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The Hidden Job market – How the job market really works



When you’re looking for a job how do you go about it? Do you go to your favourite job search board, and if you see something you like hit the apply button? When the job market was easy that approach may have worked but not now.

The Hidden Job Market

When the job market was buoyant job applicants were in short supply. But things have changed. Today recruiters are getting as many as 1000 application for job advertised? This number can be 3000 or more for popular positions. How do you think recruiters are able to sort through so many applications? Many companies use Application Tracking software or ATS to screen their applicants.

However, my experience has been that this software is far from perfect. Also, from my experience, some of the best candidates for the job do not always have the best resumes. So what is the best way to apply for jobs? Better still how do you get on the shortlist? You see, this is the thing. If you are one of 1000 people or more applying for a job, the reality is that it’s a bit like a lottery. The odds stacked against you. But how would you like to turn the odds in your favour? I’ll show you how.

LinkedIn Survey

A survey conducted by LinkedIn found that an amazing 85% of all vacant positions were filled via networks. Another survey found that the number of people finding jobs via job boards has dropped by 23% over the last 10 years.

The fact is that the majority of jobs are filled via the Hidden Job market. But that makes sense. Imagine this.  You are a hiring manager and you need to find someone for an important role in your team. They need to fit in with the team and they need to have the right sort of experience and skills you require.

How Hiring Managers Hire

What are you going to do? Sure you can go to HR and sit down with the recruitment adviser and spend hours explaining the role, filling in forms and position descriptions. However most hiring managers will look to their immediate network first to see who has worked with them before or who are recommended by someone they trust. This saves time, money and effort. Of course if they cannot find a suitable candidate via their network they will expand to the next level and so on.

This is one of the reasons why having a good professional network is so important. Everyone has a network of people they have worked with before or friends and acquaintances. But depending on the size of your network for many people it doesn’t take too long to exhaust that network. Building a network will take time however but just remember, over time your network will be the people who will find your next job. You can count on it. If you are a little shy or awkward I can show you some simple ways to overcome your anxiety and reach out to grow your network.

If you have any questions, please don’t hesitate in getting in touch with us. Our web site has a range of resources that you may find useful. If you would like access to these, please register and download them for free from our website. Also, don’t forget to hit subscribe to our YouTube channel.

Peter Mazzucato

www.pillentum.com.au

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