Tapping the Hidden Job Market

I always tell people the stat that only 20% of jobs are advertised and that leaves a hidden job market of 80%. Some people ask me how can that be true. Kevin Crews www.kevincrews.com explained this to a group of job seekers last Friday at Harper College.


Kevin said that if you look at the job requisition process it becomes very clear. In most companies the process follows a pattern similar to this:

1. A manager recognises a need in their department or area
2. The request to hire is written up and submitted to HR &/or Finance
3. The request is reviewed and passed on for executive approval
4. A job description is written and approved
5. The hiring manager reviews the needed skills and expected responsibilities with a recruiter
6. A job posting is created and presented as an internal opportunity and employee referrals
7. The job opening is then posted on-line and or in the paper or with an external recruiter.
8. Resumes are received by HR and screened
9. Phone screening and interviews

The Career Strategist

Steps one through six are where a large percentage of the “hidden” job market resides. These steps can take as little as a few days and as long as a few months before the formal interviewing process can happen. In some companies some of these steps are skipped and others where there are even more steps. It’s important to realize that during this process you have an opportunity to learn about the opportunity by networking with people who work there.

But why would people care to tell you about the position? That’s easy: companies pay referral bonuses to their employees, $500 to $5000 are typical, depending on the position and the company. So when you ask a contact if they’ll refer you; you’re asking, “Would you like to make $1500.00 extra by introducing me to the hiring manager?”

Now isn’t it a good thing that we stress the importance networking. Check out other entries in my Blog that cover how to of networking. Hint: use the search utility and search on the keyword networking.  Good Hunting and call me if I can help you with your job search or career progression.