Reward Gateway to share £65m among staff

first_imgReward 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.”last_img read more