HR and payroll provider Ciphr has expanded into employee benefits and wellbeing, with the purchase of reward and benefits platform Avantus, the firm’s third acquisition in 18 months.
CEO Sion Lewis said the purchase will accelerate Ciphr’s growth in the UK market.
Avantus was founded in 2005 and has serves more than 400 businesses globally through its platform FlexGenius and its white-labelled solution MyWorkPal.
It follows previous acquisitions, which include Marshalls in April 2023, now rebranded as Ciphr eLearning, and Shape Payroll in June this year.
Lewis praised the platform’s reputation for creating functionality-rich, people-centric technology.
“It’s redefining and democratising employee benefits as we know it. Giving people greater autonomy to choose or approve the benefits they genuinely want or need, and 24/7 access to manage their choices and see their total rewards statement anywhere, anytime.
“Retaining staff has been a key challenge for UK organisations this year. And we know from customer research that ‘benefits’ are a real value-add and top priority for HR teams – helping to reduce attrition and support employee wellbeing. A strong benefits offer has many advantages and positive effects for businesses, HR teams, and their employees – impacting engagement levels, work/life balance, morale, and productivity. It can also be a deciding factor when people are choosing to join or stay at an organisation.
“Ultimately, people are an organisation’s greatest asset, and if you want your business to grow and succeed, you’ve got to look after them. Employee benefits and rewards are not just a ‘nice to have’: they are integral to running a successful organisation where employees want to work.”
