Workday, a leading provider of enterprise cloud applications for finance and human resources, has announced it would acquire Peakon for $700 million. Peakon is a platform intended to improve employee satisfaction through frequent surveys and data aggregation.
Peakon works to turn employee feedback into quantifiable actions and benchmarks. It helps companies measure their progress towards improving employee sentiment.
The surveys are largely automated in not only which employees are asked, but the questions as well. They provide frequent data points which have become especially important since employees have been at home, so gauging how the workforce is feeling has become more difficult.
Workday is hoping to supercharge Peakon’s growth due to the HR’s giant’s massive scale.