Job Seeking: The Hidden Job Market

It is difficult to be a proactive job seeker when it feels like there aren't many jobs going around. You browse through popular job listing sites like Indeed, Total Jobs and Reed. And even though you see loads of vacancies on these sites, the one that you're looking for is quite scarce. To give you an example, let's say you're looking for an administration job in Haringey. You'll notice there are only four of these jobs posted in the last 30 days. As you can imagine, the competition for these four positions will be fierce. According to The Telegraph, each graduate job gets around 39 applications. If you think it is hard for you to find work, just spare a thought for how difficult it is for an employer. They have to sift through so many applications to find their ideal candidate. Sometimes, employers can get overwhelmed and may not even bother looking through your application and immediately reject it. Trust me, I know how heartbreaking it can be to spend hours perfecting an application only to be not acknowledged. But thankfully, there is a less competitive path to looking for work. And this is through the hidden job market. There are two ways to find work via the hidden job market. The first way is to send speculative applications. And the second way is through networking. But before we go into these two techniques, I want to take a moment to explain why the hidden job market exists.

The Hidden Job Market 

Going back to the example of finding four administrative roles in Haringey being posted in the last 30 days, this doesn't mean you are limited to those four positions. It is far from the truth. Many small and medium sized employers don't advertise their vacancies. And this is down to one very influential factor: cost. It is very expensive to advertise for roles with recruitment agencies, job sites and other media outlets. And many small and medium sized businesses do not want to incur this cost. So they would prefer it if a potential employees came to them, rather the other way round.

Speculative Applications 

Speculative applications are a truly tried-and-tested method. And thanks to social media and the digital age, completing this type of application is much easier than you might think. A speculative application is when you contact the employer directly and you send them your CV and covering letter. You're selling your skills and experience directly to employers in return for an opportunity. You can easily find companies that you'd like to work for on the internet. With Google business directory, you can compile a list companies within a particular industry sector. All you have to do is go to Google and type in the name of your industry of interest and region. When compiling your list, write down the name of the company, address and web address. Once you have compiled your list, explore the company's website to read more about them. This information will definitely come in handy when writing your cover letter. Also, whilst you're looking through the company's website, try to find the contact details of a recruiting manager or a specific department manager. If a company doesn't list the contact information for a specific manager or a recruiter who will be interested in what you are offering, then you're very likely to find them on LinkedIn.

Networking 

When it comes to job hunting, it is not what you know but who you know. To back this claim, a survey published in 2016 states that 85% of jobs are filled through networking. To explain what networking is: it is where you build relations with different people. If you're a social butterfly, then networking will be very easy for you. However, if you're an introvert (like me), then networking can be a very daunting process. But even if you are an introvert, you have to get yourself out there. This is the world that we live in and the people who do get noticed, will get a job. It is very easy to get started with networking. Simply list your family and friends and anyone else you know. This list represents your current network. If you already have a good relation with your current network, then all you have to do is ask them if they know any one that is looking for a person with a particular set of skills or experience. To expand your network, you can join various Meetups which take place in your local area. Sometimes people who come together to share a passion for a similar interest can open up new opportunities. And there you have it. Have you had much success in finding work in the hidden job market? If so, then we would love to hear about it in the comments section below. Featured image: Pixabay
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