Reward Gateway is to share £6.5 million among its employees following a deal that will see technology investor Great Hill Partners buy the organisation from current owners Inflexion Private Equity.
The £6.5 million sum will be shared among all 269 employees below board level.
Staff below management level hold a 5% stake in the organisation through Reward Gateway’s employee share plan.
The more than 100 employees that have joined the organisation since the last share allocation in 2014 will receive a bonus equating to one month’s salary.
This is the second time that the employee engagement software provider has distributed a shared payment among its employees. It shared more than £1 million among 70 staff members in 2010 when Inflexion acquired a majority stake in the organisation.
A third such programme will launch in the next few weeks.
At present, management and staff have a 40% shareholding in the organisation through its shared ownership scheme. This will increase to 45% once the deal is complete.
The deal with Great Hill Partners aims to drive the expansion of Reward Gateway’s product portfolio and presence in additional geographical markets.
Glenn Elliott (pictured), chief executive officer of Reward Gateway, said: “Employee engagement has become central for a number of forward-thinking successful organisations.
“They have realised that engaged employees make better decisions, as they understand more.
“Engaged employees are more productive, as they enjoy what they are doing, and engaged employees innovate more, as they want their organisation to succeed.”
The feeling in the office was great yesterday – I think the party will carry on into the weekend. Super excited for the next chapter
Tip 101 on how to delight your employees; run an Employee Share Scheme. Lots of happy faces at Reward Gateway this week!
Yesterday was life-changing, still can’t believe how much Reward Gateway shared with all employees!
A huge week for us at Reward Gateway but an even bigger journey ahead for our clients and our products!
What a great time to be at Reward Gateway, couldn’t be more excited to be on board for this next phase!
This was a magnificent day for all of us at Reward Gateway and is another example of company success being shared with everyone at RG – love working here.
More than a good news! It’s a honour to work with Reward Gateway. Looking forward for the next chapter!
What an amazing time to start my Reward Gateway journey. Really looking forward to seeing what the future holds 🙂
The Reward Gateway ESS has made a lot of people’s dreams come true this week. Truly amazing benefit!
I keep pinching myself, as I still can not believe me and my friends all across the globe have been given an incredible reward by an fantastic business! Season 2 at RG has been a pleasure to be apart of, Season 3 is going to be bigger and better, bring it on!
A massive achievement! Can’t wait to see what’s next and for the journey ahead.
Great news for RG staff but they really need to review their pricing structure for third-sector customers, they are the most expensive provider out there.
Fantastic news for RG – Very proud to be part of this exciting chapter and can’t wait to see what happens in the future!