The hidden job market: Where to find it and how to access it - Women's Agenda

The hidden job market: Where to find it and how to access it

Desperate to extract herself from a toxic workplace, a client recently told me, “I’ve applied for so many jobs over the past three years with no response at all. I just don’t know what to do next.”

Women looking to return to the workforce or make the next step in their careers frequently come to me similarly frustrated.

In the current market, every application for an advertised job competes with hundreds of other applications. Faced with an overwhelming volume of responses it is not uncommon (although it is short-sighted) for recruiters to review only enough of these applications to find a suitable shortlist. As a result, you could be the most qualified applicant and not even be considered.

No doubt many of your applications have also gone into the deep dark recruitment abyss called an Applicant Tracking System. Without the exact specific keywords the recruiter is looking for, you will be lost in that abyss forever.

But you need not despair.

Some say that as few as 5% of jobs are advertised. This means that if you rely exclusively on job boards and advertised opportunities for your job search, you are missing out on 95% of jobs. By accessing the “hidden job market”, you exponentially increase your chances of securing the right job for you.

The hidden job market is essentially every job that is not advertised, often for one these reasons:

  1. There is no advertising budget
  2. The employer (or industry) prefers to hire through referrals
  3. It is a confidential search
  4. Recruitment agents have been retained to search the market
  5. The employer is looking to replace an under-performing staff member
  6. The headcount is not officially approved
  7. The employer doesn’t know they need you yet

Chances are that you have already secured a “hidden job” at some point in your career. One client gave a great example, “I asked an associate in my network if she could fill my role during extended leave. She took that up and when the contract ended, she was offered a position with a previous employer. She didn’t accept, but she referred me and I have an interview next week.”

The trick to proactively accessing the hidden market is to network proficiently and consistently with a clear idea of who you are targeting and a compelling proposition as to why they should hire you. These five essential steps will give you a distinct advantage in your job search so you can avoid being just one of hundreds of applicants.

  1. Connect with connections. Create a LinkedIn Profile that represents your personal brand and connect with past and present colleagues, clients, peers and managers. Follow industry influencers and companies of interest. Ask for recommendations and relevant introductions. Join industry groups, initiate relevant discussions, write and share articles. Consistently.
  2. Meet with at least one person a week. A planned and disciplined approach to networking that includes plenty of face time will ultimately open doors. Remember that all networking is give and take, so make sure that you are bringing value to the meeting. Don’t forget to ask at the end of every meeting, “Is there anyone else you think I should talk to?”
  3. Know your target companies inside out. This means more than reading a website. Set up Google Alerts to be up to date with any news about them and their industry. Follow them on social media. Find people in your network or on LinkedIn who have worked with them and get in touch. Use your inside knowledge to preempt hiring activity and improve your approaches.
  4. Always tailor your value proposition. Make sure you’re able to tell employers that you are targeting exactly why they need you. Match your previous relevant career accomplishments with their unique challenges to articulate how you can add significant value to their business. If you are doing this properly, no two approaches will ever be the same.
  5. Approach targeted companies directly. Ideally, you should do this with an introduction through your existing network, use LinkedIn to contact your target employers so they have an immediate overview of your background and can see how you’re connected. Follow up by phone or email. Convey your relevant knowledge of their business and the specific value you will add.

With this job search strategy you will be front of mind when a suitable opportunity arises and the hidden job market will be revealed.

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