Let’s take a moment to better understand the unpublished job market, better understand the difference between the two and look at the more traditional printed job market.
The published job market is the place where we usually go for publishing opportunities, newspaper advertisements you know, Join Pak Army Jobs bank, staff or recruitment agency positions and job fairs.
But did you know that announced jobs make up 30% of all jobs? Some experts in the field even claim that this is 10% of all jobs in the job market.
So the logical question is where are the other jobs?
Unpublished labor market
The unpublished job market is also called the secret job market, where jobs are filled without publicity, or as we have seen for a moment.
The undeclared job market accounts for about 70% of all existing jobs. But more Eighty-five percent of all six figure salaries are filled in this undeclared job market. This means that the list of executives we see in top publications such as the Wall Street Journal, Baron or the Financial Times is a 15% discount on a number of salary positions.
So why such a secret market?
Why do we go to the market and look for all the jobs?
To help us answer these questions, let’s take a brief look at the mechanics of the job market.
How the Printed Job Market Works
In the traditional job market, we research existing Today Jobs In Pak listings to find out which positions we need to find. We then send our CV to the employer, location agency or chief hunter, depending on who posted the list.
Once your CV is accepted, the recruiting team will make a basic summary of the accepted CV. The rest of the CV is sent to the Hired Manager for review and the interview process begins.
First, the staff or hiring agency conducts the first round of interviews to ensure compliance and resumption of corporate culture. The job manager then interviews the selected candidates to determine the most suitable person. After the best candidate is interviewed, the job search process begins.
If the recruiting company complies, the HR team will submit. In the case of a hunter, he will act as a mediator between the employer and the candidate, usually as a percentage of the final salary, ensuring that the candidate receives a good bonus as a commission. ۔
How the Unpublished Job Market Works
In the job market, this process is more formal.
In this market, the workflow is more managed by the company, sometimes using external resources, but different from the traditional job market. Job referrals are common in this market because companies looking for good candidates need referrals from business partners, suppliers, contacts from other companies or even their employees.
Some companies also have referral programs for employees. After all, who is better than a worker to find out if a candidate is in line with corporate culture, he is with him every day. At Fortune 500, where I worked, the Employee Referral Program offers cash benefits to every candidate who completes the job in the first three months.
When you compare how the two markets work, you may think that the published job market is not as simple or easy as responding to a published job advertisement. But if you look at the number of potential opportunities, the hidden job market should be part of your overall job search strategy.