Allison Baum Gates is General Partner at SemperVirens Venture Capital
What is SemperVirens announcing today?
Today, SemperVirens is announcing the establishment of our Executive Advisory Board, which is a select group of ten leading CHROs from some of the most forward-looking and influential companies in the U.S.
What do you hope to accomplish?
We will work closely with the Board to understand, in real-time, how the largest employers in America are thinking about their people. As a venture capital fund, we have access to a constant supply of innovation. Our goal is to connect these innovations with the people, advice, and resources that can help make them a reality and maximize their impact on the way we work.
What unique expertise does this Board provide?
The Board has an incredible track record of successfully leveraging technology to help their employees live, work, and earn better. Their expertise in the implementation and scalability of healthcare tech, financial tech, and workforce technology solutions is incredibly valuable for entrepreneurs who are working to reconcile their ambitious visions for the future of work with the reality of how most people are working today.
Why is SemperVirens interested in this space?
SemperVirens is an early stage venture capital fund investing in healthcare tech, financial tech, and workforce technology. Our mission is to enable entrepreneurs to solve big, complex problems in these areas, as well as provide them the platform they need to implement their solutions at scale. We are living at a unique time in history when we are actively reshaping the future of work, and our passion is to make a dent in that process for the better. This requires understanding how people actually work today, as well as building the relationships that can influence how they work in the future.
What have you learned so far that excites you?
Our Exec Advisors have made it clear that employers of all scale and sizes are actively thinking about the future of work. 2020 was a turning point in shifting focus away from pure productivity, and shining a light on how their employees earn, learn, save, take care of their health, wellbeing, and families. Everyone agrees that all jobs have been transformed by technology, now it is time to leverage technology to improve the lives of the people that are doing the work.
Why do you believe this is important?
The way we work is incredibly broken, and it affects everyone very deeply - after all, the average American will work over 90,000 hours in their lifetime. Companies typically spend 70% of their budgets on their workforce, and yet 80% of employees are so unhappy that it affects their personal lives. Mental health related deaths have tripled in the past generation. Most Americans have little to no savings, in spite of working more than one job at a time. Clearly, the ways we built value in the past are no longer working for us today — and certainly won’t work in the future. Technology’s disruption of jobs is creating irreparable tears in the fabric of our society. As both individuals and as a society, navigating the future of work will rank among the greatest challenges of our lifetimes.
(More on this here: https://medium.com/@allisonbaumgates/investing-in-the-future-of-work-eec30f6455e9)