October 21, 2024

THE BARF: Work Tech Soars: $2.6 Billion Invested in Q3 2024, Trends and Insights

1 hour 5 minutes

Q3 saw a staggering $2.6 billion invested in Work Tech, alongside impactful M&A deals and rising AI trends. We dive into Workday’s UNTAPPED documentary, Walgreens’ game-changing student loan 401(k) match, and SHRM’s major acquisition, reshaping corporate diversity and inclusion initiatives across industries.

In this episode, we look at HR trends, Work Tech investments, AI-driven HR tools, Talent Acquisition strategies, Diversity & Inclusion, layoffs, hybrid work preferences, and future workplace strategies. We discuss key developments shaping the HR landscape and how these innovations will impact the future of work.

Key Takeaways:

Q3 2024 saw $2.6 billion invested in Work Tech, a 20% increase from Q2.

181 work tech deals were disclosed in Q3, compared to 150 in Q2, with early-stage investments driving growth.

M&A activity surged, with 336 acquisitions in the first three quarters of 2024.

Workday’s UNTAPPED documentary follows six young adults pursuing internships at Fortune 500 companies through the Year Up program.

Walgreens announced a 401(k) student loan match, launching in January 2025, to ease the burden on employees with student loans.

SHRM’s acquisition of CEO Action for Diversity & Inclusion strengthens its influence in corporate D&I leadership.

Immigrant workers have fueled 88% of U.S. workforce growth since 2019, highlighting their critical role in labor markets.

Toptal laid off 70% of its engineering team despite positioning itself as a leader in freelance hiring solutions.

AI tools, like SmartRecruiters’ Winston, revolutionize talent acquisition with features like intelligent scheduling and real-time candidate engagement.

Recent college graduates are struggling with workplace professionalism, with 81% of employers noting a lack of etiquette training.

Digital twins and AI-driven agents are transforming HR by automating 80% of repetitive tasks, freeing up time for strategy.

Hybrid work is valued by employees, equating to a 7.6% pay raise for those working remotely.

89.4% of women report their work benefits don’t address needs related to perimenopause, highlighting a major gap in HR benefits.

Chapters

00:00 Introduction and Weekend Recap

02:58 Documentary Spotlight: Untapped by Workday

05:57 Walgreens' Innovative 401K Match for Student Loans

09:01 Work Tech Investment Trends

12:00 Legal Insights: Layoffs During Medical Leave

14:55 The Role of Immigrant Workers in Workforce Growth

17:59 TopTal's Layoffs and the Freelance Economy

20:51 Hybrid Work: Pay Raises vs. Flexibility

23:58 Chatbots and Workplace Civility

26:53 Acquisitions and SHRM's New Direction

30:07 Research Findings on New Graduates' Professionalism

30:34 The Importance of Etiquette Training for New Graduates

36:53 Digital Twins: The Future of Work

40:03 Evolving Definitions of Tech Talent

44:37 Hiring Challenges in the Fast-Paced Job Market

48:29 Addressing Menopause in the Workplace

50:28 Innovations in HR Tech Funding

53:03 AI in Sales Training and Role-Playing

56:26 Advancements in Accessibility Technology

58:40 Modern Payroll Solutions for a Diverse Workforce

Connect with us here:

William Tincup LinkedIn: https://www.linkedin.com/in/tincup/

Ryan Leary LinkedIn: https://www.linkedin.com/in/ryanleary/

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By WRKdefined