PIB Employee Benefits (PIB BE) has acquired benefits platform YouatWork securing its status as a challenger brand in the employee benefits market.
The acquisition, for an undisclosed sum, expands PIB BE’s product portfolio meaning it can offer improved employer options and a more engaging user experience for employees.
The YouatWork platform offers a discount scheme, accessed through its BenefitHut brand, as well as a range of employee benefits from other providers. With more than 20 years in the market, the platform has built up a client base of more than 500 organisations and a network of partners and advisers.
Under the deal, a new, combined technology team will be created, which will be led by PIB EB head of consulting Joanne Neary.
Both companies stated that they are committed to ensuring a seamless transition for existing clients, employees, and stakeholders during the integration process. PIB EB also said that there would not be any immediate staffing or operational changes.
Neary said: “We believe that good technology forms the foundation of a great benefits strategy, and we’re looking forward to evolving an innovative solution that aligns to client strategy and employee needs.”
PIB EB managing director David Skinner commented: “This move enhances our ability to deliver comprehensive benefits solutions to our clients, and provide the market with a platform capable of delivering a strong return-on-investment.”
YouatWork operations director Alicia Aldis said: “With the cost of living crisis still very much a reality for the UK we’re delighted that our mission to make employees pay go further will continue, with our clients gaining access to a greater range of solutions and, importantly, investment in the future development of our platform secured for both our customers and partners.”
