“LinkedIn is increasingly becoming a very strong place for companies to develop their talent plans, their recruitment plans, and so there are ways in which we can track some of the momentum there” states Jeff Weiner, the chief executive officer (CEO) of LinkedIn, who has been able to convert something so simple as professional curriculums into a million-dollar business.
Nevertheless it has not been easy for Jeff Weiner and his team. At first LinkedIn was defined as “the boring social network in which you will not pick up” or as “another web site where upload you curriculum and nothing else”. It was not expected that such a boring network would be worth 8,900 million of dollars years later. In 2011, company´s Initial Public Offering (IPOs) was glorious, contrary to Facebook´s flop, the shares had an initial price of 45 dollars and they doubled in value that same day. These days, shares trade in 241 dollars.
Before Jeff Weiner arrived to the company, LinkedIn used to lose 4,5 million per year and receipts were even paid thanks to advertising announcements. Now, any time every user logs into for an hour, the company gets a profit of 1,30 dollars. In addition, not only big corporations, but also ordinary people pay for some of their premium services; such as Recruiter, their flagship product which helps finding qualified professionals. Using this service, companies avoid weeks of personnel selection, being able to finish the searching in a couple of hours.
LinkedIn is a free and easy network which has become essential for professionals. Nevertheless as everything, it also has its handicaps. Concerning the top of the labour market, anytime a substantive work chance is at stake, personal meeting and traditional interview continue to be imposed. In addition, it is true that advertisement websites offer faster results on less-renumbered jobs such as telephone operators, commercials, checkers,… However, LinkedIn has taken control of a vast intermediate territory, due to the fact that it allows covering highly skilled jobs easily.
In any case, this professional networking is not only dedicated to unemployed people with high level careers. It is also useful for those who have a job. In other times, creating a public profile which could catch the attention of other companies´ talent-spotter could annoy their current bosses; but, nowadays, bosses themselves have a LinkedIn profile.
LinkedIn has become indispensable for any professional, with more than 283 million of users and growing by two more per second. It seems that people have finally understood the aim and the importance of this network. Although it seems that the network will continue growing, Jeff Weiner says that the no-official slogan of the company are the two words “Next play” which the chief executive officer of the company explains clearly: “Never waste your time feeling sorry for having made a mistake or celebrating a success. Concentrate yourself on the next play”. Any idea of what LinkedIn´s next play will be?
· Forbes (September 9, 2013) Jeff Weiner: LinkedIn Is Building A Massive Global ´Economic Graph´. Retrieved December 13, 013 from http://www.forbes.com/sites/tomiogeron/2013/09/09/jeff-weiner-linkedin-is-building-a-massive-global-economic-graph/
· Om Malik (September 10, 2013) Jobs & the future of work according to LinkedIn CEO Jeff Weiner Retrieved December 14, 2013 fromhttp://gigaom.com/2013/09/10/jobs-the-future-of-work-according-to-linkedin-ceo-jeff-weiner/
· Caroline Moss (August 19, 2013) How This LinkedIn Intern Scored A One-On-One Meeting With The Company’s CEO. Retrieved Dember 16, 2013 from http://www.businessinsider.com/linkedin-intern-scores-meeting-with-ceo-jeff-weiner-2013-8
· Quique Rodríguez (May 17, 2013) Cómo puedes usar LinkedIn para encontrar un trabajo. Retrived December 15, 2013 from http://www.expansion.com/2013/05/16/emprendedores-empleo/mercado-laboral/1368727637.html
· Gema Fernández (August 20, 2013) Empleo: Cómo ser contratado gracias a LinkedIn. Retrieved December 15, 2013 from http://www.finanzas.com/noticias/empleo/20130820/empleo-como-contratado-gracias-2446051.html
· Randy Duermyer (2013) How to Use LinkedIn To Promote Your Home Business. Retrieved December 16, 2013 from http://homebusiness.about.com/od/socialmediamarketing/a/How-To-Use-Linkedin-for-Marketing.htm
· Small Business Trends (August 19, 2013) LinkedIn: The Professional Playground For Professional Connections Retrieved October 14, 2013 from http://smallbiztrends.com/2012/08/linkedin-professional-connections.html
· Doyle Alison (2013) LinkedIn and Your Job Search. Job Searching. Retrievved November 19, 2013 fromhttp://jobsearch.about.com/od/networking/a/linkedin.htm
· Adam Bryant (November 10, 2013) Jeff Weiner: El genio de los currículum. (vol. 1359) XL Semanal.