This is a topic I love not only because I specialize in showing my clients how to succeed in landing a job using the unadvertised or hidden market, but a topic I can talk about all day!
So let's begin with a true or false:
True or false: The hidden job market is networking, right?
False. Because if your network of contacts knows about a job, then it's not hidden. The exception would be if your contact was a key decision maker in a company. More accurately, you find hidden jobs primarily through using strategies to connect directly with companies and cutting out the "middle man" (recruiters, HR, job boards and the like).
True or false: With all the jobs listed on the internet today, I don't need to concern myself with any "hidden" job market.
False. That is, if you care about getting more than a 1-to-3% response rate from the resumes you send out using major job boards.
In other words, did you send out 50 resumes using job boards and you still haven't heard anything back? Well, by these standards your only problem is you haven't begun to send out enough resumes, yet...yikes!
True or false: I should only answer jobs that are advertised because I will look stupid if I send my resume to a company when I have no idea if they need someone like me.
False. Way back when I had my own executive recruiting firm I remember client companies telling me, "We don't have any immediate needs right now, but if you find a superstar, please don't forget about us - we want to see their resume!"
Not only do companies always make time for people who are "superstars" (and a lot of this has to do with the way you market yourself to them), but most companies go through at least five steps to fill a position before they will post the position to a major job board.
Think about it. If you have a key position that just opened up in your company, is the first thing you do pick up the phone and call a major job board? No, of course not!
You get on the phone to a few trusted colleagues. You look to see if anyone already on board is qualified to be promoted to it or alert your staff to refer someone they might know. You launch an intimate grass roots campaign to try to fill this position waaaay before the general public is notified. And if after a few weeks, the position is still not filled, perhaps you contact a related association to post the job on their members only job board or you contract a recruiter.
True or false: I am not "high enough up" the ladder to seek out unadvertised opportunities. The hidden job market only applies to executives.
False. ANYONE (and I mean even if you are right out of college) can enjoy the benefits of the hidden job market. These jobs are available on all levels and in virtually all industries.
The trick is to hone your focus so you actually achieve the results you want (more on that later!).
So why should you care about the unadvertised market? Because for you, it means more job opportunities, more market leverage, less competition, shorter interview processes and bigger offers. Golly, I can't imagine why anyone would want to keep pumping out resumes via the internet when you can have all of this control over your next career move!
True or false: I have heard the interview process is shorter and the salary package can be significantly higher with unadvertised opportunities.
True! Why? Because when you pursue unadvertised jobs you are almost always talking with the company key decision makers right from the start. You have more creativity to sell your skills and build the value of who you can be to the company. And finally, because these interviews usually lack the formality of a full blown human resource driven candidate search, your competition is significantly lower AND the salary terms are less likely to be chiseled in stone. I have seen this play out in my clients' favor time after time!
Now I bet you are wondering precisely how to tap into the unadvertised market. There are three strategies to quickly get you started focusing on and finding great jobs that will never see a major job board.
Tip #1: You have to have a plan
If you are going to launch a proactive job search (i.e. knowing precisely what you are looking for, then reaching out to get it) vs. a reactive job search (i.e. passively scanning posted jobs, waiting to find the one that fits you) then it's crucial you know the following things:
- Your primary target markets - (e.g. biotechnology, pharmaceutical, medical device)
- Your primary positions - (e.g. sales executive, VP of sales and marketing, business development director)
- Your geographic parameters - (e.g. can't leave Minneapolis, all of US, California only)
- Your timeline - (e.g. need a job NOW, in the next 30 days, would like to make a change in the next 6 months)
Tip #2: You have to pick three main job search strategies for tapping into your market
Now that you have your plan, you should be crystal clear on what you want! Here are just a few unadvertised techniques you can utilize:
Growing/changing or moving companies: These are companies that are expanding, merging, acquiring other companies, are rolling out new products or services or are moving. These companies that are actively changing and/or growing offer you, the job seeker, an opportunity to offer your skills and strengths in order to help them.
Direct company contact: The secret here is in the numbers. Contacting a company directly (fully knowing they probably have multiple open positions that are not advertised) is a great way to take leadership and control over your job search. Are you interested in looking at the higher education market in your state or the top organic food manufacturers in the US? Or maybe the fastest growing healthcare oriented businesses in your city? All of these "lists" are accessible to you and allow you to easily tap right into your market of focus!
Tip #3: Manage your job search like a marketing campaign
Once you have your plan and have determined the best place to gather your resources and your general strategy, you must make a simple plan to move forward. Depending on your timeframe, pick the hours and the days each week that you plan to invest in your next career move. Block out those times and stick to them! Honor your commitment to your job search just like you would honor your commitment to your present employer to show up on time each day.
During your job search activity, keep things really simple and focus on the actions you are taking, not the results! This way you can celebrate your initial "successes," which in the beginning are the completion of each of your daily and weekly goals. The results will unfold elegantly and abundantly and you will enjoy feeling that satisfaction of success whether you are investing in marketing yourself or basking in the warm glow of landing your third or fourth interview!