With all the news surrounding LinkedIn’s impending IPO, one must wonder, how firm is their grasp on professional networking industry? Can Facebook take over the professional network? How people apply to jobs is a good indicator of where people prefer to store their professional information. Let’s examine the activity of applicants through the two most powerful social networks, Facebook and Linkedin, within the SmartRecruiters’ ecosystem.
Below: How Candidates Applied to a SmartRecruiters’ Posting in 2011 ( Jan. – May per 100 applicants):
By the beginning of May, 20% of candidates applied through social networks (13% through LinkedIn and 7% through Facebook). The shares of applications through Facebook and LinkedIn both saw gradual growth; through the entire period LinkedIn ranged from 10% to 15% while Facebook ranged from 3% to 8%. After an initial drop in January, applications through Facebook have been growing the most rapidly; from late January to early May, the share of applicants applying through Facebook more than doubled from 3% to 7%.
When you increase the duration of the application process, less qualified candidates have the time available to apply. Social networks can lessen the time it takes to complete an application while giving businesses the platform to view more verified skills and experiences.
LinkedIn and Facebook are not the only social networks offering information to match labor to companies. Numerous other social networks (such as DoYouBuzz, About.me, Simply Hired, etc.) are changing how information can flow throughout the hiring process. However, LinkedIn and Facebook have a dominant grasp on those who apply to jobs through social networks.
Despite having roughly six times the amount of users (600 million to 100 million), people applied through Facebook about half as often as people applied through LinkedIn. Even if more candidates are beginning to use Facebook professionally, Linkedin remains the professional network on the internet. As Kevin Grossman said in our last Zero Unemployment video, “Keep your LinkedIn up-to-date.”
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