Does the unadvertised job market exist?
There are countless myths surrounding the unadvertised job market, statistics are banded about suggesting that anywhere between 70–80% is in the hidden job market. The statistics on the Labour market differ widely between the CIPD
the newspapers and Government figures.
These figures can never be 100% accurate as there is lots of activity going on behind the scenes.
Hundreds of clients over the years, have said; “I’ve never had to job search before, jobs have always found me
” this is backed up by the old addage “It’s not what you know , it’s who you know"
If this is true, then why is it difficult for some people to believe that some jobs never make it in to the public domain? What do you think? Have you ever found a position based on your own network contacts? Share your stories in the comments below or book a one to one career consultation.
Lowering the risks by recruiting internally
Perhaps they did not realise they needed to fill a position until they met an outstanding individual. It is common place for a hiring manager to look internally first and then ask employees if they know someone who might be able to do the job. This is the common sense approach as it reduces advertising costs and cuts out the recruitment consultants. It makes perfect sense, especially in difficult economic times. Susan M. Heathfield explainsthe finanial implications of advertising a Job
. What are your experiences of recruiting from within?
What about clearing the “Dead Wood” and bringing in “New blood”?
At the Executive end of the market it is common place for a new CEO or Managing Director to surround them with a team they trust. During mergers and acquisitions entire management teams can be replaced by the “trusted team”, again this makes perfect commercial sense. This type of move can often lead to people being displaced or made redundant in favour of a fresh set of eyes. We know these jobs were never advertised, there was no job spec to box tick. We can soon see how the unadvertised market takes shape and how this 80% hidden is no more than common sense. Has this ever happened to you?
What about the rise of the compromise agreement?
Let’s look one step further at companies who are handling &ldauo;sensitive” situations these positions have to be kept under the radar, or perhaps they didn’t even realise they needed someone to improve things before they met you. The unadvertised market is alive and well and helping people secure their next position or contract. Do remember in difficult economical times there is no such thing as a permanent contract, simply a contract without an end date. The compromise agreement
is also on the rise, they do not always have to be a negative experience. They can present a win win to you and your employer. Carer Coaching and Job Search advice
can be a crucial part of that agreement Is this something you have been through, how was it handled?
How can you access the unadvertised job market?
The unadvertised market is about leveraging your contacts and defining a proposition that employers need. Do your family and friends know what you do? It sounds a strange question we quite often know a person’s job title but are unclear as to what they do. When did you last take the time to consider your achievements? If you cannot clearly explain why a company needs someone like you, how do you expect other people to?
Your Questions answered
Q. When I was made redundant I called all of my contacts to let them know; now no one calls me back, why are they being so unhelpful?
A: This is a fairly common reaction and one that I hear more and more from people. The answer is fairly straightforward. What help were you expecting your contacts to be able to give you? Were you asking for something you realistically can expect them to fulfil? All too often job seekers go about their “networking” in entirely the wrong way. How would you feel if someone asked you for something you simply couldn’t give? Your contacts are unlikely to have a job for you at the exact time you might need one. However, they may know someone who does, IFthey have a clear understanding of what you do.
Q. I know I should be networking but I find the prospect daunting, how can I get started?
Networking does not have to be hundreds of people in a room frantically swapping business cards. It can be a cup of coffee with an old contact or a pint with an ex colleague. Start with where you feel comfortable, some people prefer to do their entire networking one on one. What types of people are interesting to you at this time? Where might you find those people? Once you know where they are consider how you are going to approach them and what message you wish to deliver. Remember that a subtle message will get you further than asking for a job!
Q. All of my network contact has retired. Is there any other way?
A: Even when people retire they can be useful, their knowledge and experience is still valid and they will still know people. This is one of the common excuses I hear from job seekers who have failed to grow a sustainable list of network contacts. It is never too late to develop a network and once you realise their importance you will work hard to keep them! Your network should make it easier every single time you job search or seek a new contract. Stop making excuses and talk to people.
Q. Does networking really work?
A: The easiest thing to do here would be to throw a statistic at you; over the last 12 months 80% of my clients securing a position did so through some form of networking. It is simply about having good strong business focussed conversations with like minded people and potentially creating an opportunity for yourself. Those who are focused solely on the advertised market know that it leads to frustrations and the useless feeling of sitting in front of a computer. We need people and we need inspiration, where better than from our network contacts?
Arrange your one to one consultation now
and ensure you have secured your new position before 2013. Now is the time to take action.