Workday, Inc. (NASDAQ:WDAY), 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
ExperiencesWith 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.”
About WorkdayWorkday is a leading provider of
enterprise cloud applications for finance and human resources,
helping customers adapt and thrive in a changing world. Workday
applications for financial management, human resources, planning,
spend management, and analytics have been adopted by thousands of
organizations around the world and across industries—from
medium-sized businesses to more than 45 percent of the Fortune 500.
For more information about Workday, visit workday.com.
About PeakonFounded in Denmark, Peakon is an
employee success platform that converts feedback into insights you
can put to work. It makes the employee conversation quantifiable
and actionable to increase employee engagement – not simply measure
it. Peakon’s core belief is that work should work for people. With
the largest standardized data set of employee feedback in the
world, Peakon provides customized benchmarks and personalized
insights to support its mission of helping every employee drive the
change they want to see. To date, Peakon has helped organizations
like Capgemini, The Adecco Group, Delivery Hero, Staples and
easyJet make fundamental changes in how they operate to improve
employee experience and drive better business results.
Forward-Looking StatementsThis press release
contains forward-looking statements related to Workday, Peakon, and
the acquisition of Peakon by Workday. Statements other than
statements of historical fact may be deemed to be forward-looking
statements. These forward-looking statements are subject to risks,
uncertainties, and assumptions. If the risks materialize or
assumptions prove incorrect, actual results could differ materially
from the results implied by these forward-looking statements.
Forward-looking statements in this communication include, among
other things, statements about the potential benefits and effects
of the acquisition; Workday’s plans, objectives, expectations and
intentions with respect to the Peakon business; and the
opportunities and potential of the combined companies. Risks
include, but are not limited to: (i) risks related to our ability
to successfully integrate Peakon’s operations into Workday; (ii)
failure to achieve the expected benefits of the transaction; (iii)
Workday’s ability to implement its plans, objectives, and other
expectations with respect to Peakon’s business and its ability to
help drive employee engagement, improve organizational performance,
foster an inclusive workplace culture, and support rapid change and
growth; (iv) negative effects of the announcement or the
consummation of the transaction on Workday’s business operations,
operating results, or share price; (v) unanticipated expenses
related to the acquisition; and (vi) other risks and factors
described in our filings with the Securities and Exchange
Commission (“SEC”), including our Form 10-K for the fiscal year
ended January 31, 2021, and our future reports that we may file
with the SEC from time to time, which could cause actual results to
vary from expectations. Workday assumes no obligation to, and does
not currently intend to, update any such forward-looking statements
after the date of this release.
Any unreleased services, features, or functions referenced in
this document, our website, or other press releases or public
statements that are not currently available are subject to change
at Workday’s discretion and may not be delivered as planned or at
all. Customers who purchase Workday services should make their
purchase decisions based upon services, features, and functions
that are currently available.
© 2021 Workday, Inc. All rights reserved. Workday and the
Workday Logo are trademarks or registered trademarks of Workday,
Inc. registered in the United States and elsewhere. All other brand
and product names are trademarks or registered trademarks of their
respective holders.
Media Contact:Allison Kubota, Workday
Media@Workday.com
Investor Relations Contact:Justin Furby,
WorkdayIR@Workday.com
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