August 2023 — By Harbor View Advisors
Activity in the HCM space remains strong, albeit softer than the record levels of quarterly transactions recorded in 2021 and 2022. Specific sectors within HCM, such as Core HR, are still gaining investor attention as companies recalibrate their focus towards mission critical solutions. Staffing, a cyclical sector, is down to near-record low quarterly deal count (20 deals), resulting from a looser labor market (the number of US job openings has fallen 18% year-over-year). Despite the decrease in overall M&A activity, our outlook remains optimistic that HCM M&A will remain active from private equity investment and a focus on mission critical and innovative solutions.
Learn more about broader trends examined in the HCM space and our sub-sector spotlight on Sales Training.
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