We all use Facebook day-in and day-out to mostly stay connected with our friends or to entertain ourselves with various applications. This is not the situation anymore as Facebook is looking forward to take the social connection of its 900 million user base to the next level.
Now Facebook is making serious efforts to create the professional connectivity by having tie-ups with companies like BranchOut, Jobvite and Work4Labs (at least three as of now), that will pair with the platform.
With the launch of its job posting facility it is going to challenge LinkedIn and Monster Worldwide on a huge scale. According to recent estimates, the job posting market is worth about $4.3 billion and thus Facebook is eyeing to cut out its share from the cake.
When we log into Facebook we see these days people sending connectivity request through Glassdoor - “Inside connections.” Conceptually, the product isn’t all that different from what Monster.com is doing with its BranchOut copycat Beknown.
Then what is so different about Facebook’s Job Search??
Why is it that Monster and LinkedIn should see it as a threatening sight? Monster has been one of the largest employment website since around 2000. But Facebook has an edge over its competitors which can be explained as follows:
Reach: Facebook has a much wider reach with a user base of over 900 million users. This will help the companies reach the right candidate at a lesser cost.
Sharing: LinkedIn and Monster do not have the option of sharing the job with your friends or posting them on your wall. But with the job search on Facebook you can possibly share the job on your wall or recommend your friend in case you feel he/she suits better for the profile mentioned. Like the Hire My Friend application in which you can showcase a friends profile who is in need of a job.
Worldwide connection: In most of the job portals we have to hunt out at different places for country specific jobs. Like Monster has a different job hunt for jobs in the gulf as www.monstergulf.com. But with Facebook as one center for jobs across the countries your search becomes much easier.
Government tie-ups: Last October, the social networking site initiated its move towards becoming a source for job hunters by teaming up with the US Department of Labor and other related agencies in order to decrease the country’s 9.1 percent unemployment rate. As part of the initiative, Facebook launched a "Social Jobs" portal that makes educational content easily accessible.
Cost effectiveness: With such a huge database smaller companies can reach out users far more easily and at a lesser cost. Many small businesses already promote themselves with wide linkage of its employees and their friends.
Educational Linkage: If Facebook is able to create a linkage between the Educational institute and the companies who are looking for campus selection then it can also help in recruitment. It has also became a major source of connection for the College Alumni to help students get their placement.
These are tools that Facebook can use as a weapon against its competitors who already have a strong foothold in the market. If Facebook is able to do so, then people need to be just a bit cautious in being able to channel a difference in their personal and professional profiles.
Though it might initially create a discomfort for the user but when they see that they are getting placed or being able to place their friends in some good companies, it will surely pump them to keep this connection on. Its now time to start hunting jobs on the biggest social networking website…!
Copyright © 2009 The Motley Fool, LLC. All rights reserved.
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