According to recent blog post from LinkedIn:
“Follow Company” helps you be among the first to learn about developments at companies like DreamWorks, find job openings at NASA or stumble upon business development opportunities at Netflix. The new feature lets you tap into key goings-on at nearly a million companies that already have their company profiles on LinkedIn and more that are being created every day.
Most importantly, this feature can deliver insights – you may be surprised at – such as the pace of hiring at your nearest competitor or the start of a whole new industry as you see web technology companies hiring geography teachers (for e.g.). Or better yet, you may find the job of a lifetime to do cause marketing for Major League Baseball.
What happens if you follow
After following, you can see the updates on your followed companies from the Company Menu in LinkedIn. The statuses may contain job opportunity, new recruits, promotions, etc.
Now, the question comes: what can you do with this feature and utilize it for your career or business?
Here are some of my suggestions:
Do you have a dream position?
If you care for a position in a specific company or a range of several companies, then this “Follow Company” feature will give you the insights you need.
Be prepared for the vacant position earlier than others
When you know that someone has left the company, you can be mentally prepared than others before they advertise for the post.
How reliable the company is?
The promotions and employee turnover monitoring over few months, can give you insights on how reliable the company is for you. This insight can be helpful if you want to be an employee there or want to acquire the business.
Following a company will also give you insights about the growth and shrink of a company and also will help you to spy into their activities. Often introduction of new positions and mass recruitment may tell you that, the company is really cooking something.
Predict employee movement from your company
Once you have the insights on the competitive intelligence, you can be on the top of industry trend and make your employees happy. If you fail to do so, then this feature can also tell you which person is likely to to shift to the vacant position of your competitor.
Get attention of the company
When you follow, the company page admin gets a email notification and your profile is also listed as followers of the company.
Be informed about your counterpart if the company is your client
If you are already dealing with the the company as a supplier, you may know that the ex-employee that you dealt with, has left. But, you might also like to know about the new person they are going to hire for the position. So, this will give you some insights. You can also use this for lost clients and try to freshly convince the new employee.
B2B Outsourcing Opportunity
Sometimes for many companies, a vacant position can be tough to fill in and can be time consuming. So, for the time being to meet client demands, the company may need to outsource the work. If you are into outsourcing business for businesses, then the feature can help you keep your eyes open.
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So, get going and find your favorite company from LinkedIn and Follow Companies.