New Q1 2014 data suggests social network LinkedIn is on its way out as a job search and recruitment platform.
Figures from Quaxntcast show U.S. LinkedIn daily traffic dropping off by almost 1.3M users from a peak of around 8.3M in June 2013 to 7M April 15th, 2014. Globally, unique visitors to the social platform had tumbled by around 3M daily as of April 2014, with daily page views down by around 20M.
For startups, Fortune 500 companies and venture capitalists it gets far worse. For them LinkedIn comes up seriously lacking in hot talent with just 13% of users in the in-demand millennial age group according to DMR. These findings are seconded in an infographic from Leverage New Age Media which shows LinkedIn serious trailing behind Twitter, Facebook and even Google+. DMR’s LinkedIn statistics coming in with just a 17 minute average user time on site per month. That’s not much time to make a hire, find a job or hope messages and invites are seen. Finally TechRadar reminds us that LinkedIn gave up on its intro email service for the iPhone after just 4 months.
Still, according to Cornell University, a Forbes survey of 59,133 clients, Yale College and U.S. Bureau of Labor Statistics, 70 percent of all jobs are found through networking. Yet, Yale Career Services suggest “is not simply acquiring business cards and adding names to your “LinkedIn” account”, and “with networking you can uncover job opportunities that might not yet – or never - be posted on job-sites, or create an opportunity that did not previously exist.” The afore mentioned Forbes survey shows ‘Internet Job Board’ as the second best way to find a job according to respondents.
So what’s next for HR and job hunting? One hot new online recruitment startup platform which enables senior executives, professional recruiters and employers to connect directly for $100k plus contract deals is actually realizing faster growth than when Pinterest launched.
According to a new infographic from Funders and Founders shows Pinterest barely managed to draw 200 users in its first 4 months. In contrast, Director of Recruiting, Jessica Jones says startup ExclusiveEmployers.com already boasts “over 74k recruiters and employers, including Fortune 500 companies, as well as over 50k senior executives registered and discreetly looking for positions”.
So while linking up online may still be the best way to search for a job and land top talent, it’s just not on ‘in’ to be on LinkedIn anymore.