Perhaps, you too have seen this stat floating on the Internet: “Approximately 80% of all job openings are part of the hidden job market”. Now you are wondering: is the hidden job market really a thing? And if so — is it as big as they say and how do I get in?!
Yes, the “hidden job market” exists, but a more accurate term would be “hidden in plain site”. Let’s start with the hidden job market definition to understand better what people mean by it.
What is the Hidden Job Market?
The hidden job market refers to all job openings that aren’t immediately publicized on a job board or corporate website but instead filled in internally, through referrals, or direct head hunting. In other words, the hidden job market includes all hiring channels, except for public job listings, used by recruiters to fill open roles. And those are plenty — LinkedIn, employee referrals, and recruiters’ professional networks among others.
A 2023 survey by HireRight found that 58% of North American employers and 61% of EMEA employers see referrals as the most effective recruiting channels, followed by internal recruitment.
Source: HireRight
Why Does the Hidden Job Market Exist?
Despite what the news headlines say about layoffs, many companies continue to face the talent crunch. Three-quarters of companies globally had reported talent shortages and difficulty in hiring over the past year. When skilled talent is hard to source, the competition gets aggressive.
Gartner found that during the past year, half of the candidates who have accepted a job offer then backed out before starting. In most cases, because they received a better counteroffer. Because the competition has gotten more aggressive, many hiring teams are exploring alternative hiring channels, designed to build a personalized rapport with the applicants.
Research found that 45% of referred employees stay with the company for at least four years, while only 25% of employees sourced from job boards stay longer than two years. Likewise, employees at companies with high internal mobility stay 60% longer, LinkedIn found. Internal recruiting stands for filling new roles with current employees from another team, department, or function. It’s another “hidden in plain sight” job opportunity that few people take advantage of.
Job opportunities can also stay hidden if the employer lacks a formal hiring process: Smaller, family-run companies might not want to go through the hassle of advertising the job publicly and sorting through hundreds of resumes. They’d rather use their professional network to find the right candidate.
In addition, many senior and executive-level roles are rarely advertised publicly as recruiter Amy Miller notes in her video. Why? Because such roles are often granted internally, poached for by competition, or strategically negotiated with a small pull of pre-vetted candidates.
6 Ways You Can Find Jobs in the Hidden Job Market
If you want to get an amazing new job this year, make the move first. Don’t wait till the vacancy becomes public. Instead, work your way to getting on the employers’ radar. Here are six strategies for that.
Ask About Internal Opportunities
Given the current fierce competition for talent and the overall time and costs associated with recruiting, more and more employers are focusing on retraining and upskilling their current staff. So when was the last time you spoke with HR or your manager about new career opportunities?
If that was a while ago, book a quick meeting with an HR to discuss your shifted career objectives or new aspirations. Showing interest and enthusiasm is a shortcut to getting on the internal recruiting list and being the first to know about potential openings. And it’s something you can do today!
Work on Your Personal Brand
Rather than waiting for the right hire to apply, recruiters have become more proactive and search for suitable candidates online.
In that sense, having a personal website or online portfolio, and social media accounts can help you get on the employer’s radar and be invited to apply for a hidden job opportunity.
The best way to low-key research job opportunities is with LinkedIn. A well-optimized LinkedIn profile is itself a magnet for possible referrals and direct interview invites from recruiters. Considering that you already covered the basics — have a professional photo, listed your work experience, and education — let’s focus on more advanced strategies.
First, let recruiters know you’re considering opportunities. Use the OpenToWork profile frame (not visible to your current company FYI), which increases your chances of receiving a relevant message from a recruiter by 40%.
Next, optimize your profile headline to attract more hits when companies are searching for experts in your field. Add your most marketable skills (e.g., Data Scientist | Python, R, ) or tout some of your accomplishments (e.g., Telecom SDR with an 80% close rate).
Finally, work on your profile summary. Give a quick snapshot of your career, main skills, and competencies. Include accolades, certifications, or other credentials that employers may look for. Lastly, add featured portfolio items: Projects you’ve worked with or praise you’ve received from colleagues.
Remember: Most recruiters search by keywords (e.g., customer experience management or UX design), rather than titles as these vary a lot across different organizations. Your goal is to sprinkle in those words (you can look ‘em up in the candidate requirements section on public job boards) to increase your visibility on the platform.
Build Relationships with Recruiters
Recruiters are your best friends in the hidden job market. After all, they’re the ones deciding when (if ever) the job ad goes public. In many cases, they can fill the role using their existing talent pool of candidates: past applicants, referrals, or professional connections.
Becoming one of those professional connections can open you to a myriad of new job opportunities.
As we shared before, contacting a recruiter is pretty easy. You can connect with a person who hires for your industry on LinkedIn. Send a quick personalized message, explaining your background and why you’re seeking to connect. Then follow up with a more detailed message, explaining what type of opportunities you’d be interested to pursue. Email is another good option for connecting as are in-person events.
Network Online and In-Person
Generally, you shouldn’t just be chatting up with recruiters, but with people in your industry at large. That’s networking — a fancy term for information exchange. Networking is simply letting people know what you do, what skills you have, and how you can be of help. That way, when an opportunity arises, the other person can think of you and make that recommendation.
For example, a former colleague now works in a new company and they’re expanding the team. Your skills are a great fit and you’ve told them you’re considering a change. So they refer you to the company.
Right, but how do you network without sounding too sleazy or sell-sy? Shep Gordon, a celebrity manager and insider in Hollywood has this one really simple tip for becoming great at networking: Take a service-driven approach to people.
What does that mean? Gordon suggests that whenever you put on your “networking” hat, the first thing you need to think about is “How can I make this person’s day better?”. By entering every conversation from this perspective, you can build long-lasting and memorable relationships with others.
Received a new LinkedIn connection request from a recruiter? Add a quick introductory note, briefly stating what you do and asking if there’s any way you could help them. Heard about a friend, struggling to find a new designer? Send a good referral their way or promise to take a look at their issue yourself. By paying forward you cultivate a better reputation for yourself, leading to reciprocity and a whole lot of hidden opportunities.
Send a Letter of Interest
A lot of companies now accept “spontaneous job applications” — a resume submission for no particular role. This gets you into the company’s internal talent pool, so that whenever they’re looking to hire for a relevant position, you may receive an interview invitation.
That said, your resume may get lost in a pile of others. So a more effective strategy is to pair it with a letter of interest — a formal introductory message to the hiring manager or another company representative.
Think of it as an ‘ice breaker’ that helps you start the conversation with a potential employer. A good letter of interest usually briefly explains the reason behind your inquiry (e.g., you want to know if they’re hiring), summarizes your work experiences and skills and suggests the next steps (e.g., an informational interview).
Check-in With Your Alumni Network
Most alma mater’s have active alumni networks — and those aren’t just useful for reminiscing about your college days. Alumni associations connect people at every stage of their career — from recent graduates to executives, who may now be looking to hire more people on their team or open to mentorship.
Some schools, in fact, curate exclusive job opportunities for the alumni online. Others host virtual or in-person events, which can be great for networking. So have a poke around to see if you could create new connections and get some referrals.
To Conclude
The hidden job market is largely unseen to people who are not looking for opportunities beyond the job aggregation websites. By leveraging other hiring channels like social media, your personal and professional network, you can get invited to more exciting and exclusive job opportunities. Try it!
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