Given the ridiculous fees and obstacles created by LinkedIn over the past 3 years; Would an alternative site that was designed to be more open (with recruiting in mind) be something that the larger talent acquisition community would support? I would love to hear what other think on this topic.
As networks become larger, there is a need for narrow focussed groups or networks. (RecruitingBlogs.com is a good example)
Here is an interesting article on alternatives to Facebook
The problem with LinkedIn is they haven't figured out how to monetize their content. They do have a TON of content, both from the exhaustive profiles of job seekers and recruiters, and their status updates. Yet their revenue model is based upon subscription services- not as dynamic as something like targeted ads (like FB) which they could have done (and may still do).
They must make money somehow, so right now it's charging for subscriptions. Maybe that will one day change.
What we will start seeing very soon are niche networks that do a much better job of connecting with quality candidates, similar to the spin offs that we have seen in job boards. And, there are lots of better ways to monetize this than charging for Inmails (way too limiting). And now charging the job seeker - if you haven't noticed see http://www.linkedin.com/subscriptionv2?displayProducts=&family=...
It is kind of defeating the whole idea of a "social" network. Would you go to a BYOB party that also had a cover charge.
Excellent questions and answers!
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Jason Elkin said:
Exactly. And given that we (recruiters) are 80%+ of their revenue stream don't you think that they might want to make it a bit more cost and user friendly to us? Or maybe they suffer from the same pride that Monster.com had a few years ago?
I think that as a profession we owe it to ourselves to explore alternatives and not simply give into a standard that we had little influence in shaping.
LinkedIn and nearly every media outlet that covered the IPO expressly stated that recruiters are the primary (if not only) revenue source for LinkedIn.
We need an alternative.