Discovering the Hidden Opportunities of the Unpublished Job Market

Discovering the Hidden Opportunities of the Unpublished Job Market

In order to better understand the unpublished job market, let's take a minute to review first the more traditional published job market in order to better understand the difference between both.

The published job marketplace is where we usually go for available published opportunities, you know, the newspapers ads, Job Banks, Staffing or recruiting agencies postings and Job Fairs.

But did you know that the published jobs only represent about 30% of all available jobs at any given time? Some experts in the field even claims that this job marketplace represents only about 10% of all available jobs.

So the logical question is, where are the rest of the available jobs?

The Unpublished Job Market

The unpublished job market, also known as the hidden jobs market, is where job openings are filled without being advertised, or at least, not in the way we are used to as will see in a moment.

The unpublished job marketplace represents about 70% of available jobs at any given time. But there's more; 85% of the six-figure salary positions are filled via this unpublished jobs market. That means that the executive job listing we see in high end publications such as The Wall Street Journal, Barron's or The Financial Times, to name a few, only represents around 15% of the six-figure salary positions available.

Then the question is why this hidden market exists in the first place?

Why there is not just one place we can go and find all available jobs in the market?

To help ourselves answer these questions, let's take a quick look at the mechanics of both employment markets.

How the Published Job Market Works

In the case of the more traditional job marketplace, we perform our search on the available job listings to determine what positions we want to pursuit. Then we send our resume to either, the employer, placement agency or headhunter, depending on who post the listing.

Once your resume is received, the recruitment team does the initial screening of the received resumes. The surviving resumes are then sent to the hiring manager to review and the actual interview process begins.

First, HR or the hiring agency do a first round of interviews to see if the candidate fits into the corporate culture and to validate the resume information. Then the hiring manager interviews the screened candidates to select the most suitable one. Once the interviews are performed and the best candidate selected, the job offer process begins.

If the hiring company is performing the process, the HR team will present the offer the HR team will present the offer. In the case of a head hunter, it will serve kind of an intermediary between the hiring company and the candidate, making sure the candidate receives a good offers as its commission if usually a percentage of the final salary.

How the Unpublished Job Market Works

In the case of the hidden jobs marketplace, the process is kind of more streamlined and or even more discrete.

The job fulfillment process on this market is more company driven, sometimes using external resources, but in rather a different way than in the traditional job market. On this market, job referrals are more common as companies looking for good candidates ask business partners, suppliers, contacts in other companies or even their own employees for referrals.

Some companies even have employee referral programs; after all, who better than the employee to know if the referred candidate fits the corporate culture as he or she lives it every day. In one Fortune 500 company I used to work for, the employee referral program actually paid a cash incentive for every referred candidate that got employed and completed their first three months on the job.

When you compare how both markets works, you might be thinking that the unpublished job market is not as easy or convenient as responding to published jobs ads. But when you look at the number of possibilities available, definitively the hidden job market is something that you should consider as part of your overall job hunting strategy.

Ramon Torres is the founder of https://ramonto.com and the author of the video course "Getting Ahead in the Unpublished Job Market" in Udemy; https://www.udemy.com/job-search-insights-how-to-uncover-the-hidden-job-market/

Article Source: http://EzineArticles.com/9296973

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Four Strategies Help You Find Your Dream Job in the Unpublished Job Market

Four Strategies Help You Find Your Dream Job in the Unpublished Job Market

Did you know that the traditional job market only covers around 30% of all jobs available at any given time? Some experts claim that this traditional job market covers no more that 10% of the jobs available. So where are the rest of the available jobs?

The unpublished job market, also known as the hidden job market, covers around 70% of all available jobs available in the marketplace. But there's more; 80% of the six-figure salary positions are filled within this unpublished job market. Due to its importance, it should be part of your overall job search efforts.

Let's look at four strategies that you can use to leverage on the opportunities available on this hidden job market:

1. Have a list of companies of interest.

Why it's important to take the time to research companies? Because if you just apply for any job opening you find, you're wasting time and energy, even though you might feel like you're accomplishing something by sending out tons of resumes out there.

The time you spend upfront researching about companies you are interested in will benefit you in the long run, because you won't be spending time and energy applying to companies that aren't a good fit for your career plans. Instead, you will be applying for job positions at companies in your field of preference and where you would like to work for.

2. The Informational Interview

The informational interview is one of the most effective tools when it comes to leveraging the unpublished job marketplace. In kind of interview you interview a person from the company or field of interest to gather information about the work environment, job opportunities, work ethics and other useful information and to get feedback and advice on how you can improve your chances of landing the job you are looking for, beside the fact that you will expand you network of contacts in your target company or field.

3. Your network as source of information and referrals

When it comes to looking for your next job, the importance of career networking should never be discounted. In fact, career networking should become a part of your daily work and career-related endeavors. Your career network should be in place for when you need it, for relationship for day to day business, job searching and for moving along the career ladder. As we never know when we might need it, it makes sense to have an active career network, even if you think you don't need it right away.

4. Contacting employers directly

Sometimes you may want to contact a potential employer directly, in addition to or instead of applying for a position of interest on their website. Or maybe you didn't find a position of interest among the ones posted and you want to contact the company to let yourself known for when the right time comes.

When asked about what is the best method of getting ahead in the unpublished job marketplace, the best answer I can give is that the best method is a combination of all. You should do your homework to study and filter out your potential employers and you will see which combination of strategies will suit your purpose for a potential employer.

When you compare to the traditional job market, you might be thinking that the unpublished job market is not as easy or convenient as responding to published jobs ads, but when we look at the number of possibilities available, working the unpublished job market is something that you should include in your over job search strategy when it comes to find that job or career advancement opportunity you want.

Ramon Torres is the founder of http://ramonto.com and the author of the video course "Getting Ahead in the Unpublished Job Market" on Udemy. 

Article Source: http://EzineArticles.com/9286582

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