Press release: Workday completes acquisition of Peakon
The acquisition of Peakon, organisations will have access to a continuous listening platform.
Workday, a leader in enterprise cloud applications for finance and human resources, has completed its acquisition of Peakon ApS, an employee success platform that converts feedback into actionable insights. With Peakon now part of Workday, organizations will have access to a continuous listening platform, including real-time visibility into employee experience, sentiment, and productivity, to help drive engagement and improve organizational performance. The company will operate as Peakon, a Workday company, reporting to Workday vice chairman Tom Bogan.
Harnessing the Voice of Employees to Create Better Experiences
With companies embracing new and varied work environments -- whether it's remote, hybrid, or on the frontlines -- employee experience is at the forefront of business agendas. Organizations are seeking continuous ways to engage employees so they feel heard, supported, and included, while also achieving a competitive advantage, as exceptional employee experiences can lead to increased innovation, customer satisfaction, and profitability.
With Peakon now part of Workday, customers will gain richer insights into their employee experience gaps, as well as real-time data that captures not only key HR insights and opportunities, but also the ‘why’ behind them. Together, they’ll enable organizations to:
- Keep a Pulse on Employee Sentiment. Based on changes in the workplace, like remote, in-office, or hybrid work environments, business leaders will be able to help gauge how experiences are evolving and their impact. This will also help them stay informed of potential future impacts on company culture, and when and where they need to pivot.
- Foster Employee Growth and Productivity. Managers will be able to match development opportunities with employee goals and objectives. Managers will also be able to identify potential risks, understand whether they are a trend or an isolated incident, and respond in a timely manner to help support employee retention and productivity.
- Gain Deeper Insights on Diversity. Business leaders, including CHROs and Chief Diversity Officers, will be able to have a better pulse on diversity but also belonging, which will help foster inclusive and equitable experiences and deliver greater opportunities for all.
Comments on the News
“To succeed in today’s changing world of work, it’s more important than ever to put employees -- and their experiences -- at the center, helping identify what motivates and is needed to support them,” said Tom Bogan, vice chairman, Workday. “I’m incredibly impressed by what the Peakon team has accomplished in just a few short years -- from its products to its exceptional culture -- and I see great opportunity in working together to provide customers with the tools and insights they need to support employees and build stronger workplaces.”
“Six years ago, we founded Peakon on the belief that an organization’s most valuable assets are its people, and that people do their best work when they feel heard and supported at work,” said Phil Chambers, co-founder and CEO, Peakon. “As part of Workday, we'll accelerate and extend that belief – providing organizations with more of the real-time visibility they need to support their employees and build better businesses.”
“I cannot think of a better combination of two best-in-class companies to achieve the perfect intersection of our engagement and human capital management data insights,” said Susan Treadway, senior director, HR Operations, LogMeIn. “This partnership will allow us to supplement our continuous listening efforts, to identify correlations associated with employee life cycle experiences, and to unlock the potential of our employees’ ability to thrive.”
“Understanding what matters most to employees and why it matters is business critical in today’s world of work,” said Stacia Garr, researcher and thought leader on talent management, and co-founder, RedThread Research. “Organizations need to harness the voice of employees, understand key issues, and take meaningful action. Workday’s acquisition of Peakon has the potential to bring this powerful focus on employee experience to customers today.”