Did you know many job openings are never actually published online? Instead, these roles are filled through other means like headhunting and/or word-of-mouth. This phenomenon is known as the ‘hidden job market’.
It’s true. Not every job gets advertised. Especially high-level or specialized positions. Some companies prefer to opt for the ‘hidden job market’ to save time, cut hiring costs, and/or find candidates who are already vetted.
Here’s what you need to know.
Overview
What is the hidden job market?
Simply put, the hidden job market refers to vacancies that are not formally advertised.
For instance, a company might be actively hiring for a VP of Technology – but you wouldn’t know because they didn’t advertise it. As a result, this job is hidden from plain sight and can’t be applied to.
Direct Recruitment
Direct recruitment is one of the most common ways for a company to bypass advertising their openings.
This involves proactively searching for and reaching out to potential candidates (rather than waiting for candidates to apply). Direct recruitment is most common for senior-level positions, niche roles, or highly specialized jobs when the company seeks to keep their vacancy out of the public eye.
Referrals / Word-of-Mouth
Another strategy that companies use to bypass posting their jobs is leveraging word-of-mouth referrals.
Many companies employ referral programs to leverage the connections of their existing employees. These programs incentivize employees to recommend candidates from their networks for open positions. Since these positions are filled through personal networks, they may never be posted on public job boards.
Internal Promotions
Promoting candidates internally is another method companies use to fill roles without posting them publicly.
Sometimes companies prefer to fill vacancies by promoting from within rather than searching externally. If you aren’t a current employee, there’s no way to know the company is hiring for that role.
Tips for Tapping Into the Hidden Job Market
Tapping into the hidden job market isn’t particularly easy because, well – it’s hidden. Having said that, there are some things you can do to improve your visibility and increase your odds of being considered.
- Build a Strong Network: Attend industry events, participate in online forums, and maintain connections with former colleagues.
- Conduct Informational Interviews: Proactively connect with industry professionals to gain insights about companies and potential job opportunities.
- Engage with Recruiters: Connect with specialized recruiters who may have access to unadvertised roles that align with your background.
- Reach Out Directly: Proactively contact companies of interest to express your enthusiasm and inquire about potential job openings.
Sending Your Resume to Recruiters
Getting your resume into recruiters’ hands is a great way to tap into jobs that are not publicly advertised.
In Conclusion
In conclusion, I hope this article gives you a better understanding of what the hidden job market is and how it works. Just because a company isn’t advertising a job opening, doesn’t mean the opportunity isn’t there.
Credit: jobstars.com