Black Friday Sale! 50% Off All Access

Tips for Finding a Job in the Hidden Job Market By following these suggestions, people in transition will not only speed up the job search process but also increase their chances of landing a job exponentially.

By Alex Freund

This story originally appeared on Personal Branding Blog

graphicstock

In the current job market, it's not unusual for people to be looking for jobs over many months. It's a very competitive market, and job openings are few. This situation is amplified by the herd mentality whereby people deploy the job search strategies commonly used in the past. For example, asking people about their target companies elicits, in most cases, the names of large and very well-known companies. This means that all of those people are competing for the same few openings. Yet there are lots of jobs in the untapped arena called the hidden job market.

Related: The Single Most Important Thing You Can Do to Prepare for a Job Interview

The hidden job market is at the other end of the spectrum -- mostly hidden from the public because the jobs in it don't get published. Such jobs get filled by word of mouth or through recommendations. Most jobs are not advertised anyway, and people who get hired never responded to advertisements. Research has shown that 25 percent of people lie on their resumes. Hiring managers have a basic mistrust about resumes, preferring candidates who are recommended.

Some news articles profess that only one-third of job openings are advertised. That means that two-thirds of job openings are invisible to most job applicants. Here are some more facts.

Related: Best Tips for Increasing Your Networking Effectiveness

  • Big companies are eliminating jobs as a result of their mergers-and-acquisitions activities, while small and medium-size companies are creating jobs.
  • Small companies have problems attracting talent and are thus often settling for less-than-perfect candidates.
  • The job market is localized. Plumbers in New Orleans could be doing well, while those in other cities could be doing poorly.
  • At the same time that companies are laying off people, they could be hiring in areas where other employees are needed.
  • More than ten percent of the current job market is contingent (part-time, temporary or contract).
  • Two-thirds of all new jobs are on a contingent basis. The chances of a contingent job's becoming permanent are very good because the employees in them are known quantities.

So, what should job seekers do to increase their chances of getting employed? Here are a few suggestions.

  • It takes a minimum of 40 job-search work hours a week to get a job. Research has shown that many unemployed people spend less than 10 hours a week.
  • One has to make several contacts in the same company to get hired. It is a multi-step and protracted effort. Nothing happens fast when one is looking for a job.
  • People get jobs by talking to people. Improve your verbal and written communication skills.
  • You should be working on at least 5 leads at all times. Don't be discouraged by the voices in your head saying you cannot do it.

Related: How to Use LinkedIn to Find Your Next Job

By following these suggestions, people in transition will not only speed up the process but also increase their chances exponentially.

Alex Freund, known as the “landing expert,” supports job seekers into employment. He is known for making people feel comfortable when interviewing. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Living

These Are the 'Wealthiest and Safest' Places to Retire in the U.S. None of Them Are in Florida — and 2 States Swept the List.

More than 338,000 U.S. residents retired to a new home in 2023 — a 44% increase year over year.

Business News

DOGE Leaders Elon Musk and Vivek Ramaswamy Say Mandating In-Person Work Would Make 'a Wave' of Federal Employees Quit

The two published an op-ed outlining their goals for their new department, including workforce reductions.

Starting a Business

He Started a Business That Surpassed $100 Million in Under 3 Years: 'Consistent Revenue Right Out of the Gate'

Ryan Close, founder and CEO of Bartesian, had run a few small businesses on the side — but none of them excited him as much as the idea for a home cocktail machine.

Starting a Business

This Sommelier's 'Laughable' Idea Is Disrupting the $385 Billion Wine Industry

Kristin Olszewski, founder of Nomadica, is bringing premium wine to aluminum cans, and major retailers are taking note.

Side Hustle

20 Ways to Make Money from Home in 2023

Making money from home doesn't have to be complicated. Check out these 20 smart ways to make cash from the comfort of your computer desk.

Business News

These Are the Highest Paying Jobs Available Without a College Degree, According to a New Report

The median salaries for these positions go up to $102,420 per year.