What is hidden job market?

The hidden job market refers to opportunities that are not advertised or listed on job websites. They are filled through employee referral, internal hiring, or directly by the hiring manager. It is a significant source of fulfilling job opportunities. 

So the question arises, how does one access the hidden job market?

The answer is rather simple and one must follow some basic steps to be able to access the hidden roles. In this article, we list down a few steps that you can take to improve your chances of landing a role through the hidden job market. But first, let’s discuss.

What is the scope of the hidden job market?

According to a report by Forbes, up to 80% of job openings are never publicly advertised. These elusive opportunities are often filled through internal promotions, employee referrals, and proactive networking.

If you strategically network it will not only keep you employed but also full of roles and career paths that you want to take in your career. It opens the door to endless possibilities.

What is the importance of tapping into the hidden job market?

With so many opportunities not advertised its importance can not be undermined. In addition to the huge number of opportunities made available, there are other important factors also,

1. Smaller organizations may not advertise open positions on job portals. Hence building connections can help you access these opportunities directly.
2. Competitive edge over other traditional job search methods. It opens doors to multiple opportunities.
3. Networking lands you a job faster, generally within one to three months.
4. Staying up-to-date with industry trends and building a strong professional career.
5. By networking effectively you may not need to face obstacles that other job seekers face.
6. And a diverse and broader career growth since you will also be willing to give back and help others.

How do you unlock the hidden job market?

The answer is rather simple - Networking - the key to accessing the hidden job market. 

You can gain access to this hidden market and increase your chances of finding your dream job by actively networking. A study by LinkedIn suggests that 85% of all jobs are filled through networking. 

Establishing meaningful connections can unveil hidden job opportunities that may never see the light of day on traditional job boards. There are multiple ways in which you can network

1. Online networking - Joining online groups and communities operating in your industry, and actively participating in discussions. Attending online events such as webinars, meetups, roundtables, forums, etc. 
2. In-person events - Attending industry seminars, conferences, and symposiums related to your industry.
3. Social media - Reaching out to people on LinkedIn in your field.
4. Refermarket.com - The easiest way to connect with people in your target company. When actively applying for jobs in your dream company, seek referrals and network with people who can help with your application.   

Unlocking the hidden job market becomes a crucial skill for any job seeker. Remember the hidden job market is not a myth but a reality waiting to be explored. The statistics and data affirm it – the key to your dream career might be hidden, but it's certainly within reach.