Personal Group signs deal with unnamed global airline

Personal Group announced a landmark contract signing by its pay and reward division on Tuesday, with an undisclosed global airline, for its reward consultancy arm Innecto.

The AIM-traded firm said the three-year contract, valued at £0.65m, stood as the largest consulting contract for the division to date.

Under the agreement, Innecto said it would provide comprehensive reward consultancy services, incorporating the deployment of its proprietary job evaluation tool and the creation of a career pathway interface.

Those services would be implemented across the airline’s operations globally, with the contract guaranteeing around £0.1m in annual recurring revenue.

“A contract of this size with one of the world's leading airlines demonstrates the quality not only of our Innecto team, but also our flexible digital-led offering,” said chief executive officer Paula Constant.

“Organisations across sectors are looking for more effective ways to reward, retain and develop their employees.

“Through the combination of digital tools and expert consultancy, we are well placed to help them succeed in this mission.”

At 1547 GMT, shares in Personal Group Holdings were up 5.3% at 173.75p.

Reporting by Josh White for Sharecast.com.