Cold calling is the best way to tap into the hidden job market in 2023.
- Does cold calling work?
- What is the hidden job market?
- Why do applicants avoid the hidden job market?
- How do I access the hidden job market?
What is the hidden job market?
The hidden job market refers to unadvertised and non-existing jobs. This covers 60 to 80% of jobs.
Tap into the hidden job market
- Despite this high percentage of jobs, most applicants only rely on online advertised jobs. And job applicants do not pay attention to the hidden job market.
- Your chances of succeeding in finding the right job are much higher when exploring the hidden job market. This is due to no competition.
- Even jobs that are usually advertised online can be filled before being advertised, through the hidden job market.
- Employers spend time, effort and money on advertising for a new job opening. So, if they find the right person, without having to advertise, they will hire this person.
- Don’t hesitate to negotiate a higher starting salary. As you would be the only candidate.
Tips to explore the hidden job market by cold calling
- Cold canvassing shows that you take the initiative and you don’t wait for a job to be advertised online.
- Target companies in the industry that you are in or you want to be in.
- Contact these companies directly, after you research these companies.
- Research companies online.
- Contacting companies directly can be very rewarding.
- Don’t be discouraged. Even if you are not comfortable.
- Start increasing the number of calls each day.
- It becomes easier as you practice and make more calls. The whole job search process can be very stressful. Keep in mind that practice makes perfect.
- Start with the major players in the industry.
- Obtain contact details from business listings, internet listings and company websites. Contact the senior managers at those companies.
- Also see my job interview coaching.
- If a manager says that they don’t have any openings, ask them if they expect to have any openings in the future. Also ask them if they know any other companies that may be hiring. You’d be surprised at the number of people who will help refer you.
- Due to the high cost of advertising and going through recruiters, many companies only post job openings on the company website. So, check company websites in the industry that interests you. Also, check the links on those websites, as they are usually related.
More reasons to focus on the hidden job market
- If you contact a company while they are deciding to create a position, you may be the only applicant. And they may hire you, which is another advantage.
- A senior manager may create new positions for talented individuals who have contacted them through cold canvassing.
- Finding a job by cold canvassing may not be as quick as finding an advertised job. But it is more rewarding, as the success rate is higher. This is due to no competition compared to 300 applicants per advertised job.
- Also see cold cover letter for unadvertised jobs.
Another way to tap into the hidden job market
- See my article on networking and how to explore this method.
Also, check out my article on how to answer “what is your expected salary?”
I assist clients worldwide, including clients in USA, Canada, Australia, Germany, India, Brazil, UK and Japan. Also, assisting clients across Australia in New South Wales, Victoria, Tasmania, Queensland, South Australia, Northern Territory, Australian Capital Territory and Western Australia.
Why do applicants avoid cold calling?
- Because they find it easier and quicker to apply for advertised jobs. However, they don’t take into account the low competition with unadvertised jobs.
This article was updated on 26 August 2023.
KMD-Solutions is based in Sydney, NSW, Australia