Facebook may seem as a winner by definition at first glance. But look closer and you will find contradictions beneath the steady exterior. The humongous networking website links everyone to everyone else. It is the choicest place for friends and relatives to engage in lighthearted banter. People play games and take pictures of each other and post them onto Facebook. They even discuss the rating of fancy eateries.
According to Mercury News, Facebook has throughout 2012 faced imbalances in its stock reports. The past year has not been a good one for the sleeping giant. Meanwhile, LinkedIn has been the turtle in the race. It has slowly and steadily won by inching its way to the finish line. An increase in profits by up to 80% has been a cause célèbre for the LinkedIn administration and staff. More than 200 million professional people come on LinkedIn on a daily basis to do business or any other career-related activity. They are living proof if any is needed that the site has struck the iron while it’s hot.
LinkedIn has a talent pool that it lends access to. This is by far the greatest secret of its success. The recruitment process and talent hunt have been flipped upside down by the site. The people who post their resumes on the site are actively sought by company bosses who are on the lookout for talented personnel. The way things are done has been changed irreversibly.
LinkedIn began a decade ago. It is a site that caters to professional business-oriented people who want to do some serious money-making instead of just waste time in meaningless chit chat. Most of the financial assets of the site come from ads and features sold to its valued members. Nearly one billion dollars in revenue comes form the “Talent Solutions” program where lists of careers and a whole lot of corporate culture spiel gets its payback time.
In other words, LinkedIn has revolutionized the way people get jobs in the first place. In the past it used to be the people who went looking for jobs. Now it is the job owners who go looking for the people they want to hire. Recent changes in the software have occurred at LinkedIn. These changes are algorithmic in nature. Yet they have gone unnoticed by the members except for the change in design format which is pretty obvious.
LinkedIn has added more than a thousand employees since the previous year. Facebook and Google remain its main competitors. However, things are looking up for LinkedIn for now at least.