Despite dozens of books, thousands of blog posts, and 131,000 Google results, I have never believed that there is a “hidden job market.”
Taking things a step further, 70 career experts were recently asked if they believed a hidden job market is the real deal. Surprisingly, many believe is is. But they did find several problems with the notion.
1. Definitions and interpretations of the “hidden job market” may not reflect reality. “Hidden” may not be the best term for this sector of available jobs since employers don’t deliberately hide vacancies.
2. Those who are skeptical about the hidden job market generally admit it exists but dispute commonly bandied-about figures – that the hidden job market comprises 75-95 percent of the job market — contending that the portion of the job market that is unadvertised is much smaller. The size of the hidden job market may also fluctuate based on the economy, some say.
**The employer needs to confidentially replace a nonperformer.
**The employer at a public company fears news of significant hiring will hurt stock prices.
**The employer does not want to reveal future plans to competitors and others, and publicizing openings could expose those plans.
**The employer wants to get referrals before or instead of publicizing the vacancy and being inundated with resumes from unqualified candidates.
**The employer hires a search firm or recruiter to conduct a confidential search.
**The employer uses social media or other non-advertising means to find candidates.
**The employer may be very small and does not have the resources to advertise the opening.
**Human error; the employer simply fails to publicize the opening (e.g., lack or time, forgetfulness) or has a poorly designed Website, where job-seekers have difficulty finding vacancy listings.
**The opening exists, but there’s a hiring freeze, so the job cannot yet be publicized.
**The opening is still “in the pipeline;” it’s unofficial, so it cannot yet be publicized.
Quint Careers offers several ways to tap into the unpublicized job market.
We want to know what YOU think? Is the hidden job market really out there? Or, does proper networking simply allow employers for forgo the traditional job search methods?