LinkedIn is an increasingly important tool for job search, and one area it believes it can improve is identifying other, potentially better jobs at the same company.
The social network is now working to help employees find relevant jobs within their company, and keep companies from losing great talent.
According to LinkedIn, investing in internal hiring can save companies millions of dollars each year, with the average 10,000 person company saving $7.5 million per year by reducing turnover by just one percent.
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“This completely changes the way LinkedIn jobs work. It’s not only about finding great external talent. It’s now about maintaining the talent within your organizations.”
Poaching from other companies is a major problem, especially in the tech industry, but the social network shared a few insights.
People who can find better jobs within their company are more likely to remain, revealed a LinkedIn survey that found 42 percent of respondents would have stayed if a quality position came up.
The site will also work with recruiters, helping them to analyze which job switches happen most often, and where they can potentially reduce their turnover.
LinkedIn also announced an update to its online Recruiter website, and finally launched its Recruiter app on Android.
Photo credit: Nan Palmero