What Is the Hidden Job Market? 8 Ways to Access It
One of the worst parts of job searching is finding positions that are actually worth applying to. While it’s not impossible to come across a great opportunity on an online job board, it’s more likely that you’ll spend hours combing through positions that aren’t quite the right fit, are too far below or above your skill level, don’t pay enough, or are otherwise just an unappealing option.
There’s a better way to job search: by finding positions no one is talking about. We’ll spill the secrets of the hidden job market and show you how to access it to take advantage of better opportunities and less competition.
What is the hidden job market?
Would you believe it if we told you that as many as 70% of job openings aren’t posted online? While it’s impossible to pinpoint an exact figure, some industry experts estimate that. The term “hidden job market” refers to these unlisted positions.
The hidden job market consists of openings that are never publicly advertised on platforms like job boards or social media. Instead, they’re filled in other ways, like via internal hires, referrals, professional networks, and word-of-mouth.
Keeping jobs “hidden” can be advantageous to employers who don’t want to dig out from under the mountain of applications that often accompanies mass-posted openings. What’s more, posting to job boards isn’t free; every listing costs money. Hiring via non-public channels, on the other hand, costs nothing other than the hiring manager’s time.
Benefits of tapping into the hidden job market
While employers can use the hidden job market to quickly access reliable candidates, job seekers can also benefit from it. Here are the top advantages of accessing hidden jobs.
Better opportunities
Public job boards are filled with entry-level, low-paying positions. This is no surprise because such positions experience high turnover and require a steady stream of fresh applicants to keep filled.
When a position is highly desirable, though, there’s no need to advertise it all over the place to get great people interested. You can make it known to a handful of select individuals and assess a much smaller pool of candidates.
Hidden jobs are often more lucrative and come with better perks than those you’ll find plastered online. Sometimes, the only way to hear about these positions is through non-public sources.
Less competition
Since hidden positions aren’t advertised, there’s far less competition for those applicants who are being considered. You have a much better chance of standing out than if you were up against hundreds of other people vying for the same spot.
You’ll be up against even less competition if you can get in front of a hiring manager before a position officially becomes available. With an impressive resume and some strategic networking, a company might create a position specifically for you in order to get you on their team.
Discretion
While it’s incredibly common to search for a new position while working dutifully at your existing one, many people who are job searching don’t want to make that information publicly known. When you apply for publicly listed jobs, there’s no telling who might see your resume, and it’s possible word could get back to your current employer that you’re looking to jump ship.
Utilizing the hidden job market can help you maintain discretion in your job search, holding onto your current job security until you land your next opportunity.
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8 ways to access the hidden job market
1. Network, network, network
The best and most effective way to access the hidden job market is to build strong professional relationships. Yes, the old adage is true: who you know matters more than what you know.
If you’re not a natural networker, there’s good news. You don’t need to meet and greet every person at every function you attend to build a solid network. Instead, focus on strategic individuals, job functions, and companies.
For example, if you’re an introvert, it can be greatly beneficial to build meaningful connections with one or two major extroverts–those people who seem to know everyone–since the large number of people they know makes it more likely they’ll hear about new opportunities and pass the word on to you. If you want to work for a specific employer, use a tool like LinkedIn to figure out who you already know that knows someone there. Asking for an introduction can be an effective first step to making inroads at that company.
2. Search proactively for “dream jobs”
You can dramatically reduce your competition for a job by learning about it before it opens. To do this, you’ll need to make contact with the right people and put your name on their radar.
First, create a list of companies that you’d like to work for. Then, figure out which department you’d be working in and who your likely manager might be (LinkedIn is great for this). For example, if you’re looking for a design job, you’d want to identify someone with a title like Art Director or Creative Director at your desired company.
Using email or LinkedIn, write a succinct message introducing yourself, summarizing your skills, and letting the person know you’re interested in opportunities with the company (we break down exactly how to write such a message, called a letter of interest, here).
Here’s an example:
Mr. Norton,
My name is Abbey Smith, and I’m a designer with six years of experience in the travel and tourism industry. I’ve long been an admirer and customer of the Hilton brand, and I want to work for the company.
I wanted to reach out to share my resume and express my interest in any upcoming job openings on your design team. My core competencies are UI/UX design, print design, and branding, but I am open to other opportunities you think might be a fit for my skills. I am available immediately for full-time employment as well as contract work.
Thank you kindly for your consideration. I hope you’ll keep me in mind as a candidate now and in the future.
Abbey Smith
Hiring managers are busy people. Writing a letter of interest like the one above offers them a valuable shortcut. Next time they know a position is about to open up, returning to your resume and getting in touch with you could save them the time and effort of conducting a full job search. By making this small effort, you’ve put yourself leaps and bounds ahead of any other candidates they might be considering.
3. Optimize your LinkedIn profile
Recruiters will go to great lengths to avoid the slew of unqualified applicants who come in from public job postings. They do this by scouring LinkedIn for prospective candidates and sharing opportunities with them. In order for your profile to appear in these searches, it needs to be optimized.
Use a recent, professional profile picture and background photo. Write a compelling headline that summarizes what you do. Use your summary to incorporate keywords related to your skills and desired job duties–the types of words recruiters would likely be searching for. Ensure that your ‘open to work’ setting is toggled ‘on’ so recruiters are able to contact you.
We have a full breakdown of how to optimize your LinkedIn profile to get hired here.
4. Market yourself
Earlier, we mentioned the possibility of a company creating a job just for you, which is basically a job seeker’s dream. One of the primary ways this happens is by marketing yourself–in other words, making yourself sound so enticing as an employee that a hiring manager will do whatever it takes to get you on their staffing chart.
A great way to do this is to reconnect with people with whom you’ve had a positive working relationship in the past. Maybe it’s a contact from an internship that you made a strong impression on or a manager from your first job who urged you to stay in touch. Let them know you’re in the market for a new job, give a few details of what you’re looking for, and tell them what you’ve been up to since you last worked together, highlighting any impressive accomplishments.
The idea is to get the word out there that you’re a desirable candidate who’s available for employment. When one of your contacts is looking to hire or knows someone who is, you’ll be a natural first choice.
5. Apply for internal openings
At many companies, it’s standard practice to seek out internal candidates for upcoming openings before making jobs available to external applicants. Stay in the loop about openings at your company and apply for relevant ones. Many organizations have a formal system for advertising internal openings, like an email newsletter. Ask your HR department to find out if your employer has such a system, or ask to be notified when openings become available.
6. Stay updated on current events
Tapping into the hidden job market requires you to be a bit savvy, using your deduction and reasoning skills to tell when a company is likely to be hiring. Staying up to date on current events in your industry and local area will help keep you updated.
For example, suppose you know the development of a new office building is underway in your city. In that case, that will mean a host of new companies opening shop in town and looking for employees, not to mention the dozens or hundreds of jobs associated with the construction project. You can reach out to these leads using the steps we outlined in tip number two.
7. Be active in professional circles
To get noticed for hidden job market roles, make your face a familiar one at professional events. Take part in local business organizations, attend seminars, and join community activism groups. You might even look into public speaking opportunities or elected offices in industry groups. Putting yourself out there helps you build a strong personal brand that will be attractive to employers when they’re thinking of people they’d like to add to their team.
8. Work with a recruiter
A recruiter is a specialist contracted by employers to find people to fill job openings. When you work with a recruiter, you’ll be first to know about opportunities with their clients that are a match for your skills and background. The best part is that the client pays recruiting fees, so it costs you nothing as a candidate. Working with a reputable recruiter can help you get word of job openings before they’re advertised (and some that will never be advertised), increasing your career prospects.
As a job seeker in today’s market, it’s in your best interest to do everything in your power to differentiate yourself from other candidates and gain a competitive advantage. Leveraging the hidden job market is one way to set yourself apart and gain opportunities you wouldn’t have access to by relying on job search sites alone.
