Accenture plc (ACN Quick QuoteACN - Free Report) on Tuesday announced that it has developed an analytics-based platform aimed at reducing the unemployment cycle created by the COVID-19 pandemic.

Known as People + Work Connect, it is a business-to-business global and cross-industry platform that pools non-confidential and aggregated workforce information by categories like location and experience. Companies on the platform are able to share skills and experiences of their laid-off or furloughed workforce with those that are looking for employees. Its usage is free of cost.

While Accenture built the platform, chief human resources officers (CHRO) from Accenture, Verizon (VZ Quick QuoteVZ - Free Report) , ServiceNow and Lincoln Financial Group have designed it. The list of participating companies includes big names such as Walmart (WMT Quick QuoteWMT - Free Report) , Marriott (MAR Quick QuoteMAR - Free Report) and Cargill. Going forward, the platform is expected to add public sector jobs and join 250 companies.

"By providing real-time visibility into which companies need people and where, People + Work Connect is designed to lessen the economic and societal impacts of the virus and help us work together to make a difference in the lives of hundreds of thousands of people," said Ellyn Shook, Accenture’s chief leadership and human resources officer.

Notably, Accenture’s shares have depreciated 5.4% over the past year compared with the 4.7% decline of the industry it belongs to.

Accenture currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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