How to Land Your Dream Job: Accessing the Hidden Job Market

Quality over quantity.?

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The job search has become a full-time job, minus the pay and the fun co-workers. Many job-seekers are feeling the effects of the job search, spending lots of of time and effort to find that new position. In 2023, the Bureau of Labor Statistics estimated that it takes over 20 weeks to find a new position. On average, 118 job-seekers apply for job postings seeking only one position for one lucky person. And according to Forbes, it takes around 21-80 job applications to have a 30% chance of receiving a job offer.?

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It’s time to start taking advantage of the Hidden Job Market.?

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The Hidden Job Market describes all of the open positions that are not available to the public. These positions are filled internally, through personal connections, or through referrals. It’s estimated that 70-80% of jobs are filled by the Hidden Job Market. That leaves very few positions that are published on public forums, which is why it’s so difficult to even land an interview!

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The Hidden Job Market cuts down on cost, time, and risk. The cost of posting jobs on online boards, advertising these jobs, and vetting hundreds of candidates who apply, is one of the main reasons companies turn to the Hidden Job Market. It takes a lot of effort and time, and when so many people apply, it’s a difficult task to sift through countless applications, many of which do not have the required qualifications. When the employer knows a candidate, there is less risk on their end because they have typically already formed a first impression, and the process can be accelerated.

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Now, that doesn’t mean applying online through job boards is a bad idea. It just means that rather than sending out mass applications, you need to tailor your resume and cover letter for each position and company. You need to take the time to research the company and make sure that your values align with theirs. All in all, a combination of efforts is needed. When tailoring your applications, also expand your network by attending events, meeting other professionals, and participating in your community. The toll on your mental health will feel a little lighter. It’s important to protect your mental health during such a long and strenuous process, which is why accessing the Hidden Job Market is so important.

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All this is easier said than done, right? Here are some strategies to help narrow your approach and take some of the pressure off of your job search.

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1. Network

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It’s a traditional suggestion, but the proof rests in the results. Networking remains the best way to land that dream job, but it isn’t just about going to events and handing out business cards. You can connect with others in your industry on LinkedIn, join Facebook groups for professionals in your area, attend events and conferences, and seek opportunities to meet new people through your current role. And even when you apply for roles online, you can mention those connections that you formed with the company or hiring manager at events!

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When we network, we create first impressions that would usually form in the first interview. Meaning, you’re a step ahead of other candidates. You don’t need to be actively looking for a new job in order to attend these events and join these groups. In fact, it’s a great thing to network when you aren’t looking for a job, because people will think of you when a position opens. You may not even consider leaving your current position until another opportunity arises!

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2. Look at internal openings

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If you love your company and co-workers, it may benefit you to look internally for a new position. When a position opens, the people who are already working at that company are usually the first ones to hear about it. And chances are, you know someone who is involved in the hiring process. By applying for internal positions, your reputation precedes you, and you can easily leverage past successes and references in your application and interviews. Entering a new building is always daunting, so internal applications may also help with your nerves! Employers feel more at ease hiring/promoting people they already know. From their perspective, they have validation on your qualifications, they don’t need to take those preliminary steps to garner first impressions, and they are confident that you already fit into the company culture and can assimilate to this new role. It’s a win, win.?

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3. Reach out directly?

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Applying for new jobs through your laptop screen does not limit you to job boards. If you want to leave your current company, and networking hasn’t garnered many opportunities, do your research. Figure out what kind of role you would like, research the companies that sound like the best fit. And the key step: email them directly. A personal note goes a long way. This is also a good way to get your foot in the door even if there are no current openings. By personally emailing employers, you are not tied to the job postings you see on their website. You may be added to the roster for that hidden position, one that’s in progress internally or where a search is open through agencies. And on that note…

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Contact recruiters. You can connect with them online or directly as well. Recruiting agencies have access to the Hidden Job Market and can market you to your new position. With a recruiter, you are more likely to get a new position that you may not have found online, and it just might be a better fit overall!

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4. Focus on building experience

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Not all of your efforts need to be on finding the perfect job right now. You can also access the Hidden Job Market by volunteering, internships, or any other method of getting involved. These are all ways to make connections, even when you are not unemployed yet. You get your foot in the door, and you can show the company that you dream of working with that you’re interested and dedicated. There’s obviously a limit to these activities, especially when they are unpaid, but it’s another way to build your resume and your social capital.?And again, activities like these are great things to mention in those online applications, to boost you ahead of your competition.

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5. Personal connections

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How many people do you know that were referred to a job by a friend or family member? These connections, that are formed without the traditional networking circle, are just as effective, especially if you are entering a totally new industry or even a new city. Tell the people close to you your goals and aspirations, and don’t be afraid to give a little insight into your job search at parties and casual gatherings. You just never know who knows someone who knows someone who’s hiring. Like internal hiring, the employer has some sort of insight to you as a person, whether through a referral from a trusted source, or through their own social interaction with you. Employers are more likely to trust you through a referral, and you can build on the positive impression that was surely used to introduce you.

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Now that you know about the Hidden Job Market, it isn’t that intimidating, right? With the modern ease of applying to hundreds of jobs at once, employers are finding ways to screen their candidates and make things easier and quicker on their end. For job-seekers, that means you need to tailor your efforts rather than apply to as many postings as possible. Accessing the Hidden Job Market means finding the roles that are not being advertised to the public and are instead fulfilled through personal connections and promotions. Network, look for internal openings, reach out to employers directly, get your foot in the door with non-traditional methods, and leverage your personal connections. These efforts will accelerate your job search and you’ll have a better chance of landing yourself in the perfect role.

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