Have you realized that the typical job market is only covering approximately 30% of the jobs that are available at any given moment? According to some experts, this traditional job market only covers more than 10% of jobs that are available. What about the remainder of the job opportunities?
The unpublished job market also referred to as the”hidden job market, is home to approximately 70% of the job openings in the market. There’s more, however; 88% of the 6-figure jobs are filled by the unpublished job market. Because of its significance, this market should be an integral part of your job search.
Let’s examine the four strategies you could make use of to capitalize on the possibilities in this undiscovered job market:
1. Keep a list of the businesses that are of interest to you.
Why is it essential to spend time studying businesses? Since if you only submit your resume to every job opportunity, you come across, you’re inefficient and wasting your time while you think you’re doing something by putting out a lot of resumes.
The time you invest in looking into companies you’re keen on will be beneficial over the long term as you won’t have to spend hours and effort applying to businesses that aren’t a suitable fit for your career goals. Instead, you’ll apply for positions within the area of expertise and the location you’d prefer to work.
2. The Informational Interview
An informational interview can be considered to be one of the most efficient tools in using the unpublished job market when you talk to a person in the business or the area of interest in order to collect information about the working environment, opportunities for employment along with work ethics and other pertinent information. You also get advice and feedback regarding how to improve your chances of obtaining the job you’re searching for, not to mention that you’ll expand your contacts in the field or company you are targeting.
3. Your network is an excellent source of information and recommendations
When you are looking at your future job, the importance of networking for your career shouldn’t be overlooked. In reality, networking for careers should be an integral part of your everyday work and other career-related activities. Your network for career development is essential to have the time you require, whether for your day-to-day business or job hunting, as well as for progressing up the ladder of your career. Because we don’t know when we may require it, it is logical to maintain a strong career network, even if you believe you won’t need it immediately.
4. Directly contacting employers
Sometimes, you might need to reach out to a prospective employer directly as an alternative to or in lieu of submitting an application for a position of interest via their website. Maybe you weren’t able to discover a job of interest in the list of jobs available, and you’d like to reach the company and let yourself be known when the appropriate moment comes.
When asked about the most effective method to get ahead in the job market, the most effective solution I can offer is that the best strategy is a mix of all. It is essential to learn about and potential research employers, and you will discover what combination of strategies is most suitable for your prospective employer.
If you look at conventional job markets, you may think the job market without publication isn’t as straightforward or efficient as responding to traditional job advertisements, but when you consider the many options available, using in the job market that isn’t published is something you must be incorporating into your job search plan when you are trying to find the job or career progression opportunity that you are looking for.