Showing posts with label hidden job market. Show all posts
Showing posts with label hidden job market. Show all posts

Tuesday, April 19, 2011

The Other List: Personal Contacts

I was reading the other day and saw that online resume posting yields an 8% chance of success in uncovering the next opportunity. This was a bit of a shock to me, even though I’ve been telling clients forever that only about 20% of jobs are advertised. Therefore, if a job seeker’s efforts are solely focused on answering online ad, then in all probability they will receive a low return from their efforts.

What’s the alternative? Start looking elsewhere... in the 80% of the job market where jobs are not advertised. Finding those non publicized opportunities greatly improves the job seeker’s chances of landing the next job. But how do you find these opportunities?

First, assemble a contact list of all the people you know. This includes but isn’t limited to: Family members, friends, past and recent co-workers, acquaintances, and people you know through your kids’ activities. Also include professionals like doctors, lawyers, and trades people like plumbers, carpenters and even the kid who cuts your lawn. Also list people you know through church groups, civil organizations and of course people from groups via social media like LinkedIn, Facebook and Meetup. I caution folks not to judge or qualify the contact, that will come later; the goal here is to get a list of names as big as you can. Shoot for 150 to start.

Once you have your list of names, qualify them. There are a few ways that work. One is the ABC method and the other is the Near-Far method. The ABC method requires you to evaluate whether or not you think the person can help you toward getting an interview. A, if the person is really connected and knows your work. B, if they may be able to help and C, if there is little chance of receiving truly helpful assistance.

Frankly, I have difficulty with this method, simply because I don’t believe that people really can guess who will connect them to the people with an opportunity. Great Aunt Tilda may very well be connected to an employer that you have no idea about. Great Aunt Tilda tells you to call little Billy, the “boy” who use to cut her grass. Only today, William is the big boss at a local manufacturer and he sends her a Christmas card every year telling her that he is willing to do anything for her, she only need ask.  You just don’t know who someone knows.

I like the Near-Far method. Near contacts I meet with face to face. Far contacts I talk to over the phone. Easy Peasy!  

Regardless of which method you use, call the person on the phone and ask to meet with them. (Of course if the contact is in the next state, don’t make a special trip, but if you’re going to be in the area this will work.) Let them know you’d like to use them as a reference and you’d like to talk face to face in order to let them know what you’ve been working on and what direction you are going. Then meet with them and ask them the three networking questions.

Then persist in following the steps of calling your contact, asking to meet, and then asking for other contacts who will get you closer to your goal -- Landing the Job!  Good Hunting!

Friday, February 25, 2011

Facebook: You looking at me?

I posed this question today during a breakout session... Does the benefits of Facebook and all its power, reach and opportunities out weigh the risks of viruses, scams, and loss of privacy?

In a group of 40 or more job seekers, most were 50 plus in age, we had a spirited debate about the pros and cons of using Facebook as a tool for people in transition doing a serious job search. The title of the breakout session was: "FACEBOOK: You lookin' at me?"

What do you think? How do you use Facebook? Do you use it for marketing yourself? Would you use Facebook for job searching? What about companies vetting candidates, checking out Facebook pages for insight into their candidates; is it fair? Tell me what you think?

What do people see as the risks of using Facebook as social media while conducting a job search, building a business or marketing themselves or their business?


Maybe it's more simple than that... maybe social media is far too open to risk anything as important as finding and landing your next job. Maybe all the noise Facebook presents in terms of people's rants, inane commentary on the world or their lives, makes Facebook not an appropriate professional networking or marketing tool. Is LinkedIn the only professional social networking environment to utilize?

I'd really appreciate any thoughts, suggestions or comments you have on the subject.  Remember that networking is not easy to do well, but it is essential in moving forward in your career.

Tuesday, November 2, 2010

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.