$80M funding round will allow Handshake (@joinHandshake) to continue to invest in creating new platform features that will further help students develop the relationships and skills they need to build their career. A tranche of this venture financing will be invested back into an Early Talent Recovery Fund, launched exclusively in the UK.
The skills gap – where organisations struggle to find skilled employees, particularly at graduate level – is well known and well documented. According to the Open University (@OpenUniversity), the UK’s pervasive skills shortage cost organisations £6 billion in the last year alone, as they bridged knowledge gaps through temporary staffing, increased salaries, and intense workforce training programmes.
Digital recruitment market opens doors – but businesses must guard against “Netpotism”
A report from Handshake shows that half of businesses (49%) believe the ongoing shift towards online networks driven by the pandemic presents a chance to level the playing field, with lower barriers to directly reaching candidates.
It’s a tough time to be young. The legacy of COVID-19 is likely to be felt particularly acutely by those just starting out in their careers, who have had vastly reduced opportunities to build work experience. They now also face a huge amount of competition for roles from those who are newly unemployed or in work that’s now unstable.
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