This week’s EOC deals with social networking and how it effects potential employees and employers in the field. There is a article written in the WSJ this week “Job Recruiters Turn to Facebook to Find Candidates”, in this article it points out a few reasons why employers are using this new method. Facebook has an estimated 750 million users worldwide, and some recruiters have cut cost by eliminating on line job boards which can charge up to a hundred dollars per posting depending on volume. People also tend to value referrals if they are sent by someone in their network even though Linked In has comprehensive data base. “Candidates have been 50% more likely to apply to positions they found through Facebook than through other means, said Mr. Staney. "[Job boards] just blast it out. This is much more efficient and targeted," he said. Interesting quote, I think this tells me that people who use Facebook are more comfortable using a system that is more relaxed, and they know that the people who share the same interests referred them the job posting. This is the reason why Facebook is slowly becoming a force when it comes to the job placement market, making Linked In feel threatened. Linked In’s revenue is growing rapidly, “In the second quarter, the company's hiring solutions segment—which among other things helps recruiters search through their profile database for candidates—grew 170% to $58.6 million from the same quarter a year earlier.” Linked In has the hire end of the market cornered, people who have a resume with some history and some real world experience. Employers like reviewing candidate’s profiles on Facebook to get a general idea of the candidate’s personality, to make sure that they’ll be a good fit for the company. This information is useful if you are looking for work in today’s market, the web is a great platform to display your professional skills.
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