EVALUATING THE EFFECT OF SOCIAL MEDIA IN JOB CREATION

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EVALUATING THE EFFECT OF SOCIAL MEDIA IN JOB CREATION

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

The effects of social network platforms on employment generation has been accorded minimal attention, however it is important to explore the impact this evolution has had on a major part of the economy, which is the labour market. A labour market in an economy functions with demand and supply of labour, whereby “labour demand” is the firms demand for labour and “labour supply” is the workers supply of labour. However the demand for and supply of labour are determined by a number of factors, one of which is access to the supplier and demander. In addressing the issue of access which can be coined as recruitment, technology can be said to have a played a great role.

The evolution of the Internet to web 2.0 has witnessed the rise of a phenomenon known as Social Media Networks (SMN). It is a relatively new era of web 2.0 technologies. The growth and buzz created effectively matches that of the dot-com era, becoming a facilitator of social interactions and collective action in cyber space (Parameswaran et al., 2007). Users of social media tools use them in a variety of ways for varied reasons, including professional and personal reasons. These activities include building networks of friends or colleagues, entertainment value from watching interesting videos, for publishing thoughts, recruitment, building reputations and that is just to name a few of its uses. It has become an effective communication channel that is increasingly embraced by jobseekers and it is changing the way they interact with organizations. This shift has had an impact on recruitment – where an evolution has already been witnessed, from traditional forms of recruitment to Social Media.

Social networking sites are able to provide a method for organizations (firms demand) to build two-way communication and engage prospective employee (workers supply). The use of social media as a recruitment tool throws up some opportunities and challenges for employers and prospective employees. Social media potentially offers speed, efficiency and the ability to target and attract specific, particularly apposite candidates in the recruitment process. It can provide a useful additional source of information on potential job candidates, especially since some data (at the personal as well as the professional level) may not be generated for the purpose of recruitment, and therefore may provide candid supplementary information on the applicant. For prospective employee it potentially offers multiple sources of information about the employer and the possibility of contact with existing employees to gain a more realistic job preview. Examples of social media include Facebook, LinkedIn, MySpace, Twitter, and Jobberman. Although there are some specific differences that exist between these sites, on the broader scale, they are the same. (Smith, 2010). “LinkedIn and Facebook, however, stand out as recruiting tools since they both include job-posting features for recruiters. Facebook and LinkedIn are most popular among young professionals. In a study conducted on 430 employees, LinkedIn and Facebook use is highest among the employees who are aged 26 to 45. In addition, 52% of the people surveyed use LinkedIn, 49% use Facebook, 31% use MySpace, and 6% use Twitter (Skeels, 2009). Employers who use LinkedIn and Facebook, as a result, have the highest potential of reaching young professionals in the workplace. In July 2010, Facebook revealed that it had over 500 million active users (Schroeder, 2010). In August it was reported that U.S. web users spent 41.1 million minutes on the website. That is equivalent to 9.9% of their entire time web-surfing that month (Schroeder, 2010). LinkedIn, on the other hand, has 30 million users and is used purely for business and networking reasons (Bulik, 2008)’’. Both of these sites, as a result, allow users to connect with others and tap into their internal network and contact business professionals. Based on the foregoing it can be seen the changes that have and can occur using this technological evolution, however there is scarce academic research on the role social media has played in employment generation in Nigeria and the role it can play in bridging the unemployment gap in the economy.

The size of the labour market in any economy is very important and cannot be left unattended to. The 18% growth rate of unemployment in the last 5 years (Index Mundi, 2013) has set off an alarm. The Unemployment problem in the country is one that cannot be left unattended to. Between the years 2000 and 2004, the national unemployment rate was increasing and decreasing. However, from the year 2005, the figures have been on a steady increase from 11.9 in 2005, 12.3 in 2006, 12.7 in 2007, 14.9 in 2008, 19.7 in 2009 and 21.1 in 2010 (NBS, 2010). This unemployment rates cut across all states, tribes and genders although with gender it varies with the different sectors of the economy. The major employer of labour is the agricultural sector employing about two-third of the entire labour force and responsible for 30.9% of GDP.

The labour market is becoming increasingly competitive as more graduates are being released from the various tertiary institutions without the necessary demand for them. This gap caused by the ever-increasing labour supply has left the government of the country with a serious problem in their hands. An attempt to curb this growth has led to several policies being put into place. Some of these include the introduction of the EDS (entrepreneurial development studies) to the curriculum of students in the Universities. This is aimed at reducing the number of Job Seekers and increasing the number of Job Providers in the country. However, this has not been very successful because most of the universities make these classes theoretical rather than practical in nature.

In the continued attempt to reduce the unemployment figures, a new development has been linked to the employment status of people. It the epidemic called social networking. According to Pinstripe, 2012, half of all adults belong to at least one of the three main social networking sites; Facebook, Twitter and Linkedin. Social networking is fast becoming a concept common to every individual and is used both for personal and professional activities. Many use it to reconnect with old friends while others use it has a platform for advertisement. But more recently, it has been used increasingly for connecting the two sides of the labour force together. A study done by Jobvite, (2009) showed that 83% of companies use or plan on using social network for recruiting. When the study was repeated in 2010, it was discovered that the figures had moved up to 92%. This use of social media for the purpose of recruiting has been termed Social Recruiting.

1.2 Statement of Problem

The level of employment in a country can be used to gauge its economic performance. This is because attainment of full employment is one of the macroeconomic objectives of any nation. An attainment of full employment means that the available resources; human and otherwise are being effectively used. However, contrary is the case when it comes to unemployment, it is always a concern to the government of a country and the citizenry at large. It involves wastage of resources and a country operating within its Production Possibility Frontier (PPF). The growing rate of graduate unemployment calls for immediate attention because these are the people who are meant to be the heart of the labour force.

The current level of unemployment in the country is 23.9% (World Bank, 2013). According to the chairman of the SURE-P program, there are at least 40 million Nigerians without job. The level of job creation in the country has been inadequate to keep up with the pace of the expanding working age population. This is due to the lack of developmental programmes being put in place by the government. Even more disturbing is the fact that the youth unemployment makes up 50% of the total rate (Rise Networks, 2013). The youth which represent the future of the country are mostly unemployed.

There is therefore a need to try and reduce and gradually eradicate this phenomenon. It is in light of this, that I plan on showing how social recruiting can be used to solve this challenge facing Nigeria. Social Recruiting is being used in all developed countries and as slowly started entering the Nigerian Recruitment System. It is a system whereby buyers and sellers of labour come together via Social Network Platforms. Even though the major challenge facing the Nigerian Labour Market is the excess supply of labour given the level of demand, Social Recruiting still looks at how even firms try to make their companies more attractive so as to get the best available applicants in order to increase their level of productivity. Social Recruiting as a solution to this problem is majorly because we are in an electronic age. 80% of people own at least one gadget; either a laptop or a tablet or a Smartphone which is usually connected to the internet and with the emergence of Social Networks such as Facebook, Twitter, LinkedIn, Instagram, most youths spend a lot of time on the internet. Even though there is a downside to this, the advantages outweigh the shortcomings. This is because most employers are not looking for plainly book smart people, they want people who are flexible and can adapt quickly to change. They therefore see participation on Social Networks as a proof of this much sought after attribute. This research through the use of Questionnaires hereby seeks to show how participation in Social Networks especially the giants; LinkedIn, Facebook and Twitter can help in the reduction of the unemployment status and strengthen the Labour Market as a whole.

According to Jobvite 2012, “Social Media has quickly become a dominant force for companies to find and hire quality talent. This is because it allows employers to tap extended networks for candidates that would not have been found otherwise, social recruiting offers tremendous value to companies of all sizes. It has become an essential avenue for recruiters to successfully compete in the war of talent”. The global phenomenon of social media is having a significant impact on the world of work and on job markets. Social media is no longer a trend to simply ‘keep an eye on’. Instead it will inform strategies and policies across organizations – from internet usage policies to sales and marketing, recruitment and retention, motivation and conflict resolution – the list is endless (Nigel Wright, 2011).

This study therefore aims at looking at the influence social networks have on employment generation in Nigeria, to look at how based on the success stories in other countries can be fully utilized here to gain such results both now and in the future. It also aims at looking at the extent to which it has been used in the country so far and the possible room for improvement.

1.3 Research Questions and Objectives

The main objective of this research is to find out the impact social networks have had on employment generation. While the specific objectives include:

To what extent have social networks been used to reduce the unemployment level in Nigeria
The effect of social networks on the quality of employees.

1.4 Research Hypothesis

In an effort to realize the objective of this study, we will subject these hypotheses to test.

H₀: This is the null hypothesis

H₁: This is the alternative hypothesis

H₀: Social Network presence does not increase employment opportunities.

H₁: Social Network presence increases employment opportunities.

H₀: Social Networks are not great platforms for bringing employers and employees together.

H₁: Social Networks are great platforms for bringing employers and employees together.

H₀: The Use of Social Networks does not lead to Employment Generation.

H₁: The Use of Social Networks leads to Employment Generation.

1.5 Scope of Study

This study focuses primarily on the Nigerian economy, using specific areas such as Lagos, Ota and Ibadan as case studies. However, references may be made to other countries or continents as the need may arise.

1.6 Significance of the Study

This research is of utmost importance as it addresses one of the major challenges facing the Nigerian economy and it seeks to find out ways in which this problem can be addressed. A lot of works have been done previously on social networks, but little or no intensive work has been done on relating the social network presence to the recruitment process in Nigeria. Also, most studies look at social networks in terms of social contacts rather than social media. It is also important for us to move with the changes going on in the world. This study therefore aims to show how this has been implemented in other countries and how it can be of use to Nigerians since the major cause of unemployment is the ability to bring the supplier and demander of labour together. Through this research, policy options would be provided that would be useful to economic policy makers in policy making and also, it would also be useful to organisations and government in making impactful decisions.

1.7 Methodology of the Study:

Method of Data Collection:

The type of data to be used for this study is primary data. Therefore, questionnaires would be distributed both in Lagos, Ota and in Ibadan.

Method of Data Analysis:

The qualitative data collected from the questionnaires would be changed to a quantitative form which would now be used for the study using the binary method.

1.8 Limitations of the Study

Given that the method of data collection is the use of questionnaires, we are bound to encounter some errors in the compilation process. Also, the paper lacks sufficient external validity.

1.9 OUTLINE OF CHAPTERS

Chapter 1 Introduction

This chapter provides the reader with some background information on the emergence and growing importance of social media networks and its importance in the relationship between demand and supply of labour, that is the recruitment process. It provides an introduction to how organisations and the general public are responding to the issue of Social Networking and its economic as well as personal outcomes. The subject matter of this study is analysed and justified and the overall research objective and the research questions to be addressed to reach the identified research objective are established.

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