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Hidden Job Market
– Jobs that are never posted

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It seems almost a cruel joke being played on people desperate to find work: Most jobs getting filled these days aren’t even advertised.

Instead, they’re typically part of the hidden job market — those millions of openings that never get formally posted. It now accounts for up to 80% of hires, according to some estimates.

Many job seekers are frustrated by the inability to find a job despite sending out dozens, hundreds or even thousands of resumes. To many, it seems like their applications are being sucked into a black hole. – If you are applying for jobs online, that is about where they are going.

 

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That perception may be truer than you know, because of something called the hidden job market. These are positions that are filled either through unanticipated hiring or with previously identified candidates, regardless of whether the post was advertised or not.

The practice of advertising a position even though an applicant has already been selected is one that “just makes job seekers scream,” says Duncan Mathison, co-author of Unlock the Hidden Job Market: 6 Steps to a Successful Job Search When Times Are Tough.

This much is known, however: When the economy is thriving and employers are hiring like gangbusters, the hidden job market shrinks. Conversely, when times are bad and jobs are harder to come by — such as during the recent recession — it expands, with as much as 70 percent of jobs being filled using back-channel methods.

Though today’s job market remains weak by several measures, Mathison says that it has improved sufficiently to shrink the hidden job market to about 50 to 55 percent of all jobs filled.

As The Wall Street Journal reports, companies aren’t doing anything illegal in either hiring for jobs that haven’t been advertised or soliciting applications for positions already filled, Employers defend the practice, saying research has shown that internal hires generally perform better than external ones, at least initially.

Still, it pays for job seekers to keep plugging away, searching for opportunities at companies where they’d like to work. Strategies, such as reaching out to hiring managers directly or contacting employees of a company to learn whether there are any jobs open or becoming available, can help applicants uncover some jobs in the hidden job market.

 

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As Mathison says, companies always keep an eye out for top talent — even when hiring is frozen. That way, when hiring resumes, they have a ready pool of applicants from which to choose.

Given the choice, most employers prefer to fill positions without advertising. It saves money and time. More important, managers who do the hiring often believe the most suitable candidates are people who already work for their firms (or once did) and referrals from staffers.

So there you have it – More than 70% of all available jobs are not posted online. There are many reasons for this, but the net result for you is that there are more than twice as many jobs for you available right now—this is the ‘hidden job market.’

The key to tapping into this hidden job market to find these jobs and get interviews for them is to contact the hiring managers for those jobs directly. The hiring manager is someone who would be your boss, or your boss’s boss.

How can you get clued in to those hush-hush positions so you can apply for them? I recommend that you register for one of our free webinars on several topics of interest and for offline, download one of our free e-reports.

 

For Webinars, Webcast and eBooks – All Free

  • Weekly Live Webinars with Q&A. – twice a week.
  • Daily non-live Webcast. – several times throughout a day.
  • eBooks. – all ebooks are free and downloadable as Pdf’s

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