What is the ‘Hidden Job Market’?
Although is varies by industry, most available jobs are never advertised. So, what does this mean for the first-time job seeker. If you are hoping to find a potential job by looking for job postings, you could be missing or excluding 75%+ of the actual jobs available…’The Hidden Job Market’.
So why aren’t all available jobs posted or advertised?
It is true that most positions within governments and larger companies require a new position be posted. Most companies realize this is a long arduous process and if they can effectively fill a position without going through a long hiring process, they will. This creates the hidden job market.
It is your best job-search strategy, as a graduate looking for that first job, to understand. Be proactive and identify new opportunities within this hidden market.
New jobs can arise any time. New products within a company, re-structuring, mergers, all create new employment opportunities. The urgency to fill these roles of primary concern. If a company can identify potential candidates without advertising the jobs the timeframe for hiring can be greatly reduced.
How does a company find candidates without advertising or posting the position?
First they will look at those people who will have recently contacted them about a job. next they ask current employees if they know of any potential candidates.
So, if you initially approach a company and there is nothing available don’t loose contact and check-in periodically. Things change and no one will fault your determination and enthusiasm. Since most jobs are filled from referrals of one form or another your ability to effectively ‘network’ will most likely be the best way to get your foot in the door.
Do not overlook the hidden job market. Hard work and job-search creativity will make you standout and be remembered.