Everyone who is anyone in the business world is likely to have a profile on LinkedIn. It does pay to have a profile on LinkedIn because more than a quarter of the people on the site are senior executives, with every Fortune 500 company represented. LinkedIn is not just used for job hunting, but more and more people are turning to the site to research before sales calls, asking for advice, and compiling information on companies or individuals and clients.
People are no longer relying on traditional avenues to seek employment, such as sending out resumes or CV’s to companies and agencies, or applying to jobs advertised in local or national newspaper job classification sections. Instead, people are being enterprising and inventive in seeking employment through other channels, such as social networking sites LinkedIn.
The rules of job hunting have changed considerably since bygone days when the process was more formal, secretive and reactive, and the candidates were more passive. Instead, as a result of technological innovations, social changes, changes in the workplace and globalisation, individuals are more empowered due to their ability to connect with others at a click of a button.
Facebook for Grownups
LinkedIn is also known as the “Facebook for grownups” and it gained momentum since its inception over a decade ago. Its founder, Reid Hoffman, believed LinkedIn would provide a unique professional platform for millions of people across the world. At present, the professional networking site has over 60 million profiles and there are ambitious plans to move the platform into more ambitious and profitable territories.
Facebook created headlines for social networking, but LinkedIn is now making global headlines. A recent article in Fortune Magazine, How LinkedIn Will Fire up Your Career, highlights the example of the accounting and consulting firm, Accenture, who believes 40% of their new hires over the next five years, will come from social networking sites such as LinkedIn.