The Hidden Job Market: Building a Referral Network
by Mary Toomey on December 9th, 2015 
Most experts agree that only 15-20% of all available jobs become advertised to the public. These positions are considered to be “hidden or the “underground” job market. With such a high percentage of jobs going unadvertised, word-of-mouth referral is among the surest way to land a new job. A study done by CareerXroads finds that a job seeker who gets referred is three to four times more hireable than someone who applies without a referral. Here are some strategies to get more referrals and to tap into that “underground” job market.
- Network using LinkedIn. Build your LinkedIn network with hundreds of connections and actively engage with them on a regular basis. Optimize your LinkedIn profile and keep it up to date. Join groups and participate in discussions so people become familiar with your name and may seek you out. At MicroTrain, we provide monthly LinkedIn Seminars to help all our clients build a professional profile and learn how to navigate LinkedIn to use their network as a referral source.
- The cardinal rule of networking is to give first before you get. Make sure you maintain an atmosphere of mutual exchange and not just personal gain. Offer up job leads to others, share ideas, information and resources. Genuinely help others before asking for help.
- Research companies that you would consider being a potential employee. Companies will post on their website and rarely go to job boards. Most companies have internal referral programs in place, so existing employees can make referrals and thereby eliminate the need for the company to conduct regular searches.
- Join a professional association within your industry, this will help you network with those in your industry but also help you build a stronger resume. Volunteer time if they are having an event.
- Attend local networking events. Be prepared and practice your “elevator pitch”. The more specific you are as to the position you are looking for, the better someone might be able to help you.
Building a good referral network requires networking and telling as many people that you come in contact with that you are looking for a new position. Be patient and persistent, the work you put in will be well worth your investment in time.