Did you know that the traditional job market only covers about 30% of all available jobs at any given time? Some experts claim that this traditional labor market does not cover more than 10% of the available jobs. So where are the rest of the available jobs?
The unpublished job market, also known as the hidden job market, covers around 70% of all jobs available on the market. But there is more; 80% of the positions with salaries of six figures are covered within this unprecedented labor market. Because of its importance, it should be part of your overall job search efforts.
Let’s look at four strategies you can use to take advantage of the opportunities available in this hidden job market:
1. Have a list of companies of interest.
Why is it important to take the time to research companies? Because if you just apply for whatever job you find, you’re wasting your time and energy, even if you feel like you’re accomplishing something by sending out tons of resumes.
The time you spend up front researching the companies you’re interested in will benefit you in the long run, as you won’t spend time and energy applying to companies that don’t fit well with your career plans. Instead, he will apply for jobs at companies in his preferred field and where he would like to work.
2. The informational interview
The informational interview is one of the most effective tools when it comes to taking advantage of the unprecedented job market. In a kind of interview, you interview a person from the company or field of interest to gather information about the work environment, job opportunities, work ethic, and other useful information and to get feedback and advice on how you can improve your chances of success. get the job you want. you are looking for, in addition to expanding your network of contacts in your company or target category.
3. Your network as a source of information and referrals
When it comes to searching for your next job, the importance of professional networking should never be discounted. In fact, professional networking should become part of your daily work and career-related endeavors. Your professional network should be there when you need it, for daily business relationships, job searches, and moving up the career ladder. Since we never know when we might need it, it makes sense to have an active professional network, even if you think you don’t need it right away.
4. Contact employers directly
Sometimes you may want to contact a potential employer directly, in addition to or instead of applying for a position of interest on their website. Or perhaps you did not find a position of your interest among those published and you want to contact the company to make yourself known for when the right time comes.
When I am asked what is the best method to get ahead in the new job market, the best answer I can give is that the best method is a combination of all. You must do your homework to study and filter your potential employers and you will see what combination of strategies will suit your purpose for a potential employer.
When you compare it to the traditional job market, you might be thinking that the unposted job market is not as easy or convenient as responding to posted job ads, but when we look at the number of possibilities available, working in the unposted job market is something to include in your job search strategy when it comes to finding that job or career advancement opportunity you want.