BLOOVO.COM, an online social recruitment platform, has released a new research indicating that unemployment in the MENA region is a long-term challenge, especially in light of having the world’s highest youth unemployment rate of around 28%. This coupled with the undiversified economies just escalates the unemployment dilemma.
“Formal unemployment in the MENA region affects some 25 to 35 million people. To put that into perspective, that’s the entire population of Canada. Worryingly, though, this isn’t the complete picture. We estimate that adding hidden unemployment to the mix could take the number of unemployed people in the MENA region to over 50 million,” says BLOOVO’s Co-Founder and CEO Ahmad Khamis.
While in some countries unemployment might rise due to structural or socio-political issues, BLOOVO research notes that a large recruiting mismatch is adding to the problem. “Successful employment occurs when the candidate and job fit very well. We’ve found that up to 23.7% of MENA candidates are either over or under-qualified for the jobs they are mass applying to. That is a statistic that BLOOVO is working hard to reduce,” adds Khamis.
From a micro-perspective, the inability of companies to find the right talent is adding to the problem of ‘right job matching’ and thus increasing unemployment. High unemployment rates can also result in structural difficulties, as a new generation never gets access to stable economic prospects.
BLOOVO’s targeted and communicative social media approach is novel to the Middle East, but its success has been proven in other global markets. For instance, BLOOVO notes that over 50% of all UK job seekers use social media sites in their search for employment, with young people also using social media tools to build an online career presence.
Prompt and transparent communication is a key factor in BLOOVO gaining local market traction. A recent global survey of over 30,00 graduates, students and early career professionals by Potential Park found that a full 100% wanted to interact with their potential employers online.
“Market conditions are cyclical, but there are always jobs for the right candidates. At BLOOVO, we are all about creating the social space needed for that fit to occur. There are specific frustrations we address. Employers are frustrated about getting massive lists of applicants. Job seekers are tired of the trend where phantom job offerings are sometimes put up just to drive traffic and drum up interest. They don’t like the constant job applications, followed by complete silence. Lack of feedback or replies is a huge concern. These are all pain points that BLOOVO addresses,” concludes Khamis