When I think of businesses using social media sites I tend to gravitate towards the marketing/advertising tools that businesses can use. Yet these sites can provide much more than just advertising.
 

LinkedIn is a social media site that is directly related to business.  It is a place where individuals can make professional-looking profiles which are much like an online version of a resume.  Employers can list jobs, search for potential candidates, and include information about the application process on their account.  In addition, companies have the option of listing products/services to get reviews. LinkedIn is basically a virtual networking site for individuals and businesses alike.  Not only does it help spread awareness about a company but it can also help HR find better candidates and decrease costs of the hiring process.

Studies have shown that the majority of jobs that people find are found through networking.  The New York Stock Exchange launched a new program called 'The Big StartUp'  just a few days ago and will be sponsored by LinkedIn.  According to this news release.
(http://www.citytowninfo.com/career-and-education-news/articles/linkedin-microsoft-yelp-join-nyse-startup-to-help-create-jobs-12032102)The program is geared to help young companies partner up with larger, more-established companies and to look to them for mentoring and advice. LinkedIn plans to help its users connect with one another to form the relationships and networking that are beneficial to new entrepreneurs.  This program is being implemented in response to the lack of jobs in the US; hopefully this will increase jobs and help stimulate the economy in the US.