when job seekers invade facebook
Soumitra Dutta and Matthew Fraser of INSEAD

The popularity of sites such as LinkedIn is soaring: less than a year ago the site had little brand profile and was seen mostly as a venue for corporate suits trolling for professional contacts while plotting their next career move. Facebook, by contrast, has largely attracted individuals seeking a compelling site for fun social networking.
Today LinkedIn’s year-on-year growth is up nearly 200 percent in the United States and it now has more than 35 million members—many of whom were formerly employed within the hard-hit financial sector. And it’s just one of the many sites to which recession-struck managers are flocking: Xing (based in Germany), with its 7 million members and special Lehman Brothers alumni section, and Meet the Boss (based in the United Kingdom), which restricts membership to C-level financial types, are also experiencing burgeoning membership levels.

This surging popularity of online social networking is transforming the nature of business networking, with profound implications for the way business people manage their careers. But it also augurs profound change for social networking itself.

With so many people stampeding into Web-based social networks, the line between social and business networking is becoming increasingly blurred.

Source: The McKinsey Quarterly.