What Is The Hidden Job Market?
Gone are the days of simply applying for advertised jobs and landing one is a matter of days.
The job search market is much more competitive now and with tight recruitment budgets advertising a vacant role is often the last resort for a recruiter, HR or hiring manager. The fact is you will need to tap into what we call the “hidden job market”. Its not hard and its no more time consuming but you will need to be active and focused. You will also likely feel out of your comfort zone but as we say at Y Executive “you need to do it anyway” and “what’s the worst that can happen?”
What is the hidden job market exactly?
Basically it refers to all jobs that are not advertised. Many professional theorists and job search professionals believe that up to 70% of all vacant jobs are not advertised.
Types of roles in the hidden job market include:
– Jobs advertised internally by organisations
– Jobs that are filled by recruitment agencies using candidates in their existing database
– Jobs obtained through word of mouth
– Jobs that individuals proactively seek themselves
This means that tapping into the hidden job market is integral in your job search efforts.
Ok. I’ve got it. So how do I tap into it?
The below are some ways that you can tap into the hidden job market.
– Ensure your LinkedIn profile is kept up to date
– Use professional branding so prospective employers know who you are
– Join professional networks and associations to increase your personal network of contacts
– Develop and perfect your career elevator speech
– Network, network, network
– Register with recruitment agencies. 1 or 2 bigger agencies and 1 or 2 boutique firms.
– Directly contact recruitment and HR professionals at the organisations you would like to work for.
The most important part of tapping into the hidden job market is to be persistent and to use your connections in an honest way. If you are interested in getting access to Y Executives LinkedIn cheat-sheet please email us at firstname.lastname@example.org and we will send it to you.