19th May 2008 07:00
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Press Release |
19 May 2008 |
Motivcom plc
("Motivcom" or "the Company")
Launch of Flex Bank
Motivcom plc (AIM:MCM), a leading provider of a range of business services to assist major blue chip corporate clients to win and retain customers whilst incentivising and retaining employees, is pleased to announce the introduction of Flex Bank, an online retail voucher administration product, as part of the employee benefit schemes run by The Voucher Shop.
The Voucher Shop was acquired by Motivcom in February 2006 and is one of the leading suppliers of services into the flex voucher market in the UK. Flex voucher schemes allow a company's employees to make substantial savings on their annual household expenditure. The Flex Bank is a new and efficient way of managing the supply of retail vouchers as part of a flexible benefits scheme.
In conventional schemes employees opted to commit to a monthly set value and to specific vouchers for the year, and received the appropriate discount on their face value. The new scheme can be managed online, giving employees greater choice and flexibility. Employees can opt to deposit a fixed amount into Flex Bank each month then draw down any type or value of discounted vouchers at any time.
John Sylvester, Executive Director of Motivcom, said: "This new scheme allows employees an instant choice from over twenty high street brands such as Marks & Spencer and Sainsbury's through simple online administration. A calculator also works out the savings on their specified vouchers, giving them control over what they save and spend. This allows employees to manage their monthly expenditure more efficiently and save up for seasonal extras such as Christmas or holidays. When personal financial considerations are paramount in the thoughts of so many people, as they are now, such savings can be particularly important. Companies that offer flexible voucher schemes typically see greater employee loyalty and retention - they can also directly benefit from a more motivated work force."
The flexible benefits market has grown by 15% in the past three years. Such benefits are now offered by 19% of UK employers to all staff, and to some staff by a further 8%. Flex Bank complements existing Flex Voucher and Spree Flex products to provide an unrivalled range of savings solutions for this growing market.
- Ends -
For further information:
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Motivcom plc |
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Sue Hocken |
Tel: +44 (0) 1908 608 000 |
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www.motivcom.com |
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Grant Thornton |
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Philip Secrett / Daniela Amihood |
Tel: +44 (0)207 383 5100 |
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www.gtuk.com |
Media enquiries:
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Abchurch Communications |
Tel: +44 (0) 20 7398 7700 |
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Gareth Mead |
Tel: +44 (0) 20 7398 7710 |
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Jack Ballantyne |
Tel: +44 (0) 20 7398 7714 |
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www.abchurch-group.com |
Notes to Editors:
Motivcom plc is a leading provider of a range of business services to assist major blue chip corporate clients to win and retain customers whilst incentivising and retaining employees. Motivcom maximises the performance of approximately 600 clients through motivation, communication and sales promotion services which drive improved staff productivity and sales, whilst providing cost savings through better staff retention and reduced absenteeism.
Motivcom is cash generative, profitable and has a strong, progressive dividend policy. The diversity of its services underpins a robust business model that is resilient to economic cycles. The management team has delivered over 30% year-on-year growth as a public company following a strong organic and complementary acquisitive growth strategy.
Motivcom plc is based in Milton Keynes, UK. It joined the AIM market of the London Stock Exchange in August 2004 under the name P&MM Group plc and was re-named Motivcom plc (AIM: MCM) in March 2006.
Related Shares:
MCM.L