Accessing the Hidden Job Market

The Hidden Job Market

Let’s be honest, finding a new job can be a job in itself however it is made more difficult and frustrating by the hidden job market.

“Is this a secret I don’t know about?” … We hear you ask!

In this blog we aim to explain the hidden job market and provide you with tips on how to tackle it!

What is the Hidden Job Market?

According to Forbes and other publications around 80% of all available jobs are never actually advertised, they are hidden!

This is of course frustrating when searching for a job but there are several reasons behind this:

To save money

Advertising is extremely expensive and of course, many employers want to save costs wherever possible. If employers regularly receive speculative applications, they can shortlist potential candidates from Resumes they already have on file. By doing this, employers can save money on job adverts and recruitment fees!

To save time

With a shortlist of speculative applications already compiled, this saves a significant amount of time for the employer. There is no need for them to trawl through large numbers of applications and resumes and they know that they are also reaching people who have already shown an interest in working with the company!

With these points in mind, we recommend that you make sure you are a part of the speculative applications. It may not always be a quick response, however when an appropriate job arises, you could already be on the shortlist and have less competition than during the usual application process.

 How can you tackle the Hidden Job Market?

Aside from speculative applications, there are several other ways and tips we’d like to share with you to ensure you’re organised and ahead of the game.

Networking

Attending networking events is super important when looking for a job as you really never know who you will meet, who you have common interests with, or who you could be introduced to. Connecting on LinkedIn is a great way to solidify these connections and keep in contact.

Just like everything in life, networking is give and take, so remember to help others and in turn, people will help you!

Word of mouth

Sometimes it’s not what you know, it’s who you know! Word of mouth is still one of the most successful ways of securing work. By talking to ex colleagues, previous managers, friends and family about your work aspirations, they may well know someone who can help. If they in fact know the right person, this can also lead to an interview and skipping the initial shortlist stage.

Recruitment agencies

Not all employers use recruitment agencies but many do! We recommend to make sure you are aware of the key recruiters in your field, ensure they have your up-to-date details and maintain a relationship with them. It’s important to work with multiple recruitment agencies as some employers may exclusively work with one agency and you want to be maximising your opportunities rather than restricting yourself.

Organisation

Being organised is key and we recommend you keep an up-to-date list of employers who are of interest to you. For these employers, find a key contact and send over your Resume with a speculative cover letter or email. This will mean the employer will have your details and you may just gain yourself a place on the shortlists we discussed earlier.

Stick it out!

Good things take time and the chances are, you won’t find your perfect job overnight… especially if the roles are hidden! It’s important to stick it out, prepare for potential rejection, and not give up!

We hope this helps to unravel the mystery of The Hidden Job Market and our tips help you to find employment opportunities! We would love to support you with preparing your Resume. If you have a question then get in touch or you can order here.