Here's a quick note to all you out there (passively or actively) looking for new jobs: Recruiters confirm they are increasingly tapping into social networking sites such as LinkedIn to fill positions in the capital markets."Today there is much more emphasis on social networking rather than on posting jobs on boards," says John Brennan, vp of human resources at Advent Software, a technology provider for investment management firms.
Referrals continue to be key in recruitment. But companies looking to extend their search beyond referrals are increasingly turning to LinkedIn, as it provides a more targeted approach than the online job boards companies have been using for some time.
Recruiters find the professional social networking site particularly useful since it allows potential job seekers to join networks for specific industry groups to which people with the same skill sets or from the same a university also belong. Employers can then look to these groups to find the right match for their needs.
The site further facilitates recruiters' search by suggesting people with similar skills or interests that previous viewers of the profile have also looked at.
"By using LinkedIn, recruiters have the access to dig deep into networks and send communications to active and passive candidates. It can help us find the niche and unique skill sets we're looking for," says Brennan.
Adam Honore, senior analyst at Aite Group, confirms that recruiters in the capital markets are increasingly turning to the site. "LinkedIn is at the top. That's where most professionals are. It's also fairly easy to be added into a discussion on LinkedIn. Someone will create group, targeted at a niche profession. You might want recruiters added to the discussion."
But while LinkedIn has become a pivotal part of companies' recruitment strategy, Brennan and Mike Jacobson, director of HR, Advent Software, say they find it particularly effective when used in conjunction with Jobvite , an on-demand recruitment application that enables the entire organization to participate in the hiring process through automated referrals.
The application allows the company to notify its employees when there is an open position. Its employees can then send Jobvites, or job invitations to their professional and social networks - and recruiters will then further research potential employees by looking up their profiles on LinkedIn, says Jacobson.
"LinkedIn is becoming the first place people go in addition to the Jobvite application, which we use to post all our jobs," says Brennan.
Advent currently recruits one third of its employees through referrals with the help of Jobvite, enabling employees to tap their social network in a facilitated manner, says Brennan. "For the other two thirds of hires, we have to search for them," he says - which is where LinkedIn comes in.
"We're always exploring how technology can enhance ways of finding people," Jacobson adds.Recruiters confirm they are increasingly tapping into social networking sites such as LinkedIn to fill positions in the capital markets. Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio