Thomsons Online Benefits

Last updated
Thomsons Online Benefits
Private Company
Industry Software
Founded 2000
Headquarters London, England, UK
Key people

Stephen Read, CEO [1]


Chris Bruce, Managing Director [2]
Products DarwinTM [3]
Website www.thomsons.com

Thomsons Online Benefits is a global benefits management and employee engagement software company that also provides consultancy services related to reward, workplace pensions and employee benefit programmes. With offices in London, Singapore and Cluj, Romania, the firm employs over 500 staff. [4]

Employee engagement

Employee Engagement is a fundamental concept in the effort to understand and describe, both qualitatively and quantitatively, the nature of the relationship between an organization and its employees. An "engaged employee" is defined as one who is fully absorbed by and enthusiastic about their work and so takes positive action to further the organization's reputation and interests. An engaged employee has a positive attitude towards the organization and its values. In contrast, a disengaged employee may range from someone doing the bare minimum at work, up to an employee who is actively damaging the company's work output and reputation.

London Capital of the United Kingdom

London is the capital and largest city of the United Kingdom. Standing on the River Thames in the south-east of England, at the head of its 50-mile (80 km) estuary leading to the North Sea, London has been a major settlement for two millennia. Londinium was founded by the Romans. The City of London, London's ancient core − an area of just 1.12 square miles (2.9 km2) and colloquially known as the Square Mile − retains boundaries that follow closely its medieval limits. The City of Westminster is also an Inner London borough holding city status. Greater London is governed by the Mayor of London and the London Assembly.

Singapore Republic in Southeast Asia

Singapore, officially the Republic of Singapore, is an island city-state in Southeast Asia. It lies one degree north of the equator, at the southern tip of the Malay Peninsula, with Indonesia's Riau Islands to the south and Peninsular Malaysia to the north. Singapore's territory consists of one main island along with 62 other islets. Since independence, extensive land reclamation has increased its total size by 23%. The country is known for its transition from a developing to a developed one in a single generation under the leadership of its founder Lee Kuan Yew.

Contents

History

Thomsons Online Benefits was founded in 2000 and was subject to a venture capital backed management buyout in 2004 funded by Pi Capital. Thomsons ranked 4th in the Sunday Times BDO Track 100 for 2014 (5th in 2014). [5] It was ranked 86th in the Sunday Times Tech Track 100 listing for 2011 (81st 2010, 72nd 2009, 44th 2008, 54th 2007, 32nd 2006), a sister listing to the Sunday Times Fast Track 100 for Britain's fastest growing unquoted technology companies, [6] and obtained a listing in the EMEA Deloitte Fast 500 in 2007 [7] and 2009. [8] In 2013, the firm was ranked 112th in the Sunday Times HSBC International Track 200 league table. [9]

David Anthony Giampaolo is the chief executive of Pi Capital, a London-based investor club. He is also a noted entrepreneur in the global health and fitness sector. He has been described as “…London’s most networked man” by The Times and other newspapers. He has co-founded or served on the board of several large businesses, including Fitness First, 24 Hour Fitness, Zumba and GlobalFit. He is a trustee of Speakers4Schools and a board member of UK technology firm Smartmatic.

<i>The Sunday Times</i> British weekly newspaper

The Sunday Times is the largest-selling British national newspaper in the "quality press" market category. It is published by Times Newspapers Ltd, a subsidiary of News UK, which is in turn owned by News Corp. Times Newspapers also publishes The Times. The two papers were founded independently and have been under common ownership only since 1966. They were bought by News International in 1981.

The Sunday Times Tech Track 100 is one of seven lists of top performing British companies in a variety of categories. Published each September by British newspaper The Sunday Times in their business section, the lists are compiled by Fast Track, a British research company. For the Tech Track, the top 100 private technology, digital media and telecoms (TMT) companies are ranked based on their average sales growth over the previous three years leading up to the award year.

In January 2013 the US private equity firm ABRY Partners took a majority stake in the company, valuing the company at "close to £100m". [10]

ABRY Partners

ABRY Partners is a private equity firm headquartered in Boston, Massachusetts that focuses on investments in media. Since 1989, the firm has completed over $62.0 billion of leveraged transactions and other private equity and mezzanine investments, representing investments in more than 550 properties.

In December 2017, Mercer acquired Thomsons Online Benefits, which now operates as a wholly owned subsidiary. [11]

Operations

Thomsons Online Benefits provides on-demand employee benefits management software for its clients, who collectively have over 1,000,000 employees, from companies including Microsoft, Cisco, Samsung, Debenhams, City and Guilds and NCR Corporation. [12] Their main software Darwin is deployed in 30 languages and in over 90 countries worldwide.

Employee benefits non-wage compensation provided to employees in addition to normal wages or salaries

Employee benefits and benefits in kind include various types of non-wage compensation provided to employees in addition to their normal wages or salaries. Instances where an employee exchanges (cash) wages for some other form of benefit is generally referred to as a "salary packaging" or "salary exchange" arrangement. In most countries, most kinds of employee benefits are taxable to at least some degree. Examples of these benefits include: housing furnished or not, with or without free utilities; group insurance ; disability income protection; retirement benefits; daycare; tuition reimbursement; sick leave; vacation ; social security; profit sharing; employer student loan contributions; conveyancing; domestic help (servants); and other specialized benefits.

Microsoft U.S.-headquartered technology company

Microsoft Corporation (MS) is an American multinational technology company with headquarters in Redmond, Washington. It develops, manufactures, licenses, supports and sells computer software, consumer electronics, personal computers, and related services. Its best known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. Its flagship hardware products are the Xbox video game consoles and the Microsoft Surface lineup of touchscreen personal computers. As of 2016, it is the world's largest software maker by revenue, and one of the world's most valuable companies. The word "Microsoft" is a portmanteau of "microcomputer" and "software". Microsoft is ranked No. 30 in the 2018 Fortune 500 rankings of the largest United States corporations by total revenue.

Samsung South Korean multinational conglomerate

Samsung is a South Korean multinational conglomerate headquartered in Samsung Town, Seoul. It comprises numerous affiliated businesses, most of them united under the Samsung brand, and is the largest South Korean chaebol.

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