There's a common consensus amongst employment experts that only a fraction of vacancies ever reach an external advertising medium with a whopping 75% of job vacancies being filled through alternative methods - "the hidden job market."
So does this mean, somewhere, somehow there are thousands more vacancies being listed? Well "yes" and "no." Of the 75% of vacancies that are never listed (hidden), many are filled internally. However, if we say there is still some 20% of this figure that can be reached by you the "employment seeker," then there's still a huge number or potential offerings that you won't find in any newspaper or recruitment agency. So how can you tap into this missing segment of the job market?
Expanding your network through social channels (on and offline) can and will make a difference. Your ability to target where to promote yourself and where to concentrate your efforts will come from your knowledge and understanding of the industries you are focusing on, and from simply talking with people within the trade. Whether you are just brushing shoulders with the right people, meeting through industry bodies or creating your own system of networking, you could find yourself talking to the right person at the right time for the right position. Networking takes dedication - not desperation. Don't forget to network through your social settings, as it's through this type of networking that we may build relationships, which will often help boost your chances of referrals.
Employers still seek comfort in a referral system based on existing employees recommending (referring) a friend or colleague. It's basically the largest recruitment method outside of external advertising and it's a recruitment agency’s worst nightmare. By simply asking friends or associates to "keep an eye out" on possible openings, you can create a whole new window of opportunity. So don't miss out on this highly effective system - but it is down to you to ask, not for others to approach you.
Cold calling is used by most recruitment agencies and is as simple as calling a known business that you would like to work for and asking to speak with the person in charge of recruitment. Be prepared, as in most instances you will receive a rejection, but don't take this personally, as many employers will be happy to provide some form of advice.
LinkedIn is an important strategy for anyone in the job market and is used regularly by recruiters, head-hunters and HR to find future talent…LinkedIn forms an essential part of the “Hidden Job Market.” It has also evolved to become one of the most important resources for people to build their reputations and to network with peers.
For more information about the "hidden job market", pick up a copy of our information guide which provides practical insider steps on this and many more key subjects.