Networking - The Web 2.0 Way: Srinivas Rao

We are leveraging on social media outlets to strengthen and promote our employee referral programs – often cited as the most cost effective source of qualified talent. Social media allows organizations to have long-term dynamic relationships with an extensive talent pipeline.

By formally incorporating social networks into our talent management strategies, SAS has taken ownership of how our employment brand is portrayed, further facilitating co-ordination, communication and encouraging mutual trust, decreasing turnover, reducing cost per hire, improving new hire time-to-productivity, managing a contingent workforce, reducing the “buy versus build” dichotomy and improving talent scouting.

Unless employees feel connected to the company’s plan and mission, they will try to find an organization that will keep them connected to the larger purpose of the organization. ‘Network as platform’ is a collaborative medium, a place where all employees can meet to read and write. Web 2.0 initiatives include social networking sites, blogs, wikis, video sharing sites, hosted services, cloud computing, YouTube, Twitter, SlideShare, Article base.

Social networking sites like Facebook and LinkedIn are cost-effective modes for employer branding and social recruiting campaigns. The HR function is able to demonstrate ROI by highlighting how recruitment costs can be reduced, address turnover and enable better communication between senior leaders and the workforce, through social networking platforms.