Monday, February 9, 2009

The Hidden Job Market

Today's post comes from Neal Griebling of Future Design Studio. Neal's topic is word of mouth referrals and the importance of networking. His advice is directly related to career searches, but can the theory can be applied to any business building activity.

Neal Griebling:

It’s a commonly accepted fact: 80 percent of the jobs in the United States are never advertised. This phenomenon is what is known as The Hidden Job Market. How do you penetrate that market?

Informational interviewing combined with mastering the art and science of work-of-mouth referral (WOMR) networking. These two strategies are absolutely necessary in finding work in a recessionary economy. Today let’s look at why you should adopt these strategies.

The current recession is impacting the entire economy. Many companies today are simply not hiring; actually, they are laying off workers. They are retrenching and not taking job applications.

Yet business leaders have problems and issues they must grapple with if they are to survive and prosper. There will always be a need for people who can solve problems, design new products, cut costs, and increase efficiencies within a company. Business leaders do not want meet job seekers; they may, under the right circumstances, consent to informational interviews with people who are referred to them by people they know and trust. And this is where you must employ your word-of-mouth referral networking strategy to create openings for yourself.

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