Forbes Magazine’s July 16 edition compares today’s two most powerful online networks: Facebook and LinkedIn. People use both to stay connected with colleagues and friends. LinkedIn has also become a recruiting tool recently. Some small businesses have decided to replace recruiters with the cheaper more limited access to LinkedIn data. Some power users say LinkedIn is invaluable in finding hidden talents that would not show up in the traditional searches.
LinkedIn and Facebook make their revenue in different ways. Facebook makes money only when you are logged in and you click on the Ads. Users spend on average 6.35 hours on Facebook vs. 18 minutes on LinkedIn. LinkedIn, known as the world’s largest professional network, makes its revenue by selling services to people who buy talents for a living. The dynamics of on-line networks will change again when the web goes mobile in near future as it will be difficult to deliver Ads on tablets and smartphones.
In the past, people grew up with the expectation that companies will provide a career for life. Creating a public profile that is accessible to all recruiters may have seemed inappropriate. At some point the lay-offs and mergers started. Companies and employees stopped showing loyalty for each other. Filling out a LinkedIn Profile started to seem to be a smart idea. According to the Bureau of Labor and Statics, the average baby boomer’s career path is likely to span over 11 jobs.
LinkedIn’s current CEO Weiner has plans to use this site to make an economic graph that will show all the matches and mismatches between available talents and skills needed globally. This is still a few years away but Weiner envisions providing data on every economic opportunity, every skill required for these jobs, and every company offering the jobs. If this works out, the dream jobs will have no problem locating the Next Gen job seekers as long as their LinkedIn profiles are up to date.