The Hidden Job Market

Ever heard that up to 70% of jobs in Australia are never advertised? This is the hidden job market.

While it’s becoming harder to use the label ‘hidden’ as the skills of job seekers expand to access social media and online strategies, this job market is far from open and transparent. It could be compared to a gated community where candidates are required to develop and strengthen their skills to help them get through the gate.

So, what’s the secret to cracking this ‘gated’ market? In a word, confidence.

Make your own luck

You attract luck by learning how and where to find opportunities to show your best self – don’t hope and wait for good things to happen for you. The ‘serendipity mindset’ promotes navigating the world with open eyes and seeing opportunities others don’t. More than just being in the right place at the right time, it’s a process in which you can be actively involved in the discoveries available through unplanned events.

Bill Burnett, co-author of ‘Designing Your Life’, is a proponent of this way of thinking. In a TED talk, he defined being lucky as paying attention to what you’re doing while also keeping your peripheral vision open – this is where interesting opportunities that you weren’t expecting can show up.

Network

The term networking is frequently used by career experts as a way of finding unadvertised job opportunities. Networking can be many things – updating and using your LinkedIn profile, talking to family members and friends about their work and upcoming opportunities, attending organised networking functions or conducting informational interviews.

Interviewing people already employed in an industry that interests you can be a useful way to gather information specific to jobs you are looking for. Generally, when you contact an employer to request an informational interview, it is important to communicate that you are searching for useful information rather applying for a job.

Expressing an interest in a role or company during a networking conversation gives you an opportunity to demonstrate the soft skills that can set you apart from the competition. Interpersonal skills, effective communication and creative thinking are examples of the skills you can demonstrate when speaking directly with potential employers.

Be prepared

While networking can open the gate to an unadvertised opportunity, you should still expect to go through the process to secure the position. An updated resume and relevant cover letter may still be required as part of this process. And you should also assume that you will need to attend an interview with someone other than the person you have a network connection with.

The truth is that the hidden job market isn’t so hidden. In reality, the hidden job market refers to confident networking and connection-building that should be a part of every job search.

If you want to develop your networking skills, get in contact with us to build your Career Game Plan.