November 2023 — By Harbor View Advisors
In Q3, M&A activity levels in the Human Capital Management industry softened for the second consecutive quarter. There were a total of 74 acquisitions, a 31% decrease from the 108 deals in the third quarter of 2022. Fundamental sectors, such as Talent Management and Core HR, reached two-year lows in transaction levels. Staffing, a cyclical sector, experienced growth from last quarter, as acquirers are adjusting their focus towards employing executives and qualified legal, business services, and healthcare employees during a tight labor market. Despite economic uncertainty and a market-wide reduction in deal flow, transaction levels in the HCM space remain strong by historical standards.
Learn more about broader trends examined in the HCM space and our spotlight on the HR Technology Conference & Expo.
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