RN JOBS NEAR ME
In order to better understand the unpublished job market, let’s take a minute
to review first the more traditional published job market in order to better
understand the difference between both.
The published job marketplace is where we usually go for available published
opportunities, you know, the newspapers ads, Job Banks, Staffing or recruiting
agencies postings and Job Fairs.
But did you know that the published jobs only represent about 30% of all
available jobs at any given time? Some experts in the field even claims that
this job marketplace represents only about 10% of all available jobs.
So the logical question is, where are the rest of the available jobs?
The Unpublished Job Market
The unpublished job market, also known as the hidden jobs market, is where
job openings are filled without being advertised, or at least, not in the way
we are used to as will see in a moment.
The unpublished job marketplace represents about 70% of available jobs at
any given time. But there’s more; 85% of the six-figure salary positions are
filled via this unpublished jobs market. That means that the executive job
listing we see in high end publications such as The Wall Street Journal,
Barron’s or The Financial Times, to name a few, only represents around 15% of
the six-figure salary positions available.
Then the question is why this hidden market exists in the first place?
Why there is not just one place we can go and find all available jobs in the
market?
To help ourselves answer these questions, let’s take a quick look at the
mechanics of both employment markets.
How the Published Job Market Works
Receptionist Jobs Near Me In the case of the more traditional job marketplace,
we perform our search on the available job listings to determine what positions
we want to pursuit. Then we send our resume to either, the employer, placement
agency or headhunter, depending on who post the listing.
Once your resume is received, the recruitment team does the initial
screening of the received resumes. The surviving resumes are then sent to the
hiring manager to review and the actual interview process begins.
First, HR or the hiring agency do a first round of interviews to see if the
candidate fits into the corporate culture and to validate the resume
information. Then the hiring manager interviews the screened candidates to
select the most suitable one. Once the interviews are performed and the best
candidate selected, the job offer process begins.
If the hiring company is performing the process, the HR team will present
the offer the HR team will present the offer. In the case of a head hunter, it
will serve kind of an intermediary between the hiring company and the
candidate, making sure the candidate receives a good offers as its commission
if usually a percentage of the final salary.
How the Unpublished Job Market Works
In the case of the hidden jobs marketplace, the process is kind of more
streamlined and or even more discrete.
The job fulfillment process on this market is more company driven, sometimes
using external resources, but in rather a different way than in the traditional
job market. On this market, job referrals are more common as companies looking
for good candidates ask business partners, suppliers, contacts in other
companies or even their own employees for referrals.
Some companies even have employee referral programs; after all, who better
than the employee to know if the referred candidate fits the corporate culture
as he or she lives it every day. In one Fortune 500 company I used to work for,
the employee referral program actually paid a cash incentive for every referred
candidate that got employed and completed their first three months on the job.
When you compare how both markets works, you might be thinking that the
unpublished job market is not as easy or convenient as responding to published
jobs ads. But when you look at the number of possibilities available,
definitively the hidden job market is something that you should consider as
part of your overall job hunting strategy
.
Four Strategies Help You Find Your Dream Job in the Unpublished Job Market
Did you know that the traditional job market only covers around 30% of all
jobs available at any given time? Some experts claim that this traditional job
market covers no more that 10% of the jobs available. So where are the rest of
the available jobs?
The unpublished job market, also known as the hidden job market, covers
around 70% of all available jobs available in the marketplace. But there’s
more; 80% of the six-figure salary positions are filled within this unpublished
job market. Due to its importance, it should be part of your overall job search
efforts.
Let’s look at four strategies that you can use to leverage on the
opportunities available on this hidden job market:
1. Have a list of companies of interest.
Why it’s important to take the time to research companies? Because if you
just apply for any job opening you find, you’re wasting time and energy, even
though you might feel like you’re accomplishing something by sending out tons
of resumes out there.
The time you spend upfront researching about companies you are interested in
will benefit you in the long run, because you won’t be spending time and energy
applying to companies that aren’t a good fit for your career plans. Instead,
you will be applying for job positions at companies in your field of preference
and where you would like to work for.
2. The Informational Interview
The informational interview is one of the most effective tools when it comes to leveraging the unpublished job marketplace. In-kind of interview you
interview a person from the company or field of interest to gather information
about the work environment, job opportunities, work ethics and other useful
information and to get feedback and advice on how you can improve your chances
of landing the job you are looking for, beside the fact that you will expand
you network of contacts in your target company or field.
3. Your network as source of information and referrals
When it comes to looking for your next job, the importance of career
networking should never be discounted. In fact, career networking should become
a part of your daily work and career-related endeavors. Your career network
should be in place for when you need it, for relationship for day to day business,
job searching and for moving along the career ladder. As we never know when we
might need it, it makes sense to have an active career network, even if you
think you don’t need it right away.
4. Contacting employers directly
Sometimes you may want to contact a potential employer directly, in addition
to or instead of applying for a position of interest on their website. Or maybe
you didn’t find a position of interest among the ones posted and you want to
contact the company to let yourself known for when the right time comes.
When asked about what is the best method of getting ahead in the unpublished
job marketplace, the best answer I can give is that the best method is a
combination of all. You should do your homework to study and filter out your
potential employers and you will see which combination of strategies will suit
your purpose for a potential employer.
When you compare to the traditional job market, you might be thinking that
the unpublished job market is not as easy or convenient as responding to
published jobs ads, but when we look at the number of possibilities available,
working the unpublished job market is something that you should include in your
over job search strategy when it comes to find that job or career advancement
opportunity you want.
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