When employees don’t see career opportunities at their current company, they leave; this turnover costs the typical enterprise $49 million per year, according to Gartner research.
Both Degreed and Adepto aim to help businesses meet employee development needs, by providing more insight into the skill level and trajectory of individual workers, and the workforce as a whole, so that training and opportunities can be created to match certain goals.
“Our clients and users want more than just an engaging learning experience. They want to continuously align their capabilities to new growth opportunities,” expained Degreed CEO, Chris McCarthy. “To do that, they need real-time insights about the skills, experiences, and interests of all their workers — not spotty data from performance reviews or inferences from HCM systems. They also need a way to fluidly connect people to the right roles.”
Adept provides easy-to-use tools to track and access the skill-sets and interests of their entire pool of available talent — current and past employees, as well as contractors, freelancers, consultants, and potential new hires. Founded in 2013, the UK company has grown by 150 percent for three years in a row.
“Adepto will enable Degreed’s customers to unlock a more complete inventory of available skill-sets,” added Degreed’s Chief Experience Officer, Kat Kennedy. “That data is invaluable for benchmarking capabilities and optimizing investments in upskilling and reskilling. But it can also help to augment or inform crucial business processes like workforce planning, talent acquisition, and performance management.”
Adepto founder and CEO Chris Milligan said: “Adepto and Degreed coming together will empower businesses to meet market demands more efficiently. We have always worked with organisations to better mobilise their Total Talent. Now, with Degreed’s LXP and skills measurement capabilities, we can also provide customers with end-to-end solutions for upskilling and transforming their workforces — cost-effectively and at scale.”
Specific terms of the deal were not disclosed.