. This analysis confirmed that VP Bank complies with the requirements for equal pay. The bank received the SGS “Fair-ON-Pay” certificate for its efforts in 2024.

Building a corporate culture

Corporate values in practice

VP Bank places great importance on a culture that promotes collaboration across teams and locations and fully embraces its corporate values: “we achieve”, “we explore” and “we care”. In 2024, VP Bank launched a new employer branding campaign with stories to make these values more visible and tangible. The heart of the campaign is everyday stories. Each story has a testimonial that refers to one of the three values and is published every month on LinkedIn, Instagram and XING.

Employee satisfaction

For VP Bank, it is essential that employees feel connected to the business. It therefore conducts regular surveys in order to measure employee satisfaction.

The last survey was carried out in 2022 with the support of an independent consultancy firm. The response rate was 85 per cent. Measures have been developed and implemented over the last two years based on the feedback. Corporate culture was identified as a key driving force.

In the summer of 2024, around 150 employees were interviewed in cross-departmental and cross-location focus groups, and around 35 members of key management were interviewed individually, in order to work out together what behaviour and mindset should be practised at VP Bank in the future. A compass was derived from the cultural vision showing the behavioural attributes that are intended to help all employees contribute to an attractive work culture.

In addition, new communication platforms such as the CEO dialogue and cultural workshops were established to strengthen direct dialogue with employees.

Sports and cultural associations

The VP Bank Sport and Culture Association offers an average of 48 sporting and cultural events every year. These include the Business Run Liechtenstein, the Liechtenstein Company Sports Association football tournament, the Snow Weekend, company darts and Jass championships and tennis and yoga courses. The new “Art at Lunchtime” series in collaboration with the VP Bank Art Foundation and the culinary side events at the Vaduz Food Festival are also very popular among employees. All VP Bank Group employees are members of the Sport and Culture Association, which was founded in 1974 and thus celebrated its 50th anniversary in 2024.