Currently, approximately 6.5% of the world is unemployed1. In 2020, 165 million people did not have enough paid work, and 120 million gave up actively hunting for a job or lacked access to the labor market2. High jobless rates cause social and economic ills such as working poverty which affects one in five of the global working population or 630 million2. The global recruitment market growing at a CAGR of 8.9% bridges the gap between recruiters struggling to find talent and job seekers struggling to find employment4. Finding a job leads to higher revenues, financial independence, and better living conditions.
Linkedin, a subsidiary of Microsoft, is the world’s largest professional network with more than 740 million members in 200 countries and 55+ million registered companies5. As of 2020, recruiters who struggled to find talent listed 14 million jobs on the platform8. With 55 job applications submitted every second, 122 million people have received an interview through LinkedIn since its inception9,5. LinkedIn ensures three people are hired every minute, representing 1.6 million (3*60*24*365) recruitments per year5.
Since 85% of jobs are filled via networking of some sort, Linkedin is leveraging people’s networking abilities to provide economic opportunities to those who have no inherited networks or connections6. 50% of US college graduates are LinkedIn users who can reach out to 87% of recruiters who regularly use this platform5. Last year, LinkedIn provided 400,000+ members mentoring opportunities to ensure that people with equal talent have equal access to opportunity7.
LinkedIn has revolutionized the recruitment industry by allowing all members of the global workforce to be connected with recruiters. LinkedIn is driving more equitable outcomes, reducing inherited social inequality, closing the network gap, and leveling the playfield for people lacking the right connections3. It has also made it easy for companies to vet candidates and hire talent.
Make sure you sign-in or sign-up and make your ratings about the impact described on the planet and society.