What you need to know about the hidden job market

Jobs are like buses, right? You are wait ages for one, three turn up at the same time! But if you are looking in the wrong places, it can feel like they are all passing you by. OK, a loose analogy, but do you recognise the frustrating search? There is an assumption that if there is a job vacancy, then there is an advert. That is really not the case. This is why you need to know about the hidden job market.

Whilst the stats vary across sectors,  it’s believed that between 20 – 25% of jobs are advertised publicly. So, whilst you are scrolling through jobs boards, you are only seeing the tip of the iceberg when it comes to opportunities. It’s true you can’t accurately count up the jobs that AREN’T advertised, but you can research where people found the roles. And the general feedback shows that the apply-interview-offer route is not the most common one!

In my professional experience as a consultant, it’s very clear that jobs are created in a variety of ways; only a few make it to an online advert! My career as a recruiter was built upon SPECULATIVE approaches, that started with understanding the skills of the person I was representing. I would then reach out to organisations to see if they had any need for a person LIKE my candidate. Sometimes I would get an easy hit “ Oh, YES Clara we are actually recruiting for …”. Sometimes you would get a “We aren’t looking for that type of candidate, but we are looking for this …” However, what would happen regularly is “Oh, Clara, we really like their experience and background; invite them in for an interview and let’s see how we can make this work.”

When the phrase “the hidden job market” is used, it’s often misunderstood. It’s not a cloak and dagger approach, with secret societies and underhand decisions. It’s more to do with the variety of ways that people find work!  Maybe if it was re-worded to become the “Adaptable Job Market” there would be less cynicism and you may feel more hopeful about your options!

What I see is a marketplace where, when the employer AND the candidate can be adaptable in their approach, their needs and their wishes, more options and opportunities can be made available.

What you need to know about the hidden (aka adaptable ) job market.

Are you adaptable?
Like all of my advice about job hunting, it starts with you really understanding what you do, how you do it and where this can be applied.  If you are then able to show that employer how that would add value to their business – to deliver a service, make money or save money – you give them the opportunity to adapt; be it the job specification or opening up their minds to opportunities within their organisation

Adapt your “must-have” approach
So many people get very stuck around the operational elements of potential roles. Job titles, locations, pay. However, this can make roles harder to find, as you are opting out of applying for jobs that may be adaptable after a conversation. Learn more about these types of mistakes; do you recognise any?

Adapt where you look
This is the most obvious one when it comes to the hidden job market. Simply change where you look! Make sure you talk to your network, let your friends and family know you are looking (many companies have a referral scheme) and send a well-crafted speculative CV to organisations you wish to work with (many keep these on file ready to contact when they have a need).
Often the role you are looking for is actually within the organisation that currently employs you; by being honest about your career ambitions, drives and motivations, a career path may be open to you through more informal routes!
Finally, keep your eye on social media as many organisations recruit directly – so they never appear on job boards or recruiters’ pages. You could set up an alert for hashtags such as #jobadvert on Twitter or LinkedIn and see what is advertised that way! Whilst they are not hidden in the true sense, they aren’t always as easy to find!

So, next time you tell yourself that there just aren’t any job out there for you, what if you took the first step into the hidden job market, and be more adaptable in your approach?

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Clara Wilcox is a straight-talking, practical and experienced coach helping clients navigate the tricky waters of returning to work, career changes and professional development. The Balance Collective has a social mission, focused on improving the lives of parents, by working together to build inner confidence and promote a healthy work/life balance. Isn’t it time to create a career to enjoy?