Those who tap into the hidden job market have a higher chance of success than those solely relying on public job postings. Here’s what you need to know.
In my time as a career coach for executives, I’ve noticed that some of the best-fit roles aren’t those that are listed on job boards or career websites. In fact, many of my clients have found their dream jobs when they were least expecting them to pop up.
The “hidden job market” lies just under the surface in corporations and organizations in nearly every type of industry. And those who have the skills to tap into it are the ones who ultimately end up in their ideal positions.
But what exactly is the hidden job market—and how can you access it?
UNDERSTANDING THE HIDDEN JOB MARKET
First, let’s define what we mean by the “hidden job market.” These are positions that aren’t advertised on job boards or company websites. They might be filled through internal promotions, personal recommendations, or by candidates who approach the company directly.
There’s a common statistic floating around that claims nearly 80% of all jobs are filled through the hidden job market. The real statistics are unknown, but most believe that around half of roles end up being filled by organic connections.
There are a few reasons why companies may not go public with openings:
- Cost savings on recruitment
- The desire for candidates who are a known quantity
- Confidentiality around replacing an existing employee
- Testing the waters before committing to a full hiring process
Whatever the reason, the reality remains: Those who tap into the hidden job market have a higher chance of success than those solely relying on public job postings.
STRATEGIES FOR ACCESSING THE HIDDEN JOB MARKET
Leverage Your Network
Naturally, the best place to start in an executive search is within your own network. Reach out to friends, former colleagues, and acquaintances who may know of a position that is not yet public knowledge.
You never know when someone you know knows someone who is on the hunt for a new executive. Networking is key in accessing the hidden job market, so make sure to keep your connections strong and stay active in professional groups and events.
Try Out Interviews
Jump into the ring at companies or roles you’re interested in and request informational interviews. These casual conversations can provide valuable insights into potential opportunities and help you build relationships that could lead to job offers down the line.
Sure, you may not even be looking to fill the role in question, but the more people you connect with and learn from, the better your chances of finding a job that aligns with your true goals.
Utilize Social Media Strategically
You may roll your eyes at the thought of social media being used for job searching, but it’s actually a highly effective tool in executive job hunting. A personal brand is becoming increasingly important for job seekers, and social media platforms like LinkedIn allow you to showcase your skills, experience, and interests in a professional manner.
Plus, staying in tune with companies you’re interested in on social media can provide valuable insights into their culture and may open doors to the hidden market. You’d be amazed at how many harmless comments on a post snowball into an actual job offer.
Volunteer Or Take On Freelance Work
Volunteering or freelancing in your industry can help you expand your network and showcase your skills. It’s also a great way to get a foot in the door at organizations you’re interested in by showcasing you as a dedicated and hardworking individual.
Work With A Recruiter And Coach
Recruiters often have access to unadvertised positions. If you can begin to build a relationship with a recruiter, they can help match you with potential job opportunities that align with your skills and interests.
Similarly, an executive coach may hold valuable connections and can offer guidance and support in your job search. When you can gain insight into your own strengths and weaknesses, you can better present yourself to potential employers.
TIPS FOR STRIKING GOLD IN THE HIDDEN JOB MARKET
So, you’ve begun to turn over rocks and explore the hidden job market, but how do you actually strike gold and land your dream job?
Be Prepared
Always have an updated resume and elevator pitch ready. You never know when an opportunity might arise, and you want to be able to seize the moment.
Add Value First
When networking, focus on how you can help others rather than what they can do for you. This approach builds goodwill and makes people more likely to think of you when opportunities arise.
Stay Persistent And Patient…
Success in the hidden job market often takes time. Keep nurturing your relationships and adding value to your network, even when you’re not actively job hunting.
… And Flexible
Hidden opportunities might not always come in the form you expect. Be open to contract roles, part-time positions, or even creating a role for yourself within an organization. And don’t forget to follow up on leads and keep checking in with your network regularly.
DON’T BE AFRAID TO TRY THE HIDDEN JOB MARKET
Tapping into the hidden job market requires a shift in mindset from traditional job hunting. But remember, success in the hidden job market is about playing the long game.
It’s about building genuine relationships, consistently adding value, and being ready to seize opportunities. With patience, persistence, and strategic networking, you can unlock doors to exciting career opportunities that others might never even know existed.
By mastering these strategies for accessing and succeeding in the hidden job market, you’re not just looking for a job, you’re creating opportunities for yourself and taking control of your career trajectory.
