May 7, 2010, Newsletter Issue #30: Find 80% of Jobs on the Hidden Market

Tip of the Week

It is estimated that only 20% of all jobs are ever advertised, meaning 80% of jobs are filled by companies who never advertised the position. Instead these positions are filled by referral, the "who do you know" method of recruitment. So while keeping an eye on newspaper advertisements and internet job search sites is important, the percentages are in your favor if you investigate the hidden job market.


You may be saying, "Yeah, yeah, I've heard it before! Now, how do I access that 80%?"
Try the following, in this order...

Identify types of employers you are interested in
Find specific potential employers
Find contacts within the target employer

1. Identify types of employers
There may be companies you are familiar with and many more that you have never heard of. Many opportunities are located in smaller businesses, so while a Fortune 500 list of companies is a good starting point, by no means should it be your only list.
Consider:

Kind of industry you want to work for
Skills sets you want to use
Where you want to live

Information to look for:

Who hires people who do what you want to do
What industry makes/does what you want to be involved with?
What employers are in your geographic area of interest?
Who do you already know?

2. Find specific potential employers 
Tap into your network of professional and personal contacts to identify potential employers. Read major newspapers, especially The Wall Street Journal. Check out magazines like Fast Company.  Learn more about networking and informational interviewing from tips on LifeTips.com and use general search sites to find out the types of positions that use your skills, and what types of employers seem to be hiring. A good one through the BLS (Bureau of Labor Statistics) is http://www.bls.gov/bls/industry.htm
 
3. Find contacts
A good contact is anyone you can tell you about a job opening, give you industry insight and advice, or can refer you to someone else who can do either of these things. Never prejudge how helpful or unhelpful your contacts are going to be. While you may not think of your dentist as a good contact if you want to get a job in advertising, you never know who he or she may know.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.