LinkedIn freelance marketplace is now available to users worldwide

LinkedIn's freelance marketplace is now available to users worldwide

LinkedIn, the world's largest professional networking site, has joined the ranks of other companies, such as Fiverr and Upwork, in the effort to establish a global freelancing labor market for professionals.

Marketplace is an online platform that will connect freelancers who are members of the LinkedIn network with potential clients who are interested in acquiring their services.

LinkedIn has announced plans to launch a limited test of this service in February, with the goal of supplementing companies' recruitment needs and assisting individuals who lost their jobs as a result of the pandemic in relocating to a more suitable location for them.

LinkedIn claims that this feature is now available to all users around the world, allowing them to hire from anywhere in the world without regard to geographical restrictions.

Private tests in the United States have been underway since the service's initial announcement earlier this year. The company, which is owned by Microsoft, has been conducting these tests in secret. Over the course of the year, nearly 2 million members of LinkedIn's global user base have expressed an interest in this feature.

In fact, this is not the first time that LinkedIn has attempted to connect independent contractors and gig workers with the plethora of businesses that are in desperate need of their services.

A feature called "ProFinder" is already available through the company, which allows users to search for and connect with appropriate freelancers based on the subject matter of their project.

Suzi Owens, a LinkedIn spokesperson, stated in a statement that the number of LinkedIn members who have set their profiles to "open for business" has increased dramatically since the pandemic began.

"Open for business" implies that these individuals are actively seeking employment, which is something that LinkedIn hopes to address with the introduction of this service.

Who will be the primary target audience for the MarketPlace?

Design, marketing, and software development are some of the fields where LinkedIn Marketplaces will be geared toward white-collar jobs. Initially, the company plans to launch 250 categories, with the possibility of expanding to 500 categories in the future, according to the company.

Employers can also use the website to compare the rates and types of work offered by specific freelancers, which is particularly useful for small businesses.

The LinkedIn Marketplace will now compete against popular online freelancing job boards such as Upwork and Fiverr as a result of this move.

Within five years, the two websites would have generated revenue totaling nearly $550 million, representing a 37% increase over the previous year.

Pricing

As with its other recruitment tools, LinkedIn announced that Marketplace will not charge fees for the time being, but that it will lay the groundwork for future fee structures.

Matt Faustman, product manager, stated that "we will address the pricing point in the future."

"The lack of a mechanism for negotiating fees for work or invoicing, as well as the requirement that recruiters provide specific guidance on fees until they engage in a deeper conversation with the candidate, are the main drawbacks of the current system. Regarding reviews, clients can rate those with whom they have done business, but individuals are unable to leave reviews for other clients "He went on to say more.