SOCIAL MEDIA – Articles

Millennials (aka “Generation Y” or “Echo Boomers”) are the talk about town. A day rarely passes without a new report explaining what this generation wants out of life and how their value set are economic and cultural disruptors. As consumers and employees, GenY is therefore fast becoming the focal point of marketers, as well as cultural, religious and political leaders.

Everyone is a chatty customer in the world of social media. It’s no surprise therefore that brands are no longer created or its perceptions managed by marketers, but rather by consumers. And these talkative consumers now include your employees. Welcome to the new reality of transparency courtesy of the 500-pound social media gorilla called “Glassdoor.”

Industrial and workplace psychologist Dr. Jim Houran is looking at the accuracy and effectiveness of a new form of hiring - social recruiting. Studies reveal that even for low-level positions a failed hire costs a company double the person’s annual salary. At higher levels, the cost can be six times annual salary. Corporate leaders and HR pros tend to agree that hiring is the most important thing any organization does, yet the best method for recruitment remains debatable.

Is the social media phenomenon really a paradigm shift, or are these technologies merely new tools for doing things people have been doing for thousands of years? The authors look at the likely evolution of social media, and remind us that – especially in the world of hospitality – human interaction will still trump contact through technology.