2009 has been a rough year for most employers. Unemployment is at or above 10% in many parts of the country. Companies are reporting sales off by 35 to 40% over last year.
Yet with all that bad news social networking giant, LinkedIn, says they will increase their staff by 50% this year. The LinkedIn CEO, Jeff Weiner, said 40 percent of Fortune 100 companies are using the company's software service for recruitment. The company says it adds a new member each second and Quantcast.com reports that it has 28.5 million users monthly among its members.
Just because some segments of the economy are bad doesn’t mean all segments are bad. Social network recruiting is growing in spite of the economy. LinkedIn reports sales growth at 50% year over year.
Their business model is working and it shows in their sales and membership growth.
Link: Reuters.com LinkedIn Article
Marty Brack
E-mail: mdbrack@crimson.ua.edu
Cell: 205-837-4098
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