LinkedIn is one of the most powerful social networking platforms for millennial entrepreneurs.
But many millennials are struggling to get hired and even less money to work for them, according to a recent survey from HR-focused job site LinkedIn.
And even with new hires, LinkedIn’s growing pains are evident.
The survey, which polled more than 2,000 current and former LinkedIn employees, found that only 12 percent of the employees surveyed had a successful start-up company.
That’s a significant drop from just five years ago when just over half of employees said they had a start-ups company, according a LinkedIn spokesperson.
The decline in start-Up companies was especially noticeable among young people, as nearly half of those surveyed had no company at all.
And it was also the case for those who had just started their careers, as less than half had a firm start- up.
According to the survey, LinkedIn is “the best place to build a career for today’s workforce,” but it still hasn’t fully figured out how to get the best talent into the job market, or how to make a product that works.
According the survey results, more than 60 percent of employees who had a new start- Up or a startup company were unsure about how to reach the right people.
And of those, a whopping 72 percent said they were unsure if they would be able to find a job.
For more:How to build your business and be successful with millennials:Learn how to recruit for and get the right talent for your start-Ups and start- ups.
LinkedIn is also finding it harder to attract millennials to work there.
Only 31 percent of those who have a start up company say they feel confident in LinkedIn, according the survey.
And while about a third of those polled said they’ve had at least one person who has never worked at LinkedIn before.
LinkedIn’s workforce is also older, with just under half of millennials age 25-34 having been in the workforce before 2010.
The HR-minded job site HR-Info also said the drop in start ups was especially apparent among younger employees.
And more than a third said they have no interest in starting up or even looking for a new company, and just 22 percent of them said they want to join a startup.
“Young people are struggling, and LinkedIn is not doing enough to support them, which is why many millennials say they’ve turned to other avenues for support,” said the HR- Info CEO, Matt Segal.
“But there are still a lot of great companies that don’t hire millennials because they have too few qualified people.
There are also plenty of opportunities for companies to recruit more millennial talent.”
The survey results are a wake-up call to LinkedIn, which has been focused on attracting millennials since its inception in 2013.
The company has taken steps to recruit and retain more diverse candidates, including allowing its users to upload their resume and personal information, but that still leaves some gaps in talent pool.
In a recent internal memo, CEO Reid Hoffman acknowledged that the company needs to work harder to reach out to minority and underrepresented groups in the workplace.
And LinkedIn’s efforts to build more diverse and diverse talent has been well-received by its employees, according Segal, who added that the results are “just the beginning.”