Will LinkedIn Do to Staffing What Apple Did to Blackberry?

Posted in: factoring company staffing, Factoring Staffing Industry News, payroll factoring, staffing factoring, Staffing Factoring Articles, staffing industry, Staffing Industry Financing Company, Staffing Industry Financing News- Oct 07, 2013 Comments Off

It’s hard to imagine how fast and furious the fall of Blackberry has been. Who would have guessed that some failed valley tech-CEO with a music player would upend its entire business model in a span of less than six years? Certainly I didn’t, and neither did any of Blackberry’s storied management — including its founders.

LinkedIn’s market cap is more than what Manpower and Kelly are on track to make over the next 100 years

Such is life in a turbulent era.  The internet – like the telegraph and the locomotive before it – is disrupting entrenched market players as innovative  business models take their place.

So it’s interesting to ponder, could the same thing happen to staffing?  Could LinkedIn be on the verge of disrupting us, just as we begin our biggest conference of the year?

You might think such a notion fool hardy, but I will offer you two highly regarded sources who think differently: one is LinkedIn and the other is Wall Street bankers.

LinkedIn wants to eat staffing’s lunch. Make no mistake about it.  Most of their revenue comes from recruiters paying for job ads and subscription fees. If you somehow think that LinkedIn only has perm hiring and not temporary staffing in its cross-hairs, consider this Wharton interview with its CEO, Jeff Weiner:

WHARTON MAGAZINE: How would you describe what you’re trying to accomplish at LinkedIn?

JEFF WEINER: LinkedIn was founded as a professional graph that connected professionals up to three degrees. However, that’s just the beginning. We actually believe that longer term we’re in a position where we can map the global economy. The points on that map would be all of the economic opportunities in the world, full-time and temporary, all of the skills required to obtain those opportunities and all of the companies offering those opportunities.

I should stop here and fess up that I have no faith in LinkedIn. It’s in the fat and sloppy post-IPO stage in which spamming, email-address-book-raiding and Huffpost-esque slop outweighs any benefit of the 356 connection requests that I had waiting last time I visited the site.

But who am I to say? Some see it as a force that has standardized the online CV (resume) and that its “keep-your-friends-close-and-acquire-your-enemies” model will allow it to own the notion of professional identity. Others, especially foreign friends of mine from Uruguay, France and Russia, see it as a way to brand themselves as citizens of the global economy.

Wall Street: I mentioned they are the other major party that believes in the LinkedIn dynasty, and they are putting their money where their mouth is. LinkedIn’s market cap is more than $27 billion.   To put that in perspective, it’s more than what Manpower and Kelly would make at current operating income levels over the next 100 years.

source- http://staffingtalk.com/will-linkedin-do-to-staffing-what-apple-did-to-blackberry/#sthash.QBsGdDeA.dpuf