Lots of jobs are unadvertised, particularly during the credit crunch – learn how to tap into the hidden job market
Many companies don’t like to advertise nor do agents like dealing with lots of new candidates. The contracting market often relies on word of mouth and recommendations. Having the support of BITE and our existing contractors allows you to access the hidden job market in a whole new way. Its not unusual for an existing BITE contractor to recommend you to an agent, and of course we do so to. Because of the unique way in which we operate you’ll soon discover just how large and lucrative unadvertised jobs can be.
What is an unadvertised job?
Like the name suggests, these jobs are not advertised but are actual vacancies that clients have informed agents about. In some cases a client may well be looking to fill a position directly (without using any agencies) but these jobs are almost always advertised.
Between 40-60% of all
contract jobs are unadvertised!!
Recruitment agents regularly get requirements and job specifications but will find the right person for the job without even advertising it! These unadvertised jobs can be filled by agents who can use existing databases which store a number of CV’s for 100’s or even 1000’s of candidates. An agent can simply search through their own in house databases and find the right candidate to approach for the role.
However the obvious flaw with this approach is that the CV’s of candidates on the agencies database could be out of date. Many of the people listed might not be looking for a contract job! So a large number of poor quality CV’s from candidates not looking for a job, combined with no new CV’s (since the job in unadvertised) creates the hidden job market.
Why aren’t they advertised?
There are many reasons; the most common are costs & speed. Particularly in the current financial climate many agencies will be looking to reduce costs – one method it to limit the number of job adverts being placed. But fewer adverts will mean less CV’s and candidates for agents to consider. The credit crunch is actually causing this “hidden job market” to grow rapidly. Over the last few months many of BITE’s contractors are securing unadvertised jobs, substantially more then a year earlier.
Save time & money
Not placing adverts and then not having to go through 100’s of applications saves a lot of time. In the UK contracting market speed is essential. Contract positions come about quickly and clients want the right candidate fast. (This is also why contract jobs pay a lot more). A lot of agents will prefer checking their existing databases before spending the time and effort in actually placing the advert and then filtering through 100’s of applications.
What can BITE help me with?
One of the first steps will be to create a CV that can function efficiently and as universally as possible on agency CV databases. To have any chance to access these unadvertised jobs, a well structured and readable CV is a must (readable to automated electronic scanners). Experts at BITE will help you create the winning formula based on your individual skills, experience and achievements.
Its easy … when you know how
Understanding the current market conditions and establishing your rates, along with interview training and guidance will provide you the necessary expertise when dealing with agents. More information on all these elements can be found in the Job Search section.
Our CV Marketing service and mailing list, sent out to agents every week, will include your latest CV and be delivered each week to agents (who all request the list). This CV distribution service is like no other! Its free for agents to use and over the years the reputation it has built up ensures your CV is sent to the right agents who are then able to get in touch with you directly about job, even the unadvertised ones!
If you’d like to know more about the unadvertised job market in the UK, and wish to contract via BITE, send in your CV and come and meet us at our London offices. Have any questions, want to know more about contracting? Check the FAQ’s.
Categorised in: News
This post was written by M3 Team