The Hidden vs. Published Job Market
Before job openings are advertised on major job boards and company websites, they are typically filled through internal promotions or lateral moves, management team and staff referrals, word-of-mouth, recruitment firms, and industry association networks. Plainly put, this is the hidden job market, also known as the unpublished job market. It is how roughly 80% of jobs are filled.
Job seekers interface with companies in very different ways, depending on whether they pursue the hidden or the published market. Let's take a look.
BEFORE the job is published (Hidden Job Market), the job seeker:
▪ has the opportunity to meet relatively quickly with the hiring decision maker.
▪ experiences very little competition, if any.
▪ is able to fully leverage his/her value proposition instead of having to fit perfectly into the box of the posted position.
▪ has the opportunity to learn directly from the hiring manager precisely what is needed in the ideal candidate.
▪ enjoys a shorter hiring process.
▪ experiences fewer formalities.
AFTER the job is published, the job seeker:
▪ struggles to get the attention of the HR department.
▪ is often blocked/filtered/delayed by the HR engine.
▪ experiences a high level of competition (companies tell stories of receiving hundreds, if not thousands, of resumes for job postings).
▪ finds that HR doesn't care about a value proposition, unless he is a near perfect fit for the advertised role.
▪ struggles to learn what the company is really looking for in the ideal candidate.
Tapping into the hidden job market starts with knowing your value proposition, having a plan that includes a well-defined list of employment targets, refining your written and verbal communications to appeal to the hidden market, and managing the search like a business project (scheduling activities and metrics to measure progress).