So what is “The Hidden Job Market”? Is it a thing?

The hidden job market refers to employment opportunities that are not publicly advertised or easily accessible through traditional channels. Instead, these opportunities are often filled through networking, referrals, and internal promotions. Never mind positions that arise due to an intersection of select & timely available talent and the desire for a company to “upgrade” in a certain area. According to an article on Eddy HR Encyclopedia, an estimated 70-80% of job openings fall into this category.

How does one embrace the hidden job market? (Bonus points if you notice the common theme)

• The Forbes Human Resources Council highlights that many financial firms prefer to fill vacancies through internal referrals and recommendations. By actively participating in professional networks, attending industry events, and engaging with peers, financial professionals can uncover unadvertised positions and gain a competitive advantage.

• In the hidden job market, referrals and recommendations hold significant weight. By building a strong professional network and establishing meaningful connections, financial professionals can showcase their skills, expertise, and accomplishments to those who can advocate for them in the hiring process.

• Traditional job search methods often result in a flood of applications being evaluated by “keyword software” or recent grads in HR, making it challenging for experienced financial professionals to stand out. Working the hidden job market allows candidates to bypass the HR bottleneck and even be considered for opportunities that have yet to be publicly announced.

• By investing time and effort in nurturing relationships and expanding their professional network, financial professionals can create a foundation for long-term career growth. The hidden job market provides a continuous stream of potential opportunities, even before they become available.

Maybe I shouldn’t be offering bonus points – it’s obvious. One accesses the hidden job market by creating and maintaining healthy relationships and networking within their industry and/or discipline. It certainly won’t hurt to do the same at your current company either.

By understanding the power of networking, referrals, and leveraging untapped opportunities, you can unlock doors that may not be accessible through traditional job search methods. Need help? Want to discuss further? Give me a shout. Let’s talk it through.

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