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Articles tagged 'LinkedIn'

Industry News

LinkedIn Reports Q3 Earnings


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LinkedIn lost money, but still beat analysts estimates, blowing through their most optimistic projections by millions and ending the quarter with $139.5 million in revenue. The company also announced it would sell $100 million more of its shares to finance its aggressive expansion.

The company told investors and analysts during a conference call after the markets closed yesterday afternoon that it would add some 500 to 600 more employees by the end of the year. CEO Jeff Weiner said the rapid expansion would give LinkedIn a jump on 2012.

Because of SEC rules and legal cautiousness, company officials didn’t discuss the planned stock sale during the call. But Weiner and CFO Steve Sordello said they would be bringing in more tech people to speed up the launch of new products and scale its operation to accommodate the rapid growth. Sales people would also be added now so they’ll be in place to begin selling with the new year.

Sordello said the company was on pace to bring in between $154 and $158 million in the current quarter. That would give it between $508 and $512 million for the year.

The company has been on such a tear, that one analyst questioned whether its revenue and earnings projections might be too conservative.

For the 3rd quarter, the company reported a per share loss of 2 cents. The analyst consensus was for a 4 cent loss. Adjusting for one-time and non-operational expenses, LinkedIn earned 6 cents a share. The consensus for that calculation was that the company would break even.

Showing that it’s not just growing money, Weiner and Sordello noted the company’s global expansion and reported that 59 percent of its 135 million members are international. The fastest growing group is college students and recent grads. Weiner said helping them find their first job is a company priority.

Its traffic has also grown rapidly. The site now averages about 87.6 million unique visitors monthly, a figure the company said is low since it doesn’t include mobile users who, by company metrics, now account for something “north of 10 percent” of page views.

“Mobile is far and away our fastest growing product and service,” said Weiner adding, “we’re thinking through how to monetize mobile and we’re hoping to begin that next year.”

Industry News, Technology & Resources

LinkedIn Introduces Talent Pipeline


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LI Talent Pipeline

LinkedIn said there would be surprises at its Talent Connect user conference in Las Vegas this week. The company didn’t disappoint.

During a keynote session this morning that had more in common with a Hollywood spectacular than sober recruiting kickoff, CEO Jeff Weiner wowed the audience of 1,800 with Talent Pipeline. Now it might be that the biggest applause — and some actual cheering — came when he uttered the magic word Free, as in free for those licensing LinkedIn Recruiter. But, those cheers would have been equally appropriate for the product itself.

Weiner left the driving to his VP of product, David Hahn, who tour-guided Talent Pipeline on five massive screens, demonstrating its ease of use, its utility, and a little less obviously, its potential to replace the most basic of ATS programs in use.

Hahn said the development of Talent Pipeline was driven by the challenges talent specialists face in managing pipelined prospects over many months. And not just prospects sourced from LinkedIn. Talent Pipeline, declared Hahn, is the single place to manage all your talent prospects, whatever the source.

What’s particularly special about Talent Pipeline is how it connects prospects and information. Any old ATS will take applicant resumes and sort them into a searchable database. More sophisticated systems provide notes fields, calendaring and scheduling functions, automated messaging, and the like. What Talent Pipeline also does is to pull information from a prospect’s LinkedIn profile, match up their connections, essentially building a portfolio private to the recruiter and tracking all activity between the prospect and employer.When a prospect in Talent Pipeline updates their LinkedIn profile, the recruiter is alerted. In the rare event that a prospect isn’t on LinkedIn, a profile-like portfolio is built from the resume employment history.

Industry News, Social Media

LinkedIn’s Talent Connect Event Kicks Off Amid a Changing Social World


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LITalentConnect

As LinkedIn’s annual user conference got underway in Las Vegas today, it took on an import that goes well beyond the quality of the agenda. This is its first conference since becoming a public company and the first since its dominance as the Internet’s leading business network was challenged — directly or otherwise — by such powerful brands as Google, Facebook, and Monster.

The sessions the company has planned for the three-day event are heavy on the training with a strong mix of sessions devoted to recruiting strategies and social media. The speaker lineup is first rate and the agenda promised enough variety and practicums that it should be easy enough to answer the boss’s “What did you learn?” questions.

On another level, though, the conference is spectacle, a physical manifestation of the reach LinkedIn has achieved into the recruiting world in just a few years. Founded as a sales and marketing leads business, LinkedIn has morphed into a jobs-focused social network. Today half its revenue — approaching $500 million — comes from recruiters.

But in just the five months since LinkedIn went public in May the world has changed.

Google launched a social network, Monster launched BeKnown, a careers network, BranchOut, a startup careers network, announced a partnership with CareerBuilder, and, perhaps most significant of all, Facebook detailed sweeping changes to its 800-million-user social network that could trump the need for a separate business network altogether.

Industry News, Social Media, Technology & Resources

Finally, We Have Identified a Relevant Professional Search Engine


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The competition for professional networking sites just took an attention-grabbing twist, as Identified launched in public beta Monday. This new site is actually aimed at aiding recruiters in producing better search results for candidates and predicting which candidates companies would be must interested in. Dubbed as a professional job search engine, Identified ranks people on a scale of 0-100 from three key areas: professional career, education background, and social network.

Built on a combination of your Facebook data and entered information, Identified takes the approach of ranking the top candidates in various skill sets. For example, if you are looking for a Software Engineer, Identified will accumulate a list of the top software engineers on the site.

By using a complex algorithm, Identified provides users on what companies are ideally looking for. In fact, it was that concept that intrigued the minds of Identified’s co-founders Brendan Wallace and Adeyemi Ajao. The two were students at Stanford University when they pondered the question, “What will make us more desirable to employers?”

The two built the site and when it was launched on campus, they had more users in eleven days than Stanford’s career center had resumes. After expanding to nine other colleges (Harvard, Brown, UVA, Georgetown, etc.), Identified raised $5.5M from Google CEO Eric Schmidt, Draper Fisher Jurvetson’s Tim Draper, Bill Draper and others.

“When I first saw Identified exploding on Stanford’s campus, it reminded me of the early stories of Facebook’s growth at Harvard back in 2004,” Bill Draper said. “Like Facebook did for social networking, I think Identified will become the standard of professional networking for the Facebook generation and beyond.”

Identified works closely with Facebook’s API to pull data that helps accumulate your ranking. Historically Facebook has been a college phenomenon. In fact, it was only open to university scholars until 2006. This being the case, there is far more accurate data on Facebook than other professional networking sites such as LinkedIn. According to Identified, 47% of Facebook users enter their professional information in their Facebook profiles.

Currently there are near 80 million Facebook users in the United States between the ages of 18-34, as opposed to slightly over three million users on LinkedIn. If 47% of those Facebook users have entered their professional information, Facebook is a much larger resume database than we realized.

According to Wallace, “the problem with LinkedIn is that it outputs a lot of data. Identified is a professional search engine that delivers professional information in a professional way. You get the best results at the top.”

Rankings

The biggest debate with Identified has been over its rankings, but let’s takes a closer look. Looking back at the photo of the query I ran earlier, Garrett Marcotte is the top ranked Software Engineer, yet does not have the highest score. In theory, Identified is telling us that Marcotte is the most desirable Software Engineer to companies in their database. After a closer look into his professional and collegiate history, you can see why:

What you can’t see is who Marcotte is connected too. Remember, Identified also ranks your relevancy on your social network. Since I ran a query for Software Engineers and Marcotte is the most relevant candidate, his social network probably contains a vast array of other Software Engineers.

It’s the same theory that you’re only as good as the people you surround yourself with. If you are a good recruiter, your network probably contains a lot of high level recruiting connections. Likewise, if you are a junior recruiter or not the best sourcer, you probably don’t have the largest recruiting network, and you probably are not reading this article.

In a similar search for “Robotics,” Marcotte’s relevancy is ranked lower. This is most likely because he is currently not performing that role and his social network probably contains less “Robotics” professionals.

To date, Identified has scored and indexed over 40 million professionals, 60,000 companies and over 8,000 universities. 40 million profiles is a lot, and Wallace adds that they are growing at a rate of 2 million profiles a day. However, not everyone has signed up just yet. Identified pulls in its users’ connections’ information straight from Facebook and creates scores even for people not registered. This is public information that Identified is providing recruiters without a direct connection on Facebook to these candidates. Currently, users are not able to search on score, but a paid feature will soon be in place for recruiters to utilize.

It is important to note that your score is not an indicator of success or status as a better candidate. Your score should be viewed as an indicator as to how companies may potentially view you. Likewise, your rank does not necessarily make you the best candidate for the job, but the higher your rank, the more desirable you will potentially look to companies. Identified has features, and is working on more, that will help you increase your score. By adding your grade point average, SAT scores, job title, and description of past work done, your score can increase. In theory, if you rocked a 4.0 at the University of Wisconsin, you can have a similar score to a user that attended a more prestigious university.

Analytics

 

 

One cool feature of this site is the analytics it provides for each search. Check out my search for a Software Engineer. Identified lists the most common schools and majors for each Software Engineer on the site. This is a great analytics feature that can be for pipelining and sourcing future candidates.

On your personal page, the analytics go even further. Identified lists the most common job titles, most common companies, most common universities and even most common majors in your own network. Great information to know.

According to Wallace, “Identified is trying to give transparency to users when companies are searching for you in Facebook and how that information is in a score.” He adds, “LinkedIn is a database, and Identified is a search engine that gives relevance to who is going to be on top of the list.”

This might just be the most relevant professional search engine that we have seen yet. The only candidates that we will not be able to see are the ones not on Facebook. But with near 800 million Facebook users, I think we have found our next recruiting playground.

So how relevant are you?

Social Media, Technology & Resources

Vizualize the Future of Resumes


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VizualizeLogo

I now officially believe that paper resumes are dead. It has been almost two years since I have received a paper resume in the mail. I have even noticed that candidates stopped providing their resume for job interviews. Even when I meet candidates at networking events or mixers, they refer me to their LinkedIn profile to view their credentials. And forget paper — my last two employers never even asked for my resume. Any why should they? My career profile is on at least 20 different social networking sites.

Social networking sites such as LinkedIn have worked marvelously in our industry. With over 120 million profiles on LinkedIn, you can find almost anyone on that site. From a job seeker standpoint, you can easily convert your LinkedIn profile into your resume. Now, you can even apply for a position by using your LinkedIn profile.

LinkedIn also introduced InMaps earlier in the year, a visual representation of your professional connections.  This was great idea to visually explore your connections. One major flaw — your network can actually be too large:

Bummer! Looks like I will not be able to chart my connections, but what if I could visualize my professional history?  Maybe create a graphic with complex information and is skillfully displayed…that would be cool.

Social Media, Technology & Resources

Getting to know Knod.es: A Quick Way to Search Your Networks


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knodes logo

It’s eminent that recruiters make the best networkers. Being the face of a company and telling its story to potential prospects is part of our vocation. Attending job fairs, networking events, and mixers allow us to mingle with passive candidates and offers exposure to the community.

With Recruitment 3.0, social networking allows us to have access to millions of people and lets us easily grow our talent pipeline. Today, we spend the majority of our day searching for candidates on the most popular social media sites. LinkedIn has become our playground and building our network is an absolute necessity.

Without a doubt, recruiters should be the most connected users on LinkedIn or any other social media site. I actually feel bad for my non-recruiting friends as their LinkedIn, Facebook, and Twitter feeds have become over-saturated with my latest connections, job announcements, and recruiting news articles.

The words “sourcing” and “hiring” have become part of my friend’s vocabulary. I love reading their responses to my social media updates:

Obviously, my status updates and constant jabber about sourcing has become a little obnoxious to others. As a result, I stumbled upon a new site that makes it easy to reach out to your entire social network without status updates or blasting a tweet.

Knod.es, product of SnapGoods, is a new site that searches your LinkedIn, Twitter, and Facebook connections that are most likely to have an answer to your question or topic.

Industry News

Wow! LinkedIn Doubles Revenue, Turns a Profit


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Wall Street may have tanked. The global markets may be in a shambles. But LinkedIn is proving you can roll uphill.

Fresh off its May IPO, the company surprised almost everyone, reporting it more than doubled revenue in the second quarter and turned a 7 cent a diluted share profit. After hours, investors rewarded the company’s performance, bidding up its stock price by almost 10 percent in the minutes after the numbers were released.

Analysts had predicted the company would lose 3 cents a share on revenue of $104.73 million. Looking ahead to the third quarter, the consensus was for a 4 cent a share loss on revenue of $111.82 million.

Now LinkedIn estimates it will bring in between $121 million and $125 million.

Since the initial euphoria, LinkedIn’s after-hours trading is lower, but still up over its New York close of $95.52. The stock lost $10.13 during Wednesday’s bloodbath. At early evening on Thursday in New York, the stock was trading at $99.00 a share.

Company CEO Jeff Weiner, speaking at the company’s first financial results conference call, reported that on every metric LinkedIn’s second quarter performance showed growth. Besides the dollars and cents, Weiner said LinkedIn is growing at the rate of 2 members every second and now has 121 million members. Engagement with the site also continues to grow; pageviews are up 80 percent over the same quarter last year and unique visitors now average 81.8 million monthly.

“Talent is the driving force,” Weiner said, both on the site and in the company itself.

Industry News, Social Media

LinkedIn’s New Universal Resume Apply Button


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apply with LinkedIn button

Just before lunchtime in New York City, LinkedIn announced it is offering employers a button to include on all their job postings enabling candidates to use their LinkedIn profiles to apply for the position.

This “Apply With LinkedIn” feature wraps up the candidate profile in a tidy package that feeds directly into any one of the several tracking systems it has or will partner with. No ATS? No problem. LinkedIn will email the profile to you.

This portable feature can be used on any job, anywhere, on any site, including any job board.

Five ATS providers — Peoplefluent, Jobvite, SmartRecruiters, Bullhorn, and Jobscience — turned on the automatic feature this morning. Taleo, Lumesse, and Kenexa will have it enabled in a matter of months.

However, as LinkedIn’s VP of product management, Adam Nash, explained, the company designed the “apply” feature to be used by small, as well as large employers. It’s “really trivial” for a hiring manager at even the smallest of firms to add the button to a job posting, and specify how and where the resume is to be received.

Social Media

Searching Social Media Requires Outside-of-the-Box Thinking


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Non-Standard Descriptors and the Role They Play in Social Media

Sourcing has always been a significant component in the recruiting lifecycle. However, in recent years, sourcing has taken a giant step into the forefront and has become recognized as the solid foundation upon which successful recruiting rests in order to identify and secure top-level talent, no matter what industry you may be supporting.

These days, it seems as if nearly everyone from CEOs of Fortune 500 companies, to inventors in various fields, to the grandmother of your best friend has a Facebook page, a LinkedIn profile, or a Twitter account.

Although some people are still discovering and testing the waters of the Twitterverse, a diverse and large population spanning nearly all industry segments has already fully jumped on to the real-time messaging bandwagon in order to share information or blurt out a piece of nonsense rolling around in their head.

Technology & Resources

The Importance of Synonymous Job Titles in Your Sourcing


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synonyms

Showing up to the requisition intake meeting from a position of immediate value is one of the fastest and most effective ways to gain your hiring manager’s trust and build your credibility. Sourcers and recruiters alike can do this by bringing with them a few key pieces of information they can confirm or validate with the hiring manager. Job titles from competitors or from organizations that hire similar talent are important criteria in developing the sourcing strategy. But where can you quickly get job titles in preparation for your hiring manager meeting?

There are numerous sources for researching job titles. Here are my favorites: