How can a job opportunity be hidden? In reality, many jobs are not advertised and may never reach the stage of going online. VadarMoss discusses the hidden job market, the opportunities associated and how you can tap into it.
People primarily focus on career sites and job boards to find their next role, but many are missing out on the hidden job market, an abundance of opportunities that may not be posted online. While you may not be actively looking for a job, it doesn’t mean you can’t remain connected to relevant opportunities available on the market for your next career move. If you’ve been in your role for several years and are considering the next step, you can unlock the opportunities of the hidden job market.
Typically, hidden job opportunities will attract higher-quality candidates. Businesses often prefer referrals and internal recommendations, which means a potential candidate will compete against a smaller pool of talent, increasing your chances of securing a new role. Sometimes, the best career moves appear with unexpected opportunities. The hidden job market can reveal new roles you never previously considered.
Understanding the Hidden Job Market
According to the Imperial College London, it is estimated that up to 75% of posts for jobs are typically filled through the hidden job market. Often referred to as the unadvertised market, the hidden job market consists of opportunities that aren’t publicly posted. Advertising a job can be an expensive process and may generate multiple applications which can be time-consuming to process.
Some job industries are so popular that the employer may receive enough speculative applications to fill the position. These roles may not be advertised traditionally on job boards, career sites, or company pages. The opportunity exists primarily through word of mouth, through referrals and networking. How can a potential candidate strengthen their chances in the hidden job market?
Networking
Building and nurturing your professional network is critical and can be achieved by attending industry events, engaging with others on LinkedIn and connecting with colleagues and team members. Sometimes, a casual conversation can lead to the perfect job opportunity.
Informational Interviews
Connect and engage with professionals that you respect in your industry. Request the opportunity to learn more about their role and business, as this can open doors to unadvertised positions.
Focusing on LinkedIn
LinkedIn remains the primary platform for professional networking. Optimising your profile and highlighting your skills and experience is essential. Make it clear to others that you’re exploring new opportunities without displaying this to your current employer.
Building trust
An advantageous approach for passive candidates is focusing on strengthening connections and relationships with recruitment agencies, executive search firms, and other career-related experts. Recruiters understand the job market and the requirements of employers and candidates. Building a trusted relationship, they recognise your skills and career expectations, which enables them to match you with opportunities that meet your goals and values.
Gain access to new opportunities
Recruitment and executive search companies often have access to exclusive, unadvertised opportunities. Businesses will depend on these professionals to find them the best talent, and so staying connected will put you in a stronger position for these exclusive roles.
Strengthen your career path
Recruiters provide valuable career advice, identifying your strengths and weaknesses and offering support on enhancing your employability. Career support from recruiters is vital to navigate your career path and will only improve your access to the hidden job market.
Applying discretion
Recruiters recognise the process of confidentiality with passive candidates, enabling you to connect with prospective employers without impacting your current role. Assuring confidentiality is critical for many people and can be challenging to achieve in the open job market without the support of a professional recruiter.
Personalised job matching
Working with a recruiter enables a more personalised approach to job matching, incorporating your skills, experience, interests and long-term aspirations.
Building long-lasting support
Establishing a long-term relationship with a recruiter means you have a support network throughout your career. Even if you’re not considering a move, recruiters can inform you about industry developments and new opportunities.
Building connections with recruitment consultants and other executive search organisations delivers multiple benefits, including more access to the hidden job market and its associated opportunities. Establishing these trusted relationships is critical in building long-term career success.
In our next blog, we explore the more advanced techniques for navigating the hidden job market, including strategies for standing out and making your move when the perfect opportunity arises. Stay tuned!
