Tuesday, September 08, 2009

Almost 75% of jobs are never advertised - how can you tap into this hidden job market

Ask anyone about their favorite job search strategies and the answer will be almost unanimous: classifieds. Now, ask the same people how they found their last job and most will have a story that involves some form of networking tied into it.

Career experts estimate that at least 75% of job openings are never advertised. These unadvertised jobs are often referred to as the hidden job market. Imagine, almost 90% of the labor pool targets less than 25% of available jobs. Is it any surprise, most job seekers never receive a response from potential employers? So how are these 75% jobs filled? The answer is networking.

In order to maximize returns from your job search campaign, it is very important to use a combination of job search strategies. In addition to classifieds and other job search tools you may already be using, consider adding networking to the mix.

Network your way to a job offer

Visualize the following scenario: It is peak January and Ms. Hiring Manager is inundated with deadlines and reporting obligations. Suddenly, Mr. Hurry, a key player on her team, is lured away by the competition. Ms. Manager is at her wits end because in addition to her regular workload she has to work with HR to fill this opening. What a nightmare.

Just then, Mr. Job Seeker forwards his resume to Ms. Manager through a mutual friend. What a delight. Mr. Job Seeker has the very skill sets Ms. Manager needs -- all that without going through the hassles or expenses of a recruitment campaign.

Ms. Manager alerts HR about this promising candidate and asks the HR manager to ensure compliance with legalities and immediately screen Mr. Job Seeker. All goes well and Mr. Job Seeker is hired. The company saved thousands of dollars on a search campaign and Mr. Job Seeker succeeded in eliminating all the competition that he would otherwise have to face had he relied only on the help wanted section of the newspaper. Everyone benefits.

Sound familiar? The foregoing scenario was not a figment of my imagination. During many professional coaching careers, recruiters have across hundreds of stories that parallel the fictionalized illustration from the preceding paragraph. Many of their clients networked and found job leads (and work) in subways, at bars, during massage sessions -- you name it. You may think it is serendipity, but I call it the power of networking.

Statistically, each individual knows at least a few hundred contacts (friends or friends of friends) and by networking with one new person every day, you are tapping into a pool of hundreds of potential contacts every day -- possibilities! From recruiters to subway riders to hair dressers, almost everyone is a potential networking contact and by tapping into this pool of contacts, you could easily be a step closer to your next job.

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