From the course: Find a Job in the Hidden Job Market

What is the hidden job market?

From the course: Find a Job in the Hidden Job Market

What is the hidden job market?

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(upbeat music) - Let me demystify the hidden job market for you. Couple weeks ago, I was talking to my friend Amy. Her business has been booming. Amy is the kind of person that just lucked into entrepreneurship. She's really great at what she does, but she's not a good executor, and she's not good at operations. So she's been floundering. Soon after our conversation, I was trying to think how I could help Amy, and it dawned on me that she needed to meet my friend Brian. I sent an email introducing Amy to Brian. The two connected, had a couple phone conversations, and now Brian's working for Amy. This, my friends, is how the hidden job market works. The hidden job market are all the jobs or the potential jobs that maybe aren't advertised yet. These could be unadvertised because the position hasn't been created yet, or maybe the person's in the role, and the hiring manager realizes that this person may be leaving the opportunity in the future because of a promotion or personal reason. It's a proven fact that companies and hiring managers like to hire proven people or people that have been validated through their friends or through their network. Applicant tracking systems can truly feel like a black hole. On average, every corporate role gets around 250 applicants. Typically, only two to six of those applicants actually make it through and get an interview. That being said, job seekers who've leveraged the hidden job market are significantly more likely to get asked to interview. In fact, research shows us that 60 to 70% of people find a job through their network. And this number is even higher among senior executive job seekers. (upbeat music)

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