The Hidden Job Market: Cracking the Code
More often than not, millions if not thousands of newly graduates across the nation take on a sojourn called job hunt. Each of this people arm themselves with the knowledge they gained from school knowing that their solid educational background experience has prepared them for making an immediate contribution to the workforce. But how much do they really know about the job market? These graduates scamper to these companies that have publicized their job openings hoping to be one of the lucky ones and land a post at the company.
What they do not know is that there are a lot more jobs out there waiting for them. Such is called the hidden job market. What then is a hidden job market? As Niznik describes it, the general consensus is that is made up of jobs that are not or never advertised (1997, para. 1). However, statistics quoted by reports are vague and varying. Some say that 80 to 85 percent of jobs are not advertised while others say less than 50 percent are publicized. But that is not our concern anymore.
If these statistics are true, then how do jobseekers find these jobs and how do these companies fill up their positions? While it may be true that 51 to 85 percent of jobs are not publicized whether in print or media, I’m sure that in one way or another, they still receive some kind of advertisement. Now, the question is “How do we tap the hidden job market? ” Employees retire, resign and move out, transfer and get sick. Advertising these job vacancies in media is expensive and so companies try to resort to a much cheaper form or shape of advertisement.
Using the push and pull concept of advertising, we cite examples. Word of mouth is an essential and effective way of low-cost advertisement. Some companies use this strategy to fill in their vacancies. As a resort, you could use the Referral method or the networking system. To get the word out about these jobs, employers provide cash incentives to employees if the people they recommend get hired. Word of mouth is a most recommended course for these “unadvertised” jobs to be filled, and cash incentives certainly get people talking.
Now that’s advertising! But the hustle and rigors of venturing the hidden job market does not end there because there is much more to that, thus, introducing the concept of Push. The best way to find the hidden job market is by identifying and researching target employers, finding who to contact, and contacting them. While some still advocate the old notion of searching jobs via going to the libraries to research companies, calling job hotlines, visiting career centers and so on, I say these are tedious processes.
Haven’t they heard of the Internet which definitely makes it easier tapping the market by just few clicks? Given these, eventually you’ll have to make contact in person and you can save time by doing much in your own space. Using the Pull concept, make yourself visible to potential employers by advertising yourself in the job market. By way of posting your resume on the internet such as www. job-hunt. org, or creating your own personal webspace, you can keep employers abreast of your status.
More so, with the advent of web portals such as friendster and myspace, you can do the same. After you have established your network, make sure to maintain it and keep it updated. With just a few mouse clicks and keystrokes, let the employer know about you and you are surely on the right track of landing a post in a company.
Niznik, J. S. (1997). Tap the hidden market using your computer and the internet. Retrieved July 26, 2007, from http://www. about.com.