The Hidden Job Market
What is the Hidden Job Market?
It is estimated that only 20% of all jobs are ever advertised, meaning 80% of jobs are filled by companies who never advertised the position. Instead these positions are filled by referral, the "who do you know" method of recruitment. So while keeping an eye on newspaper advertisements and internet job search sites is important, the percentages are in your favor if you investigate the hidden job market.
How to find the Hidden Job Market
The best way to find the hidden job market is by:
· Identifying types of employers you are interested in
· Find specific potential employers
· Finding contacts within the target employer
1. Identify types of employers
Identify the companies and organizations that you are interested in. There may be companies you are familiar with and many more that you have never heard of. Most positions are located in smaller businesses, so be sure to extend your search past the Fortune 500 list of companies.
Consider:
· Kind of industry you want to work for
· Skills sets you want to use
· Where you want to live
· Information to look for:
· Who hires people who do what you want to do
· What industry makes/does what you want to be involved with?
· What employers are in your geographic area of interest?
· Who do you already know?
2. Find specific potential employers
· Network - Tap into your network of professional and personal contacts to identify potential employers. Learn more about networking and informational interviewing. · Library - additional directories and sources of information
· General Job Search Sites - Find positions that use your skill sets. What types of employers are hiring those positions.
· Yellow and White Pages - seems old-fashioned, but still the fastest way to find a listing of employers in a specific city or area.
· Local Chambers of Commerce for the city or region in which you are interested.
NETWORKING TIPS
Follow these networking tips to help you expand your circle:
1. Develop a detailed plan to market yourself as you would a product or service. Define your objectives, target prospects, and a wish list of employers to make contact with. Maintain a log with contacts and meeting dates and follow up after each meeting.
2. Don’t ask for a job. The purpose of networking is to obtain information and gather names of other contacts. You should approach all networking meetings as though they’re job interviews. i.e., dress appropriately and know your subject matter.
3. Follow up. If others promise to forward your resume or set up a meeting for you, check in to make sure they don’t forget about you.
4. Be opened minded. Don’t overlook any networking source, including the clergy; your barber, mailman or your child’s school teachers.
5. Accept all invitations. Cocktail parties, exercise classes, fundraisers and alumni activities are all potential sources of job hunt information. Don’t underestimate any opportunity.
6. Be proactive. Here are a few ideas about how you can liven up your network as well as your exposure to people you want to connect with:
Give Lectures
Start a Blog
Join Alumni Associations
Join / attend Professional Meetings and Conferences
Engage in Volunteer Work
Attend Business Card Exchanges
Publish Articles
7. Choose a company where you would like to work and look for a contact there
8. Use online tools. Facebook, Linked-In, Myspace and Twitter are all useful resources to increase your visibility and networking potential online. Make sure all content you post is Professional!
9. Be appreciative. Prompt thank-you notes and gracious follow-up letters set you apart from others, create a pleasant reminder and leave the door open for future contact.
10. Always reciprocate. When one of your contacts calls for a networking meeting, offer all the advice and information you can. A strong network lasts a career, not just when the chips are down
Portions of this article were taken from the University of British Colombia's career website.
