HR and future of work · Industry brief
Top three stories shaping HR and future of work today, written for someone who already works in the industry: regulation, M&A, new entrants, notable filings, and any precedent worth pulling. Cite the trade publication (e.g. trade press, government source, court docket) directly so I can follow up.
← See today's latestAI hiring M&A surges, valuations crater, buyers circle skills tech
AI hiring M&A valuations collapse
Hiring technology buyers are paying half what they did two years ago.
HCM M&A valuations have contracted sharply from pandemic peaks, with deals now closing at one to three times ARR for weaker companies, four to six times for solid performers, and seven to eight times for strong ones—down from the 11-18x multiples seen post-COVID [Quelle: 1WorkTech]. Higher debt costs have shifted deal structure toward equity, earnouts, and less cash at close. Sellers should start conversations now and lead with embedded AI workflows and token efficiency metrics during diligence—both are now standard buyer evaluation criteria.
Activity stays concentrated in employer of record, talent acquisition, frontline workforce tech, and learning platforms through early 2027.
31 AI hiring deals since January
AI-enabled hiring platforms are trading at fortress multiples despite market contraction.
Goldenhill tracked 31 AI hiring-process tool transactions since January 2025, with disclosed deals commanding a median revenue multiple of 9.6x—well above broader HCM averages [Quelle: Goldenhill]. Recent Q2 2026 deals include Phenom's acquisition of behavioral-assessment platform Plum, Greenhouse's pickup of AI voice-interview specialist Ezra, and Personio's buy of recruiting-AI startup aurio. Meanwhile, 81% of US employers have adopted skills-based hiring, up from 57% in 2022, signaling that AI workflows now drive sourcing and early screening at scale.
The gap between capital deployment and actual adoption remains stark: a June 2026 YouGov survey found 41% of UK HR leaders report zero AI usage in their HR function.
CV-based hiring fractures under AI volume
Candidate-application volumes have exploded, breaking traditional hiring workflows.
Application volumes per job opening have surged roughly 250% since 2022, and 46% of candidates now use AI when applying, forcing employers to lean hard on skills-based assessment and automated early screening [Quelle: Goldenhill]. The CV-based hiring model has become unreliable as AI adoption in recruitment accelerates. This mismatch is why acquisitions of assessment, voice-interview, and behavioral-analytics vendors are commanding premium multiples: they are the infrastructure buyers need to triage and rank at speed.
Vendors selling compliance tooling into AI hiring workflows should expect rapid adoption as employers race to defend hiring decisions against bias and discrimination claims.
AI Hiring Technology M&A: 31 Deals Since January 202524 hours ago ... A June 2026 YouGov survey for HireRight found 41% of UK HR leaders report zero AI usage in their HR function, the highest of eight countries surveyed, and only ...goldenhill.international