Debunking the Myth of the Hidden Job Market. Just because you read it online doesn't mean it's true

Everyone has heard the claim that 80% of jobs are part of a hidden job market. This idea has circulated for decades, creating a sense of fear and uncertainty among job seekers. But is this notion based on reality?

The Origin of the Myth

The concept of the hidden job market can be traced back to Richard Bolles, author of the best-selling book What Color is Your Parachute? Yes, that yellow-tattered book you've seen at garage sales and Salvation Army stores everywhere. Bolles famously claimed that "Eighty percent of job openings are never advertised." suggesting that job seekers must rely heavily on personal contacts to uncover employment opportunities. The data was provided anecdotally by headhunters and others involved in the hiring process. This book was self-published on December 1, 1970.

Let's do the math. That's 53 years ago. Perhaps a bit has changed since then?

The Evolution of the Job Market

The Society for Human Resource Management (SHRM) provides guidelines and best practices for job posting policies, but there are no universal legal requirements mandating that all job openings be posted publicly.

Many jobs are advertised thanks to company processes and policies, integrated technology, cost-effective job boards, and the need to find unique, niche candidates. Some estimates suggest that at least 60% to 80% of jobs are now advertised; the posting rate for front-line customer service jobs varies significantly from that for VP-level roles.

The Viability of the Hidden Job Market Today

While the specific statistic may be a myth, the concept of a hidden job market is still relevant. The term "hidden job market" now refers more to the strategy of engaging with employers early in the hiring process, often before a job is officially posted.

Strategies for Accessing the Hidden Job Market

• Networking: Building genuine connections within your industry can lead to job opportunities that are not publicly posted. This involves more than exchanging business cards; it's about cultivating meaningful relationships.
• Leveraging Social Media: Engaging in relevant social media groups and maintaining an active presence on platforms like LinkedIn can help you learn about job openings early.
• Direct Engagement: Reaching out to companies directly, even if they haven't advertised openings, can uncover potential opportunities.
• Attending Events: Participating in industry events and job fairs can provide insights into company cultures and hiring processes and help you make connections that lead to unadvertised roles.

Personal Insights and the Emotional Impact

The hidden job market concept often fosters fear and uncertainty among job seekers, exacerbating the fear of missing out. This emotional reaction is unnecessary and unwarranted. Instead, focus on building professional relationships and being proactive in your job search.

Conclusion

In summary, while the idea of a "hidden job market" isn't entirely false, the claim that 80% of jobs are hidden is outdated and unsupported by current data. The focus should be on strategic networking and engaging with employers early in the process.

If you find yourself overwhelmed by the job search, take a step back and remember that you're not alone. Use these strategies to empower yourself and discover opportunities that align with your goals.

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Warmly

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