Lightcast Publishes Inaugural Impact Report

Report Highlights How Lightcast Empowers Clients to Increase Diversity, Find Clarity through Skills, Create New Connections, and Make Better Decisions

MOSCOW, Idaho, March 20, 2024 /PRNewswire/ -- Lightcast today published its inaugural Impact Report, outlining how the company is accomplishing its mission?to unlock new possibilities in the labor market?by enabling its clients to accomplish theirs.

This report shares real-world applications of how labor market data is being put to work, and it explores how business, education, and community leaders are creating an impact in society. It features four key themes: serving diverse and underrepresented groups; making decisions for a future-ready workforce; improving connectivity across stakeholders; and using skills to better match people to jobs.

"The global labor force has undergone tremendous disruption over the past several years, and as it evolves, workers will need new skills to adapt," said Ken Mehlman, Co-Head of the KKR Global Impact Fund, which includes Lightcast. "These are critical challenges throughout the global labor market, and Lightcast is a major contributor to the solution. Its insights allow clients to understand the changing landscape of jobs and skills in order to create valuable career outcomes and real mobility."

Newly released in the report are the findings from a large-scale survey in which nearly 1,400 clients shared how Lightcast tools and insight have contributed to better outcomes throughout their organizations. These findings provide a quantitative, data-driven approach that has allowed Lightcast to better understand, and better illustrate the forces that are taking shape to move the labor market forward.

"One of our core principles is to 'never lose sight of the human behind the data,' and that's what inspired this report," said Cara Christopher, EVP of Marketing at Lightcast. "We're excited to show how all of our clients are creating an impact?not just in their own organizations, regions, and workforces, but collectively. We want to highlight these successes because we're passionate about delivering real impact in the labor market."

Highlights from the survey include clients using Lightcast to:

• Close the equity gap: 71% of businesses report an increase in applicants from diverse or historically marginalized populations, and 71% of communities report these populations are better equipped with skills leading to well-paying jobs.
• Develop a future-ready workforce: 78% of education providers and 77% of businesses reported an increase in using data-driven insights to anticipate future needs.
• Match skills to work: Enterprises report increases in upskilling (60%) and reskilling (50%) their workforces with a clearer view of career pathways, and 72% of educators noted a rise in students selecting market aligned programs.

In addition to the survey findings, the report showcases customer stories and Lightcast research. This includes collaborative reports and case studies featuring UNESCO, Princeton University, The Ad Council and Opportunity@Work, J.B. Hunt, Npower, and others, showing how Lightcast data is contributing to better outcomes for workers without a college degree, women and people of color in tech, and students transitioning into the job market.

The full report is available at https://lightcast.pub/impact-report-full.

Lightcast provides trusted global labor market data, analytics, and expert guidance that empowers communities, corporations, and learning providers to make informed decisions and navigate the increasingly complex world of work. With a database of more than one billion job postings and career profiles, our team provides best-in-class customer service with robust data, clear analysis, and expert guidance on skills, jobs, and opportunities.

Lightcast is active in more than 30 countries and has offices in the United States, United Kingdom, Italy, New Zealand, and India. The company is backed by global private equity leader KKR. For more, visit www.lightcast.io.

Contact: Cara Christopher
[email protected]

SOURCE Lightcast