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Summary: The hidden job market refers to job opportunities that are not publicly advertised or posted online in order to save advertising costs, for example.
The hidden job market is important to employers for its low cost, the quality of applicants it provides, and the discretion it enables. Here we examine benefits and strategies.
The hidden job market refers to employment opportunities not publicly advertised but filled through internal promotions, referrals, or direct contacts. Unlike traditional hiring practices, where positions are posted online or in print to attract external talent, these openings remain concealed from the general job-seeking public. Information about these roles is typically accessible only through recruiters connected to the company or directly contacting management.
For job seekers, a significant portion of available positions—some estimates suggest up to 80%—are never advertised externally.
This highly competitive landscape makes finding suitable employment challenging through conventional means. To tap into the hidden job market, individuals should focus on networking, connecting with industry professionals, and engaging with recruitment agencies. By proactively contacting managers and building relationships, job seekers can access unadvertised opportunities and increase their chances of securing desirable positions.
Being proactive by forming professional relationships with management and using techniques to uncover the hidden job market can help job seekers broaden their horizons by opening opportunities beyond traditional employment. The benefits of accessing the hidden job market are as follows:
1. Reduced competition for positions
People who are actively looking for work apply to public posts, job boards, and advertisements, which means hundreds to thousands of resumes received by the company. In most instances, employers are unable to process every application. When there is less competition, employers can prioritize the resumes they receive, providing applicants with a fair chance.
2. Building valuable professional relationships
Accessing the hidden job market means networking by finding company contacts, researching internal job positions, and connecting with recruiters. In doing so, you’re developing important networking skills and building professional relationships that are not only beneficial when seeking employment but can be advantageous in your future position.
The following strategies can be used to access the hidden job market:
1. Networking and informational interviews
The best strategy for accessing the hidden job market is to reconnect with your peers and former colleagues who can inform you of internal job openings. Personalize your communication with the HR department of companies and always describe your skills and interests that would be of value to them. Participate in informational interviews in which you speak to people in your field to help you understand what the job role entails and whether they are aware of upcoming openings.
2. Leveraging social media and professional associations
There’s no denying the far-reaching effects of social media, and you can use this to your advantage to network. For example, you can start a LinkedIn profile and build a reputable social media presence using Kittl’s LinkedIn Banner Templates to create a professional LinkedIn profile. Using eye-catching banners and photos helps you stand out to recruiters and potential employers by effectively showcasing your skills and experience.. Share these profiles with the management of companies you would like to work for to create a positive impression. You can also comment on the business’s social media posts, tag them, and engage with employees online. Follow professional associations and participate in events such as volunteering to learn more about the company while networking with the existing workforce.
Consider a few success stories from those who used various strategies and motivations to access the hidden job market:
1. Examples and case studies
Before graduating from college, Benny Kuo secured his employment using the hidden job market. After a quick interview process, Kuo was hired just before graduating, allowing him to walk straight into a job in his field. Being proactive, Kuo discovered that the company he was interested in had an opening for a position, although it wasn’t the position he had initially considered. Upon further investigation, he noted that the job was in the department that he desired to work in. Through his networking efforts, he delivered a resume to the company describing his skills and how his experience could contribute to the business. Today, he encourages job seekers to use alumni, networking, and self-promotion to find internal job positions.
2. Lessons learned and best practices
If Kenny had delayed his search and waited to respond to job advertisements, he would have delayed his employment and may not have landed the job with the company he wished to work for. It’s about taking the initiative and having the confidence to promote yourself and what you can offer. These practices include participation in professional programs that align with your career goals and not being afraid to reach out to HR, recruiters, managers, and companies that could open doors you never thought possible.
The hidden job market provides better opportunities for job seekers because it is less competitive and can match your abilities and experience to the position. Leveraging platforms such as social media and participating in programs, including professional events and volunteering workshops, can help you get noticed by the company. Successfully seeking employment through the hidden job market requires a confident approach in which you communicate with organizations of interest rather than wait and respond to a position advertised on a job board or employment website.
FAQ
One of the easiest strategies to access the hidden job market is by joining networking groups. These groups share information about events, meetings, and possible employment positions that are not publicly advertised. The purpose of these groups is to share information, which strengthens professional relationships and builds trust. It is a good idea to connect with alumni. Many companies prefer to share job information with alumni before openly advertising it.
Remember that networking is about connecting with people, from former colleagues and friends to professional associations and HR or management. This means asking questions about any opportunities, learning about the company’s culture, and sharing your skills and experience.
For job seekers, the hidden job market provides less competitive opportunities as there aren’t as many applicants contending for the same position. There are better job matches because you align your interests, skills, and background with those of the position and role. Individuals who take the initiative to connect with employers create strong and positive impressions, improving the odds of a callback.
Andrew (Drew) joined the Remote People team in 2020 and is currently Director, Regulatory Affairs. For the past 13 years, he has been a trusted advisor to C-Suite executives and government ministers on international compliance and regulatory issues. Drew holds a law degree from the University of Otago, a PhD from the University of Sydney, and is an enrolled Barrister and Solicitor of the High Court of New Zealand.