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How To Tap Into The Hidden Job Market By Pivoting Your Search From Traditional To Social

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Over the last 25 years, with the rise of job boards such as careerbuilder.com (started in 1995), monster.com (1999), and indeed.com (2004) as well as other industry specific sites, the traditional hiring process became automated and far too easy for candidates to apply. Soon enough, businesses and companies found themselves flooded with applicants, not to mention overwhelmed with the costs of posting job positions and managing applications through software called Applicant Tracking Systems. 

However, with the boom of social media in the past ten years, and with employers becoming more keen toward talent management, traditional job postings could now become a thing of the past. In fact, some reports now suggest that 70%-80% of jobs aren’t even traditionally listed on job boards.

Of course, you would be remiss not to consider what the job search looks like immediately following a global pandemic that resulted in at least 40 million lay-offs last year in the U.S. alone. This is all to say that, if we learned anything last year, it’s how rapidly and dramatically the world can change… but there are ways to be attentive to shifting trends and to adjust your strategies accordingly.

Why Employers are Using The Hidden Job Market

Employers are moving away from the costly process of advertising available positions and managing applicants by utilizing the “hidden job market,” a term that refers to opportunities not posted online. According to the 2019 Job Seeker Nation Survey, despite the fact that the majority of the public are still searching for jobs through traditional outlets, 50% of applicants heard about positions through friends, 37% learned about opportunities through professional networking, and 35% of applicants responded to positions posted on social media. 

One very simple reason for employers keeping positions “hush hush” could be that those positions come with new mergers or branch openings, news that those businesses aren’t ready to share with the public. But the biggest reason for the hidden job market is risk management.

Consider how costly the hiring process is for companies, especially after the pandemic. Even after the cost of looking for talent, there’s a lot of time and money spent interviewing and then on-boarding candidates. The obvious solution is for leaders to hire internally. In fact, many companies will post positions they already know they intend to fill internally in order to comply with company policy. 

When hiring internally isn’t possible, the next step is to hire externally through employee referral. People on management teams are likely connected to other business professionals, and those recommendations are always taken into serious consideration before turning to the general public. Not only are employee referrals more trusted, but those recommendations come with a near-solid guarantee that retention rates will be higher with those candidates.

Making Your Job Search Social

The hidden job market might seem like a futile enterprise in an already competitive field, but someone’s going to get those jobs, and you can still be one of them. In 2021, more than ever, it’s time to vigorously re-evaluate your approach. Yes, you should still pay great attention to optimizing your resume, but you should also apply that same energy, if not more, toward optimizing your LinkedIn profile and hitting the ground running in terms of networking.

If you think networking entails just making more connections on LinkedIn, think again. Likewise, networking via professional websites like LinkedIn should not just occur when you’re ready for a career change. Treat professional networking as habitually as you would, say, keeping in touch with close friends. In some ways, it’s almost the same: any kind of relationship requires ongoing maintenance. 

Here are some ways to network strategically:

  • Say Yes: And that doesn’t mean taking on unpaid or voluntary projects for the sake of impressing someone (although, if you have the bandwidth, it doesn’t hurt to be kind and be a friend to other organizations). First, keep an eye out on social media for conferences, career fairs, webinars, and other traditional networking events. Secondly, accept invitations to events that aren’t necessarily typical network functions. Do more to socialize at your friends’ virtual happy hours, sporting events, barbecues, and workshops. Introduce yourself to anyone who may be in similar career fields and do the work to stay in touch. Introduce yourself to any working professional, regardless of the field. You never know when you’ll find just the right overlap for innovative opportunities or who might be able to make a valuable introduction. 
  • Think of Your Current Network: When you really stop to think about it, you’d be surprised at just how many people in which you truly are connected. Most professionals think about reaching out to former colleagues, but consider making connections and staying in touch with former university classmates, especially if you attended a graduate program related to your field. Be as bold as you want to be, letting those connections know that you’re on the market and inquiring if they have any leads. These are the people who may be providing their employers with referrals. Besides work and school, think about the people you interact with daily. Who are your neighbors, volunteer buddies, fellow parents at the kids’ school? Think about the groups you’re in on Facebook or LinkedIn and the connections you’ve made over hobbies or on vacation. All of these individuals you have some level of rapport with and you’d be surprised how many would be willing to help connect you to the right hiring manager.
  • Make Direct Contact with Potential Employers: If you do happen to come across a job listing, make the extra effort to investigate the company and find the names, LinkedIn profile and contact information of those who will be behind the hiring process. Even if you don’t see a traditional job listing, reach out and ask to connect. Your best targets will be your new potential boss, someone in the talent acquisition team, or someone in a similar role to you. You should be investigating your target employers anyway, are they a good fit for you, and vice versa? What is their reputation like? In other words, instead of waiting for hiring managers to vet you, turn the tables and vet your ideal company, and make valuable connections along the way who can become your advocate.

Finally, one of the most important ways to network strategically and proactively is to work on becoming an industry leader. Being active isn’t just about maintaining relationships, but by proving yourself to be a valuable member of your field. Schedule time every day to conduct your own research and share credible articles and sources among your networks or via your own social profiles, specifically LinkedIn. You may even be interested in coming up with your own relevant and shareable articles or content. Use social media to your advantage by developing your professional brand and being truly seen, regularly and consistently, so that when a professional opportunity inevitably presents itself, you’re the type of candidate your connections have in mind.

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