What’s the So-Called “Hidden Job Market”
Anyone who is looking for a job has almost certainly heard the term, "Hidden Job Market." We frequently hear job seekers question, "Is there really a 'Hidden Job Market'? What is it?" The 'secret answer' is, "There is no Hidden Job Market. If job openings were realistically hidden, neither you nor anyone else would be able to find them. In fact, if job openings were truly hidden, how would an employer expect to fill them?
Executive Search Firms and Career Counselors probably use the term more than anyone else. They promote the 'Hidden Job Market' as a reason to pay them thousands of bucks to help job seekers find these 'hidden' gems of opportunity. They often lead the concerned job seeker to believe that they posses connections, information, technology and experience to lead you to job opportunities that none of them else can provide - for a hefty price. This process makes no sense. These jobs are not hidden - they're only more difficult to find.
The following quote, from an HR Professional on a recent LinkedIn discussion, fairly well sums it up:
"In my 15 years in HR, I can honestly say I've never intentionally hidden a job, and I can Not imagine why anyone would. that is not to mention, however, that I always openly advertise a job."
The "Hidden Market" is simply a various way to describe networking, in-depth research and effective prospecting - all items any job seeker must do to find a job. Several articles attain been authored about how one can find these 'hidden' jobs without paying thousands of dollars to someone else to teach them how it is done.
The lengthy and the short of it's this: Greatest employers don't immediately circulate and post their open jobs on job boards like Monster.com and Careerbuilder.com. Nor do they advertise them in newspapers and additional similar publications. Hiring a recent employee is an costly process. If they can fill the position in-house or through networking and referrals they could save a considerable amount of time and expense. Typically, employers will initially post the job internally and on their business website owner. If they're unsuccessful in filling the position though this method, their second step can to post the open position on a job board. A Special Report on CNNMoney.com explains this process:
http://money.cnn.com/2009/06/09/news/economy/hidden_jobs/
"Over 80% of today's jobs aren't offered, according to Howard Poplinger, owner of human-resource business Epic Development and Evaluation.
Companies are relying more heavily on their current employee systems, or on local or specialized job pools, to avoid the flood of unqualified candidates that arrives with high unemployment..."
"Employers are definitely leaning on their employee population to download referrals for as well as that their employees trust," said Kathy Robinson, the founder of TurningPoint, a career consulting firm in bigger Boston. "Otherwise they attain to screen thousands of applicants."
According to Robinson, open positions may eventually make it onto major job sites, but only after employers reach out to their employees or a select group of recruiters first."
The content states that "80% of today's jobs aren't advertised." But if you carefully read the whole article, it's clear that you will find jobs and they're published - they're just not published on your major job boards. So, if you know this fact, there is no reason to grab hung up on your expression "Hidden Job Market".
Let's check out some startling statistics. First, there are more than 15 million unemployed as well as in America. Add in the under-employed and that adds up to a lot of competition. Second, less than 5% of job seekers will find their job on a job board, yet the average guy will spend 90% of their job hunting efforts looking on job boards.
It is challenging to fault employers for trying to streamline their hiring process. If every job were widely posted, they would be inundated with applicants and resumes. Only sorting through them would be an enormous expense and it would require more time than that they indeed are willing to initially invest in the process.
What does it all indicate to you, the job seeker? Quite simply, you can adapt, find new job seeking skills, and put forth the effort it will require, or you can continue doing the same items everyone else does and experience the same results they do. Those who adapt and employ the right strategies will find this 'hidden' market and employers will recognize that these are the types of candidates that they indeed are looking for. It could not seem fair, but it's the reality of the world we live in.
This is a tough job market. If you're unemployed, you could not afford to be complacent or lazy. You must be willing to do the items 95% of job seekers aren't willing to do. Job boards supply a lot of visual stimulation with little results, and they eat up far also much valuable time. you'll resources available, for little or no cost, that will teach you how to locate and identify hundreds, or even thousands of jobs that might be right for you. The greatest process is to become proactive and find how to strategically apply a targeted contact to your job hunting. Employers will recognize your efforts and you'll probably end up in a better job with a higher salary - and very often in a much shorter time.
Remember, you're a qualified candidate and you have much to offer an employer. By taking the time and extra effort to seem beyond the obvious and do a little research, you'll clearly stand out from your competition. Do not become a victim of the so-called "Hidden Market". It does not exist. Take control of your future. Find how to find the jobs that are not posted on the major job boards and you'll find your career.
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