Workday, Inc., a leading provider of enterprise cloud applications for finance and human resources, has finalized its acquisition of Peakon ApS, an employee success platform specializing in converting feedback into actionable insights. This acquisition marks a significant addition to Workday’s offerings, integrating a continuous listening platform that grants real-time visibility into employee experience, sentiment, and productivity. Peakon will operate under the name Peakon, a Workday company, and report to Workday Vice Chairman Tom Bogan.
Amidst the evolving landscape of work environments—be it remote, hybrid, or on-site—the focus on employee experience has heightened for businesses. Companies are actively seeking sustainable ways to engage employees, ensuring they feel heard, supported, and valued. Exceptional employee experiences not only foster innovation and customer satisfaction but also elevate organizational performance and profitability.
Following the acquisition, Workday customers can anticipate deeper insights into their employee experiences, along with real-time data capturing key HR insights and their underlying reasons.
- Monitor Employee Sentiment: Business leaders will be equipped to gauge the evolving workplace dynamics—such as remote or hybrid setups—and their impact on employee experiences. This insight will aid in foreseeing potential impacts on company culture and guide strategic adaptations.
- Nurture Employee Development: Managers can align developmental opportunities with individual employee goals, identify potential risks, and respond promptly to support retention and productivity enhancements.
- Enhance Diversity Insights: Leaders, including CHROs and Chief Diversity Officers, will gain a better understanding of diversity and belonging within their organizations, fostering inclusive and equitable experiences for all.
Tom Bogan, vice chairman of Workday, emphasized the importance of centring efforts around employees to adapt to the evolving world of work. He expressed confidence in collaborating with Peakon to provide customers with the necessary tools and insights for stronger workplaces. Phil Chambers, co-founder and CEO of Peakon, highlighted the alignment in values between the two companies, emphasizing their shared belief in the significance of employee support and acknowledgement at the workplace.
Industry professionals, such as Susan Treadway from LogMeIn and Stacia Garr from RedThread Research, echoed the sentiment of the acquisition, emphasizing the critical role of understanding employee needs and the potential for Workday’s integration of Peakon to enrich customer experiences. The acquisition signifies Workday’s commitment to augmenting its capabilities by prioritizing employee-centric solutions in today’s dynamic work environment.
