How to Navigate the Hidden Job Market

Hi and welcome to issue #19 of THEHRCareerCoach newsletter. Thank you, I appreciate each of the 2,253 subscribers. 💜

If you are reading this in your email, please pop over to LinkedIn if you want to react or comment.

Click "Subscribe" if you'd like to read more about my experiences working within HR and gain insights on taking back control of your career to find work you love.

In this month’s newsletter, I'll demystify the 'hidden job market' and explain why some roles go unadvertised.  I’ll also share some tips to help you tap into this, often thought elusive, market.

Job searching can be tough to navigate, especially in today’s competitive market. While traditional job searching on LinkedIn, job boards and via recruitment agencies has its place, many of the best opportunities lie within the 'hidden job market' - roles filled quietly through networking, referrals and behind-the-scenes recruitment.

What Is The Hidden Job Market?

The hidden job market refers to vacancies filled discreetly and by word of mouth, rather than openly advertised. This includes roles secured through:

• Networking and industry connections
• Referrals from trusted contacts
• Direct outreach to companies
• Recruiters and talent networks
• Internal transfers and promotions

It’s estimated over 70% of jobs fall into the hidden job market. This covers all levels of vacancies and in effect means almost 4 out of 5 job opportunities are never publicly advertised.

Why Are Certain Jobs Not Advertised?

Employers opt to fill positions covertly for a whole host of reasons, including:

Maintaining confidentiality: Openly advertising certain roles, particularly high-level positions, could have adverse effects on stock prices, company image, or attract unwanted competition. Other times there might be redundancies on the horizon or a difficult performance matter to be handled. In all of these circumstance companies often rely on trusted connections, head hunters and referrals.

Efficiencies: Leveraging existing pipelines and networks streamlines the hiring process, offering a faster and cost-effective alternative to open recruitment.

Testing the market: Temporary arrangements, such as contract positions, allow employers to assess requirements and candidates before making permanent commitments.

Use of Referral schemes: Some companies incentivise employee referrals for hard-to-fill roles, encouraging discreet outreach within established networks.

The hidden job market enables companies to protect their business, save time and money, secure top talent and vet potential employees. For job seekers, this unadvertised pool offers a wide range of untapped opportunities.

A word on the final point about regulatory requirements.  I have been in that position where it felt like I was going through the motions in a lengthy assessment process.  Yes, it sucks when you have invested your time and effort, only for the role to go to the preselected candidate.  What can I say it happens, but thankfully not too often and not in all sectors.

How To Access The Hidden Job Market

Landing a hidden job requires a bit of foresight and a strategic approach beyond the traditional recruitment routes.

Here are 6 tips to get started:

🟣Cultivate and activate your network: Reconnect with past colleagues and managers - don’t just ask for job leads, aim to rebuild rapport first. Attend conferences and events to organically expand your network and showcase your skills and achievements.

🟣Connect with recruiters: Forge partnerships with reputable recruiters and talent networks to ensure you are top of mind to gain access to unlisted opportunities tailored to your skills and experience

🟣Showcase your expertise: Ensure your LinkedIn profile is up to date and targeted at the type of role and industry you are seeking. Always be promoting your Personal Brand, even before you are thinking about entering the job market. Head hunters, recruiters and companies are searching for their ideal candidates on LinkedIn, so make sure they can find you.

🟣Build your skills and experience: If you’re looking to change careers or industry consider job shadowing or doing some voluntary work aligned to your career goals; this helps expand your knowledge and gives you relevant examples for interview.

🟣Directly reach out: Thoroughly research target companies to identify problems they’re facing and ask to have a call or meeting to explore further. Make this genuine information gathering, rather than a ‘do you have a job?’ conversation.  That said, have your elevator pitch at the ready if the conversation leads to potential opportunities, so you can highlight specifically how your background addresses their challenges.

🟣Keep yourself updated: search the internet and social media for updates on the industry or company you are interested in and don’t forget to go directly to business websites. 

Tapping into the hidden job market is all in the relationship building and strategically nurturing a diverse professional network to be top of mind for opportunities.

How Do You Stay Top Of Mind?

You want to make sure during your strategic networking you are the potential candidate who stands out. You want to be remembered for the value you offer when one of those hidden jobs arises.

You can do this by sharing your succinct compelling value proposition that sets out:

1. The key problem you solve

2. Who you solve it for

3. How you solve the problem

Showing up authentically and consistently with your concise compelling messaging around what makes you different, will help you rise above the competition, ready to welcome those unadvertised opportunities.

I hope these tips and insights will help you feel more confident navigating the hidden market when job searching. If you found this newsletter interesting or have a colleague who needs to hear this at the moment, please feel free to share.

If you need support with your job searching or any aspect of accelerating your HR career, I am here to help you. Let's have a chat. Book a no-obligation 30-minute call using the link below.

Thank you for being a valued subscriber, and I look forward to sharing more career insights with you in the future.