Degreed, the workforce upskilling platform for one-in-three Fortune 50 companies, has acquired Adepto, a total talent platform that provides visibility and access to the skillsets of current, past, and potential workers. The combination will accelerate Degreed’s global expansion, and add enhanced skills inventories, on-the-job development experiences, and career mobility to the company’s learning experience platform. Terms were not disclosed.
Adepto enables organisations to build private total talent networks that intelligently match internal and external workers to project, gig, and job opportunities that fit their skills and career goals. It also provides business leaders with 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, Adepto has grown by 150 per cent a year for three straight years. It now has more than 40 people, and offices in London, UK, Brisbane, Australia, and New York, USA. Clients include innovative, blue-chip companies like Atos, Capita, and Cisco, as well as public sector employers such as the Queensland Government. Adepto also partners with many of the world’s leading recruitment process outsourcing and managed staffing providers (RPOs and MSPs).
Adepto’s technology will give Degreed’s customers the most complete learning experience platform on the market, with formal, informal, social, user-generated, and now on-the-job development opportunities – all available through one simple, intuitive app. It will also provide deeper insights into the supply and demand for skills in their businesses.
“Our clients and users want more than just an engaging learning experience,” said Degreed CEO, Chris McCarthy. “They want to continuously align their capabilities to new growth opportunities. 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.”
Adepto makes it faster and simpler for business leaders and team managers to sense and respond to shifting demand for skills by integrating data from HCM, applicant tracking, vendor management, ERP, and other systems in which work is managed. In addition to enabling organisational flexibility and cost efficiencies, it is also used to boost worker engagement and retention by making career mobility opportunities more transparent and accessible.
Internal mobility is a big, unmet need in many organisations despite the widespread use of talent management and HCM systems. According to Gartner research, employee turnover due to lack of career growth opportunities costs the typical large organisation $49 million per year. Adepto enables internal mobility by giving workers visibility into in-demand skills along with access to relevant project, gig, and job opportunities across their organisations.
“Adepto will enable Degreed’s customers to unlock a more complete inventory of available skill-sets,” noted 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.”