Published on : Saturday, September 12, 2020
In a recently published report of Workforce Insights by George Anders, senior editor of LinkedIn has reviewed year-on-year changes in regards to hiring and promotions by utilizing the economic graph team of social network.
Last month, promotions were down 40 percent compared to the level of 2019, as hiring remains the same as last year.
April 2020 witnessed worst slump ever as Anders observed with promotions going down by 60 percent compared to the same time last year.
All information was gathered from a thorough research of LinkedIn profiles. They used 14 day rolling sum of promotions and then divided it with the number of profiles in the country.
Promotions were recognized as “LinkedIn members who add a new, higher seniority position at the same employer to their profile in the same month the new job began”, LinkedIn wrote in their methodology.
Free during COVI period is one of the key reasons for this drop in promotions as Anders pointed out. For instance in Goggle, performance review has restarted after they announced a temporary suspension of the same.