What is the hidden job market?
Put simply…the hidden job market comprises all those job opportunities which are not advertised.
According to the Australian Bureau of Statistics approximately 80% of all available jobs are found in this ‘mysterious’ grey area of the employment industry, in all sectors, at every level.
These statistics are confirmed by the experiences of job seekers, and career professionals in Australia and overseas, so unless you are marketing yourself to this huge expanse which holds the majority of job opportunities, you are denying yourself the biggest and best chance at winning that coveted position.
Why is the hidden job market important to job seekers?
Australian career transition consultant, Pauline Charleston wrote “The hidden job market is really about being proactive in searching for a position that’s right for you. Rather than sitting back and waiting for your dream job to be advertised or listed on the internet, you give fate a helping hand by seeking out vacancies before the rest of the world gets to hear about them.”
Employers are more likely to hire someone they know of, either through referrals, internal transfers, personal referrals or past and current applications held on file. By using such means to recruit employees, they can save time, money and ensure greater peace of mind if a candidate is recommended or has shown interest in the company before.
How do you access the hidden job market?
Firstly you need to be highly organized and prepared to work hard to win the job you desire. A successful job search is basically a well-run marketing campaign. You need to know how to sell yourself and who to sell to.
Here are a few steps to get you started – unsolicited marketing correspondence
- Identify the position(s) you want to win.
- Identify the companies you wish to work for.
- Identify the hiring manager of each company.
Research each company and find out what they are looking for and how you can meet their needs.
- Tailor a professional cover letter and resume to each individual position and company.
- Forward applications directly to the hiring manager or the person you would be working under.
- In your letter state a date you will make a follow up phone call.
- On the appointed date, follow up each application, speaking directly with the hiring manager.
- Prepare for interviews using in-depth research and rehearsal techniques.
- WOW them in person and take your career to the next level!
What are other ways to break through?This is only one way to approach the hidden job market, other methods include personal networking, face to face cold calling, telephone cold calling, and joining recruitment agencies.
The key to successfully gaining employment is self-motivated action. The more often you take action in the direction you wish to be, the more likely you are to create career opportunities to pursue. The potential for success really is unlimited.