The “Hidden” Job Market
As a Job Search Strategy Coach, I continually am working with individuals who are in search of their next job opportunity. It is common that the initial questions I will receive will center around such topics, as what are the best job sites to use, how to you modify one’s resume to get it to the top of the pile to get past computer screening tools, and how can Artificial Intelligence make my resume stand out? These are all valid questions, as they are part of today’s job search process. However, experienced job searchers learn that applying to posted jobs that are advertised and posted online is not the only way to job search. Those who are “in the know,” or have been in search several times in their career, know the value of “the hidden” job market.
Before we go much further, let me make a few items abundantly clear. About 70% of all job openings are in “the hidden job market.” That means they are not posted or advertised on online sites. Secondly, to be able to access “the hidden job market,” you do not need to be part of some sort of secret society or underground group. However, to tap into the hidden job market, one does need to take control of their own job search and be willing to put effort into that search.
So, what type of effort is required? At the top of the list is both tapping into and building on your network of associates that you know. Those individuals can come be former work colleagues, your friends with whom you do activities, family members (both immediate and distant), and alumni from your college or high school. Each of these individuals may either know individuals in the disciplines which you work, that you in turn want to have as part of your network. It is taking the time to identify companies or organizations within your area that hire individuals with your skill sets, and reach out to learn of possible openings at the current moment. If employed, but not happy with what you are doing, it is learning of opportunities in other parts of the company in which you work. It is conducting “Informational Interviews” with others to learn about their career path trajectory, learning about what their organization does, and the challenges it faces. Or it could even be learning of challenges an organization is facing, listening to those challenges, and offering yourself as an expert in addressing those issues.
One may ask, why would an employer not post or advertise an opening, or may also ask aren’t they required to do so by law? Online advertising and posting costs money. It many times can be a long process, from time of posting, through going through screening with talent acquisition professionals, to multiple rounds of interviews. Also, usually those that are referred through the “hidden job market” come from trusted referral resources, particularly if they are individuals that have worked with the recommended candidate before.
Therefore, should one be exclusively using the “hidden” job market for their job search? No! In fact, one should keep in mind there are 4 ways to find a job. Those 4 ways do not stand on their own entirely. Posting for jobs one sees advertised on online job sites, (or company websites), still should be done. However, it should not be overdone. Review the job qualifications. How well do they match your qualifications that you provide, (i.e. are they at about an 80% or above match level)? Are you able to provide examples in the materials you provide when you apply that show how you have addressed the issues this organization is likely to have?
One may also want to reach out to recruiter or talent acquisition individuals, who specialize in one’s specialty. Individuals who recruit for your specialty will always want to have talented individuals at their fingertips to refer to possible job openings. Whether “hidden” job or not, the methods of networking or direct contact with a firm are also ways to learn of openings that are appropriate for you.
However, to exclusively tie one’s search to only certain job sites, or expect that if I use Artificial Intelligence tools to craft one’s resume, guarantees that I will be considered a top candidate for a job opening is a sad premise on which to rely. Realizing that your next job may not even be officially posted online, may be only a figment in the mind of a hiring manager, or even be developed based on a company learning of you and what you can provide, gives you another avenue to explore as you take on the search for your next opportunity.
