Recruiters typically search LinkedIn to find passive candidates to fill their jobs and of course, professionals usually leverage it to connect with each other, build their online profile and to pursue external job opportunities.
Well, according to a piece in The Wall Street Journal, the social media site has a new feature to tell people about available jobs at their current employers. Apparently this will help recruiters identify internal candidates so they can fill their requisitions and simultaneously reduce turnover.
Parker Barrile, LinkedIn’s vice president of product, explained last week at a company event: “This completely changes the way LinkedIn jobs work. It’s not only about finding great external talent. It’s now about maintaining the talent within your organizations.”
Considering employees typically look for external opportunities, they may not actively pursue internal opportunities at their fingertips. Per a LinkedIn survey, at the company event in San Francisco, Barrile mentioned 42 percent of people who landed a job at a new employer indicated they would have actually stayed with their former employer if a relevant position was available.
He stated, “People quit their job, not their company.”
This helps companies, of course, since the average cost-to-hire can be upwards of $10,o00 per job seeker! Plus, it save employers ramp up time when current employees already know the internal culture and procedures.
And just think of the stress it can reduce for a job seeker who’s already immersed in a routine with the current commute and can make the job search less stressful by seeking internal recommendations for the new job.
LinkedIn is going to analyze data to figure out the type of job switches that occur most frequently such as advertising to marketing or from New York to San Francisco.