Why Jobseekers Need to Embrace the 'Hidden' Job Market

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Why Jobseekers Need to Embrace the 'Hidden' Job Market

As a jobseeker, if you are relying solely on online job postings to secure a role, you might be missing out on a wealth of opportunities that exist within the ‘hidden’ job market. This term is used to describe jobs that are never formally advertised.

Career specialists have long approximated that the hidden job market makes up for around 70-80% of all available job positions. While the accuracy of this estimate may be debatable, what is certain is that a large number of job opportunities each year are never advertised and disregarding them can limit a person’s likelihood of landing a job.

While there are many reasons why jobseekers need to embrace the hidden job market, below we explain some of the main benefits:

  1. Access to more job opportunities: Many positions are filled through referrals, networking, and other channels that fall under the hidden job market umbrella. By tapping into this pool of opportunities, you’ll increase your chances of finding a job that’s a great fit for your skills and interests.
  2. Less competition: As many hidden job market positions aren’t advertised publicly, they often receive fewer applicants than those that are posted online. By focusing on these opportunities, you’ll face less competition and have a better chance of standing out among other candidates.
  3. Networking opportunities: Building relationships with people who work in your industry, or industry of interest, can be invaluable when it comes to finding job opportunities. By networking and staying connected with your professional contacts, you’ll have access to job openings that might not be posted elsewhere.
  4. Higher quality jobs: Hidden job market positions often come from personal referrals or recommendations from trusted sources. This means that the jobs you find through the hidden job market may be of higher quality than those found through traditional job postings, and they may come with a higher salary or better benefits.

In summary, it is imperative to acknowledge and tap into the hidden job market if you are currently looking for work, as it presents a large pool of opportunities that could potentially lead to securing your ideal job.

Therefore, it is highly recommended to commence networking, cultivating relationships, and delving into the concealed job market of your target industry as part of your job search, rather than waiting for roles to be advertised.