Social Hiring is fast becoming the leading source for talent, supplanting consultants and job boards. Most leads for talent will come from Extended Referrals as your employee referrals will extend beyond your employees to include your company’s alumnus, your employees’ and your alumnus’s “extended social network” expanding the reach of a company by 100X. For more information about Social Hiring technologies, solutions and India's largest job board and social hiring platform that reaches over 3Million Professionals across the country visit our Facebook page, www.facebook.com/myparichay

1. THE ROLE OF SOCIAL MEDIA IN
FINDING AND HIRING GREAT PEOPLE
What every executive needs to know about
talent sourcing and hiring to stay competitive

2. THE ROLE OF SOCIAL MEDIA IN FINDING AND HIRING GREAT PEOPLE
1) Social Hiring is fast becoming the leading source for talent, supplanting
consultants and job boards. Most leads for talent will come from Extended
Referrals as your employee referrals will extend beyond your employees to
include your company’s alumnus, your employees’ and your alumnus’s
“extended social network” expanding the reach of a company by 100X.
2) Majority of passive job seekers are finding jobs through Social Hiring route vs.
job boards and consultants combined. In a recent survey of 2,045 candidates
63% of passive job seekers found jobs through Social Hiring – Social Referrals
and Alumni referrals - while 42% of active job seekers find jobs through Social
Hiring.
3) Social Hiring applications will become the platform of choice for candidates as
they provide higher privacy to candidates vs. posting resumes on job boards.
Candidates will become more empowered “customers”. She/he will have
increased access to jobs and more information on those jobs, salary and
benefits .
4) Facebook will become the dominant talent sourcing social media platform,
followed by LinkedIn and perhaps Google Plus replacing job boards.
5) Social Hiring Applications (SHAs) (built on social media platforms)are the most
efficient (submission per fill) and cost effective channel for generating talent
leads, seeking and engaging with your talent community in a private and
secure fashion.
6) Job boards will have to reinvent themselves to define value for their
customers, both in terms of quality and financial cost. Recruitment companies
WHAT EVERY EXECUTIVE NEEDS TO KNOW ABOUT TALENT SOURCING AND HIRING TO STAY COMPETITIVE

3. THE ROLE OF SOCIAL MEDIA IN FINDING AND HIRING GREAT PEOPLE
will have to become more quality focused versus throwing resumes at clients
hoping some will stick.
7) Companies that empower their employees (through social hiring technology
and exciting referral marketing programs and rewards) will win the war for
talent.
8) Talent Acquisition Managers will talk about recruitment becoming a profit
center vs. cost center as Social Hiring Technology will generate significant
saving in hiring costs.
9) Companies will start getting rated by their candidate community about their
hiring process and culture.
10) Smaller companies will have same access to referrals because of extended
referral networks.
EVOLUTION OF CANDIDATE SOURCING AND HIRING
Until 1995 -Recruitment was relatively an inefficient market where companies
and candidates had limited access to complete market information (Job openings
and candidates). Candidates relied on their connectivity with one or two recruiters
and communicated primarily over faxes and postal mail for sharing resumes.
Recruiters maintained rolodexes of candidates and having a Rolodex of 300 resumes
was considered “large”. Companies ran print ads and waited for resumes to come
over postal mail and faxes. Real time updating of jobs and resumes was impossible.
WHAT EVERY EXECUTIVE NEEDS TO KNOW ABOUT TALENT SOURCING AND HIRING TO STAY COMPETITIVE

4. THE ROLE OF SOCIAL MEDIA IN FINDING AND HIRING GREAT PEOPLE
1995 – 2005- Internet, browser and job boards commoditized access to talent
and job opening information as companies and candidates uploaded job and CVs on
paid job boards or free sites like Craigslist. The market became more efficient as
candidates and recruiters could access job and candidate information in real time
and connect in real time using cell phones and email.
While technology evolved in this time period, the approach to sourcing and hiring
stayed pretty much the same - recruiters relying on active candidates that were
either uploading their CVs on job boards or hoping for candidates to respond to
online job postings or print ads and candidates hoping to get an email or call from a
recruiter who searched his resume on a job board vs. a rolodex
2005 and the 2010 - The emergence of Web 2.0 created technology that
started revolutionizing how people created and shared information across wiki
networks to meet their business and social research needs anytime anywhere. The
participants of the network produced/contributed information that was consumed
by other participants of the network for mutual benefit. Based on this simple
principle Wikipedia revolutionized the concept of encyclopedia. LinkedIn started as
a business networking platform that over couple of years morphed into a powerful
tool for recruiters to connect with passive candidates and do effective recruitment
research to find name and titles.
THE FUTURE IS SOCIAL HIRING.
Employee Referral is a powerful demonstration of “social hiring” concept where
employers are leveraging the social network of employees to find high quality
WHAT EVERY EXECUTIVE NEEDS TO KNOW ABOUT TALENT SOURCING AND HIRING TO STAY COMPETITIVE

5. THE ROLE OF SOCIAL MEDIA IN FINDING AND HIRING GREAT PEOPLE
talent. In a recent survey of companies in India, 85% of them use employee referral
programs to find people; one fourth of them fill more than 30% of their jobs through
employee referrals; referred employees are significantly better in quality than
candidates sourced through job boards or consultants; and 70% plan to step up their
investment in Social Hiring and Social Hiring tools.
Social Hiring is the natural progression of sourcing and hiring where majority of
people will find jobs by using their social networks of friends and colleagues and
their friends and their friends to get introduced to employers. Employers will find
talent through leads being generated by members of their employees’ and alumnus’
social media network
for mutual benefit. This
phenomenon of
extended referrals is
going to gather
significant steam as
Social Hiring
applications like
mYParichay (built on top of Facebook) will empower employees, individuals and
recruiters to interact in total privacy on Facebook. Business/workflow capabilities
will allow recruiters to use it as a powerful business tool for sourcing and hiring. One
of India’s largest IT/ITES Company has 16,000 of their employees on this Social
Hiring platform. In 9 months the employees have referred 84,000 candidates from
their social network. Now these 84,000 candidates are referring candidates for a
reward using the platform expanding the reach for candidates by over 5X in 9
months.
WHAT EVERY EXECUTIVE NEEDS TO KNOW ABOUT TALENT SOURCING AND HIRING TO STAY COMPETITIVE

6. THE ROLE OF SOCIAL MEDIA IN FINDING AND HIRING GREAT PEOPLE
IGNORE FACEBOOK AT YOUR OWN PERIL
Facebook dominates social m
media in India, in terms of network members, reach,
members
richness of features, and openness of platform and is Free. These attributes have
.
made Facebook the platform of choice for software developers who are building 8X
more business applications over Facebook than over LinkedIn. Facebook is
becoming the platform of choice for Social Hiring applications.
LinkedIn is one-fourth the siz of Facebook in terms of users, growing at a slower
size ,
rate, has closed or limiting APIs, and is expensive. LinkedIn is also finding it hard to
attract application developers to write quality applications and will continue to be a
tool for business networking and headhunting but will not be social hiring tool. In a
tool
WHAT EVERY EXECUTIVE NEEDS TO KNOW ABOUT TALENT SOURCING AND HIRING TO STAY COMPETITIVE
HIRING

7. THE ROLE OF SOCIAL MEDIA IN FINDING AND HIRING GREAT PEOPLE
recent survey of 800 US companies, more employee referrals came from Facebook
than Linked In.
Social Hiring Applications (SHP) applications are optimized for referral based
sourcing and hiring. Some of the key features that transform the underlying
Facebook network into a powerful business tool are:
a) Privacy - the ability for individuals to communicate, refer and get referred by
their friends in complete private secure fashion. Ability to find jobs without
putting up your resume on a job board.
b) Mutual Benefit and Good Karma - You help people find jobs and get cash
compensation.
c) Community Feedback - Ability to get valuable information about the job,
company and candidate from a trusted talent community.
d) Professional Information - Feature to capture business and professional
information to help match people and jobs. Coupled with a powerful relevance
algorithm to filter candidates by relevance and availability. Search for jobs across
companies, receive inside information about companies and jobs.
e) Simple but effective recruiter backend for process management - It allows HR to
post and manage jobs and referral awards through a simple but powerful web
backend.
There are four classes of applications being developed or available in the
marketplace that leverage the Facebook network. I have categorized them based
on their innovation to leverage the network and ability to transform candidate
sourcing and hiring in India
WHAT EVERY EXECUTIVE NEEDS TO KNOW ABOUT TALENT SOURCING AND HIRING TO STAY COMPETITIVE

8. THE ROLE OF SOCIAL MEDIA IN FINDING AND HIRING GREAT PEOPLE
a) Social Hiring Platforms - e.g.myParichay, These are the most impactful
applications that create a new category and mechanism for finding people and
jobs which will be accretive to a company’s current tools. They have the ability
to rapidly engage with a much larger relevant network in a cost effective fashion
to transform candidate sourcing just like job boards did 10 years ago. They are
feature rich and incorporate most of the features of the other product
categories.
b) Job Board with Facebook Skin - CareerBuilder has launched an application that
allows employees to post jobs on the wall of their friends. It is a rudimentary
application that can broadcast jobs on walls of friends and colleagues. Facebook
users have been reluctant to adopt such applications that start “spamming” their
wall with job postings.
c) Business Networking Platforms - BranchOut, These applications are trying to
create a LinkedIn within Facebook, i.e. network within a network. The ability of
such applications to replace LinkedIn is still unclear. Their efficacy as a social
hiring platform is perhaps better than category (b), but fall significantly short of
Social Hiring platforms.
d) Job Boards on Facebook - Job Boards like Monster, have created a Facebook
application that allows users to use Monster through their Facebook account. It
is not a social hiring tool but provides access to monster while you are logged
into Facebook, eliminating the need to log into Monster in a separate window.
WHAT EVERY EXECUTIVE NEEDS TO KNOW ABOUT TALENT SOURCING AND HIRING TO STAY COMPETITIVE

9. THE ROLE OF SOCIAL MEDIA IN FINDING AND HIRING GREAT PEOPLE
Ranjan sits on boards and advisory boards of high growth
human resource companies focused on transforming HR and
talent supply chain in India. Ranjan founded Summit HR with
the vision of helping CEOs and their teams win the war for
talent. Summit HR is recognized as the Top HR Outsourcing
Company by The Wall Street Journal®, International
Association of Outsourcing Professionals, The Gartner Group and Fortune®
magazine. He was selected as the “HR Outsourcing Superstar’ numerous times by
HR Outsourcing Today magazine for his pioneering contributions to the HR
Outsourcing industry in the US and India. He is a frequent speaker on various
industry panels on Social Media in HR, Talent Management, Hiring Risk
Management and HR outsourcing. He is widely quoted in leading business
newspapers and magazines. He writes column for The Financial Express, has written
numerous articles on use of psychometric tools for improved hiring and Six Sigma
applications in HR and Talent Supply Chain Management.
He serves on the board of Summit HR Worldwide Inc., Global Talent Management,
Greenwich Capital Venture Corporation and is an advisory board member of
Peoplestrong. He “commutes” between India and California. He is a member of the
Young Presidents Organization (YPO) Northern California Chapter.
He is currently pursuing a Ph.D degree in industrial psychology from University of
Utrecht, etherlands. Ranjan has a Masters Degree from The Wharton School of
Business and a MBA from the Indian Institute of Management, Bangalore. He has a
B. Tech from the Indian Institute of Technology, Roorkee.
Email: ranjan.sinha@stargtmcorp.com
WHAT EVERY EXECUTIVE NEEDS TO KNOW ABOUT TALENT SOURCING AND HIRING TO STAY COMPETITIVE