The great success of the Initial Public Offering – [ IPO ] of Linked In yesterday has ushered in a new business trend in the web world – monetizing social networks with a business focus . Professionals join Linked In not only for social interactions but also talk about their achievements and aspirations freely to friends and contacts . Many times , they also request for endorsements . The profile is also up dated frequently .
I was reading in the Wall Street Journal today about the income stream of Linked In . It comes mainly from recruiters and executive search firms who pay for accessing profiles available in the network . The difference here is that professionals whose profiles are a accessed do not actively seek employment but always express their interest in openings suiting them . A clever recruiter can make use of this information and initiate a dialogue . Discretion and confidentiality can still be maintained by both the parties . Referrals are readily available through peer / business endorsements in the network .
Managed creatively , the Linked In networks can be a great resource for Talent Mining and it will be a cost effective business proposition for recruiters and Human Resource [ HR ] Professionals .
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