Not knowing the hidden job market limits your work opportunities

Did you know?

“60–70% of jobs are not posted on job boards or company websites. These positions are filled in the hidden job market.”-Glassdoor

The hidden job market consists of roles that have never been formally advertised. Rather, they come about via word of mouth, internal applications, and connections.

The hidden job market exists because advertising job posting can be more time-consuming for recruiters.

So networking is the key!

Up to 70 % find a job through networking. Especially among senior executive job seekers.

Compared with advertised jobs wherein from 250 applicants only 2–6 are interviewed.

HIDDEN MARKET JOB SEARCH STRATEGY

1. Clarify Your Job Search Goals

Before you do ANYTHING in your job search. You have to be clear on who you are, the value you bring to an organization, and your long-term vision.

2. Identify people in your network.

— How can my network help? Who do I know in that industry?

— Who do I know that are super connectors? LIST THEM. List all the people you know in that industry. List all the people who have a lot of influence and connections to decision-makers.

Who you know is one of the most powerful equalizers in any job search.

You can move from being another name on a resumé to getting a personal introduction to the hiring manager.

3. Target and connect

The GOAL is to be referred to your potential boss through someone in your network

— What companies are doing great work in my industry? List 15–30 target companies you are interested in.

— Go through your list of people in your network — message, meet, call each and one of them. You don’t have to ask a favor. Simply reconnect and let them know you are in the market.

— Search in Linked your target companies. Search if anyone you know works there, connect.

— Provide value to them- engage in their post.

— Conduct Informational interviews. This time, you’ll be the one to be the interviewer! Isn’t that fun? Plus you can get great advice about their career, they can give you tips and perhaps some opportunity. But remember — never ask for a job during an informational interview!

3 steps of an informational interview:

A. Send a proper personalized email or Inmail in LinkedIn.

Establish a warm connection, tell them how you admire them.

Email example:

“I hope this email finds you well. I’m a regular listener of your podcast. I love your ideas about _______. I’m a senior technical recruiter, I’m also passionate about______. The work you are doing is really interesting to me. I imagine that you are busy, but would you have time for a 20-minute informational meeting with me? I’d love to learn more about your career and if you are willing, to give some advice on how to position myself to hire managers of innovative startups. I know your office is at____. I’d love to treat you a tea or any caffeinated beverage of choice. Thanks for your time.”

B. Prepare 5–6 open-ended questions- the goal is for them to share their experiences.

— I know that you [spent ten years at X before this,] but how did you start in [this industry]?

— Is there something you wish you’d known or a skill you wish you’d had started in [this industry]? Or Is there something you wish you had done differently starting?

— What’s the culture like at [this company] compared to [prior company]?

— What current issues and trends in the field should I know about/be aware of?

— In your organization when you’re getting ready to hire, in what position do people usually enter?

— What are your favorite industry networking events? Will you be attending any in the future

— Is there anyone else you think I should speak to? (Always ask this question! Let them offer to introduce you to their connections.)

C. After preparation, time to meet them! Look professional and arrive early. Make an engaging conversation. Be genuinely curious about them. Show how you value their time by being attentive — so stop looking at your watch or looking distracted. Also, a thank you note after the interview is always appreciated.

4.Get out of your bubble

Expand your network. Take a bold step that no other people do.

-Attend networking events by yourself or visit a career fair.

-Leverage conferences, or trade association.

-Ask people in your professional network and VOLUNTEER.

-Mingle with other attendees. Bring business cards. Ask for theirs as well.

The hidden job market is the path less traveled by — intimidating but more rewarding. Not only you will find a job but you will also establish a long-lasting professional relationship.

So go out there and explore the hidden job market!

Based on Sarah Johnston’s Hidden Job Market course in Linked In Learning.