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With layoffs happening in record numbers and the economy in turmoil, people and companies alike are trying to solve the employment and talent puzzle. Socialtext is one social networking vendor that is offering a solution to this puzzle and creating a three-way win.

In December, Bureau of Labor and Statistics reported an unemployment rate of 7.2 percent, and that has grown since then. One only has to look to the news today to hear major companies announcing record layoffs. This means there are a lot of talented people out there looking for work. It also means that companies are experiencing a significant drain on their talent and knowledge resources while cutting spending on the very initiatives that would cultivate this talent.

Organizations cannot "do more with less" and operate without crucial talent and resources forever. So, how can people looking for work find it? And, how can companies retain and easily re-recruit past talent when the economy hits an upswing stride? By nourishing connections, expanding networks, and tapping into the hidden talent and unadvertised opportunities that always exist even in a down climate.

Socialtext recently announced a free Corporate Social Network offer for the 2009 Recession to organizations looking to host Corporate Alumni Networks for sharing connections.

For those not familiar with Socialtext, its products include a full suite of enterprise collaboration and social networking tools. (You can read about the details of the Socialtext platform and their latest their offerings in this Intranet Journal article from fall 2008.)

This offer came about in a very organic way. In 2005, PeopleSoft employees experienced some massive layoffs when they were acquired by Oracle. Prior to this, Steve Tennant, Founder and President of the PeopleSoft Alumni Network and owner of Tennant Consulting had been using a variety of online tools (LinkedIn groups, online social networking (through a company which became a dot com casualty), and Yahoo Groups to organize grassroots efforts to help connect previous PeopleSoft employees.

The goal was to re-establish relationships with people you enjoyed working with, help individuals find jobs, assist companies in finding proven talent, and encourage business owners to showcase their expertise and make connections. In-person events in the Bay Area began in late 2004 and spread to other locations. Then came the acquisition by Oracle and thousands of colleagues received pink slips.

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