As we all could have probably predicted by the way Facebook already has a hand in almost every aspect of our lives, the social media giant has now moved on to its newest venture: jobs.
The Facebook Job Board launched Nov. 14 in a culmination of 1.7 million job openings combined from recruiting partners including Work4 Labs, BranchOut, Jobvite, DirectEmployers and Monster.com. This application allows users to search for jobs by location, skill and industry then apply directly through Facebook or share the listing with other users.
According to Facebook’s blog post about the application, some rather significant statistics point out why this move makes sense:
- Half of employers (50 percent) are using Facebook in their hiring process. A majority (54 percent) already using the social network anticipates Facebook becoming a more important part of the talent acquisition process in the near future.
- Nearly 90 percent of companies stated that Facebook has decreased the amount of print advertising needed with regards to their recruiting efforts, making Facebook a cost effective way to find new talent.
- Of companies using Facebook to acquire new potential employees, more than half state the importance of networking and referrals. The number one suggestion by recruiters (87 percent) is for candidates using Facebook to ‘Like’ a desired company’s Facebook page, followed by using Facebook as a networking tool.
Some are speculating that this new application will rival LinkedIn and possibly mark the beginning of a decline in LinkedIn usage. At least, that is what investors may be thinking seeing as immediately following the announcement, LinkedIn’s stock dipped, and has remained down more than 2 percent since. Still, even with its famed “one billion” users, can Facebook’s main demographic compete with the seriousness of LinkedIn and its users? In its more than 175 million user membership, LinkedIn boasts some pretty serious professionals, most of whom are college educated. Many of the jobs Facebook is listing are entry-level and hourly positions, rather than the salaried openings that LinkedIn specializes in. LinkedIn is trusted for its professionalism and many older employers may not feel comfortable mixing their recruiting efforts with their more personal social media usage.
Would you feel comfortable looking for a job through Facebook? What do you think this will mean for the future of LinkedIn? As always, only time will tell. But as we have all seen in the past several years, you can never underestimate the power of Facebook.