For our fifth part in our #disruptHR series, Faye Holland, our disruptHR lead blogger, interviews Kasper Hulthin, Co-founder of Peakon.
Faye Holland, disruptHR lead blogger, interviews Kasper Hulthin, Co-founder of Peakon, on their incredible year to date and how their solution if a dynamic engagement solution not to be ignored.
FAYE: Kasper, why don’t you start with a quick explanation of what Peakon does?
Kasper: At Peakon our mission is to provide the insights that enable everyone in an organisation to reach their full potential. This starts with our engagement product, launched in January 2016 and used in more than 150 businesses across Europe and the US. Peakon is trusted by established enterprises and growing startups for delivering insights that HR, C-level executives and managers throughout the organisation, can action and see measurable improvements. Our unique algorithm distills the pulse-survey responses of thousands of employees into clear management priorities in real-time, while enabling comparisons between departments, locations and more, along with industry benchmarks. By automating and removing the admin burden of surveying, we’re supporting HR’s drive to become more strategic – giving this time back to work with business leaders on the issues that matter to employees. Making engagement a data-driven, ongoing, and shared effort is essential, Peakon fulfills these needs with one integrated platform.
FAYE: You were one of my top 10 from the London HR Tech event earlier this year so I’m pleased to see you here again in Paris. Tell me why did you decide to take part in disruptHR again and what would you like to achieve as a result of your participation?
Kasper: Since launching earlier this year we’ve built up some fantastic momentum, bringing hundreds of companies onto Peakon and helping them take a fundamentally new approach to engaging their employees. We really enjoyed our time at the London event, look forward to meeting more interesting people this time around, and hopefully doing well in the competition!
FAYE: You talk in your video (https://www.youtube.com/watch?v=rhT3nv-6K70) about how employee engagement is a company-wide responsibility. Can you share with me some examples of where you have seen this in practice using your solution?
Kasper: Using Peakon, all the people managers in a company get a real-time dashboard that shows how engaged their employees are, trending topics, how they compare against the rest of the organisation, and the priorities they should work on. This is very different to the old way, where three months after your annual survey, HR or a consultant would pass down some quite high level findings. Engagement is no longer something abstract to these managers, it becomes something tangible that you can measure and improve on today. We have many clients who use Peakon’s engagement scores as their management KPIs. Some, like FlightCar (a car sharing technology platform recently acquired by Mercedes Benz) even openly use these scores in all hands meetings and managers started to compete on them. Imagine that, managers competing not on how much they can squeeze out of their teams or who appears the most authoritative, but instead who provides the best experience for their employees!
FAYE: What makes your product unique?
Kasper: The only engagement analytics platform that uses machine learning to avoid survey fatigue. Peakon learns organizational norms, to understand when and which questions should be asked to employees. The pulse surveys Peakon uses to collect employee feedback are dynamic – meaning should an employee express significant dissatisfaction in response to a particular question, the next question they receive (in the same pulse survey) will delve deeper, to instantly provide more detailed insights to managers without requiring another survey.
Not only does Peakon automate pulse surveying, the platform’s interactive manager dashboards provide actionable recommendations for how to improve engagement. Using predictive analysis, Peakon can go beyond simply displaying results and charts, to provide an engagement action-plan that’s unique to every team in a company. For example, what management practices or aspects of the company culture need to be worked on to increase engagement. Also, which teams need extra focus to avoid potential retention issues. Without bringing in a management consultancy (who cannot operate on a real-time basis as Peakon does), no other product can offer this level of strategic insight.
FAYE: What is your pricing model?
Kasper: It’s quite simple: €4 per employee, per month, billed annually. For organisations over 1000 we then have enterprise pricing. This of course includes instant use of the platform, but also implementation, manager training, and ongoing support.
FAYE: How do you support your clients post implementation?
Kasper: First we offer materials and in person training for the people managers of the organisation, or the training managers who’ll run this process in the company. This ensures everyone from HR leaders to line managers can make use of the insights from Peakon and see how they’re improving. We also walk through the analysis with each of our clients on a regular basis to help with the clients’ action planning. When our clients want to bring their own data from others sources onto the platform, we support this too. For example, you want to measure whether engaged employees deliver higher customer satisfaction, bring in more sales revenue, or have fewer sick days. All this is possible in Peakon, and so we work with each client to make sure they get the insights they want.
Company size: 20
Based: Two offices: Copenhagen and London
Key customers: Opera Software, Delivery Hero, Urban Airship, AppFolio, Wooga, Tradeshift, Secret Escapes
Target industries: Technology, Finance, Agencies
What function within HR is your product designed for: HR directors and HR business partners, use Peakon to understand engagement across the organization and to collaborate with leadership teams and managers to act on the insights from Peakon.
Kasper Hulthin has built his entrepreneurial career on improving how millions of people experience work every day. As a co-founder of Podio, an online collaboration software, he led the company’s sales growth during its startup phase before becoming overall director of the Podio product line after its acquisition by Citrix in 2012. In 2015 he took the leap into foundership once more starting Peakon, an engagement analytics platform. As head of the company’s business development organisation he introduces businesses to the application of real-time data and predictive analysis to their people management processes.
Twitter: @peakonteam @hulthin