Friday, February 22, 2013

The hidden market - Part1

Definition
Every opportunity that is not advertise publicly (job boards, company’s employment website, recruitment agencies etc).
The hidden job market is an unfamiliar and "dark" concept. 

Breaking the assumptions
1- "The common way for hiring is through advertising"One would think obvious for a company to just advertise and wait for responses in a dominant attitude. Hence, the proportion of hires made aside would just be casual.
But, consider it simply, just as you would do with your own relationships: you don't advertise to find friends and rarely meet new people through public events. Most of the time it comes from an introduction
Reality is that companies sometimes even bypass the big online job boards and placement agencies to fill job openings directly.

2- "Hiring starts with an formal process": The classical hiring process (sourcing, selection, interview) is activated only after a referral plan.
In deed, why to go through the time-consuming and expensive process of posting an ad and sorting through thousands of applicants when you have an alternative at hand?
As well, 24% of the openings remains through opportunistic encounters.

3- "Referral is a national secret": You may think that networking is restricted to a handful of individuals with the right insider connections who jealously guard the information about such opportunities.

Even if this approach is a long-term process that requires:
extraordinary efforts, 
- strategy and planning, 
- market intelligence,
- innovative skills,
- self-drive,
- resilience
and so forth
this is the best career investment you could do. It will not only provide a dream job but leads to new challenges, business resources, professional support and advice for the future.


Please share your thoughts in the comment section below.
Author - Kevin Simonnet

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