Conquer the Hidden Job Market

Source: rocket50

By: rocket50 Staff

Date:   May 20, 2024

Finding the Hidden Opportunity

So, how do you find that new great role? You hear all the time about people 50 + never getting to a first interview or even worse, often getting no response at all to applications. This unpleasant experience leads you to: 1. Slow down your momentum. 2. Depression or 3. Lose the will to try.

According to CNBC, 70% of jobs are never published publicly. Yet 95% of all job seekers are applying for published open roles! If you also consider that a junior HR person is usually the one screening the first set of resumes after a machine has weeded out those that do not perfectly match their criteria - you can quickly see that your success rate in getting through this impossible process is going to be quite low.

Why roles are not published

You might wonder why some companies aren't posting available jobs. Budget concerns may be a factor. Companies often prioritize employee referrals, internal hires, or discreet replacements. Sometimes, HR hasn't drafted or posted a job description yet, or leaders haven't determined how to describe a need. These roles can go unnoticed by typical job seekers, but the opportunity is still there if you work hard enough to find it.

Networking is key

As a job seeker, using your network is one of your greatest resources to finding new opportunities. Being able to connect with the right people can make or break your search.

There are several options to get connected:

1. Make a list of the companies and or industries you are interested in working for.
2. Ask people in your network (close family and friends) if they know someone who works in the companies you are interested in or know someone who may know someone.
3. Check your LinkedIn or other professional networks for people who work in your target companies.
4. Cold contact the people you have been referred to. Don’t ask for a job! Instead, ask them for information about the company; what they do, what is going on and who they would recommend you speak to in your area of interest. People are usually willing to give 30 minutes to talk about their job or the company, but most often will not respond if you ask them for a job.
5. Stay in touch with past recuiters and contacts, follow up every few months for new opportunities.
6. Follow industry and company leaders on social media for insights on hiring and company growth
7. If people don’t respond, don’t give up! Make more lists, send more e-mails, and make telephone calls to develop more connections and leads.

At the end of the day, getting a new job is a numbers game! The more often you are out there taking and networking with people in companies the odds of finding those hidden roles will greatly increase.