Are you part of the workforce, either a jobseeker or an existing employee, looking for better opportunities or ways to advance your career? If yes, then you might want to know that nearly 80% of job openings are never published, although there are plenty of methods to find them. This statistic was shared by Lou Adler, a hiring guru, who noted that the hidden job market is vast and holds better positions and growth prospects, often with higher salary packages.
This indicates that the advertised jobs that you might come across on job boards, social media platforms, and even through the career sites of companies. Still, they represent just a fraction of the open positions available. As a job seeker, you need to look beyond the conventional, visible channels and tap into the hidden job market to find the opportunities that best match your skills and aspirations. With the right strategies and tools, you can connect with the right people and tap into a world of possibilities that you might have otherwise missed.
In this article, we’ll dive deep into the so-called hidden job market and explore different ways that you can use to access it. From leveraging your existing skills and networks to creating your online presence and pitches, we’ll cover all the tips and hacks that can give you an edge and help you stand out to employers. So read on and discover how to unlock the vast and lucrative world of the hidden job market.
Hiring Statistics
Job seekers often wonder what percentage of available jobs are actually published. It’s difficult to provide an exact answer, as the percentage varies widely across different industries and job types. However, here are some key hiring statistics to keep in mind:
- More than half of all job openings are never advertised, according to The Balance Careers. They may be filled through internal promotions, referrals, or networking.
- For positions that are advertised, the percentage of applicants who are hired varies from about 2-3% for highly competitive industries to as much as 25% for less competitive industries, according to Jobvite.
- Jobvite also reports that the average time-to-hire for a position is 38 days, with higher time-to-hire for managerial or executive-level positions.
Why Do Companies Choose Not to Advertise Jobs?
There are several reasons why companies may choose not to advertise a job opening:
- Internal promotion: If there’s a strong candidate within the company who’s ready for a promotion, it can be faster, cheaper, and more effective to promote them than to go through the process of advertising and hiring externally.
- Referrals: Many companies have employee referral programs, where current employees can refer friends or family for open positions. Referrals tend to be highly valued by companies, as they come pre-vetted by someone who knows the company culture and the quality of work expected.
- Networking: Sometimes, companies will try to fill a position by networking within their industry or community. They may reach out to alumni groups, professional associations, or even competitors to find qualified candidates.
Hiring Trends
In recent years, hiring has shifted to become more candidate-focused. As the job market has become more competitive, companies have had to work harder to attract and retain top talent:
- Employer branding: More and more companies are investing in building a strong employer brand, which is the company’s reputation as an employer. This can include showcasing employee benefits, company culture, and social responsibility initiatives.
- Candidate experience: Many companies are also focusing on improving the candidate experience – that is, the experience a job seeker has when applying for a job with the company. This includes streamlining the application process, providing feedback to candidates, and communicating often and clearly.
Job Market Outlook
As of 2021, the job market is still recovering from the impact of the Covid-19 pandemic. However, there are signs of improvement:
| Industry | Projected job growth (% change from 2019-2029) |
|---|---|
| Healthcare and social assistance | up to 21% |
| Professional and business services | up to 16% |
| Education and training | up to 5% |
Job seekers should be aware of these trends as they conduct their job search. Remember, not all jobs are advertised, so it’s important to network and keep an eye out for non-traditional job opportunities.
Online Job Postings
Online job postings have become increasingly popular in recent years, with many employers opting to post their job openings on various job boards and company websites. In fact, the number of online job postings has been steadily increasing year after year, making it an important aspect for job seekers looking to find their next opportunity.
- According to a report by The Conference Board, online job postings rose by 2.2 million in 2019, for a total of 15.3 million postings.
- Research by Glassdoor found that job seekers today are most likely to begin their job search on a mobile device with 58% of job seekers using mobile job search apps.
- A survey by comScore found that 79% of job seekers used online resources for their job search, with 60% using online job boards.
With the ease and accessibility of the internet, more and more employers are shifting towards online job postings as their primary method of recruiting new employees. Companies can post job openings on multiple job boards at once, reaching a wider audience, and saving time and resources by not having to rely solely on traditional methods such as newspaper ads or in-person recruiting events.
Below is a table showing the percentage of job postings by industry that are published online:
| Industry | Percentage of Job Postings Online |
|---|---|
| Information, Finance, and Professional Services | 79% |
| Healthcare and Education | 53% |
| Retail, Hospitality, and Food Services | 46% |
| Manufacturing, Transportation, and Construction | 35% |
As shown in the table, industries such as Information, Finance, and Professional Services are more likely to have job postings online compared to industries such as Manufacturing, Transportation, and Construction. However, the use of online job postings is prevalent across all industries and continues to grow in popularity.
Unpublished Job Vacancies
Job seekers may feel overwhelmed with the number of job postings they come across when looking for employment opportunities. However, not all job vacancies are published and advertised to the public. It’s important for job seekers to understand the prevalence of unpublished job vacancies and the impact it may have on their job search.
- Definition: Unpublished job vacancies refer to job openings that are not advertised or made known to the public. These vacancies are typically filled through referrals or internal promotions.
- Percentage of Unpublished Job Vacancies: The exact percentage of unpublished job vacancies is difficult to determine as it varies by industry and company. However, studies have shown that up to 80% of job vacancies are never advertised publicly.
- Why Companies Prefer Unpublished Job Vacancies: There are several reasons why companies prefer to fill job vacancies through referrals or internal promotions. It can save them time and money on recruitment efforts and it allows them to hire someone who is already familiar with the company culture and has proven themselves as a reliable employee.
For job seekers, this means that relying solely on job postings may not be enough to secure a job. They must also network, build relationships, and actively seek out unpublished job vacancies. This can be done by attending industry events, reaching out to company employees on social media, or applying to companies directly even if there are no job postings advertised.
It’s important for job seekers to stay proactive and open to all job opportunities, even if they are not publicly advertised. By doing so, they increase their chances of landing a job and taking the first step towards their dream career.
Below is a table showcasing the percentage of job vacancies that are reportedly unpublished in various industries:
| Industry | Percentage of Unpublished Job Vacancies |
|---|---|
| Finance | 55% |
| Healthcare | 75% |
| Information Technology | 80% |
| Manufacturing | 60% |
These numbers only serve as a rough estimate and can vary greatly depending on the company. However, it’s clear that job seekers must be proactive in their job search and not rely solely on publicly advertised job postings. By being open to all opportunities, they may be able to find their dream job sooner than expected.
Recruitment Processes
Recruitment processes are the various steps involved in identifying, attracting, and selecting suitable candidates for job openings. There are several recruitment processes that organizations use to improve their chances of finding the best candidates for their job vacancies.
- Internal Recruitment: This process involves filling job openings with existing employees of the organization. It helps in promoting employee loyalty and minimizing hiring costs.
- External Recruitment: This process involves seeking candidates from outside the organization. It helps in bringing in new ideas and diverse skillsets to the organization, but it can be costlier than internal recruitment.
- Online Recruitment: This process involves posting job openings on online job boards and social media platforms. It is a cost-efficient and accessible recruitment process, but it may attract a large pool of unqualified candidates.
According to a report by the Society for Human Resource Management (SHRM), external recruiting was the most widely used recruitment process in 2019, with 72% of organizations using it to fill positions. Internal recruitment followed closely, used by 67% of organizations, while online recruitment was used by 47% of organizations.
Diversity Recruitment
Diversity recruitment is a type of recruitment process that is focused on creating a diverse workforce that reflects the population demographics. It aims at attracting candidates from different backgrounds, including gender, race, ethnicity, religion, age, and sexual orientation.
Organizations that prioritize diversity recruitment are more likely to attract a diverse range of skilled candidates. This can lead to a more inclusive and tolerant workplace that fosters creativity, productivity, and employee satisfaction.
Recruitment Metrics
Recruitment metrics are tools that measure the effectiveness of recruitment processes. They help organizations identify areas of improvement in their hiring strategies and optimize their recruitment processes to attract and retain top talent.
Some common recruitment metrics are:
| Recruitment Metric | Description |
|---|---|
| Time to Hire | The time it takes to fill a job vacancy |
| Cost per Hire | The total cost of hiring a candidate (advertising, recruiter fees, etc.) |
| Applicant Tracking | The number of qualified candidates who apply per job opening |
| Offer Acceptance Rate | The percentage of job offers that are accepted by candidates |
By analyzing these metrics, organizations can evaluate the effectiveness of their recruitment processes and make data-driven decisions to optimize their hiring strategies.
Hidden Job Market
The hidden job market is a term used to describe job opportunities that aren’t advertised to the general public and are only available through networking or other non-traditional methods. It’s estimated that up to 80% of jobs are part of the hidden job market, which means that job postings and job boards only account for a small percentage of the available job openings.
- Referrals – One way to tap into the hidden job market is to ask your network for referrals. A referral from a current employee is like receiving a stamp of approval from someone the company trusts.
- Networking – Building relationships and networking with people in your industry can help you learn about opportunities that aren’t publically advertised.
- Company research – Do your research on companies you are interested in working for, learn about their culture and what they are looking for in an employee. This will help you identify where you might fit in and what skills you can bring to the company.
You should also broaden your job search beyond just job postings. Attend industry events, connect with people on LinkedIn and other social media platforms, and make yourself known in the industry. You never know where the next job opportunity might come from.
Finally, it’s important to note that the hidden job market isn’t just comprised of entry-level positions. Senior-level and executive positions are often filled using non-traditional methods and typically aren’t advertised publically.
| Advantages of the Hidden Job Market | Disadvantages of the Hidden Job Market |
|---|---|
| Less competition | Harder to find opportunities |
| Opportunities to stand out and make a meaningful connection with the company | May require more effort and time to find the right opportunity |
| Increased chances of getting hired because you have a referral or connection | Can be more about who you know rather than what you know |
In conclusion, the hidden job market is a significant source of job opportunities that aren’t publically advertised. With the right networking approach, you can tap into these opportunities and increase your chances of landing your dream job.
Job Market Analysis
Understanding the job market is crucial when looking for employment opportunities. It helps job seekers have an idea of the types of jobs that are in demand and which industries are thriving. In this section, we will discuss the percentage of jobs that are published in the job market analysis.
- According to the US Bureau of Labor Statistics, the unemployment rate was at 5.9% in June 2021, with about 9.5 million people unemployed.
- As of July 2021, the number of job openings reached 10.1 million, while the number of hires was 6.7 million.
- A report by Monster showed that in 2020, job postings in the healthcare industry rose by 34%, while job postings in the transportation industry decreased by 31%.
The table below shows the percentage of job openings based on industry:
| Industry | Percentage of Job Openings |
|---|---|
| Education and Health Services | 16.5% |
| Professional and Business Services | 15.7% |
| Trade, Transportation, and Utilities | 12.6% |
| Leisure and Hospitality | 11.2% |
| Manufacturing | 9.2% |
| Construction | 5.5% |
Based on the statistics mentioned above, job seekers can narrow down their job search based on the industries with the highest job openings. It is essential to keep up with the latest trends and job market analysis to stay ahead in the job search game.
Impact of COVID-19 on Hiring
The global COVID-19 pandemic has caused unprecedented disruption to the labor market, with businesses across all sectors forced to cut costs and re-evaluate their hiring plans. Here are some numbers that shed light on the impact of COVID-19 on hiring:
- 70% of companies froze their recruitment efforts in April 2020, according to a survey by HR consulting firm Mercer.
- The number of active job listings decreased by 36% from the beginning of March to the end of April, according to data from job search site Indeed.
- 73% of staffing firms said their business had been negatively impacted by the pandemic, with 42% reporting layoffs, according to a survey by Staffing Industry Analysts.
As the pandemic continues, the effects on hiring are likely to persist. However, some industries have seen an uptick in job openings as demand for certain products and services increases. Here are some examples:
Industries seeing increased demand:
- Healthcare – due to the need for additional medical staff and equipment to fight COVID-19
- Grocery stores – due to increased demand for essential grocery items
- Delivery services – due to increased demand for online shopping and delivery
The pandemic has also affected the hiring process itself, with many companies turning to virtual interviews and remote onboarding to adapt to the new normal. Here are some ways the pandemic has impacted the hiring process:
- Virtual interviews have become the norm, with 86% of employers conducting interviews remotely, according to a survey by HireVue.
- Remote onboarding has become increasingly popular, with online training programs and virtual meetings replacing in-person orientation sessions.
- Employers have faced delays in background checks and drug testing due to closures of government offices and testing facilities.
The following table shows the industries most impacted by COVID-19 in terms of job losses:
| Industry | Percentage of job loss |
|---|---|
| Hospitality and leisure | 47% |
| Retail | 30% |
| Manufacturing | 25% |
| Construction | 20% |
Overall, the COVID-19 pandemic has had a significant impact on hiring, with many businesses freezing recruitment efforts and laying off workers. However, as the situation continues to evolve, some industries are seeing increased demand and adapting to new ways of hiring and onboarding employees.
What Percentage of Jobs are Published FAQs
1. What does it mean when we talk about published jobs?
Published jobs refer to employment opportunities that are officially advertised and made available through various channels, such as job search engines, company websites, social media platforms, and recruitment agencies.
2. Are all job openings published for public view?
No, not all job openings are published for public view. Some positions may be filled through internal recruitment processes, employee referrals, or headhunting, which means they are not published for external candidates.
3. What’s the estimated percentage of jobs that are published publicly?
According to some studies, between 65-85% of job openings are published publicly and made available for external candidates to apply.
4. Does the percentage vary by industry or company size?
Yes, the percentage of published jobs varies by industry and company size. For instance, small companies may rely more on employee referrals and word-of-mouth recruiting, while large corporations may have a higher number of published jobs through multiple channels.
5. Are there any exceptions to the rule?
Yes, there are some exceptions to the rule. Some high-level executive or specialized positions may not be published publicly for confidentiality or privacy reasons, and they may be filled through personal networks or specialized recruiting firms.
6. How can job seekers access published job opportunities?
Job seekers can access published job opportunities through various means, such as online job search engines, recruitment agencies, company career websites, job fairs, and networking events.
7. Is it recommended for companies to publish all their job openings?
While it may not be feasible or necessary for companies to publish all their job openings, it is recommended to have a transparent and fair recruitment process, and to use multiple channels to reach out to a diverse pool of candidates.
What Percentage of Jobs are Published – Conclusion
Overall, between 65-85% of job openings are published publicly, which means that job seekers have a high chance of finding suitable job opportunities through various channels. However, not all job openings are published, and some positions may be filled through internal or specialized recruiting processes. Nevertheless, it is essential for companies to have a transparent and inclusive recruitment process, and job seekers can access job opportunities through multiple means. Thank you for reading, and we hope to see you again for more insightful articles.